Remitly Global, Inc. (RELY) shares surged 8.07% in the after-hours session on Wednesday following the company's better-than-expected fourth quarter 2024 results and an optimistic outlook for 2025.
The digital financial services provider reported Q4 revenue of $351.9 million, beating the consensus estimate of $343.4 million. Net loss for the quarter came in at $5.7 million, significantly lower than the expected loss of $19.8 million. Adjusted EBITDA was $43.7 million, more than double the $21.9 million estimate.
For fiscal 2025, Remitly expects revenue in the range of $1.565 billion to $1.58 billion, representing a growth of 24%-25% year-over-year. The company also forecasts positive GAAP net income and adjusted EBITDA between $180 million and $200 million for the full year. For Q1 2025, revenue is projected between $345 million and $348 million, with adjusted EBITDA in the range of $36 million to $40 million.
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