Remitly Global Sees FY23 Revenue $935M-$943M Vs $928.39M Est.
Portfolio Pulse from Benzinga Newsdesk
Remitly Global has updated its fiscal year 2023 outlook, expecting total revenue in the range of $935 million to $943 million, up from the previous estimate of $915 million to $925 million. This represents a YoY growth rate of 43% to 44%. The company also expects to remain in a GAAP net loss position for 2023, with Adjusted EBITDA in the range of $36 million to $41 million, up from the previous estimate of $33 million to $40 million.
November 01, 2023 | 8:25 pm
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Remitly Global's updated FY23 outlook indicates higher expected revenues and Adjusted EBITDA, which could be seen as a positive signal by investors. However, the company expects to remain in a GAAP net loss position.
The increase in Remitly's revenue and Adjusted EBITDA outlook for FY23 indicates that the company expects stronger financial performance, which could positively impact its stock price. However, the continued expectation of a GAAP net loss could temper investor enthusiasm.
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