Shares of Remitly Global, Inc. (RELY) surged 10.29% in pre-market trading on Thursday, following the company's impressive first-quarter earnings report and raised full-year guidance. The digital financial services provider for immigrants and their families demonstrated strong financial performance, beating analyst expectations and showing promising growth prospects.

Remitly reported a significant turnaround in its Q1 earnings, posting a profit of $0.05 per diluted share, compared to a loss of $0.11 in the same period last year. This result surpassed analysts' expectations, who had predicted a loss of $0.02 per share. The company's revenue for the quarter ended March 31 reached $361.6 million, up from $269.1 million a year earlier and exceeding the FactSet consensus estimate of $347.7 million.

Adding to the positive sentiment, Remitly raised its full-year 2025 revenue guidance to a range of $1.57 billion to $1.59 billion, up from the previous forecast of $1.57 billion to $1.58 billion. This optimistic outlook, coupled with the strong Q1 results, has garnered attention from analysts. William Blair analyst Christopher Kennedy reiterated a Buy rating on RELY stock, highlighting the company's strong market position and growth potential. The positive momentum comes despite JP Morgan's recent target price cut from $30 to $25, suggesting that investors are focusing more on Remitly's current performance and future prospects.