Remitly raises 2026 outlook as profit jumps sevenfold

Overview

Updated 1 hour ago

Remitly moved $24.4 billion across borders in the third quarter and booked $509.8 million of it as revenue. Net income hit $67.6 million, up from $8.8 million a year earlier.

The company raised its 2026 revenue outlook to $1.989 billion–$1.991 billion and its adjusted EBITDA outlook to $441 million–$443 million. It also doubled its share repurchase authorization to $500 million. The catch is 2027, when Remitly expects growth to slow to the high teens.

Why it matters

Remitly is one of the largest digital remittance firms; its margins show whether moving money across borders can be a high-profit business.

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Key Indicators

$509.8M

Q3 2026 revenue

Up 22% year over year.

$67.6M

Q3 2026 net income

Up 665% year over year.

$120.8M

Q3 2026 adjusted EBITDA

Up 97% year over year.

$24.4B

Q3 2026 send volume

Up 25% year over year.

10.3M

Quarterly active customers

Up 17% year over year.

2.09%

Take rate

Revenue per $100 sent, as mix shifts toward larger transfers.

$500M

Share repurchase authorization

Doubled from $200 million.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Sebastian Gunningham

Chief Executive Officer, Remitly

Leading Remitly's expansion beyond remittances

Organizations Involved

Remitly Global, Inc.

Public fintech company

Subject of the story; reported Q3 2026 results

A Seattle-based digital remittance company listed on Nasdaq under the ticker RELY.

Timeline

4 events Latest: Yesterday

Tap a bar to jump to that date

November 2026
Shares slip as 2027 guide offsets Q3 beat
Latest Market

Remitly stock fell after revenue met estimates but guidance pointed to slower 2027 growth.
Yesterday
2027 outlook points to slower growth
Guidance

Management guided 2027 revenue growth to the high teens, at the lower end, citing the 1% remittance tax comparison.
2 days ago
Remitly reports record Q3 results
Earnings

Revenue of $509.8 million, net income of $67.6 million and adjusted EBITDA of $120.8 million.
3 days ago
Board doubles buyback authorization to $500 million
Capital allocation

Remitly raised its share repurchase authorization from $200 million to $500 million.
3 days ago

Scenarios

Remitly hits its raised 2026 guidance

Likely Resolves by Feb 28, 2027

Discussed by: Remitly management; analysts tracked by StockStory

Remitly's own outlook calls for $1.989 billion–$1.991 billion in 2026 revenue and $441 million–$443 million in adjusted EBITDA. Hitting both would confirm the margin expansion is durable, not a one-quarter artifact of lower spending.

2027 growth undershoots the high-teens guide

Possible Resolves by Nov 30, 2027

Discussed by: Remitly management, which flagged the 1% remittance tax comparison

Remitly said it expects high-teens revenue growth in 2027 but at the lower end, citing a tough comparison from the first year of the 1% remittance tax. If digital conversion does not offset that, growth could slip below the guide.

Newer businesses top 10% of revenue ahead of schedule

Uncertain Resolves by Q1 2028

Discussed by: Remitly management

Remitly says its growth accelerators, including Remitly Business, large transfers, receiver products and the Global Card, should reach about 5% of revenue in 2026 and more than 10% by 2028. Faster adoption would diversify revenue away from core remittances.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

2026

US 1% remittance tax takes effect (2026)

A 1% excise tax on certain remittance transfers took effect, applying to cash, money order and foreign-currency sends but not transfers from US bank accounts. The tax raised the cost of cash-based remittances and pushed senders toward digital channels.

Then

Digital remittance firms including Remitly reported volume gains as cash channels became relatively more expensive.

Now

The tax became a structural cost that shapes pricing and channel mix across the remittance industry.

Why this matters now

Remitly credits the shift to digital for part of its 2026 growth and flags the tax's first-year comparison as a 2027 headwind.

July 2021

Wise lists in London (2021)

Wise, the London-based digital money transfer firm formerly called TransferWise, went public via a direct listing. It gave the company a public currency to compete with banks and legacy remittance firms.

Then

The listing gave Wise capital and visibility to expand its app-based cross-border payments.

Now

It established digital remittances as a standalone public-market category, alongside Remitly's own Nasdaq listing two months later.

Why this matters now

Remitly's margin expansion is the next test of whether that category can convert scale into sustained profit.

September 2021