Remitly Global, Inc. (RELY) Q1 2025 Earnings Call

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WEBVTT 00:00:00.151 -- 00:00:03.354 filings for more information regarding the risk factors that may affect results. 00:00:03.354 -- 00:00:06.957 Any forward-looking statements made in this conference call, including responses to your 00:00:06.957 -- 00:00:11.661 questions, are based on current expectations as of today and remitly assumes no obligation 00:00:11.661 -- 00:00:15.705 to update or revise them, whether as a result of new developments or otherwise, except 00:00:15.705 -- 00:00:20.089 as required by law. The following presentation contains non-GAAP financial measures. 00:00:20.089 -- 00:00:25.012 We will reference non-GAAP operating expenses and adjusted EBITDA in this call. 00:00:25.012 -- 00:00:29.216 These metrics exclude items such as stock-based compensation, payroll taxes related to 00:00:29.216 -- 00:00:34.300 stock-based compensation, pledge 1% contribution, integration restructuring and other 00:00:34.300 -- 00:00:38.563 costs, and other income and expense. As previously announced on our last earnings call, 00:00:38.563 -- 00:00:43.888 beginning in Q1, our non-GAAP financial measures exclude payroll taxes related to stock-based 00:00:43.888 -- 00:00:45.369 compensation. 00:00:45.369 -- 00:00:49.452 This update is intended to improve the usefulness of our non-GAAP financial measures 00:00:49.452 -- 00:00:54.547 in evaluating underlying operating performance by more completely reflecting the extent 00:00:54.547 -- 00:00:57.209 of stock-based compensation and related impacts. 00:00:57.209 -- 00:01:01.011 We have updated our historical periods for consistency. 00:01:01.011 -- 00:01:04.953 For reconciliation of non-GAAP financial measures to the most directly comparable GAAP 00:01:04.953 -- 00:01:09.296 metrics, please see the earnings press release and...