Remitly Global, Inc. · NASDAQ:RELY
Remitly Global — Q4 2022 Earnings Presentation
26 slides from Remitly Global's earnings presentation, Feb 22, 2023
Slide 1: Fourth Quarter 2022 Earnings Investor Presentation
February 2023 / © 2023 Remitly Inc. 1 Investor Presentation Fourth Quarter 2022 Earnings February 22, 2023
Slide 2: Disclosures: Forward-Looking Statements
February 2023 / © 2023 Remitly Inc. 2 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
Slide 3: 4Q Strategic Overview
February 2023 / © 2023 Remitly Inc. 4Q Strategic Overview 3 Matt Oppenheimer Co-Founder & CEO
Slide 4: Resilient customers, premium product and increasing returns on investments
February 2023 / © 2023 Remitly Inc. Resilient and predictable customer behavior Customer experience getting even better with scale Consistent track record of beating expectations/execution Focused on increasing returns on investments 4 Resilient customers, premium product and increasing returns on i
Slide 5: Customer peace of mind + premium experience
February 2023 / © 2023 Remitly Inc. 5 Customer peace of mind + premium experience 2,8362,836 3,042 3,419 4,188 3,818 +48% YoY Quarterly Active Customers (thousands) Revenue Contribution by Cohort Exceptionally strong acquisition at compelling unit economics Geographic expansion Continued customer lo
Slide 6: High return investments drive sustainable growth and enhance customer loyalty
February 2023 / © 2023 Remitly Inc. High return investments drive sustainable growth and enhance customer loyalty and engagement 6 New customer acquisition Geographical expansion Driving efficient customer growth Remittance product enhancements Complementary new products Driving higher retention and
Slide 7: Customer acquisition enabled by sophisticated and localized marketing
February 2023 / © 2023 Remitly Inc. Customer acquisition enabled by sophisticated and localized marketing 7 Brand awareness Scale drives increasing word of mouth Localization at scale
Slide 8: Expanding into growth markets; entered key UAE market in January
February 2023 / © 2023 Remitly Inc. Expanding into growth markets; entered key UAE market in January 8 +4,300 corridors ~4.0b bank accounts +435k cash pickup locations ~1.1b mobile wallets +170 Countries & Territories Data as of 12/31/22. https://mapchart.net/world.html 4Q22: {"groups":{"#cc3333":{"
Slide 9: Our revenue mix has become more globally diversified
February 2023 / © 2023 Remitly Inc. Our revenue mix has become more globally diversified 2020 v. 2022 Revenue Mix 9 2020 2022 $199m 77% CAGR USA Canada Rest of World $30m $28m $473m $80m $101m CAGR 54% 64% 89%
Slide 10: Delivering a more premium customer experience as we scale
February 2023 / © 2023 Remitly Inc. 10 In 2022, 25% of customers resolved issues via self help vs. 4.7% in 2016 - How about this: Use of self help has increased 5x since 2016 90% of transactions delivered in less than an hour - X% of transactions are express (either 4Q or 2022 data) Perfect Delivery
Slide 11: Incredible opportunity to drive even more customer loyalty
February 2023 / © 2023 Remitly Inc. Incredible opportunity to drive even more customer loyalty 11 Solving complementary problems to the remittance problem we’re already solving Narrowing focus Increased customer value Long-term customer engagement Highly defensible competitive advantage
Slide 12: In 2023, we plan to continue to execute strongly toward our Strategic Priorities
February 2023 / © 2023 Remitly Inc. In 2023, we plan to continue to execute strongly toward our Strategic Priorities and delivering long-term returns $257.0 12 New customer acquisition Geographical expansion Remittance product enhancements Complementary new products Highly disciplined on CAC with va
Slide 13: Vision
February 2023 / © 2023 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: 4Q Financial Results
February 2023 / © 2023 Remitly Inc. 14 4Q Financial Results Hemanth Munipalli CFO
Slide 15: 4Q — Strong financial performance
February 2023 / © 2023 Remitly Inc. 4Q — Strong financial performance SCALE 4.2m 48% growth in quarterly active customers over 4Q 2021 $8.1b 35% growth in send volume over 4Q 2021 REVENUE $191m 41% growth in revenue over 4Q 2021 15 PROFITABILITY ($19m) GAAP Net Loss $7.5m Adjusted EBITDA Adjusted EB
Slide 16: 4Q22 year-over-year change: execution wins and macro factors
February 2023 / © 2023 Remitly Inc. 1. Other operating expenses are non-GAAP measures and include non-GAAP customer support and operations expense, non-GAAP general and administrative expense and non-GAAP technology and development expense. Please see reconciliation of non-GAAP measures to the most
Slide 17: Four key focus areas to drive sustainable, long-term returns
February 2023 / © 2023 Remitly Inc. 17 Deliver Scale Efficiencies in Other Opex1 Strong Revenue Growth Note: $ in millions 1 Non-GAAP operating expenses include non-GAAP customer support and operations expense, non-GAAP general and administrative expense and non-GAAP technology and development expen
Slide 18: 2023 Outlook
February 2023 / © 2023 Remitly Inc. 2023 Outlook Strong revenue growth and scale efficiencies enabling higher returns Key 2023 Expectations ● Macro and FX environment stable to 4Q22 ● Sustained marketing efficiencies in relatively stable advertising market ● Improved scale efficiencies; continued in
Slide 19: Strong balance sheet to fund strategic growth priorities
February 2023 / © 2023 Remitly Inc. Complementary new products Remittance product enhancements Geographical expansion New customer acquisition Strong balance sheet to fund strategic growth priorities As of 12/31/22 ~$300m Cash 19 $0m Debt
Slide 20: Q & A
February 2023 / © 2023 Remitly Inc. Q & A 20
Slide 21: Customer testimonial: James, Remitly user since 2022
February 2023 / © 2023 Remitly Inc. “ James Remitly user since 2022 Sends money from USA to Kenya It is an easy, efficient, and fast way to send money. I would recommend it - and have done so - to others.
Slide 22: Appendix
February 2023 / © 2023 Remitly Inc. Appendix 22
Slide 23: Non-GAAP financial information
February 2023 / © 2023 Remitly Inc. 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 k
Slide 24: Reconciliation of operating expenses to non-GAAP operating expenses
February 2023 / © 2023 Remitly Inc. Reconciliation of operating expenses to non-GAAP operating expenses (in thousands) 4Q 2022 3Q 2022 2Q 2022 1Q 2022 4Q 2021 Customer support and operations $19,239 $18,142 $16,855 $13,870 $13,090 Excluding: Stock-based compensation expense, net 220 226 277 93 76 No
Slide 25: Reconciliation of net loss to Adjusted EBITDA
February 2023 / © 2023 Remitly Inc. 25 Non-GAAP Reconciliation Reconciliation of net loss to Adjusted EBITDA (in thousands) 4Q 2022 3Q 2022 2Q 2022 1Q 2022 4Q 2021 Net loss ($19,395) ($33,069) ($38,245) ($23,310) ($16,576) Add: Interest (income) expense, net (1,947) (1,070) (107) 277 (160) Provision
Slide 26: Thank you.
February 2023 / © 2023 Remitly Inc. Thank you.