Remitly Global, Inc.RELY

Remitly Global, Inc. Earnings Per Share Disclosure

10-KFiled Feb 18, 20262 min read
Net Income (Loss) Per Common Share
The following table presents the calculation of basic and diluted net income (loss) per share attributable to common stockholders for the periods indicated. Basic net income (loss) per share is calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is calculated using the weighted-average number of shares of common stock outstanding including the dilutive effect of all potential shares of common stock as determined under the treasury stock method. Dilutive common shares primarily include outstanding stock options, unvested RSUs, and ESPP related shares. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive.
Years Ended December 31,
(in thousands, except share and per share data)202520242023
Numerator:
Net income (loss) attributable to common stockholders    
$67,933 $(36,978)$(117,840)
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders:
Basic
205,833,196 194,646,436180,818,399 
Effect of dilutive securities
11,736,700 — — 
Diluted
217,569,896 194,646,436 180,818,399 
Net income (loss) per share attributable to common stockholders:
Basic
$0.33 $(0.19)$(0.65)
Diluted
$0.31 $(0.19)$(0.65)
The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive:
As of December 31,
202520242023
Stock options outstanding— 8,240,251 10,801,396 
RSUs outstanding9,881,815 23,886,131 23,555,665 
ESPP568,761 2,005,433 791,226 
Shares subject to repurchase— — 8,657 
Unvested common stock, subject to service-based vesting conditions, issued in connection with acquisition(1)
— 52,040 104,080 
Equity issuable in connection with acquisition(1)
— — 133,309 
Total10,450,576 34,183,855 35,394,333 
__________________
(1) Refer to Note 7. Business Combinations for further discussion of equity issued or to be issued in connection with the Rewire acquisition.

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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