RE RELY Remitly Global, Inc. Loading... : Investor Sentiment and Bull/Bear Views

The author argues Remitly's corridor-specific digital remittance network, including completing 84% of transfers in under 60 seconds, supports more than 10% annual send-volume growth and operating leverage toward 25% margins. At a $4B EV and roughly $625M of 2028 operating income, he says the shares trade at 6-7x two-year-out earnings and are "just too cheap." No explicit downside risk is stated.

Remitly is the digital native Western Union killer for migrant remittances. It has built strong brand trust and mind share in migrant communities, with send volumes growing 30-40% annually and revenue growing 25%. Take rates are slowly declining but volume and electronification of cash provide long-duration growth.

Pernas calls Remitly a generational company that is still hugely undervalued at about 2.5x sales, despite its growth and its year-to-date gain. He says it is not really competing with Wise. Remitly serves migrants, with average sends about 20% of Wise's, while Wise focuses on developed markets and businesses. He thinks fears about immigration policy and stablecoins are overblown. Its volume comes from citizens and legal migrants, and recipients still want fiat. Low fertility in developed countries should keep demand for migrants high. Adjusted EBITDA margins rose from about 10% to about 20% in a year as the business scales.