Aug. 11 at 9:53 AM
$RELY — HOLD
Revenue grew 39% to
$1.26B, but the stock still trades on a rich 4.4x sales multiple, leaving limited margin for error.
Adjusted EBITDA reached
$155M with a 12.3% margin, showing operating leverage, yet free cash flow was only
$57M, so conversion is still modest.
The business now spans 175+ countries and 5,300+ corridors, but that scale has not yet translated into durable cash generation at a level that clearly justifies a higher multiple.
Insider selling and a valuation that already discounts strong growth keep the setup balanced rather than compelling at current levels.
Full research: https://lf0.com/research/remitly-global-stock-analysis-rely/
