Slide 1: Investor Presentation Third Quarter 2023 Earnings
Investor Presentation Third Quarter 2023 Earnings November 1, 2023 1 November 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: 3Q Strategic Overview
3Q Strategic Overview Matt Oppenheimer Co-Founder & CEO 3 November 2023 / © 2023 Remitly Inc.
Slide 4: Consistent strategy of high ROI investments to capture more of the large TAM
Consistent strategy of high ROI investments provides multiple opportunities to capture more of the large TAM and deliver long term profitable growth New customer Near term returns Remittances TAM acquisition Geographic expansion Medium term returns >$1.6t1 Global remittances through both formal and
Slide 5: Strong 3Q results reflect current execution
3Q23 Profitability ($36m) Strong 3Q GAAP Net Loss results reflect 3Q23 Revenue current execution $10m and investments $242m Adjusted EBITDA* in future 43% Y/Y profitable growth *Adjusted EBITDA is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures
Slide 6: Record new customer acquisition and high retention
Record new customer acquisition and high retention Quarterly Active Customers (thousands) Customer behavior continues to be resilient 1.6m 5,409 increase 5,033 Continued diversification 4,559 of new customers 4,188 +42% 3,818 YoY Word of mouth key driver as we continue to delight customers 6 Novembe
Slide 7: High confidence marketing investments to drive growth
Build long term awareness Integrated Brand with strategically Campaigns important audiences Efficient New customer Performance acquisition with short Marketing payback period High confidence marketing Referrals + Lower cost Word of channels improve investments to Mouth efficiency drive growth 7 Nove
Slide 8: Removing customer friction builds customer trust
Examples of removing customer friction in our Key outcomes payment acceptance and disbursement networks Removing customer ● Increasing relevant >92% friction builds and localized payment options Customer transactions disbursed in less than an hour1,2 customer trust ● Easy and instant refunds — and l
Slide 9: Vision
Vision To transform the lives of immigrants and their families by providing the most trusted financial services on the planet. 9 November 2023 / © 2023 Remitly Inc.
Slide 10: 3Q Financial Results
3Q Financial Results Hemanth Munipalli CFO 10 November 2023 / © 2023 Remitly Inc.
Slide 11: 3Q - Continued strong execution
SCALE 5.4m $10.2b 42% growth in quarterly 36% growth in active customers send volume over 3Q 2022 over 3Q 2022 3Q — Continued $242m strong REVENUE 43% growth in revenue over 3Q 2022 execution PROFITABILITY ($36m) $10.5m Adjusted EBITDA* *Adjusted EBITDA is a non-GAAP measure. Please see GAAP Net Los
Slide 12: 3Q 2023 - strong performance and targeted investments
3Q 2023 - strong performance and targeted investments 3Q23 Year-over-Year Change Performance Drivers Macro Factors ● Strong active customer growth and retention ● Limited impact on Revenue Growth 43% ● Continued digital transaction intensity ● Geographic expansion diversifying revenue customer behav
Slide 13: 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 40% 41% 50% 49% 43% Revenue 24% 21% 20% 21% 24% Improve Transaction Expense Deliver Scale Efficiencies in Other Opex1 % of % of Revenue 41% 38% 36% 34% 35% Revenue 37% 38%
Slide 14: Raising 2023 Outlook
Key 2023 Assumptions ● Macro and FX environment stable to 3Q23 $935m-$943m ● Moderating growth in Raising 2023E Revenue operating expenses vs 2022 43% to 44% YoY growth ● Plan to make high return 2023 Outlook investments for the long-term Strong revenue growth — and scale efficiencies enabling highe
Slide 15: Q&A
Q&A 15 November 2023 / © 2023 Remitly Inc.
Slide 16: This app is awesome, try it! It is easy and fast.
“ Alexis Remitly user since 2023 This app is Sends money from Australia to Philippines awesome, try it! It is easy and fast. I love it. 16 November 2023 / © 2023 Remitly Inc.
Slide 17: Appendix
Appendix 17 November 2023 / © 2023 Remitly Inc.
Slide 18: 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 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of operating expenses to non-GAAP operating expenses 3Q 2023 2Q 2023 1Q 2023 4Q 2022 3Q 2022 (in thousands) Customer support and operations $21,190 $21,483 $19,931 $19,239 $18,142 Excluding: Stock-based compensation expense, net 386 419 205 220 226 Excluding: A
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of net loss to Adjusted EBITDA and calculation of 3Q 2023 2Q 2023 1Q 2023 4Q 2022 3Q 2022 Adjusted EBITDA Margin (in thousands, except for percentages) Net loss ($35,655) ($18,850) ($28,314) ($19,395) ($33,069) Add: Interest (income) expense, net (1,223) (776)
Slide 21: Thank you.
Thank you. November 2023 / © 2023 Remitly Inc.