Remitly Global Grows Revenue But Operating Losses Worsen

Oct. 08, 2022 2:58 AM ETRemitly Global, Inc. (RELY) StockRELY1 Comment

Summary

  • Remitly Global went public in September 2021, raising approximately $523 million in a U.S. IPO.
  • The firm enables consumers to send and receive money internationally.
  • RELY has grown revenue impressively, but operating losses are high and increasing.
  • The current rising cost of capital environment has severely punished money-losing tech stocks.
  • Until management makes a significant move toward operating breakeven, I'm on Hold for RELY.
  • Looking for more investing ideas like this one? Get them exclusively at IPO Edge. Learn More »

Businessman using mobile online banking and payments, Digital marketing. Finance and banking network. Online shopping and icon customer networking connection on virtual screen, cyber security. Business technology concept

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A Quick Take On Remitly Global

Remitly Global (NASDAQ:RELY) went public in September 2022, raising approximately $523 million in gross proceeds from an IPO that priced at $43.00 per share.

The firm provides a range of cross-border payment

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This article was written by

21.09K Followers

Donovan Jones is a research specialist with 15 years of experience identifying opportunities for IPOs and public software companies.

He also leads the investing group IPO Edge, which offers actionable information on growth stocks through first-look IPO filings, previews on upcoming IPOs, an IPO calendar for tracking what’s on the horizon, a database of U.S. IPOs, and a guide to IPO investing to walk you through the entire IPO lifecycle - from filing to listing to quiet period and lockup expiration dates.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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