What Happened?

Shares of online money transfer platform Remitly (NASDAQ:RELY) jumped 11.5% in the afternoon session after the company reported strong first quarter 2025 results which significantly beat analysts' revenue and EBITDA expectations and featured raised full-year guidance on both metrics. Sales climbed 34% thanks to more people using the service and sending more money, with customer count up nearly 30% and volume rising over 40%. That helped turn last year's loss into a solid profit this time around. Overall, this "beat-and-raise" quarter had some key positives.

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What The Market Is Telling Us

Remitly’s shares are not very volatile and have only had 7 moves greater than 5% over the last year. Moves this big are rare for Remitly and indicate this news significantly impacted the market’s perception of the business.

The biggest move we wrote about over the last year was 9 months ago when the stock gained 9.4% on the news that the company reported strong second-quarter 2024 results. Remitly added new buyers this quarter, which helped it beat analysts' revenue expectations and enabled the company to lift its full-year revenue guidance. It also beat Wall Street's EPS estimates. Overall, we think this was a really good quarter that should please shareholders.

Remitly is up 8.8% since the beginning of the year, but at $24.37 per share, it is still trading 10.2% below its 52-week high of $27.14 from February 2025. Investors who bought $1,000 worth of Remitly’s shares at the IPO in September 2021 would now be looking at an investment worth $502.89.

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