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RELY · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Remitly Global, Inc. Common Stock (RELY) stock moving?
Remitly reported Q3 2026 results on Nov 4 with revenue up 22% to $509.8M, adjusted EPS of $0.30 against a $0.15 estimate, and FY2026 sales guidance raised to $1.989B-$1.991B. The Q4 sales outlook of $531M-$533M brackets the $532.3M consensus, so the guidance raise was modest. The company also lifted its buyback authorization from $200M to $500M, expanded its Global Card to all eligible U.S. customers, and launched two-way transfers in Brazil. The stock hit a $28.00 intraday high and closed at $27.08 on Nov 4 on 8.2M shares, then fell about 20% on Nov 5 to $21.55 on 11.5M shares, roughly five times the recent average, with an intraday low of $20.72. The news items do not explain that reversal. Shares recovered to $23.48 by Nov 10, still below the Nov 3 close of $25.38 and well short of the post-results close. Cantor Fitzgerald reiterated Overweight with a $30 target, about 28% above the latest close. An Oct 26 credit agreement amendment raised the secured revolver to $1.0B from $550M, mainly to fund customer prefunding. Fundamentals and capital return are supportive, but the price action shows investor skepticism that the available news does not resolve.
News behind the analysis
- Remitly Global Reports Q3 2026 Financial Results and Brazil Market LaunchRevenue rose 22% to $509.8M, guidance was raised, the buyback was expanded, and two-way money transfers launched in Brazil.
- Cantor Fitzgerald Reiterates Overweight on Remitly Global, Maintains $30 Price TargetCantor Fitzgerald kept its Overweight rating and $30 price target on Remitly.
- Remitly Reports Third Quarter 2026 Financial Results and Increases Share Repurchase AuthorizationQ3 revenue grew 22% year over year with a significant rise in net income, and the repurchase authorization was raised to $500 million.
- Remitly Global Raises FY2026 Sales Guidance from $1.978B-$1.988B to $1.989B-$1.991B vs $1.988B EstFull-year sales guidance was nudged up to $1.989B-$1.991B, just above the $1.988B consensus estimate.
- Remitly Global Sees Q4 Sales $531.000M-$533.000M vs $532.262M EstQ4 sales guidance of $531M-$533M brackets the $532.3M consensus estimate.
- Remitly Global Q3 Adj. EPS $0.30 Beats $0.15 Estimate, Sales $509.839M Beat $507.325M EstimateAdjusted EPS of $0.30 beat the $0.15 estimate, and sales of $509.8M beat the $507.3M estimate.
- Remitly Global Announces Board Increases Buyback Authorization From $200M To $500MThe board raised the share repurchase authorization from $200 million to $500 million.
- Remitly Global Card Expands Nationwide in the U.S.The Global Card now lets all eligible U.S. customers send and request money domestically and internationally.
- William Blair Removes Remitly Global from Monthly Conviction ListWilliam Blair dropped Remitly from its monthly conviction list ahead of earnings to manage portfolio volatility.
About Remitly Global, Inc. Common Stock
Remitly is a Seattle-based online money-transfer company whose app lets immigrants and others send money abroad to family and friends, typically to bank accounts, mobile wallets or cash pickup points. It runs entirely digitally, with no physical branches, and has grown quickly. Its latest reported quarter (Q3 2026) brought roughly 10.3 million active customers, revenue of about $510 million and growing profits.
How it makes money
Almost all of its revenue comes from transfers: Remitly charges a fee on each transfer and earns a markup on the exchange rate when converting currencies. Revenue tracks send volume, which was about $24 billion in Q3 2026. The company is also adding newer products, such as cross-border payouts to sellers on marketplaces like Etsy. The company guides to roughly $2 billion in revenue for full-year 2026.
What usually moves RELY
- Growth in send volume and active customers
- Take rate (fees and FX spreads) vs. competitive pricing pressure
- US immigration policy and remittance taxes
- Fraud/transaction losses and marketing costs
- Profit margin expansion vs. growth investment