Remitly Global Inc
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net loss | $(36,978) | $(117,840) | $(114,019) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 18,054 | 13,118 | 6,724 |
| Stock-based compensation expense, net | 152,137 | 136,967 | 95,293 |
| Donation of common stock | 2,587 | 4,600 | 1,972 |
| Other | 454 | 713 | 356 |
| Changes in operating assets and liabilities: | |||
| Disbursement prefunding | (93,086) | (31,778) | (38,428) |
| Customer funds receivable | 186,357 | (183,422) | (126,942) |
| Prepaid expenses and other assets | (12,224) | (13,035) | (4,598) |
| Operating lease right-of-use assets | 5,981 | 5,186 | 3,763 |
| Accounts payable | (20,823) | 27,559 | 5,535 |
| Customer liabilities | 12,666 | 61,718 | 42,979 |
| Accrued expenses and other liabilities | (14,499) | 47,357 | 22,782 |
| Operating lease liabilities | (6,141) | (4,733) | (4,073) |
| Net cash provided by (used in) operating activities | 194,485 | (53,590) | (108,656) |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (5,998) | (2,857) | (3,679) |
| Capitalized internal-use software costs | (11,704) | (6,247) | (3,382) |
| Cash paid for acquisition, net of acquired cash, cash equivalents, and restricted cash | — | (40,933) | (248) |
| Net cash used in investing activities | (17,702) | (50,037) | (7,309) |
| Cash flows from financing activities | |||
| Proceeds from exercise of stock options | 8,667 | 14,288 | 11,554 |
| Proceeds from issuance of common stock in connection with ESPP | 9,382 | 6,132 | 3,516 |
| Proceeds from revolving credit facility borrowings | 1,453,000 | 764,000 | — |
| Repayments of revolving credit facility borrowings | (1,583,000) | (634,000) | — |
| Taxes paid related to net share settlement of equity awards | (5,228) | (6,702) | (99) |
| Cash paid for settlement of amounts previously held back for acquisition consideration | (10,261) | — | — |
| Repayment of assumed indebtedness | — | (17,068) | (384) |
| Net cash (used in) provided by financing activities | (127,440) | 126,650 | 14,587 |
| Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash | (4,555) | 1,272 | (1,201) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 44,788 | 24,295 | (102,579) |
| Cash, cash equivalents, and restricted cash at beginning of period | 325,029 | 300,734 | 403,313 |
| Cash, cash equivalents, and restricted cash at end of period | $369,817 | $325,029 | $300,734 |
| Reconciliation of cash, cash equivalents, and restricted cash | |||
| Cash and cash equivalents | $368,097 | $323,710 | $300,635 |
| Restricted cash included in prepaid expenses and other current assets | 658 | 774 | — |
| Restricted cash included in other noncurrent assets, net | 1,062 | 545 | 99 |
| Total cash, cash equivalents, and restricted cash | $369,817 | $325,029 | $300,734 |
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