RELYMEDIUM SIGNALOPERATIONAL10-K

Remitly demonstrates strong operational momentum with revenue growth of nearly 30% while expanding its global platform from 170+ to 175+ countries and scaling to over 9.3 million quarterly active users.

The company is successfully executing its strategic evolution from a pure remittance provider to a diversified cross-border financial services platform, evidenced by expanded customer segments including businesses and high-amount senders. The substantial growth in operating cash flow signals improving operational efficiency and cash generation capability as the business scales.

Comparing 2026-02-18 vs 2025-02-19View on EDGAR →
FINANCIAL ANALYSIS

Remitly delivered robust financial performance with revenue growing 29.4% to $1.6 billion while operating cash flow expanded substantially to $325.1 million. The balance sheet strengthened considerably with cash and equivalents increasing 47.4% to $542.4 million and total assets growing 44% to $1.5 billion, though total liabilities also increased meaningfully to $589.9 million. Overall, the financial profile reflects a rapidly scaling fintech company with strong top-line growth, improved cash generation, and enhanced financial resources to support continued expansion.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
+80.6%
$1.3M→$2.4M

Interest expense surged 80.6% — significant debt increase or rising rates materially impacting earnings.

Total Liabilities
Balance Sheet
+69.8%
$347.4M→$589.9M

Liabilities grew 69.8% — significant increase in debt or obligations, assess impact on financial flexibility.

Operating Cash Flow
Cash Flow
+67.2%
$194.5M→$325.1M

Operating cash flow surged 67.2% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+47.4%
$368.1M→$542.4M

Cash position surged 47.4% — strong cash generation or capital raise providing significant financial cushion.

Current Assets
Balance Sheet
+46.6%
$897.5M→$1.3B

Current assets grew 46.6% — improving short-term liquidity or inventory/receivables build.

Total Assets
Balance Sheet
+44%
$1.0B→$1.5B

Asset base grew 44% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+30.6%
$665.5M→$868.8M

Equity base grew 30.6% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Revenue
P&L
+29.4%
$1.3B→$1.6B

Revenue growing 29.4% — solid top-line momentum, watch margins for quality of growth.

Current Liabilities
Balance Sheet
+21.3%
$329.0M→$399.1M

Current liabilities rose 21.3% — increased short-term obligations, watch current ratio.

R&D Expense
P&L
+16.3%
$269.8M→$313.9M

R&D investment increased 16.3% — signals commitment to future product development, though near-term margin impact.

LANGUAGE CHANGES
NEW — 2026-02-18
PRIOR — 2025-02-19
ADDED
As of February 16, 2026, the registrant had 210,654,386 shares of common stock, $0.0001 par value per share, outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 7A.
With a footprint spanning more than 175 countries, we have built one of the world s leading global money movement platforms, trusted by millions of customers who rely on us every day.
The long-term, trusted relationships we foster with our customers have enabled us to scale to more than 5,300 corridors and more than 9.3 million quarterly active users worldwide.
Leveraging our strengths in global money movement, we continue to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases.
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REMOVED
As of February 17, 2025, the registrant had 200,607,380 shares of common stock, $0.0001 par value per share, outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.
With a global footprint spanning more than 170 countries, Remitly s digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience.
The inspiration behind Remitly came when Matt, our co-founder and Chief Executive Officer, was living and working in Kenya.
Living abroad, he experienced firsthand how painful it could be to send money across borders, and witnessed how far that money could go once it made it home.
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