Remitly Achieves Profitability Amid Rapid Growth
Remitly (NASDAQ: RELY), a digital provider of cross-border remittance services, achieved profitability according to generally accepted accounting principles (GAAP) in 2025, following a positive adjusted EBITDA in 2023. The company went public in September 2021 and has seen its annual revenue surge from $459 million in 2021 to $1.64 billion in 2025.
The active customer base grew significantly from 2.8 million in 2021 to 9.3 million in 2025, while transaction volume increased dramatically from $20.4 billion to $74.9 billion during the same period. Analysts project a 19% compound annual growth rate (CAGR) for revenue from 2025 to 2028, with adjusted EBITDA and GAAP earnings per share expected to grow at CAGRs of 30% and 54%, respectively.
Despite its momentum, Remitly faces competition from traditional money transfer services and emerging stablecoin technologies. Nonetheless, its partnerships and low enterprise value of $3.6 billion position it well within the fintech landscape.
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