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    Grace Wong

    Research Analyst at BMO Capital Markets

    Grace Wong is an analyst at BMO Capital Markets, holding the position of Vice President, where she specializes in equity research within the Canadian financial sector. Her coverage focuses on major Canadian banks and financial institutions, delivering in-depth company-specific analysis and actionable investment recommendations. Throughout her career at BMO Capital Markets, which she joined after building foundational experience in financial analysis, Wong has earned recognition for her rigorous research and consistent track record, with her published recommendations achieving a competitive success rate among peers. She holds advanced professional credentials including a CFA charter and has completed all necessary securities licensing for her analyst role.

    Grace Wong's questions to Remitly Global (RELY) leadership

    Grace Wong's questions to Remitly Global (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.

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