Remitly Global Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
RELY$23.48-2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(117,840) | $(114,019) | $(38,756) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 13,118 | 6,724 | 5,256 |
| Stock-based compensation expense, net | 136,967 | 95,293 | 17,016 |
| Donation of common stock | 4,600 | 1,972 | 6,933 |
| Other | 713 | 356 | 452 |
| Changes in operating assets and liabilities: | |||
| Disbursement prefunding | (31,778) | (38,428) | (18,069) |
| Customer funds receivable | (183,422) | (126,942) | (17,282) |
| Prepaid expenses and other assets | (13,035) | (4,598) | (12,559) |
| Operating lease right-of-use assets | 5,186 | 3,763 | 2,780 |
| Accounts payable | 27,559 | 5,535 | (3,035) |
| Customer liabilities | 61,718 | 42,979 | 16,097 |
| Accrued expenses and other liabilities | 47,357 | 22,782 | 26,071 |
| Operating lease liabilities | (4,733) | (4,073) | (3,295) |
| Net cash used in operating activities | (53,590) | (108,656) | (18,391) |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (2,857) | (3,679) | (1,956) |
| Capitalized internal-use software costs | (6,247) | (3,382) | (2,578) |
| Cash paid for acquisition, net of acquired cash, cash equivalents, and restricted cash | (40,933) | (248) | — |
| Net cash used in investing activities | (50,037) | (7,309) | (4,534) |
| Cash flows from financing activities | |||
| Proceeds from exercise of stock options | 14,288 | 11,554 | 8,345 |
| Proceeds from issuance of common stock in connection with ESPP | 6,132 | 3,516 | — |
| Proceeds from revolving credit facility borrowings | 764,000 | — | — |
| Repayments of revolving credit facility borrowings | (634,000) | — | (80,000) |
| Taxes paid related to net share settlement of equity awards | (6,702) | (99) | — |
| Repayment of assumed indebtedness | (17,068) | (384) | — |
| Proceeds from issuance of common stock upon initial public offering and private placements, net of offering costs, underwriting discounts and commissions | — | — | 305,191 |
| Repayment of non-recourse promissory note | — | — | 3,060 |
| Proceeds from issuance of Series E and F convertible preferred stock, net of issuance costs | — | — | 2,980 |
| Payment of debt issuance costs | — | — | (1,373) |
| Net cash provided by financing activities | 126,650 | 14,587 | 238,203 |
| Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash | 1,272 | (1,201) | (40) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 24,295 | (102,579) | 215,238 |
| Cash, cash equivalents, and restricted cash at beginning of period | 300,734 | 403,313 | 188,075 |
| Cash, cash equivalents, and restricted cash at end of period | $325,029 | $300,734 | $403,313 |
| Reconciliation of cash, cash equivalents, and restricted cash | |||
| Cash and cash equivalents | $323,710 | $300,635 | $403,262 |
| Restricted cash included in prepaid expenses and other current assets | 774 | — | — |
| Restricted cash included in other noncurrent assets, net | 545 | 99 | 51 |
| Total cash, cash equivalents, and restricted cash | $325,029 | $300,734 | $403,313 |
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