Remitly Global stock falls 6.67 percent despite Q2 growth

Remitly Global stock was trading at USD 19.86 on Nasdaq on September 23, 2026, down 6.67 percent during the session. The move came as the cross-border payments company highlighted second-quarter revenue growth of 20 percent to USD 495.2 million in its latest results release.

Q2 revenue rises 20 percent

Remitly reported second-quarter net income of USD 205.9 million, including a USD 140.6 million discrete tax benefit. Adjusted EBITDA reached USD 114.7 million, an increase of 79 percent from the prior-year quarter.

Quarterly active customers surpassed 10 million, while send volume increased 27 percent year over year. The combination gives the revenue figure more weight than the headline earnings number because customer activity and transaction volume directly support the companys operating scale.

Analyst target stays at USD 32

Citizens reaffirmed a Market Outperform rating and a USD 32 price target for Remitly on September 23, 2026, according to Investing.com. That target is materially above the intraday quote, but the session decline shows that valuation expectations and near-term trading can diverge from the operating results.

Remitly also announced on September 9, 2026, that it would become an additional Etsy Payments provider in 15 countries, giving new Etsy sellers access to local payouts through Remitlys cross-border network, according to Remitly. The partnership broadens the companys use case beyond person-to-person remittances and adds a commerce-related channel to its international payments network.

Stock remains below its yearly high

At USD 19.86, Remitly stock was 27.7 percent below its 52-week high of USD 27.48 and USD 7.78 above its 52-week low of USD 12.08. The current quote therefore places the shares closer to the middle of the yearly range despite the 54.20 percent year-to-date gain shown in the September 22 market snapshot.

At 11:34 a.m. ET on September 23, 2026, Remitly Global stock stood at USD 19.86 on Nasdaq, with a daily change of minus 6.67 percent. The companys Q2 revenue, customer count and adjusted EBITDA provide the key operating benchmarks behind the stock valuation.