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    Remitly Reports Fourth Quarter and Full Year 2024 Results Above Outlook

    2/19/25 4:05:00 PM ET
    $RELY
    Business Services
    Consumer Discretionary
    Get the next $RELY alert in real time by email

    Fourth quarter active customers up 32% and revenue up 33% year over year

    Fourth quarter net loss was $5.7 million and Adjusted EBITDA was $43.7 million

    SEATTLE, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ:RELY), a trusted provider of digital financial services that transcend borders, reported results for the fourth quarter and full year ended December 31, 2024.

    "We delivered an exceptional fourth quarter and full year, exceeding expectations, as our product strength and customer loyalty drove durable growth and improving profitability," said Matt Oppenheimer, co-founder and Chief Executive Officer, Remitly. "Our product experience continues to resonate with customers as we deliver simplicity, convenience, and trust. As we look ahead to 2025 and beyond, I am excited about the growth opportunities and innovation that will enable us to deliver on our vision."

    Fourth Quarter 2024 Highlights and Key Operating Data

    (All comparisons relative to the fourth quarter of 2023)

    • Active customers increased to 7.8 million, from 5.9 million, up 32%.
    • Send volume increased to $15.4 billion, from $11.1 billion, up 39%.
    • Revenue totaled $351.9 million, compared to $264.8 million, up 33%.
    • Net loss was $5.7 million, compared to a net loss of $35.0 million.
    • Adjusted EBITDA was $43.7 million, compared to $8.2 million, up 434%.

    Full Year 2024 Highlights and Key Operating Data:

    (All comparisons relative to the full year 2023)

    • Send volume increased to $54.6 billion, from $39.5 billion, up 38%.
    • Revenue totaled $1,264.0 million, compared to $944.3 million, up 34%.
    • Net loss was $37.0 million, compared to a net loss of $117.8 million.
    • Adjusted EBITDA was $134.8 million, compared to $44.5 million, up 203%.

    2025 Financial Outlook

    For fiscal year 2025, Remitly currently expects:

    • Total revenue in the range of $1.565 billion to $1.580 billion, representing a growth rate of 24% to 25% year over year.
    • GAAP net income to be positive for 2025 and for Adjusted EBITDA to be in the range of $180 million to $200 million.

    For the first quarter of 2025, Remitly currently expects:

    • Total revenue in the range of $345 million to $348 million, representing a growth rate of 28% to 29% year over year.
    • A GAAP net loss position for the first quarter of 2025 and for Adjusted EBITDA to be in the range of $36 million to $40 million.

    Reconciliation of GAAP to Non-GAAP Financial Measures

    A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this earnings release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures." We have not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this earnings release because we cannot, without unreasonable effort, calculate certain reconciling items with confidence due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. These items include, but are not limited to, income taxes and stock-based compensation expense, which are directly impacted by unpredictable fluctuations in the market price of our common stock. The variability of these items could have a significant impact on our future GAAP financial results.

    Note: All percentage changes described within this press release are calculated using amounts in the Company's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the "SEC"), for which revenue and active customers are presented in thousands and send volume is presented in millions. Rounding differences may occur when individually calculating percentages or totals from rounded amounts included within the press release body as compared to the amounts included within the Company's SEC filings.

    Webcast Information

    Remitly will host a webcast at 5:00 p.m. Eastern time on Wednesday, February 19, 2025 to discuss its fourth quarter and full year 2024 financial results. The live webcast and investor presentation will be accessible on Remitly's website at https://ir.remitly.com. A webcast replay will be available on our website at https://ir.remitly.com following the live event.

    We have used, and intend to continue to use, the Investor Relations section of our website at https://ir.remitly.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

    Non-GAAP Financial Measures

    Some of the financial information and data contained in this earnings release, such as Adjusted EBITDA and non-GAAP operating expenses, have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). We regularly review our key business metrics and non-GAAP financial measures to evaluate our performance, identify trends affecting our business, prepare financial projections, and make strategic decisions. We believe that these key business metrics and non-GAAP financial measures provide meaningful supplemental information for management and investors in assessing our historical and future operating performance. Adjusted EBITDA and non-GAAP operating expenses are key output measures used by our management to evaluate our operating performance, inform future operating plans, and make strategic long-term decisions, including those relating to operating expenses and the allocation of internal resources. Remitly believes that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing Remitly's financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. Remitly's non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented herein in conjunction with Remitly's financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this press release for a reconciliation of these non-GAAP financial measures to the most comparable financial measure prepared in accordance with GAAP.

    We calculate Adjusted EBITDA as net loss adjusted by (i) interest (income) expense, net, (ii) provision for income taxes, (iii) noncash charges of depreciation and amortization, (iv) gains and losses from the remeasurement of foreign currency assets and liabilities into their functional currency, (v) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment, (vi) noncash stock-based compensation expense, net, and (vii) certain acquisition, integration, restructuring, and other costs. We calculate non-GAAP operating expenses as our GAAP operating expenses adjusted by (i) noncash stock-based compensation expense, net, (ii) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment, as well as (iii) certain acquisition, integration, restructuring, and other costs.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding our future results of operations and financial position, including our fiscal year and first quarter 2025 financial outlook, including forecasted fiscal year and first quarter 2025 revenue, net income (loss), and Adjusted EBITDA, anticipated future expenses and investments, expectations relating to certain of our key financial and operating metrics, our business strategy and plans, our growth, our position and potential opportunities, and our objectives for future operations. The words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "likely," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions and the negatives of those terms are intended to identify forward-looking statements. Forward-looking statements are based on management's expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to our expectations regarding our revenue, expenses, and other operating results; our ability to acquire new customers and successfully retain existing customers; our ability to develop new products and services in a timely manner; our ability to achieve or sustain our profitability; our ability to maintain and expand our strategic relationships with third parties; our business plan and our ability to effectively manage our growth; anticipated trends, growth rates, and challenges in our business and in the market segments in which we operate; our ability to attract and retain qualified employees; uncertainties regarding the impact of geopolitical and macroeconomic conditions, including currency fluctuations, inflation, regulatory changes (including as may be related to immigration, fiscal policy, foreign trade, or foreign investment), or regional and global conflicts or related government sanctions; our ability to maintain the security and availability of our solutions; our ability to maintain our money transmission licenses and other regulatory clearances; our ability to maintain and expand international operations; and our expectations regarding anticipated technology needs and developments and our ability to address those needs and developments with our solutions. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, our actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results is included in our annual report on Form 10-K for the year ended December 31, 2024 to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2023 filed with the SEC, which are or will be available on our website at https://ir.remitly.com and on the SEC's website at www.sec.gov. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

    About Remitly

    Remitly is a trusted provider of digital financial services that transcend borders. With a global footprint spanning more than 170 countries, Remitly's digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience. Building on its strong foundation, Remitly is expanding its suite of products to further its vision and transform lives around the world.

    Contacts

    Media:

    Kendall Sadler

    [email protected]

    Investor Relations:

    Stephen Shulstein

    [email protected]

    REMITLY GLOBAL, INC.
    Condensed Consolidated Statements of Operations
    (unaudited)
     
     Three Months Ended December 31, Twelve Months Ended December 31,
    (in thousands, except share and per share data)2024

     2023

     2024

     2023

    Revenue$351,895  $264,758  $1,263,963  $944,285 
    Costs and expenses       
    Transaction expenses(1) 118,389   89,118   431,604   329,113 
    Customer support and operations(1) 22,008   19,917   83,918   82,521 
    Marketing(1) 83,937   75,343   303,799   234,417 
    Technology and development(1) 70,611   59,240   269,817   219,939 
    General and administrative(1) 54,875   48,657   195,857   179,372 
    Depreciation and amortization 5,814   3,484   18,054   13,118 
    Total costs and expenses 355,634   295,759   1,303,049   1,058,480 
    Loss from operations (3,739)  (31,001)  (39,086)  (114,195)
    Interest income 1,844   2,247   8,077   7,447 
    Interest expense (967)  (786)  (3,241)  (2,352)
    Other income (expense), net (2,273)  (64)  3,999   (2,838)
    Loss before provision for income taxes (5,135)  (29,604)  (30,251)  (111,938)
    Provision for income taxes 589   5,417   6,727   5,902 
    Net loss$(5,724) $(35,021) $(36,978) $(117,840)
    Net loss per share attributable to common stockholders:       
    Basic and diluted$(0.03) $(0.19) $(0.19) $(0.65)
    Weighted-average shares used in computing net loss per share attributable to common stockholders:       
    Basic and diluted 199,049,777   186,343,078   194,646,436   180,818,399 
    ___________________________
    (1) Exclusive of depreciation and amortization, shown separately.
                    



    REMITLY GLOBAL, INC.
    Condensed Consolidated Balance Sheets
    (unaudited)
     
     December 31, December 31,
    (in thousands)2024

     2023

    Assets   
    Current assets   
    Cash and cash equivalents$368,097  $323,710 
    Disbursement prefunding 288,934   195,848 
    Customer funds receivable, net 193,965   379,417 
    Prepaid expenses and other current assets 46,518   33,143 
    Total current assets 897,514   932,118 
    Property and equipment, net 31,566   16,010 
    Operating lease right-of-use assets 13,002   9,525 
    Goodwill 54,940   54,940 
    Intangible assets, net 10,463   16,642 
    Other noncurrent assets, net 5,386   7,071 
    Total assets$1,012,871  $1,036,306 
    Liabilities and stockholders' equity   
    Current liabilities   
    Accounts payable$16,159  $35,051 
    Customer liabilities 188,984   177,473 
    Short-term debt 2,468   2,481 
    Accrued expenses and other current liabilities 116,652   145,802 
    Operating lease liabilities 4,745   6,032 
    Total current liabilities 329,008   366,839 
    Operating lease liabilities, noncurrent 9,073   4,477 
    Long-term debt —   130,000 
    Other noncurrent liabilities 9,319   5,653 
    Total liabilities 347,400   506,969 
    Commitments and contingencies   
    Stockholders' equity   
    Common stock 20   19 
    Additional paid-in capital 1,195,390   1,020,286 
    Accumulated other comprehensive (loss) income (1,658)  335 
    Accumulated deficit (528,281)  (491,303)
    Total stockholders' equity 665,471   529,337 
    Total liabilities and stockholders' equity$1,012,871  $1,036,306 
            



    REMITLY GLOBAL, INC.
    Condensed Consolidated Statements of Cash Flows
    (unaudited)
     
     Year Ended December 31,
    (in thousands)2024 2023
    Cash flows from operating activities   
    Net loss$(36,978) $(117,840)
    Adjustments to reconcile net loss to net cash provided by (used in) operating activities:   
    Depreciation and amortization 18,054   13,118 
    Stock-based compensation expense, net 152,137   136,967 
    Donation of common stock 2,587   4,600 
    Other 454   713 
    Changes in operating assets and liabilities:   
    Disbursement prefunding (93,086)  (31,778)
    Customer funds receivable 186,357   (183,422)
    Prepaid expenses and other assets (12,224)  (13,035)
    Operating lease right-of-use assets 5,981   5,186 
    Accounts payable (20,823)  27,559 
    Customer liabilities 12,666   61,718 
    Accrued expenses and other liabilities (14,499)  47,357 
    Operating lease liabilities (6,141)  (4,733)
    Net cash provided by (used in) operating activities 194,485   (53,590)
    Cash flows from investing activities   
    Purchases of property and equipment (5,998)  (2,857)
    Capitalized internal-use software costs (11,704)  (6,247)
    Cash paid for acquisition, net of acquired cash, cash equivalents, and restricted cash —   (40,933)
    Net cash used in investing activities (17,702)  (50,037)
    Cash flows from financing activities   
    Proceeds from exercise of stock options 8,667   14,288 
    Proceeds from issuance of common stock in connection with ESPP 9,382   6,132 
    Proceeds from revolving credit facility borrowings 1,453,000   764,000 
    Repayments of revolving credit facility borrowings (1,583,000)  (634,000)
    Taxes paid related to net share settlement of equity awards (5,228)  (6,702)
    Cash paid for settlement of amounts previously held back for acquisition consideration (10,261)  — 
    Repayment of assumed indebtedness —   (17,068)
    Net cash (used in) provided by financing activities (127,440)  126,650 
    Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (4,555)  1,272 
    Net increase in cash, cash equivalents, and restricted cash 44,788   24,295 
    Cash, cash equivalents, and restricted cash at beginning of period 325,029   300,734 
    Cash, cash equivalents, and restricted cash at end of period$369,817  $325,029 
    Reconciliation of cash, cash equivalents, and restricted cash   
    Cash and cash equivalents$368,097  $323,710 
    Restricted cash included in prepaid expenses and other current assets 658   774 
    Restricted cash included in other noncurrent assets, net 1,062   545 
    Total cash, cash equivalents, and restricted cash$369,817  $325,029 
            



    REMITLY GLOBAL, INC.
    Reconciliation of GAAP to Non-GAAP Financial Measures
    (unaudited)
     
    Reconciliation of net loss to Adjusted EBITDA:
            
     Three Months Ended December 31, Twelve Months Ended December 31,
    (in thousands)2024 2023 2024 2023
    Net loss$(5,724) $(35,021) $(36,978) $(117,840)
    Add:       
    Interest income, net (877)  (1,461)  (4,836)  (5,095)
    Provision for income taxes 589   5,417   6,727   5,902 
    Depreciation and amortization 5,814   3,484   18,054   13,118 
    Foreign exchange (gain) loss 2,273   (8)  (4,394)  2,603 
    Donation of common stock —   —   2,587   4,600 
    Stock-based compensation expense, net 41,614   35,960   152,137   136,967 
    Acquisition, integration, restructuring, and other costs(1) —   (193)  1,468   4,197 
    Adjusted EBITDA$43,689  $8,178  $134,765  $44,452 
    ___________________________
    (1) Acquisition, integration, restructuring, and other costs for the twelve months ended December 31, 2024 consisted primarily of $0.8 million in restructuring charges incurred, $0.5 million of non-recurring legal charges, and $0.2 million related to the change in the fair value of the holdback liability associated with the acquisition of Rewire (O.S.G.) Research and Development Ltd. ("Rewire"). Acquisition, integration, restructuring, and other costs for the three months ended December 31, 2023 consisted primarily of $(0.8) million related to the change in the fair value of the holdback liability and $0.6 million of expenses incurred in connection with the acquisition and integration of Rewire. Acquisition, integration, restructuring, and other costs for the twelve months ended December 31, 2023 consisted primarily of $1.7 million of expenses incurred in connection with the acquisition and integration of Rewire, $1.4 million in restructuring charges incurred, and $1.1 million related to the change in the fair value of the holdback liability associated with the acquisition of Rewire.
     



    Reconciliation of operating expenses to non-GAAP operating expenses:
            
     Three Months Ended December 31, Twelve Months Ended December 31,
    (in thousands)2024 2023

     2024 2023
    Customer support and operations$22,008 $19,917  $83,918 $82,521
    Excluding: Stock-based compensation expense, net 268  394   1,158  1,404
    Excluding: Acquisition, integration, restructuring, and other costs —  —   758  739
    Non-GAAP customer support and operations$21,740 $19,523  $82,002 $80,378
            
     Three Months Ended December 31, Twelve Months Ended December 31,
     2024 2023

     2024 2023
    Marketing$83,937 $75,343  $303,799 $234,417
    Excluding: Stock-based compensation expense, net 4,595  3,930   17,609  16,165
    Non-GAAP marketing$79,342 $71,413  $286,190 $218,252
            
     Three Months Ended December 31, Twelve Months Ended December 31,
     2024 2023

     2024 2023
    Technology and development$70,611 $59,240  $269,817 $219,939
    Excluding: Stock-based compensation expense, net 22,527  19,920   84,381  74,967
    Excluding: Acquisition, integration, restructuring, and other costs —  700   —  1,224
    Non-GAAP technology and development$48,084 $38,620  $185,436 $143,748
            
     Three Months Ended December 31, Twelve Months Ended December 31,
     2024 2023

     2024 2023
    General and administrative$54,875 $48,657  $195,857 $179,372
    Excluding: Stock-based compensation expense, net 14,224  11,716   48,989  44,431
    Excluding: Donation of common stock —  —   2,587  4,600
    Excluding: Acquisition, integration, restructuring, and other costs —  (893)  710  2,234
    Non-GAAP general and administrative$40,651 $37,834  $143,571 $128,107


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    Large Ownership Changes

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    • SEC Form SC 13G filed by Remitly Global Inc.

      SC 13G - Remitly Global, Inc. (0001782170) (Subject)

      11/13/24 7:32:47 PM ET
      $RELY
      Business Services
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by Remitly Global Inc.

      SC 13G/A - Remitly Global, Inc. (0001782170) (Subject)

      8/5/24 8:53:48 AM ET
      $RELY
      Business Services
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Remitly Global Inc. (Amendment)

      SC 13G/A - Remitly Global, Inc. (0001782170) (Subject)

      5/8/24 2:22:56 PM ET
      $RELY
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      Consumer Discretionary

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    SEC Filings

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    • SEC Form 10-Q filed by Remitly Global Inc.

      10-Q - Remitly Global, Inc. (0001782170) (Filer)

      5/7/25 4:12:20 PM ET
      $RELY
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      Consumer Discretionary
    • Remitly Global Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - Remitly Global, Inc. (0001782170) (Filer)

      5/7/25 4:09:59 PM ET
      $RELY
      Business Services
      Consumer Discretionary
    • SEC Form DEFA14A filed by Remitly Global Inc.

      DEFA14A - Remitly Global, Inc. (0001782170) (Filer)

      4/25/25 4:04:27 PM ET
      $RELY
      Business Services
      Consumer Discretionary

    $RELY
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    • Remitly to Report First Quarter Financial Results on May 7, 2025

      SEATTLE, April 23, 2025 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ:RELY) ("Remitly"), a trusted provider of digital financial services that transcend borders, today announced that it will report first quarter financial results after the market close on Wednesday, May 7, 2025. Management will host a conference call and live webcast to present the Company's financial results and answer questions from the financial analyst community at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time that same evening. Conference call and webcast information can be found below. Remitly First Quarter Financial Results Conference Call and Webcast Information:When: Wednesday, May 7th, 2025Time: 2:00 p.m. P

      4/23/25 4:05:00 PM ET
      $RELY
      Business Services
      Consumer Discretionary
    • Remitly to Report Fourth Quarter and Full Year 2024 Financial Results on February 19, 2025

      SEATTLE, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ:RELY) ("Remitly"), a trusted provider of digital financial services that transcend borders, today announced that it will report fourth quarter and full year 2024 financial results after the market close on Wednesday, February 19, 2025. Management will host a conference call and live webcast to present the Company's financial results and answer questions from the financial analyst community at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time that same evening. Conference call and webcast information can be found below. Remitly Fourth Quarter and Full Year 2024 Financial Results Conference Call and Webcast Information:Wh

      2/5/25 4:05:00 PM ET
      $RELY
      Business Services
      Consumer Discretionary
    • KBW Announces Index Rebalancing for Fourth-Quarter 2024

      NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY

      12/13/24 8:30:00 PM ET
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    • Vice Chair Hug Joshua sold $841,954 worth of shares (40,000 units at $21.05), decreasing direct ownership by 1% to 3,773,811 units (SEC Form 4)

      4 - Remitly Global, Inc. (0001782170) (Issuer)

      5/7/25 4:46:14 PM ET
      $RELY
      Business Services
      Consumer Discretionary
    • Vice Chair Hug Joshua sold $389,400 worth of shares (20,000 units at $19.47), decreasing direct ownership by 0.52% to 3,813,811 units (SEC Form 4)

      4 - Remitly Global, Inc. (0001782170) (Issuer)

      4/21/25 5:57:33 PM ET
      $RELY
      Business Services
      Consumer Discretionary
    • SEC Form 4 filed by Chief Business Officer Sharma Pankaj

      4 - Remitly Global, Inc. (0001782170) (Issuer)

      4/15/25 4:21:55 PM ET
      $RELY
      Business Services
      Consumer Discretionary

    $RELY
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    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

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    • Monness Crespi & Hardt reiterated coverage on Remitly Global with a new price target

      Monness Crespi & Hardt reiterated coverage of Remitly Global with a rating of Buy and set a new price target of $32.00 from $30.00 previously

      5/8/25 7:31:41 AM ET
      $RELY
      Business Services
      Consumer Discretionary
    • Remitly Global upgraded by Wells Fargo with a new price target

      Wells Fargo upgraded Remitly Global from Underweight to Equal Weight and set a new price target of $18.00 from $13.00 previously

      10/31/24 7:50:11 AM ET
      $RELY
      Business Services
      Consumer Discretionary
    • Remitly Global upgraded by BMO Capital Markets with a new price target

      BMO Capital Markets upgraded Remitly Global from Market Perform to Outperform and set a new price target of $28.00 from $24.00 previously

      2/22/24 6:27:05 AM ET
      $RELY
      Business Services
      Consumer Discretionary