Remitly Global, Inc. · NASDAQ:RELY
Remitly Global — Q1 2023 Earnings Presentation
24 slides from Remitly Global's earnings presentation, May 3, 2023
Slide 1: Investor Presentation First Quarter 2023 Earnings
Investor Presentation First Quarter 2023 Earnings May 3, 2023 1 May 2023 / © 2023 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: 1Q Strategic Overview
1Q Strategic Overview Matt Oppenheimer Co-Founder & CEO 3 May 2023 / © 2023 Remitly Inc.
Slide 4: Strong 1Q results continue
Resilient and predictable customer behavior Differentiated product Strong Increasing long term returns on investments 1Q results continue Scale enabling an even better customer experience track record of execution ($28m) 1Q23 $204m 1Q23 GAAP Net Loss REVENUE PROFITABILITY 50% YoY $5m Adjusted EBITDA
Slide 5: Strong new customer acquisition and high retention
Strong new customer acquisition and high retention Quarterly Active Customers (thousands) Exceptionally strong new customer acquisition at compelling unit economics 4,559 4,188 3,818 3,419 Customer behavior 3,042 +50% continues to be resilient YoY Investments in premium product driving loyalty and m
Slide 6: High return investments drive sustainable growth
New customer acquisition Driving efficient customer growth Geographical expansion High return investments drive Remittance product sustainable growth Driving higher enhancements retention and and enhance engagement Complementary customer loyalty new products and engagement 6 May 2023 / © 2023 Remitl
Slide 7: Driving sustainable marketing
Scale drives Brand Localization increasing awareness at scale word of mouth Driving sustainable Aided Increased CAC awareness up creative Improvements marketing in all regions velocity efficiencies 7 May 2023 / © 2023 Remitly Inc.
Slide 8: Scaled and high quality global network
Localized pay in options help drive customer preference Direct integrations Scaled and high +170 are increasing and becoming easier with scale quality global countries & territories network Scale creating flywheel for lower transaction and delivers for customer support costs while improving the our
Slide 9: Building customer trust at scale
Building customer trust at scale Speed 4.9X Reliability iOS App Store rating3 (~1M reviewers) >90% of customer Platform transactions Availability disbursed in 99.93%1 less than an hour1,2 4.8X Android Google Play rating3 (+580k reviewers) 1. Remitly internal data for 1Q 2023. 2. Disbursement speed r
Slide 10: Incredible opportunity to drive even more customer value
Solving complementary problems to the remittance problem we’re already solving Incredible opportunity to drive even Increased Long-term Highly defensible customer more customer customer value engagement competitive advantage loyalty 10 May 2023 / © 2023 Remitly Inc.
Slide 11: Vision
Vision To transform the lives of immigrants and their families by providing the most trusted financial services on the planet. 11 May 2023 / © 2023 Remitly Inc.
Slide 12: 1Q Financial Results
1Q Financial Results Hemanth Munipalli CFO 12 May 2023 / © 2023 Remitly Inc.
Slide 13: 1Q — Continued strong execution
SCALE 4.6m $8.5b 50% growth in quarterly 40% growth in active customers send volume over 1Q 2022 over 1Q 2022 1Q — Continued $204m strong REVENUE 50% growth in revenue over 1Q 2022 execution PROFITABILITY ($28m) $5.4m GAAP Net Loss Adjusted EBITDA Adjusted EBITDA is a non-GAAP measure. Please see re
Slide 14: 1Q 2023 benefited from strong execution
1Q 2023 benefited from strong execution 1Q23 Year-over-Year Change Execution Wins Macro Factors ● High retention Revenue Growth 50% ● ● Strong new customer acquisition Geographic expansion from prior periods ● Continued advances in our approach to fraud Transaction prevention Expense as a % of Reven
Slide 15: Four key focus areas to drive sustainable, long-term returns
Four key focus areas to drive sustainable, long-term returns Strong Revenue Growth Drive Marketing Efficiency1 YoY % % of Growth 49% 42% 40% 41% 50% Revenue 29% 26% 24% 21% 20% Improve Transaction Expense Deliver Scale Efficiencies in Other Opex1 % of % of Revenue 41% 39% 41% 38% 36% Revenue 38% 39%
Slide 16: Raising 2023 Outlook
Key 2023 Expectations ● Macro and FX environment stable to 1Q23 ● Sustained marketing efficiencies in normalizing advertising market $875m-$895m ● Moderating growth in Raising 2023E Revenue operating expenses vs 2022 34% to 37% YoY growth Opportunity to make 2023 Outlook ● long-term and high return
Slide 17: Strong balance sheet to fund strategic growth
New customer acquisition Strong balance Geographical sheet to fund expansion strategic growth ~$244m Cash priorities Remittance product enhancements Complementary new products As of 3/31/23 17 May 2023 / © 2023 Remitly Inc.
Slide 18: Q&A
Q&A 18 May 2023 / © 2023 Remitly Inc.
Slide 19: A quick and easy way to send money
A quick and easy “ Ulf Remitly user since 2022 Sends money from Sweden to Philippines way to send money. I'm always using it. May 2023 / © 2023 Remitly Inc.
Slide 20: Appendix
Appendix 20 May 2023 / © 2023 Remitly Inc.
Slide 21: 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 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of operating expenses to non-GAAP operating 1Q 2023 4Q 2022 3Q 2022 2Q 2022 1Q 2022 expenses (in thousands) Customer support and operations $19,931 $19,239 $18,142 $16,855 $13,870 Excluding: Stock-based compensation expense, net 205 220 226 277 93 Non-GAAP cust
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of net loss to Adjusted EBITDA (in thousands) 1Q 2023 4Q 2022 3Q 2022 2Q 2022 1Q 2022 Net loss ($28,314) ($19,395) ($33,069) ($38,245) ($23,310) Add: Interest (income) expense, net (1,635) (1,947) (1,070) (107) 277 Provision for income taxes 370 (434) 287 662 5
Slide 24: Thank you.
Thank you. May 2023 / © 2023 Remitly Inc.