By Elias Schisgall

Shares of Remitly Global rallied after the company swung to a profit in the fourth quarter and gave revenue guidance for the quarter and the year that both topped Wall Street's forecast.

Shares climbed 29% to $17.58 in midday trading on Thursday. The stock is down 32% over the past 12 months.

The financial services company, which reported its results after the close on Wednesday, also said it had named Sebastian Gunningham its new chief executive officer. He succeeds Matt Oppenheimer, who will continue to serve as board chair.

Gunningham, whose appointment was effective Thursday, has experience across financial services, technology, and high-growth digital businesses, the company said. He also worked for more than a decade at Amazon as a senior vice president and member of the executive S-Team.

The executive change came as Remitly reported a profit of $41.2 million, or 19 cents a share, compared with a loss of $5.7 million, or 3 cents a share, a year earlier.

Revenue grew to $442.2 million, up from $351.9 million in the same period a year ago. Analysts polled by FactSet were expecting revenue of $427.4 million.

For the current quarter, the company is expecting revenue to grow 21% to between $436 and $438 million. Analysts had been expecting $429.8 million prior to the earnings release.

Remitly projected full-year revenue of between $1.94 billion and $1.96 billion, while analysts had been expecting $1.92 billion, also prior to the earning release.

The company said it expects to turn a profit for both the first quarter and the full year.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

February 19, 2026 12:28 ET (17:28 GMT)

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