Remitly Global (RELY) J.P. Morgan 54th Annual Global Technology, Media and Communications Conference summary

Key leadership insights and strategic priorities

• New CEO highlighted a strong, mission-driven culture and significant market opportunities, especially in underserved and adjacent markets.

• AI is seen as a major tailwind, enabling faster product development, operational efficiency, and improved customer trust.

• Leadership is focused on increasing the cadence of product releases and leveraging small, agile teams.

• Recent workforce reduction was broad-based, aimed at redeploying resources to growth areas and maintaining cost discipline.

• Savings from cost initiatives are being balanced between reinvestment in growth and improvements to the bottom line.

Product and growth accelerators

• Expansion into high-value senders, business customers, and receivers is prioritized, with dedicated teams for each segment.

• New products like send now, pay later, debit cards, and multicurrency accounts are being tested and rolled out.

• Product development is anchored on the core remittance business, with plans to expand into lending, spending, and saving services.

• Growth accelerators are expected to drive stronger performance in the second half of the year and beyond.

• M&A and partnerships are being considered for future expansion, with a focus on building internal capabilities first.

Financial performance and operational efficiency

• Strong Q1 performance sets a solid foundation for the year, with linear growth expected across quarters.

• Incremental margin expansion is anticipated, supported by disciplined investment and redeployment of savings.

• Transaction expenses and losses have improved due to AI and machine learning, with potential for further reductions.

• Stablecoins are used selectively for settlement where cost-effective, but fiat rails remain dominant.

• Customer acquisition costs are expected to remain stable or decrease, with AI-driven marketing efficiencies.