Slide 1: First Quarter 2022 Earnings
May 2022 / © 2022 Remitly Inc.1 Investor Presentation First Quarter 2022 Earnings May 5, 2022
Slide 2: Forward-Looking Statements
May 2022 / © 2022 Remitly Inc.2 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 includ
Slide 3: 1Q Strategic Overview
May 2022 / © 2022 Remitly Inc. 1Q Strategic Overview 3 Matt Oppenheimer Co-Founder & CEO
Slide 4: Track record of strong growth continued in 1Q 2022
May 2022 / © 2022 Remitly Inc.4 Track record of strong growth continued in 1Q 2022 SCALE $136m 49% YoY REVENUE 3.0m active customers 42% YoY
Slide 5: Our target customers are not served well by traditional financial services
May 2022 / © 2022 Remitly Inc. Our target customers are not served well by traditional financial services 5 +280 million immigrants across the world1 USA +50m UK +9m Germany +15m France +8m Canada +8m Italy +6m Australia +7m Rest of World +170m $1.6T Remittances sent 3-5% of GDP low and mid-income c
Slide 6: Legacy cross border remittance industry is broken
May 2022 / © 2022 Remitly Inc.6 Inconvenient Limited store hours Long wait time Manual forms Unsafe locations Slow 3-5 business days1 No transparency on speed of transfer Confusing Poor customer support No timely recourse Lagging digital capabilities Limited delivery options Overpriced 5-7% avg take
Slide 7: Remitly is creating an enduring customer preference by providing trusted service
May 2022 / © 2022 Remitly Inc.7 Convenient +3.7B bank accounts +690M mobile wallets +395k cash pickup Locations Home delivery Fast Majority of transactions disbursed in minutes1 Offer flexibility for customers who desire quick delivery of funds Friendly Intuitive sign on and KYC 3 taps to send a rep
Slide 8: Opportunity is massive and we are just getting started
May 2022 / © 2022 Remitly Inc. Opportunity is massive and we are just getting started 8 Remittances TAM $1.6T1 Global remittances through both formal and informal channels ● Majority of remittances still flow through ‘brick and mortar’ channels, including informal remittance systems (e.g. hawala, fi
Slide 9: Acquire new customers at strong unit economics
May 2022 / © 2022 Remitly Inc.9 Acquire new customers at strong unit economics 2024 & beyond Current Impact Near- term impact 01 Marketing Expand to new geographies and increase payment and disbursement options for customers 02 Global network 03 Remittance product Differentiated features, risk syste
Slide 10: Marketing investments generate strong returns
May 2022 / © 2022 Remitly Inc. Marketing investments generate strong returns 10 Cumulative Return on Initial Direct Marketing Investment by Cohort Relative Cohort Year Re tu rn o n D ire ct M ar ke tin g In ve st m en t1 1 Return on marketing investment is the ratio of revenue, net of transaction ex
Slide 11: Our global network is continuously expanding and is a key growth driver
May 2022 / © 2022 Remitly Inc. Our global network is continuously expanding and is a key growth driver 11 +2,300 corridors +3.7b bank accounts +395k cash pickup locations +690m mobile wallets +160 Countries & Territories Data as of 1Q 2022
Slide 12: Product & Technology investments drive superior customer experience
May 2022 / © 2022 Remitly Inc. Product & Technology investments drive superior customer experience 12 App UX ● App offered in 14 languages and adding more ● 3 taps to send for repeat customers ● Easy in-app access to help center Risk & Fraud Management ● Reduced fraud sideline rates ● Reduced custom
Slide 13: Vision
May 2022 / © 2022 Remitly Inc. Vision To transform the lives of immigrants and their families by providing the most trusted financial services on the planet. 13
Slide 14: 1Q Financial Results
May 2022 / © 2022 Remitly Inc.14 1Q Financial Results Susanna Morgan CFO
Slide 15: Track record of strong growth continued in 1Q 2022
May 2022 / © 2022 Remitly Inc.15 Track record of strong growth continued in 1Q 2022 SCALE 3.0m 42% growth in active customers over 1Q 2021 $6.1b 43% growth in send volume over 1Q 2021 REVENUE $136m 49% growth in revenue over 1Q 2021 90%+ Revenue retention across all cohorts since 2015
Slide 16: Strong continued growth in active customers
May 2022 / © 2022 Remitly Inc. Active Customers (thousands) Strong continued growth in active customers +42% YoY 1,140 1,525 1,692 1,891 2,136 16 Primarily driven by 2,397 2,561 2,836 3,042 ● New customer acquisition at strong unit economics ● High retention and customer loyalty ● Convenient, fast,
Slide 17: Loyal & predictable customer base
May 2022 / © 2022 Remitly Inc. Loyal & predictable customer base Revenue Contribution by Cohort ($ in millions) +90% Annual Revenue Retention (post first full year growth) 17
Slide 18: Our take rate continues to remain stable
May 2022 / © 2022 Remitly Inc. Our take rate continues to remain stable Average Take Rate by Quarter (%) 18 Take-rate is defined as revenue per transaction as a percentage of the transaction size 2.22% Avg.
Slide 19: High double digit revenue growth at scale
May 2022 / © 2022 Remitly Inc. High double digit revenue growth at scale Revenue ($ in millions) +49% YoY $45.7 $59.4 $71.8 $80.0 19 $111.1 $121.2 $135.3 $136.0 $91.1
Slide 20: Delivering leverage on unit costs
May 2022 / © 2022 Remitly Inc.20 Delivering leverage on unit costs Direct integrations reduce transaction errors and lower processing costs Advanced risk and fraud management systems drive down transaction loss rates Scale drives better terms with payment processing and disbursement partners 1Q21 1Q
Slide 21: Disciplined investments will drive long-term growth
May 2022 / © 2022 Remitly Inc.21 Disciplined investments will drive long- term growth ● New customer acquisition marketing ● Expanding global network ● Product technology and new products ● Public company capabilities Marketing 1Q 2022 Operating Expense Mix (Non-GAAP) KEY INVESTMENTS $39.6m 43% Tech
Slide 22: Strong balance sheet to execute on growth
May 2022 / © 2022 Remitly Inc.22 Strong balance sheet to execute on growth $445m Cash as of 3/31/22 (8.9)% 1Q22 Adjusted EBITDA Margin ($23)m 1Q22 GAAP Net Loss ($12)m 1Q22 Adjusted EBITDA Please see reconciliation of Non-GAAP measures in the appendix
Slide 23: 2022 Outlook
May 2022 / © 2022 Remitly Inc. 2022 Outlook Reflects strong growth and key investments to unlock our vision ● Raising 2022 revenue outlook by $5M at the midpoint (1) ● High growth at scale ● Upfront investments drive future growth and high customer lifetime value ● Investing efficiently to deliver l
Slide 24: Q & A
May 2022 / © 2022 Remitly Inc. Q & A 24
Slide 25: Customer testimonial: sending money to the Philippines
May 2022 / © 2022 Remitly Inc. “ I wanted to send money to my girlfriend who is in the Philippines and it was a great experience using Remitly. My experience with the money transfer companies I used before was really bad. They made sending money really hard and I would get rejected! I am proud to he
Slide 26: Appendix
May 2022 / © 2022 Remitly Inc. Appendix 26
Slide 27: Non-GAAP Measures
May 2022 / © 2022 Remitly Inc.27 Non-GAAP 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 regular
Slide 28: Non-GAAP Reconciliation: operating expenses
May 2022 / © 2022 Remitly Inc.28 Non-GAAP Reconciliation Reconciliation of operating expenses to non-GAAP operating expenses (in thousands) 1Q 2022 Customer support and operations $13,870 Excluding: Stock-based compensation expense, net 93 Non-GAAP customer support and operations $13,777 Marketing $
Slide 29: Non-GAAP Reconciliation: net loss to Adjusted EBITDA
May 2022 / © 2022 Remitly Inc.29 Non-GAAP Reconciliation Reconciliation of net loss to Adjusted EBITDA (in thousands) 1Q 2022 Net loss ($23,310) Add: Interest expense, net 277 Provision for income taxes 528 Depreciation and amortization 1,517 Foreign exchange (gain) loss (669) Stock-based compensati
Slide 30: Thank you.
May 2022 / © 2022 Remitly Inc. Thank you.