RELYRemitly Global, Inc.
Services-Business Services, NEC
- Revenue
- $1.6B
- 29% YoY
- Operating margin
- 4.7%
- 253% YoY
- EBITDA
- $103M
- 587% YoY
- Market cap
- $5.1B
- Employees
- 3,200
- $511K revenue each
- Net debt / EBITDA
- -6.6×
- −$676M net debt
- AI in 10-K
- 7.5
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$296K medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo479% of net incomeCash flow under 80% of net income
- Dilutive SBCNo9% of revenueOver 10% of revenue
- Payouts exceed cash flowNo7% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentYes69% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$511K · 58th pctBottom quartile of its SIC industry
- Quiet on AINo7.5 per 10K words · 89th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 6.6× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedNo$5.1B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$234M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $459M | $654M | $944M | $1.3B | $1.6B | 29% |
| Operating income | −$40M | −$121M | −$114M | −$39M | $77M | 298% |
| Net income | −$39M | −$114M | −$118M | −$37M | $68M | 284% |
| Operating cash flow | −$18M | −$109M | $67M | $112M | $325M | 191% |
| Capex | $2M | $4M | $3M | $6M | $29M | 391% |
| Stock-based comp | $17M | $95M | $137M | $152M | $155M | 2.0% |
| Buybacks | $0 | — | $0 | $0 | $24M |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $234M · 72
- Net
- −$234M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $296K | $359K | 28 | 121 |
| FY2024 | $296K | −$689K | 47 | 117 |
| FY2023 | $291K | $7M | 40 | 88 |
| FY2022 | $293K | −$15M | 24 | 66 |
| FY2021 | $9M | $31M | 43 | 97 |