Recent News
April 23, 2026 — Remitly expanded its WhatsApp Send offering to additional corridors and introduced a “Request Money” feature in partnership with Elektra in Mexico. April 16, 2026 — the company added instant access to exchange rates and delivery options inside ChatGPT. April 29, 2026 — Remitly signed a letter of intent to explore a strategic partnership with tiqmo and announced a LaLiga partnership to broaden community engagement. February 23, 2026 — management scheduled investor events and a post‑earnings webinar in late February; the company also announced recent board and leadership appointments in April.
Technical Analysis
Directional indicators show bullish direction: DI+ at 41.78 and trending increasing while DI− at 9.92 has peak‑and‑reversed (a bullish signal), with ADX at 47.86 indicating a very strong trend that favors continuation but signals potential overextension. This directional strength aligns with the current near‑term upside bias implied by the valuation and momentum setup.
MACD sits at 1.55 and trends increasing above its signal line at 1.25, which constitutes a bullish momentum confirmation and supports the case for additional upside toward the WMDST price target range.
MRO reads 23.54 and shows a peak‑and‑reversal; because MRO remains positive, price sits above the WMDST target and carries a conditional risk of near‑term mean reversion. That tension—strong directional momentum versus a positive, peaking MRO—creates a higher probability of short consolidations inside an overall bullish move.
RSI at 67.08 and rising approaches overbought territory, reinforcing the view of strong momentum with elevated short‑term pullback risk if buying pressure wanes. Price currently trades above the 12‑ and 26‑day EMAs and all principal moving averages (20/50/200), with the 20‑day average at $21.12 and the 200‑day average at $16.05; Bollinger bands place the upper 2× level near $23.94, close to the latest close, which increases the chance of consolidation around current levels.
Volume averaged over 10/50/200 days sits below today’s session volume, indicating current participation above the recent short‑term norm; paired with a 42‑day beta of 1.64, price action will likely remain volatile as momentum extends.
Fundamental Analysis
Total revenue for the period stands at $442,177,000 with YoY revenue growth of 18.393% and sequential (QoQ) revenue change of 191.325%. Net income equaled $41,216,000 and operating income totaled $38,815,000, yielding an operating margin of 8.778% and an EBIT margin of 8.751%.
EPS beat consensus: actual EPS came in at $0.39 versus an estimate of $0.16, representing an EPS surprise of +143.75% (difference $0.23). That beat supports the market’s re‑rating momentum and underpins WMDST’s valuation view.
WMDST observes solid liquidity and cash generation: cash and short‑term investments total $542,426,000, operating cash flow reached $149,618,000, and free cash flow totaled $140,206,000 for a free cash flow yield of 4.795%. The current ratio registers 3.29769, indicating significant near‑term liquidity buffers relative to current liabilities.
Capital structure metrics show modest leverage: total debt $192,122,000, debt/EBITDA 3.20, debt/equity 0.22114, and interest coverage about 15.19x—enough capacity to support growth initiatives without immediate refinancing pressure.
Profitability sits below industry peer central measures: EBIT margin at 8.75% falls beneath the industry peer mean of 41.69% and median of 50.66%, while gross margin at 62.73% lies slightly below the industry peer mean of 71.10%. Conversely, free cash flow yield at 4.795% compares favorably to the industry peer mean of 0.699%, a relative strength supporting the current valuation stance.
Valuation context: WMDST values the stock as under‑valued. Supporting datapoints include an EV/R of 5.82, forward PE near 40.49, and a free cash flow yield approaching 4.8%, combined with a strong cash balance and recent operational beats. Remaining gaps versus industry peer margins explain why upside must pair with sustained margin expansion for a durable re‑rating.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-18 |
| NEXT REPORT DATE: | 2026-05-20 |
| CASH FLOW | Begin Period Cash Flow | $ 478.5 M |
| Operating Cash Flow | $ 149.6 M | |
| Capital Expenditures | $ -9.41 M | |
| Change In Working Capital | $ 45.2 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 65.8 M | |
| End Period Cash Flow | $ 544.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 442.2 M | |
| Forward Revenue | $ 216.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 164.8 M | |
| Depreciation | $ 21.3 M | |
| Depreciation and Amortization | $ 21.3 M | |
| Research and Development | $ 82.1 M | |
| Total Operating Expenses | $ 403.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ 277.4 M | |
| EBITDA | $ 60.0 M | |
| EBIT | $ 38.7 M | |
| Operating Income | $ 38.8 M | |
| Interest Income | $ 1.8 M | |
| Interest Expense | $ 2.5 M | |
| Net Interest Income | $ -762.00 K | |
| Income Before Tax | $ 36.1 M | |
| Tax Provision | $ -5.07 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 41.2 M | |
| Net Income From Continuing Operations | $ 41.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.16 | |
| EPS Actual | $ 0.39 | |
| EPS Difference | $ 0.23 | |
| EPS Surprise | 143.75 % | |
| Forward EPS | $ 0.38 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.5 B | |
| Intangible Assets | $ 57.1 M | |
| Net Tangible Assets | $ 811.7 M | |
| Total Current Assets | $ 1.3 B | |
| Cash and Short-Term Investments | $ 542.4 M | |
| Cash | $ 542.4 M | |
| Net Receivables | $ 286.5 M | |
| Inventory | — | |
| Long-Term Investments | $ 11.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 28.4 M | |
| Short-Term Debt | $ 2.8 M | |
| Total Current Liabilities | $ 399.1 M | |
| Net Debt | — | |
| Total Debt | $ 192.1 M | |
| Total Liabilities | $ 589.9 M | |
| EQUITY | ||
| Total Equity | $ 868.8 M | |
| Retained Earnings | $ -460.35 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 4.12 | |
| Shares Outstanding | 210.626 M | |
| Revenue Per-Share | $ 2.10 | |
| VALUATION | Market Capitalization | $ 2.9 B |
| Enterprise Value | $ 2.6 B | |
| Enterprise Multiple | 42.86 | |
| Enterprise Multiple QoQ | -61.345 % | |
| Enterprise Multiple YoY | -98.292 % | |
| Enterprise Multiple IPRWA | high: 113.876 RELY: 42.86 median: 33.625 mean: 31.801 low: -27.381 |
|
| EV/R | 5.82 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.679 | |
| Asset To Liability | 2.473 | |
| Debt To Capital | 0.181 | |
| Debt To Assets | 0.132 | |
| Debt To Assets QoQ | 350.445 % | |
| Debt To Assets YoY | 5297.951 % | |
| Debt To Assets IPRWA | high: 0.982 mean: 0.243 median: 0.154 RELY: 0.132 low: 0.001 |
|
| Debt To Equity | 0.221 | |
| Debt To Equity QoQ | 396.721 % | |
| Debt To Equity YoY | 5860.647 % | |
| Debt To Equity IPRWA | high: 11.292 median: 1.533 mean: 1.512 RELY: 0.221 low: -2.143 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.365 | |
| Price To Book QoQ | -24.891 % | |
| Price To Book YoY | -50.185 % | |
| Price To Book IPRWA | high: 7.416 median: 7.416 mean: 5.181 RELY: 3.365 low: -1.238 |
|
| Price To Earnings (P/E) | 73.059 | |
| Price To Earnings QoQ | -22.928 % | |
| Price To Earnings YoY | -109.777 % | |
| Price To Earnings IPRWA | high: 175.249 mean: 107.268 median: 102.52 RELY: 73.059 low: -128.288 |
|
| PE/G Ratio | 13.149 | |
| Price To Sales (P/S) | 6.612 | |
| Price To Sales QoQ | -22.343 % | |
| Price To Sales YoY | -48.244 % | |
| Price To Sales IPRWA | high: 33.131 mean: 14.268 median: 13.079 RELY: 6.612 low: 0.369 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 40.489 | |
| Forward PE/G | 7.288 | |
| Forward P/S | 14.199 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 30.728 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.331 | |
| Asset Turnover Ratio QoQ | -6.133 % | |
| Asset Turnover Ratio YoY | -6.746 % | |
| Asset Turnover Ratio IPRWA | high: 0.473 RELY: 0.331 median: 0.062 mean: 0.058 low: 0.002 |
|
| Receivables Turnover | 1.489 | |
| Receivables Turnover Ratio QoQ | 0.25 % | |
| Receivables Turnover Ratio YoY | -0.557 % | |
| Receivables Turnover Ratio IPRWA | high: 10.362 RELY: 1.489 mean: 0.986 median: 0.077 low: 0.073 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 61.287 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 45.306 | |
| Cash Conversion Cycle Days QoQ | -4.91 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 167.709 mean: 59.303 median: 46.722 RELY: 45.306 low: -144.738 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.482 | |
| CapEx To Revenue | -0.021 | |
| CapEx To Depreciation | -0.441 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.0 B | |
| Net Invested Capital | $ 1.0 B | |
| Invested Capital | $ 1.0 B | |
| Net Tangible Assets | $ 811.7 M | |
| Net Working Capital | $ 916.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.359 | |
| Current Ratio | 3.298 | |
| Current Ratio QoQ | 14.675 % | |
| Current Ratio YoY | 20.886 % | |
| Current Ratio IPRWA | high: 15.16 RELY: 3.298 mean: 2.278 median: 1.262 low: 0.525 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 3.2 | |
| Cost Of Debt | 1.768 % | |
| Interest Coverage Ratio | 15.193 | |
| Interest Coverage Ratio QoQ | 121.115 % | |
| Interest Coverage Ratio YoY | -452.481 % | |
| Interest Coverage Ratio IPRWA | high: 38.36 median: 38.235 mean: 29.643 RELY: 15.193 low: -17.128 |
|
| Operating Cash Flow Ratio | 0.2 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 15.981 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 20.189 % | |
| Revenue Growth | 5.407 % | |
| Revenue Growth QoQ | 191.325 % | |
| Revenue Growth YoY | 18.393 % | |
| Revenue Growth IPRWA | high: 40.583 % RELY: 5.407 % mean: 3.404 % median: 2.867 % low: -43.268 % |
|
| Earnings Growth | 5.556 % | |
| Earnings Growth QoQ | -205.567 % | |
| Earnings Growth YoY | -101.389 % | |
| Earnings Growth IPRWA | high: 117.391 % RELY: 5.556 % mean: -5.495 % median: -14.734 % low: -122.941 % |
|
| MARGINS | ||
| Gross Margin | 62.73 % | |
| Gross Margin QoQ | 6.805 % | |
| Gross Margin YoY | 4.371 % | |
| Gross Margin IPRWA | high: 96.381 % median: 75.994 % mean: 71.095 % RELY: 62.73 % low: -58.624 % |
|
| EBIT Margin | 8.751 % | |
| EBIT Margin QoQ | 152.481 % | |
| EBIT Margin YoY | -839.105 % | |
| EBIT Margin IPRWA | high: 65.692 % median: 50.663 % mean: 41.688 % RELY: 8.751 % low: -57.945 % |
|
| Return On Sales (ROS) | 8.778 % | |
| Return On Sales QoQ | 212.718 % | |
| Return On Sales YoY | -841.385 % | |
| Return On Sales IPRWA | high: 65.692 % median: 50.663 % mean: 41.284 % RELY: 8.778 % low: -63.058 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 140.2 M | |
| Free Cash Flow Yield | 4.795 % | |
| Free Cash Flow Yield QoQ | 11051.163 % | |
| Free Cash Flow Yield YoY | 327.743 % | |
| Free Cash Flow Yield IPRWA | high: 43.306 % RELY: 4.795 % median: 0.945 % mean: 0.699 % low: -49.443 % |
|
| Free Cash Growth | 9081.794 % | |
| Free Cash Growth QoQ | -9759.325 % | |
| Free Cash Growth YoY | -14134.824 % | |
| Free Cash Growth IPRWA | RELY: 9081.794 % high: 201.812 % mean: -40.675 % median: -57.942 % low: -193.02 % |
|
| Free Cash To Net Income | 3.402 | |
| Cash Flow Margin | 18.066 % | |
| Cash Flow To Earnings | 1.938 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.085 % | |
| Return On Assets QoQ | 315.768 % | |
| Return On Assets YoY | -634.662 % | |
| Return On Assets IPRWA | RELY: 3.085 % high: 2.935 % mean: 0.879 % median: 0.824 % low: -2.763 % |
|
| Return On Capital Employed (ROCE) | 3.652 % | |
| Return On Equity (ROE) | 0.047 | |
| Return On Equity QoQ | 328.159 % | |
| Return On Equity YoY | -651.628 % | |
| Return On Equity IPRWA | high: 0.187 median: 0.06 mean: 0.057 RELY: 0.047 low: -0.094 |
|
| DuPont ROE | 4.948 % | |
| Return On Invested Capital (ROIC) | 2.978 % | |
| Return On Invested Capital QoQ | 130.495 % | |
| Return On Invested Capital YoY | 230.522 % | |
| Return On Invested Capital IPRWA | high: 6.243 % RELY: 2.978 % median: 2.865 % mean: 2.739 % low: -5.899 % |
|