Remitly Global, Inc. · NASDAQ:RELY
Remitly Global — Q2 2024 Earnings Presentation
20 slides from Remitly Global's earnings presentation, Jul 31, 2024
Slide 1: Investor Presentation Second Quarter 2024 Earnings
Investor Presentation Second Quarter 2024 Earnings July 31, 2024 1 July 2024 / © 2024 Remitly Inc.
Slide 2: Disclosures
Disclosures Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limit
Slide 3: 2Q Strategic Overview
2Q Strategic Overview Matt Oppenheimer Co-Founder & CEO 3 July 2024 / © 2024 Remitly Inc.
Slide 4: Consistent strategy to drive near and long-term growth and high returns
Consistent strategy to drive near and long-term growth and high returns Delight customers with fast, reliable and seamless experience Consumer Cross-Border TAM Localized marketing at attractive 1 1 unit economics ~$1.8t Unlock incremental customers Current Remitly Share2 and geographies Deepen custo
Slide 5: 2Q24 results above expectations
2Q24 Revenue $306m 31% Y/Y Vision — Transform lives with Second quarter trusted financial services 2Q24 Profitability results above that transcend borders expectations ($12m) GAAP Net Loss $25m *Adjusted EBITDA is a non-GAAP measure. Please see Adjusted EBITDA* reconciliation of non-GAAP measures to
Slide 6: Delivered strong quarterly active customer growth
Delivered strong quarterly active customer growth Quarterly Active Customers (thousands) Predictable and durable customer behavior 1.8m increase 6,851 6,209 5,911 5,409 Record number of new customers 5,033 +36% YoY Increasing customer engagement 6 July 2024 / © 2024 Remitly Inc.
Slide 7: Deep focus on end-to-end experience drives customer growth and lowers costs
Deep focus on end-to-end experience drives customer growth and lowers costs Focus areas across Key outcomes transaction lifecycle ● AI-driven virtual assistant >90% Customer transactions ● Tailored onboarding disbursed in less than an hour1,2 for different customer needs—launched seafarer experience
Slide 8: Record new customers efficiently
Deep data insights allow us to optimize CAC with customer lifetime value Global Increasing number payback of new customers from Record new unpaid channels < 12 customers Elasticity testing driving months efficiently incremental efficiencies acquired 8 July 2024 / © 2024 Remitly Inc.
Slide 9: 2Q Financial Results
2Q Financial Results Hemanth Munipalli CFO 9 July 2024 / © 2024 Remitly Inc.
Slide 10: 2Q — Strong execution
Scale 6.9m $13.2b 36% growth in quarterly 38% growth in active customers send volume over 2Q 2023 over 2Q 2023 2Q — Strong Revenue $306m 31% growth in revenue execution over 2Q 2023 Profitability ($12m) $25m GAAP Net Loss Adjusted EBITDA* *Adjusted EBITDA is a non-GAAP measure. Please see reconcilia
Slide 11: Four key focus areas to drive sustainable, long-term returns
Four key focus areas to drive sustainable, long-term returns Strong Revenue Growth Improve Transaction Expense as a % of Revenue YoY % % of Growth 49% 43% 39% 32% 31% Revenue 34% 35% 34% 33% 35% Marketing Investments to Drive Growth1 Deliver Scale Benefits in Other Opex1 % of % of Revenue 21% 24% 27
Slide 12: Delivering operating efficiencies
Delivering operating efficiencies 2Q24 Year-over-Year Change Performance Drivers ● Strong existing customer activity Revenue Growth 31% ● Record new customers ● Geographic expansion diversifying revenue Transaction ● Reducing costs across pay in and disbursement network Expense as a % of Revenue 90
Slide 13: 2024 Outlook
Key 2024 Assumptions ● Macro and FX environment consistent with 2Q24 ● Predictable and durable active customer trends $1,230m-$1,250m ● Consistent seasonal 2024E Revenue patterns 2024 Outlook 30% to 32% YoY growth ● Third quarter year over year revenue growth of ~32% Raising revenue and Adjusted EBI
Slide 14: Q&A
Q&A 14 July 2024 / © 2024 Remitly Inc.
Slide 15: Customer testimonial
“ Kyong M. Remitly customer since 2024 I love Remitly. Sends money from United States to South Korea I have recommended it to a few friends and they love it too. It’s convenient and safe. You can view the current exchange rates in real time and sending funds is right at your fingertips. 15 July 2024
Slide 16: Appendix
Appendix 16 July 2024 / © 2024 Remitly Inc.
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures Some of the financial information and data contained in this presentation, such as Adjusted EBITDA and non-GAAP operating expenses, have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). We regularly review our key busin
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of operating expenses to non-GAAP operating expenses 2Q 2024 1Q 2024 4Q 2023 3Q 2023 2Q 2023 (in thousands) Customer support and operations $19,999 $20,119 $19,917 $21,190 $21,483 Excluding: Stock-based compensation expense, net 259 353 394 386 419 Excluding: A
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of net loss to Adjusted EBITDA and calculation 2Q 2024 1Q 2024 4Q 2023 3Q 2023 2Q 2023 of Adjusted EBITDA Margin (in thousands, except for percentages) Net loss ($12,091) ($21,080) ($35,021) ($35,655) ($18,850) Add: Interest income, net (1,197) (1,457) (1,461)
Slide 20: Thank you.
Thank you. July 2024 / © 2024 Remitly Inc.