Filing Flows › Remitly Global (RELY) › Q1 2025
Remitly Global (RELY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Remitly Global (RELY) reported revenue of $362M for the first quarter 2025 (Q1 2025), +34% from a year earlier and +3% from the quarter before. Operating margin was 3.4%, net earnings $11.4M (3.1% of revenue).
Remitly Global, Q1 2025: revenue $362M (+34% year over year), operating margin 3.4%, net earnings $11.4M, operating cash flow $133M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $362M | +3% | +34% |
| Operating profit | $12.2M | — | — |
| Net earnings | $11.4M | — | — |
| Operating cash flow | $133M | +139% | — |
| Free cash flow | $119M | +125% | — |
What changed
Revenue was $361.6M in Q1 2025, up 34% year over year and up 3% from the previous quarter.
Operating profit was $12.2M, a 3.4% margin (up 10.8 points year over year). Total costs grew 21% against revenue growth of 34%. The fastest-growing cost line was Other operating costs (+31%). Net earnings were $11.4M. The effective tax rate was 24.0%.
Operating cash flow was $132.9M, 1171% of net earnings. Non-cash charges added back $5.4M of depreciation and amortization and $35.8M of share-based compensation. Working capital and other items added $80.4M. Capital expenditures of $14.0M left free cash flow of $118.9M.
Questions
What was Remitly Global's revenue in the first quarter 2025?
Remitly Global (RELY) reported revenue of $362M for the first quarter 2025 (Q1 2025), +34% from a year earlier and +3% from the quarter before.
Was Remitly Global profitable in the first quarter 2025?
Operating profit was $12.2M (3.4% of revenue) and net earnings $11.4M.
Source: Remitly Global 10-Q on SEC EDGAR.