Q2 26 EPS GAAP
$0.93
BEAT +196.27%
Est. $0.31
Includes a $140.6 million discrete tax benefit from the U.S. valuation allowance release, which contributed to a $(141,264) thousand benefit from income taxes in Q2 2026 versus $1,578 thousand provision in Q2 2025
Q2 26 Revenue
$495.2M
BEAT +1.89%
Est. $486.0M
vs S&P Since Q2 26
-3.9%
TRAILING MARKET
RELY -3.3% vs S&P +0.6%
Market Reaction
Did RELY Beat Earnings? Q2 2026 Results
Remitly Global delivered a decisive beat in the second quarter of 2026, with revenue of $495.16 million rising 20.2% year over year and clearing the $485.97 million consensus by 1.89%, while GAAP EPS of $0.93 came in well above the $0.31 analyst esti… Read more Remitly Global delivered a decisive beat in the second quarter of 2026, with revenue of $495.16 million rising 20.2% year over year and clearing the $485.97 million consensus by 1.89%, while GAAP EPS of $0.93 came in well above the $0.31 analyst estimate, a 196.27% beat. That reported EPS figure, however, reflects GAAP results that include a $140.60 million discrete tax benefit from the release of the company's U.S. Deferred tax asset valuation allowance, which produced a $141.26 million income tax benefit in the quarter versus a $1.58 million provision a year ago. Setting aside the tax item, the underlying business showed genuine operating momentum, with Adjusted EBITDA expanding 79% to $114.74 million and transaction margin widening 235 basis points to 67.4% on improved network economics. Quarterly active customers crossed 10 million for the first time, reaching 10.2 million, and the recently launched Remitly Global Card, a multi-function product targeting cross-border workers, adds a potential long-term revenue layer to the platform. Management raised its full-year 2026 revenue outlook to $1.98 billion to $1.99 billion and lifted Adjusted EBITDA guidance to $410 million to $415 million.
Key Takeaways
- • Active customers grew 20% YoY to 10.2 million
- • Send volume grew 27% YoY to $23.5 billion
- • Transaction margin expanded 235 basis points YoY to 67.4%
- • Lower transaction expenses from improved network economics
- • Lower transaction losses as a percentage of send volume
- • AI-driven operating efficiencies across customer support, technology, and G&A
- • 80%+ of customers added in Q2 were new to Remitly
- • $140.6 million discrete tax benefit from U.S. valuation allowance release boosted net income
RELY Forward Guidance & Outlook
For fiscal year 2026, Remitly raised its outlook and now expects total revenue of $1.978 billion to $1.988 billion (21-22% YoY growth), year-over-year growth in net income, and Adjusted EBITDA of $410 million to $415 million (approximately 21% Adjusted EBITDA margin). For Q3 2026, the company expects revenue of $505 million to $507 million (20-21% YoY growth) and Adjusted EBITDA of $92 million to $94 million (18-19% Adjusted EBITDA margin).
RELY YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“We delivered another excellent quarter, achieving record revenue, Adjusted EBITDA, and net income, while surpassing 10 million quarterly active customers for the first time in our company's history, a direct reflection of the trust and confidence customers place in Remitly.”
— Sebastian Gunningham, Q2 2026 Earnings Press Release
RELY Earnings Trends
RELY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RELY EPS Trend
Earnings per share: estimate vs actual
RELY Revenue Trend
Quarterly revenue: estimate vs actual
RELY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT Includes a $140.6 million discrete tax benefit from the U.S. valuation allowance release, which contributed to a $(141,264) thousand benefit from income taxes in Q2 2026 versus $1,578 thousand provision in Q2 2025 | $0.31 | $0.93 | +196.27% | $495.2M | +1.89% |
| Q1 26 MISS | $0.29 | $0.23 | -21.07% | $452.8M | +3.18% |
| Q4 25 BEAT FY | $0.16 | $0.19 | +20.56% | $442.2M | +3.49% |
| FY Full Year | — | $0.31 | — | $1.64B | — |
| Q3 25 MISS | $0.18 | $0.04 | -77.40% | $419.5M | +1.39% |
| Q2 25 MISS | $0.18 | $0.03 | -83.67% | $411.9M | +7.13% |