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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Remitly’s operating growth remained strong in its second quarter of 2026: revenue rose 20% year over year, send volume rose 27%, and quarterly active customers topped 10 million. But the headline $205.9 million net income included a $140.6 million discrete tax benefit, while management flagged volatile transaction losses, second-half marketing investment and a temporary Q3 headwind. Those facts help investors assess the business; they do not establish why Remitly shares fell in September or how large the decline was.
Why did Remitly stock fall in September?
The available reporting describes a pullback after a strong summer run, but does not provide a verified percentage decline for September based on a defined set of trading dates. Without that price series, the size of the monthly move cannot be stated precisely. Nor do the company’s results or management’s comments prove what caused investors to sell.
On September 9, Remitly announced an arrangement with Etsy, and executives discussed business risks and investment plans at a Goldman Sachs conference. These developments offer context, not a demonstrated explanation for the share-price move. Investors may weigh operating risks when valuing a company, but attributing a particular decline to transaction losses, marketing, Indian foreign-exchange measures or the Etsy arrangement would go beyond the evidence. MarketBeat’s October 2, 2026 coverage frames the pullback but does not establish a verified monthly return or its cause.
Is Remitly’s growth still strong?
In the quarter ended June 30, 2026, Remitly reported growth in customers, transfer volume and revenue. The figures below compare Q2 2026 with Q2 2025, as reported in the company’s August 5 release.
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| Q2 2026 measure | Reported result | Year-over-year change |
|---|---|---|
| Quarterly active customers | 10.2 million | Up 20% |
| Send volume | $23.5 billion | Up 27% |
| Revenue | $495.2 million | Up 20% |
| Adjusted EBITDA | $114.7 million | Up 79% |
These results support the view that Remitly’s core operating momentum was substantial in Q2. They do not, by themselves, establish that the same pace will continue or that the stock was attractively valued. Remitly’s August 5, 2026 earnings release includes the reported results and reconciliations.
Does Remitly’s earnings growth include a one-time benefit?
Yes. Remitly reported Q2 GAAP net income of $205.9 million, including a $140.6 million discrete tax benefit from releasing a U.S. valuation allowance. That benefit materially shaped the quarter’s net-income figure, so the reported result should not be read as if all of it came from recurring operations.
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Adjusted EBITDA was $114.7 million, up 79% year over year. It is a non-GAAP measure: Remitly says it should be considered alongside, not instead of, GAAP results, financial statements and reconciliations. The two measures answer different questions; neither should be substituted for the other.
What outlook did Remitly give for 2026?
In its August 5, 2026 release, Remitly raised its full-year outlook. The ranges below are guidance issued on that date, not reported outcomes or a fresh October reaffirmation.
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| Period and measure | August 5, 2026 guidance |
|---|---|
| Full-year 2026 revenue | $1.978 billion to $1.988 billion; expected growth of 21% to 22% |
| Full-year 2026 Adjusted EBITDA | $410 million to $415 million |
| Q3 2026 revenue | $505 million to $507 million |
| Q3 2026 Adjusted EBITDA | $92 million to $94 million |
To judge execution, investors need subsequent reported results and should compare them with these dated ranges. The guidance is a management forecast, not a guarantee.
What operating risks did management flag?
At the September 9, 2026 Goldman Sachs Communacopia + Technology Conference, CFO Vikas Mehta described transaction losses as volatile and said marketing would be an area of focus in the second half. He also discussed a temporary Q3 headwind tied to an unusual pattern in cross-border flows associated with Indian government foreign-exchange measures. These were management’s descriptions of business conditions; the transcript does not show that they caused the stock’s September pullback. Stock Analysis’ conference transcript attributes the remarks to the September 9 event.
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Remitly’s SEC-filed Q2 2026 earnings presentation also lists risks including acquiring and retaining customers, sustaining profitability, strategic relationships, regulatory change, money-transmission licenses, service security and availability, and geopolitical or macroeconomic conditions. Those risks matter to the durability of growth even when a quarter’s headline metrics are strong. The SEC filing archive for Remitly contains the company’s filed materials.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Can Etsy and new products broaden Remitly’s growth?
Remitly announced on September 9 that new sellers on Etsy in 15 countries may choose to receive local payment through Remitly’s cross-border network. This creates a potential partnership channel, but the announcement does not show that it has already made a material contribution to companywide revenue or profit.
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The company’s Q2 2026 earnings presentation says its Remitly Global Card had launched in the United States and select international markets, and that it had more than 25,000 active businesses in Q2. At the conference, CEO Sebastian Gunningham described partnerships and the card business as part of a revenue-diversification effort. Launches and customer counts are evidence of activity, not proof yet of material financial impact.
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| Question | What supports the growth case | What investors still need to assess |
|---|---|---|
| Operating momentum | Q2 customers, send volume and revenue all grew year over year. | Whether growth can continue and translate into durable profits. |
| Earnings quality | Q2 Adjusted EBITDA rose 79% year over year. | Net income included a sizeable discrete tax benefit; Adjusted EBITDA is non-GAAP. |
| Guidance execution | Management raised its 2026 revenue outlook on August 5. | Results reported later must be compared with the dated revenue and Adjusted EBITDA ranges. |
| Investment and losses | Marketing can support customer acquisition and growth. | Management flagged second-half marketing investment and volatile transaction losses. |
| Diversification | The Etsy arrangement, card and business offering provide avenues to expand. | Their contribution to companywide financial results is not established by the cited announcements. |
| Share performance and valuation | A strong operating quarter provides business context. | A defined September price series and a separately sourced valuation snapshot are needed to assess the stock move and valuation. |
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