Remitly Reports Q1 Results, Forecasts Q2 Revenue of $483-485 Million

Remitly beat Q1 expectations and guided second-quarter revenue to between $483 million and $485 million, new CEO Sebastian Gunningham said in an interview that aired on CNBC. The Q2 guidance represents 17-18 percent growth from the year-earlier period. 4 percent, compared with the 19 percent analysts expected, according to CNBC reported.

Sebastian Gunningham spoke with Jon Fortt in the interview published on May 6, 2026 at 4:21 PM EDT. Gunningham, who became Remitly CEO earlier this year, used the appearance to detail a strategic shift that moves the company beyond its core $250 remittance product. The strategy now targets higher-amount senders, small businesses and receivers.

One percent of the cross-border small and medium-sized business market alone could be two to three times Remitly's current size, Gunningham said. The executive described the opportunity as substantial enough to materially change the company's scale if even a small slice of the addressable market is captured.

Remitly maintains only small internal use of stablecoins. Sender demand for stablecoins remains low while receivers continue to want dollar-denominated accounts, Gunningham stated. Those comments reflect the practical limits the company sees in cryptocurrency adoption for its cross-border payments business.

Receivers' preference for traditional dollar accounts has shaped Remitly's product decisions even as it experiments internally with stablecoins on a limited basis. The earnings guidance and strategic comments come as Remitly seeks to broaden its customer base while sustaining rapid revenue growth.

Gunningham's remarks suggest the company views its existing remittance corridor expertise as a foundation for expansion into larger-value transfers and business payments rather than a ceiling.

His first major public comments since taking the role emphasized disciplined execution on both the top-line forecast and margin targets that exceeded Wall Street expectations.