Q: What is Remitly Global (RELY) Q3 2024 Earnings Call Transcript Summary?

TigerGPT Answer:

Here are the specific viewpoints from the earnings call:

**Bullish Points:**

1. We delivered yet another quarter of strong performance.

2. Q3 was exceptionally strong across the board.

3. We exceeded expectations both on the top and bottom line.

4. We acquired a record number of new customers year over year.

5. Revenue growth accelerated to 39%.

6. We delivered record adjusted EBITDA of $46.7 million.

7. Adjusted EBITDA margin expanded to nearly 14%.

8. Send volume grew more than 40% in the third quarter, over five times the market growth rate.

9. Remitly's positioning as a digital-first provider has allowed us to sustainably outgrow the market along with improving economies of scale.

10. Our average payback period remains well below 12 months.

**Bearish Points:**

1. Provision for transaction losses increased to $16.6 million.

2. Gross take rate is expected to decline sequentially in Q4.

3. Q4 is a seasonally high marketing investment quarter, which may impact adjusted EBITDA.

4. We are not assuming FX tailwinds in 2025, which have benefited us in 2024.

5. FX tailwinds seen in 2024 are not assumed to continue in 2025.

6. Sequential decline in gross take rate expected in Q4.

7. Conservative outlook for Q4 due to potential pull-forward with the strong dollar.

8. The company did not provide specific EBITDA margin goals for FY '25.

9. There is a potential for revenue variability due to FX movements.

10. The company expects a step down in EBITDA growth rate in Q4.

For more information about Remitly Global, Inc. (RELY)'s earnings call, you can read the relevant news: Remitly Global (RELY) Q3 2024 Earnings Call Transcript

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