Remitly Global (Remitly Global) Gross Margin % : 58.82% (As of Dec. 2023)

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What is Remitly Global Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Remitly Global's Gross Profit for the three months ended in Dec. 2023 was $155.7 Mil. Remitly Global's Revenue for the three months ended in Dec. 2023 was $264.8 Mil. Therefore, Remitly Global's Gross Margin % for the quarter that ended in Dec. 2023 was 58.82%.

The historical rank and industry rank for Remitly Global's Gross Margin % or its related term are showing as below:

RELY' s Gross Margin % Range Over the Past 10 Years
Min: 42.08 Med: 48.29 Max: 56.41
Current: 56.41

During the past 5 years, the highest Gross Margin % of Remitly Global was 56.41%. The lowest was 42.08%. And the median was 48.29%.

RELY's Gross Margin % is ranked better than
65.14% of 2625 companies
in the Software industry
Industry Median: 41.71 vs RELY: 56.41

Remitly Global had a gross margin of 58.82% for the quarter that ended in Dec. 2023 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for Remitly Global was 0.00% per year.

Remitly Global Gross Margin % Historical Data

The historical data trend for Remitly Global's Gross Margin % 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.

* Premium members only.

Remitly Global Gross Margin % Chart

Remitly Global Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

42.08

47.13

48.29

49.98

56.41

Remitly Global Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Margin %	Get a 7-Day Free Trial											52.31	53.89	56.56	55.75	58.82

Competitive Comparison of Remitly Global's Gross Margin %

For the Software - Infrastructure subindustry, Remitly Global's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % Distribution in the Software Industry

For the Software industry and Technology sector, Remitly Global's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Remitly Global's Gross Margin % falls into.

Remitly Global Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Remitly Global's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	532.7	/	944.285
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(944.285 - 411.634)	/	944.285
	=	56.41 %

Remitly Global's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	155.7	/	264.758
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(264.758 - 109.035)	/	264.758
	=	58.82 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Remitly Global (NAS:RELY) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Remitly Global had a gross margin of 58.82% for the quarter that ended in Dec. 2023 => Durable competitive advantage

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Remitly Global Gross Margin % 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 » Gross Margin %

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