Similar companies
Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 337M | 10.1% |
| Gross Profit | 209M | 15.2% |
| Cost of Revenue | 127M | 2.6% |
| Operating expense | 196M | 2.2% |
| Net Income | 1.9M | 115.9% |
| EBITDA | 6.2M | 190.8% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 970M | 2.1% |
| Total Liabilities | 340M | 8.5% |
| Total Equity | 631M | 9% |
| Shares Outstanding | 198M | 1.5% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 147M | 200.1% |
| Cash from investing | -3.9M | 8.1% |
| Cash from financing | -10M | 92.9% |
EPS
Financial Highlights for Remitly in Q3 '24
Remitly reported a revenue of 337M, which is a 10.1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 209M, marking a 15.2% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 127M, a 2.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 196M, showing a 2.2% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 1.9M, showing a 115.9% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 6.2M, showing a 190.8% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Remitly with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
