Remitly Global, Inc. Common Stock Goldman Sachs Communacopia + Technology Conference 2026

Thank you. And congrats on the conference.

Not over yet. Very impressive.

Yeah. Well, first, I'd say that when you join a business and you start to peel the onion, one of two things can happen. The more you peel, the less you like, or the more you peel, the more you like. I'd say that I had the luxury of joining a very solid company, being put together over many years. The moats are real around the network, the infrastructure, the compliance. Customers love the product. So there was a lot of boxes that checked right, and I think the company is really a fantastic company. I'd say that my focus since joining has been, number one is diversifying the revenue stream. We have a very good core business, but we've built this amazing network with hundreds of licenses around the world. We can distribute to almost 5 billion bank accounts, users of bank accounts, about 1 billion wallet users.

We have about 500,000 cash pickup points around the world. So diversifying the revenue on the shoulders of that network means we are focusing on higher value centers. We're focusing on Remitly Business. You saw an announcement this morning. We're now in the platform business also, which means we're using this fantastic infrastructure that we built to offer it to companies who want to pay people cross-border. Etsy has millions of sellers. We're now plugged into the Etsy ecosystem. We have a pipeline of other companies that are interested. Finally, we've launched a cards business, where we offer our customers a whole bunch of benefits in their cross-border lives with the card. So I'd say objective number one has been to start a very aggressive diversification revenue. So far, so good. We're seeing some really good signs.

Number two is, I think I've AI'd the company, and this AI journey has many angles to it. I'm AI'ing the cost side. We've seen a lot of product launches since I joined. The speed at which we're launching features. You can now email money. You can send money across the world almost as easily as sending an email. We call it Send with Link. We've launched a bunch of features for business. On the revenue side, AI has allowed us to reinvent the software factory, generating many more features. Many more features improve the product, an improved product generates revenue, and hopefully we'll see growth into the future. On the cost side, like every other company, seeing a lot of efficiencies. What five people could do, now two people can do, and on down the line.

So, you are seeing that in our bottom lines, in our expansion, in our margin expansion. Then finally, as I said, number one is diversification. Number two is the acceleration of AI across the whole company. Number three is continuing to expand this moat that we built with this distribution network around the world. We are launching new corridors, new send countries, new licenses. We just got UAE. I was in Japan a month ago. We got that license. So we continue to expand around the world as we move money across borders. So, super fantastic first six months. I like the business. I think the market is big. We have earned the right to win. So we are going to keep at this speed.

Yeah. Well, if we had met three years ago, we would already see the data points clearly that the shift from cash to digital is happening. Here we are today. Let us say the world is 50/50. It is not hard to predict that if we were sitting here three years from now, that trend is going to continue. Different countries are moving at different speeds. Remember, for us, the cash, we do not deal with cash in the send countries. We only deal with banked customers. But the receiving market receives in cash. So when you ask the impact to us is that transition. So in the send countries, a lot of customers are transitioning to digital, and we get the benefit of that. A little bit, there is some tailwinds from these tax benefits.

But I think just generally, customers are just finding it easier to deal with cash and the economics are better. On the receiving side, it is all over the map. There are some countries that are going all digital. Brazil is a very digital market for us. Mexico is probably 50/50, and it varies across the world. So we are on the right side of that trend. By being on the right side means you got all your energy in producing great digital experiences. You have got all your unit economics figured out for digital-only experiences. You have got all your compliance, you have got all your regulatory, you have got all your licenses. So, we were born digital, and we are as digital as ever now, and I think we are going to continue to benefit from that trend.

Yeah. First of all, as you saw, our first half annual results have been outstanding. As a part of that, our high-value sender story is the one that actually helped us drive strong growth as one of the factors. What we saw in the second quarter was that with the Indian government using different programs to manage their foreign exchange volatility, they came up with schemes which created funds being moved in a different way than the usual cross-border remittance or payments. That scheme ended early. It was supposed to end end of September, but has ended end of August, which means that going forward, we'll not see impact from that, but it'll have similar to what we saw in Q2, a little bit of a headwind in the Q3 timeframe. That's, call it the detail part of it.