Grace Wong's questions to Remitly Global Inc (RELY) leadership • Q1 2025
Question
Grace Wong of BMO Capital Markets inquired about the drivers behind the declining marketing spend per active user, asking if it reflects a less competitive environment or improved word-of-mouth referrals.
Answer
CFO Vikas Mehta attributed the marketing leverage to an improved product experience, targeted campaigns, and strong performance from organic channels like SEO and word-of-mouth. He indicated this has been a consistent trend for three quarters and, while the strength will continue, year-over-year comparisons will become more challenging in the second half of 2025.