Slide 1: Second Quarter 2022 Earnings
August 2022 / © 2022 Remitly Inc. 1 Investor Presentation Second Quarter 2022 Earnings August 3, 2022
Slide 2: Forward-Looking Statements
August 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 in
Slide 3: 2Q Strategic Overview
August 2022 / © 2022 Remitly Inc. 2Q Strategic Overview 3 Matt Oppenheimer Co-Founder & CEO
Slide 4: Vision
August 2022 / © 2022 Remitly Inc. Vision To transform the lives of immigrants and their families by providing the most trusted financial services on the planet. 4
Slide 5: Track record of strong results continued in 2Q 2022
August 2022 / © 2022 Remitly Inc. Track record of strong results continued in 2Q 2022 SCALE $157m 42% YoY REVENUE 3.4m active customers 43% YoY 5
Slide 6: Remitly is creating an enduring customer preference by providing trusted service
August 2022 / © 2022 Remitly Inc. 6 Convenient +3.9B bank accounts +705M mobile wallets +410k cash pickup Locations Home delivery Fast Majority of transactions disbursed in minutes1 Offer flexibility for customers who desire quick delivery of funds Friendly Intuitive sign on and KYC 3 taps to send a
Slide 7: Our customers are resilient across volatile economic conditions
August 2022 / © 2022 Remitly Inc. Our customers are resilient across volatile economic conditions Remittances are not discretionary—they are a priority for our customers Have not noticed changes in customer behavior as a result of inflation or recession fears Recent Remitly customer surveys indicate
Slide 8: Portfolio of high ROI investments has driven strong long term growth
August 2022 / © 2022 Remitly Inc. Portfolio of high ROI investments has driven strong long term growth Revenue ($ in millions) $627.5 $458.6 $257.0 $126.6 Note: 2022E revenue reflects midpoint of current 2022 outlook. 8 71% CAGR New customer acquisition Geographic expansion Remittance product enhanc
Slide 9: Marketing investments generate strong returns
August 2022 / © 2022 Remitly Inc. Marketing investments generate strong returns 9 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 t 1 1 Return on marketing investment is the ratio of revenue, net of transaction
Slide 10: Driving efficiencies in customer acquisition
August 2022 / © 2022 Remitly Inc. ● Disciplined focus on payback ● Elasticity testing ● Improved brand awareness ● Improved referral experience Note: “Customer Acquisition Cost” or “CAC” refers to direct marketing expenses deployed to acquire new customers. Direct marketing expenses exclude experime
Slide 11: Geographic expansion is driving customer growth and loyalty
August 2022 / © 2022 Remitly Inc. Geographic expansion is driving customer growth and loyalty 11 +3,200 corridors +3.9b bank accounts +410k cash pickup locations +705m mobile wallets +170 Countries & Territories https://mapchart.net/world.html 2Q22: {"groups":{"#6fa0af":{"label":"Send Countries = 17
Slide 12: Remittance investments drive customer growth and loyalty
August 2022 / © 2022 Remitly Inc. Remittance investments drive customer growth and loyalty 12 App UX ● App offered in 15 languages and adding more ● 3 taps to send for repeat customers ● Easy in-app access to help center Risk & Fraud Management ● Differentiated customer experience ● Improved fraud l
Slide 13: Long-term vision of complementary new products
August 2022 / © 2022 Remitly Inc. Long-term vision of complementary new products 13 Complementary new products will… … drive value for remittance customers and grow our remittance platform … deepen relationships with our customers … enhance value of the Remitly ecosystem … drive more efficient custo
Slide 14: Portfolio of high ROI investments provides multiple growth opportunities
August 2022 / © 2022 Remitly Inc. New customer acquisition Geographic expansion Remittance product enhancements Complementary new products Portfolio of high ROI investments provides multiple opportunities to drive double digit growth well into the future 2022 & beyond 2023 & beyond 2023 & beyond 202
Slide 15: 2Q Financial Results
August 2022 / © 2022 Remitly Inc. 15 2Q Financial Results Hemanth Munipalli CFO
Slide 16: Track record of strong growth continued in 2Q 2022
August 2022 / © 2022 Remitly Inc. Track record of strong growth continued in 2Q 2022 SCALE 3.4m 43% growth in active customers over 2Q 2021 $7.0b 40% growth in send volume over 2Q 2021 REVENUE $157m 42% growth in revenue over 2Q 2021 90%+ Revenue retention across all cohorts since 2015 16
Slide 17: Strong continued growth in active customers
August 2022 / © 2022 Remitly Inc. Strong continued growth in active customers 1,525 1,692 1,891 2,136 Primarily driven by 2,397 2,561 2,836 3,042 ● Strong new customer acquisition at compelling unit economics ● High retention and customer loyalty ● Convenient, fast, friendly and fair customer experi
Slide 18: High double digit revenue growth at scale
August 2022 / © 2022 Remitly Inc. High double digit revenue growth at scale Revenue ($ in millions) $59.4 $71.8 $80.0 $111.1 $121.2 $135.3 $157.3 $91.1 $136.0 18 +42% YoY
Slide 19: Delivering leverage on unit costs
August 2022 / © 2022 Remitly Inc. 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 and improve the customer experience Scale drives better terms with payment process
Slide 20: Disciplined investments will drive long-term growth
August 2022 / © 2022 Remitly Inc. Disciplined investments will drive long-term growth New customer acquisition marketing Geographic expansion Remittance product enhancements Complementary new products Marketing 2Q 2022 Operating Expense Mix (Non-GAAP) KEY INVESTMENTS $41.1m 40% Technology & Developm
Slide 21: Strong balance sheet to execute on growth priorities
August 2022 / © 2022 Remitly Inc. Strong balance sheet to execute on growth priorities $452m Working Capital as of 6/30/22 ($38.2)m 2Q22 GAAP Net Loss ($5.3)m 2Q22 Adjusted EBITDA 21 Please see reconciliation of Non-GAAP measures in the appendix (2.9)% 2Q22 Adjusted EBITDA Margin
Slide 22: Raising 2022 Outlook
August 2022 / © 2022 Remitly Inc. Raising 2022 Outlook Reflects strong growth and key investments to unlock our vision ● Raising 2022 revenue outlook by $12.5M at the midpoint (1) ● Raising 2022 Adjusted EBITDA outlook by $2.5M at the midpoint (1) ● High growth at scale ● Upfront investments drive f
Slide 23: Q & A
August 2022 / © 2022 Remitly Inc. Q & A 23
Slide 24: Customer testimonial: Bibi
August 2022 / © 2022 Remitly Inc. “ Bibi Remitly user since 2022 Sends money from UK to Pakistan 24 A family member recommended Remitly to me. They shared that it was a reliable way to send money back home from the comfort of your home. I liked many things about my experience using Remitly. The char
Slide 25: Appendix
August 2022 / © 2022 Remitly Inc. Appendix 25
Slide 26: Non-GAAP Measures
August 2022 / © 2022 Remitly Inc. 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 regula
Slide 27: Non-GAAP Reconciliation: operating expenses
August 2022 / © 2022 Remitly Inc. Non-GAAP Reconciliation Reconciliation of operating expenses to non-GAAP operating expenses (in thousands) 2Q 2022 Customer support and operations $16,855 Excluding: Stock-based compensation expense, net 277 Non-GAAP customer support and operations $16,578 Marketing
Slide 28: Non-GAAP Reconciliation: net loss to Adjusted EBITDA
August 2022 / © 2022 Remitly Inc. Non-GAAP Reconciliation Reconciliation of net loss to Adjusted EBITDA (in thousands) 2Q 2022 Net loss ($38,245) Add: Interest expense, net (107) Provision for income taxes 662 Depreciation and amortization 1,510 Foreign exchange (gain) loss (1,687) Stock-based compe
Slide 29: Thank you.
August 2022 / © 2022 Remitly Inc. Thank you.