Latest news with #MattOppenheimer
Yahoo
4 days ago
- Business
- Yahoo
Word of Mouth Fueling Our Business: Remitly CEO
Matt Oppenheimer, Remitly Co-Founder and CEO, says word-of-mouth is helping the business grow, as the company offers an affordable, fast, and convenient international person-to-person payment solution. He speaks with Romaine Bostick and Vonnie Quinn on "The Close" about how the business is improving the slow, outdated international payment system. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 days ago
- Business
- Bloomberg
Word of Mouth Fueling Our Business: Remitly CEO
Matt Oppenheimer, Remitly Co-Founder and CEO, says word-of-mouth is helping the business grow, as the company offers an affordable, fast, and convenient international person-to-person payment solution. He speaks with Romaine Bostick and Vonnie Quinn on 'The Close' about how the business is improving the slow, outdated international payment system. (Source: Bloomberg)
Yahoo
09-07-2025
- Business
- Yahoo
5 Must-Read Analyst Questions From Remitly's Q1 Earnings Call
Remitly entered 2025 with notable momentum, as the company's first quarter results were well received by the market. Management attributed the strong performance to a combination of expanding customer engagement, targeted product enhancements for high-value senders, and efficiency gains in marketing spend. CEO Matt Oppenheimer highlighted the company's ability to deliver 'frictionless experiences' and tailor send limits, which supported a significant increase in send volume per user. Additionally, improvements in direct partner integrations helped speed up transactions and lower costs, reinforcing Remitly's position in the digital remittance market. Is now the time to buy RELY? Find out in our full research report (it's free). Revenue: $361.6 million vs analyst estimates of $347.5 million (34.4% year-on-year growth, 4.1% beat) Adjusted EPS: $0.19 vs analyst estimates of $0.17 (11.9% beat) Adjusted EBITDA: $58.43 million vs analyst estimates of $39.15 million (16.2% margin, 49.2% beat) The company slightly lifted its revenue guidance for the full year to $1.58 billion at the midpoint from $1.57 billion EBITDA guidance for the full year is $202.5 million at the midpoint, above analyst estimates of $197.2 million Operating Margin: 3.4%, up from -7.4% in the same quarter last year Active Customers: 8.04 million, up 1.83 million year on year Market Capitalization: $3.74 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Tien-Tsin Huang (JPMorgan) asked about the drivers behind the increase in send volume per active user. CFO Vikas Mehta pointed to higher engagement, growth in high-amount senders, and tailored product experiences for larger transactions. Andrew Schmidt (Citi) inquired whether improvements in volume per user were driven by internal initiatives or environmental factors. Mehta replied that the growth was mainly self-driven, with cohort retention and product improvements providing high visibility and confidence. Chris Kennedy (William Blair) sought more detail on direct partner integrations and their benefits. CEO Matt Oppenheimer highlighted faster, lower-cost, and more reliable transactions, emphasizing the impact on customer experience and retention. Ramsey El-Assal (Barclays) asked about strategies to attract high-dollar and micro business customers. Oppenheimer described tailored marketing and product changes, including improved KYC (Know Your Customer) processes for specific segments. David Scharf (Citizens Capital Markets) questioned the sustainability of margin gains and potential one-time expense benefits. Mehta explained that Q1 benefited from efficient marketing, but investments would increase in Q2 and beyond to support long-term growth. Over the coming quarters, the StockStory team will monitor (1) the pace of adoption and transaction growth from high-amount senders and micro business customers, (2) the success of new market and product launches such as WhatsApp Send, and (3) the sustainability of operational efficiency gains as marketing and technology investments increase. Trends in customer retention and competitive dynamics in key corridors will also serve as important indicators of Remitly's execution. Remitly currently trades at $18.34, down from $21.09 just before the earnings. At this price, is it a buy or sell? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Geek Wire
30-05-2025
- Business
- Geek Wire
A world away in the heart of Seattle: Remitly's new HQ provides more room to collaborate — and grow
A gathering space at Remitly's new Seattle headquarters designed to invoke the city's Pike Place Market. (GeekWire Photo / Kurt Schlosser) It was only a three-block move across downtown Seattle, but it feels like a world away. Remitly, the digital remittance company, cut the ribbon on its new headquarters space at the gleaming Rainier Square skyscraper on Thursday, officially welcoming employees to their new home after several years at 1111 3rd Ave. But while the 14-year-old company is firmly rooted in the city's core, there are times inside the office where employees or visitors might feel like they're in Africa, Asia, the Middle East or Latin America. That feeling is intentional for a company that does global business, as executives spelled out the reasons for the move, why the space looks like it does, how it all works for employees, and why — even with a new office — a hybrid work model is still optimal. 'This space is a result of what we built together, and it's a huge energizer for thinking about what's next,' co-founder and CEO Matt Oppenheimer said from a 10th-floor gathering space designed to feel like Seattle's beloved Pike Place Market. What's next is more growth. Remitly co-founder and CEO Matt Oppenheimer, right, cuts the ribbon on the new office space on Thursday alongside Heather Rogers, Remity's principal program manager for real estate. (GeekWire Photo / Kurt Schlosser) With 2,800 employees at offices around the world, and more than 500 of them in Seattle, Remitly takes its commitment to its home city seriously. The new HQ occupies floors eight, nine and 10 at Rainier Square, and there are plans to take over floor seven next year, with room for 220 more workstations. From its initial startup days in Boise, Idaho, in 2011, across five or six headquarters spaces in the years since, Remitly has learned what works best when it comes to collaboration. The new space is big on all of the necessary tech-office perks and designs that foster such work, including dozens of meeting rooms, large conference spaces, dining areas, private booths and nooks, gathering spots of all kinds, quiet rooms, and even a low-lit space popular with developers called 'The Cave.' 'Our new office is a bold expression of our mission and our tribute to the global communities we serve,' said Heather Rogers, principal program manager for real estate, who has been at Remitly for 11 years. 'Every detail has been thoughtfully considered, linking our physical space to our purpose.' Meeting spaces of all kinds punctuate the layout of Remitly's new office. (GeekWire Photo / Kurt Schlosser) Indeed, while situated in the heart of Seattle, the office does its best to transport employees and visitors to cities in one of the 170 countries where Remitly does business. It starts at the 10th floor reception area, where a wall of video screens projects images of diverse people and places. A wall wrapped in tea leaves provides a subtle and pleasant aroma meant to transport visitors to a far-off destination. The lighting, plants, and color schemes all service the same goal. The three office floors are themed around regions of the world, such as North America, Latin America, Africa and Asia. Textiles, furniture, wallpaper, artwork and even the screensavers on meeting room monitors offer a colorful reminder of a diverse global community. Reinforcing culture in person The main reception area at Remitly features a video wall flashing images from around the world. (GeekWire Photo / Kurt Schlosser) In a post-pandemic era when remote and hybrid work styles are still a major consideration at many tech companies — and return-to-office mandates have been debated and protested at others — Remitly's requirement is that employees spend 50% of their time in-office. 'I think we learned that there's some work that just is done more effectively when we're together,' Oppenheimer said, adding that Remitly has always been intentional about culture and integrating it into the interview process, the performance review process and everything in between. 'We don't have to be in person all the time, but when we are it's really helpful to have the space that does accomplish that collaboration that we're shooting for,' Oppenheimer added. A recent report on trends in work styles showed that the structured hybrid model is still the dominant preference at U.S. companies, with 66% of firms requiring three days in office. Full-time in-office policies — such as Amazon's — increased to 33% in Q2. Meeting rooms at Remitly are named for cities around the world and windows are screened with images from those places. (GeekWire Photo / Kurt Schlosser) Chief Product and Technology Officer Ankur Sinha said workplace flexibility continues to be a net positive when it comes to recruitment of engineers. And the ability to collaborate in-office with teams or find suitable spaces for intense focus are also beneficial to Remity's retention efforts. Tech spaces have come a long way from the days of ping-pong and free beer on tap. 'I don't know if that's why people choose to join a job now, as they used to before, when Google popularized this whole notion of stay-at-work culture,' Sinha said, adding that if someone needs a ping-pong break after coding for half the day, that's great. Rainier Square, located at 1320 4th Ave., is one of the Seattle's newest skyscrapers. Amazon originally planned to occupy 30 floors but backed out in 2019, putting the high-profile 58-story building on the sublease market. PCC Community Markets, which originally had a full-format store at the base of the tower, left in 2023, but is set to return with a smaller store this summer. Oppenheimer said it's important to him and Remitly to have a strong presence in downtown Seattle amid the city's efforts to bounce back from the pandemic. 'I think it's a bit of self-reinforcing,' Oppenheimer said of revitalizing the city's core. More workers mean more restaurants, more energy, etc. 'We care deeply about safety. We care deeply about public transport. Given our scale and size we do want to be part of the solution, working with the city in some of those areas.' Beyond its growing footprint, Remitly is also seeing rising earnings. It reported first-quarter revenue of $361.6 million, up 34% year-over-year, with a net income of $11.4 million, up from a net loss of $21.1 million in the year-ago period. The company increased send volume on its platform by 41% to $16.2 billion. Keep scrolling for more photos from GeekWire's Remitly office tour: Employees gather in Remity Market during the company's official office opening party on Thursday. (GeekWire Photo / Kurt Schlosser) Remitly CEO Matt Oppenheimer officially welcomes employees to their new home at Rainier Square. (GeekWire Photo / Kurt Schlosser) Employees grab food during Thursday's party in the Remitly Market. (GeekWire Photo / Kurt Schlosser) A lush corner of the Remitly office with views of downtown Seattle and Elliott Bay. (GeekWire Photo / Kurt Schlosser) A nod to Remitly's hometown in the 10th floor elevator bank. (GeekWire Photo / Kurt Schlosser) A space called 'The Cave' at Remitly offers exceptionally low light for employees who prefer such settings for focus. (GeekWire Photo / Kurt Schlosser) A wall in the main reception area is wrapped in tea leaves to provide a subtle and pleasant aroma. (GeekWire Photo / Kurt Schlosser) Curved archways add a design touch to gathering spaces throughout the Remitly office. (GeekWire Photo / Kurt Schlosser) A food and dining space on one of the Remitly office floors. (GeekWire Photo / Kurt Schlosser) Private pods sit among traditional desks in the Remitly space. (GeekWire Photo / Kurt Schlosser) The unique shape of Rainier Tower, next door to Rainier Square, is visible from Remitly's offices. (GeekWire Photo / Kurt Schlosser) Remitly's main reception area. (GeekWire Photo / Kurt Schlosser)
Yahoo
10-05-2025
- Business
- Yahoo
Why Remitly Stock Popped Today
Remitly delivered strong results on the top and bottom lines in the fourth quarter. The business is scaling effectively and expects to be GAAP profitable this year. Its growth pipeline looks strong after a 26% jump in send volume. 10 stocks we like better than Remitly Global › Shares of Remitly Global (NASDAQ: RELY) were moving higher today after the remittance specialist beat estimates in the first-quarter report and raised its revenue forecast for the year. As of 12:36 p.m. ET, the stock was up 11% on the news. Remitly, which provides a platform for cross-border payments, continued to deliver solid growth. Its active customer base rose 29% to 8 million, driving send volume up 41% to $16.2 billion. As a result, revenue rose 34% to $361.6 million, which was well ahead of the consensus at $347.5 million. Remitly also reported impressive margin expansion, as adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 157% to $58.4 million, while net income reached $11.4 million, up from a loss of $21.1 million. On a per-share basis, the company reported a profit of $0.05 on a generally accepted accounting principles (GAAP) basis. CEO Matt Oppenheimer said: "We delivered an outstanding start to the year, significantly exceeding our expectations for the first quarter. This performance was driven by the deep and growing trust our customers place in us to deliver a fast, reliable, and secure experience." Looking ahead, Remitly issued strong guidance, calling for revenue growth of 25%-26% to $1.574 billion-$1.587 billion, up from a previous range of $1.565 billion-$1.58 billion. It also said it would have positive net income on a GAAP basis, and sees adjusted EBITDA of $195 million-$200 million, up from an earlier range of $180 million-$200 million. Remitly continues to grab market share from legacy operators like Western Union and MoneyGram, and the future looks bright. The GAAP profitability is also a promising sign for a stock that has a lot of upsides, with its market cap at less than $5 billion currently. Before you buy stock in Remitly Global, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Remitly Global wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $623,103!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $717,471!* Now, it's worth noting Stock Advisor's total average return is 909% — a market-crushing outperformance compared to 162% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 5, 2025 Jeremy Bowman has positions in Remitly Global. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Remitly Stock Popped Today was originally published by The Motley Fool Sign in to access your portfolio
