Remitly Global (Remitly Global) Effective Interest Rate on Debt % : 4.02% (As of Dec. 2023)

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What is Remitly Global Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Remitly Global's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $3.1 Mil. Remitly Global's average total debt for the quarter that ended in Dec. 2023 was $78.2 Mil. Therefore, Remitly Global's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 4.02%.

Remitly Global Effective Interest Rate on Debt % Historical Data

The historical data trend for Remitly Global's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Remitly Global Effective Interest Rate on Debt % Chart

Remitly Global Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

3.03

1.70

2.70

16.97

3.09

Remitly Global Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial											13.75	11.97	7.16	7.45	4.02

Competitive Comparison of Remitly Global's Effective Interest Rate on Debt %

For the Software - Infrastructure subindustry, Remitly Global's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Remitly Global's Effective Interest Rate on Debt % Distribution in the Software Industry

For the Software industry and Technology sector, Remitly Global's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Remitly Global's Effective Interest Rate on Debt % falls into.

Remitly Global Effective Interest Rate on Debt % Calculation

Remitly Global's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -2.352	/	( (9.195	+	142.99)	/ 2 )
=	-1 * -2.352	/	76.0925
=	3.09 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.674	+	3.521
=	9.195

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	134.477	+	8.513
=	142.99

Remitly Global's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -3.144	/	( (13.498	+	142.99)	/ 2 )
=	-1 * -3.144	/	78.244
=	4.02 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.749	+	7.749
=	13.498

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	134.477	+	8.513
=	142.99

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Remitly Global (NAS:RELY) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Remitly Global Effective Interest Rate on Debt % Related Terms

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Remitly Global (Remitly Global) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Remitly Global Inc (NAS:RELY) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

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Traded in Other Exchanges

N/A

Address

1111 Third Avenue, Suite 2100, Seattle, WA, USA, 98101

Website

https://www.remitly.com

Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. The company's revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company's currency purchases.

Executives

Rene Yoakum	officer: EVP, Customer and Culture	C/O REMITLY GLOBAL, INC., 1111 3RD AVE., 21ST FLOOR, SEATTLE WA 98101
Bora Chung	director	C/O BILL.COM HOLDINGS, INC., 1810 EMBARCADERO ROAD, PALO ALTO CA 94303
Matthew B. Oppenheimer	director, officer: Chief Executive Officer	1111 THIRD AVENUE, ST. 2100, C/O REMITLY GLOBAL, INC., SEATTLE WA 98101
Hemanth Munipalli	officer: Chief Financial Officer	C/O REMITLY GLOBAL, INC., 1111 THIRD AVENUE, SUITE 2100, SEATTLE WA 98101
Joshua Hug	director, officer: Chief Operating Officer	1111 THIRD AVENUE, ST. 2100, C/O REMITLY GLOBAL, INC., SEATTLE WA 98101
Ankur Sinha	officer: Chief Technology Officer	C/O REMITLY GLOBAL, INC., 1111 3RD AVE., 21ST FLOOR, SEATTLE WA 98101
Nigel W Morris	director	1680 CAPITAL ONE DRIVE, MCLEAN VA 22102
Gail A Miller	officer: Chief Accounting Officer	C/O REMITLY GLOBAL, INC., 1111 3RD AVE., 21ST FLOOR, SEATTLE, WA 98101
Phyllis J Campbell	director	C/O AIR TRANSPORT SERVICES GROUP, INC., 145 HUNTER DRIVE, WILMINGTON OH 45177
Ryno Blignaut	director	C/O XOOM CORPORATION, 100 BUSH STREET, SUITE 300, SAN FRANCISCO CA 94104
Stripes Holdings, Llc	10 percent owner	402 WEST 13TH ST., 4TH FLOOR, NEW YORK NY 10014
Stripes Iii, Lp	10 percent owner	402 WEST 13TH STREET, 4TH FLOOR, NEW YORK NY 10014
Stripes Gp Iii, Llc	10 percent owner	402 WEST 13TH STREET, NEW YORK NY 10014
Kenneth A Fox	10 percent owner
William Kazuo Bryant	director	1111 THIRD AVENUE, ST. 2100, C/O REMITLY GLOBAL, INC., SEATTLE WA 98101