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Nov 2026 / © 2026 Remitly Inc. Investor PresentationThird Quarter 2026 Earnings November 4, 2026
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Nov 2026 / © 2026 Remitly Inc. 2 Forward-Looking StatementsThis presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding future events or our future results of operations and financial position, including our fiscal year and fourth quarter 2026 financial outlook, including forecasted fiscal year and fourth quarter 2026 revenue, net income, and Adjusted EBITDA, anticipated future expenses and investments, expectations relating to certain of our key financial and operating metrics, our business strategy and plans, our growth, our position and potential opportunities, and our objectives forfuture operations. The words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,”“will,” “would,” or similar expressions and the negatives of those terms are intended to identify forward-looking statements. Forward-looking statements are based on management’s expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to our expectations regarding our revenue, expenses, and other operating results; our ability to acquire new customers and successfully retain existing customers; our ability to continue to develop newproducts and services in a timely manner; our ability to sustain our profitability; our ability to maintain and expand our strategic relationships with third parties; our business plan and our ability to effectively manage our growth; anticipated trends, growth rates, and challenges in our business and in the market segments in which we operate; our ability to effectively integrate and leverage artificial intelligence andmachine learning technologies; our ability to attract, integrate, and retain qualified employees, including key members of our management team; uncertainties regarding the impact of geopolitical and macroeconomicconditions, including currency fluctuations, inflation, regulatory changes (including as may be related to immigration, fiscal and tax policy, foreign trade, or foreign investment), regional and global conflicts or related government sanctions, or legislative or regulatory developments; our ability to maintain the security and availability of our solutions; our ability to maintain our money transmission licenses and other regulatory clearances or obtain new licenses and regulatory clearances; our ability to maintain and expand international operations; our expectations regarding anticipated technology needs and developments andour ability to address those needs and developments with our solutions; and our stock repurchase program, the timing and number of shares of our common stock to be repurchased, and the potential benefits thereof. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, our actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results is included in our quarterly report on Form 10-Q for the quarter ended September 30, 2026, to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2025, filed with the SEC, which are or will be available on our website at https://ir.remitly.comand on the SEC’s website at www.sec.gov. The forward-looking statements in this presentation speak only as of the date of this presentation and except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. The guidance inthis presentation is only effective as of the date given, November 4, 2026, and will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance. Distribution of or reference to this deck following November 4, 2026, does not constitute re-affirming guidance by Remitly. Non-GAAP Financial MeasureA reconciliation of GAAP to non-GAAP financial measures has been provided in the Appendix included in this presentation. An explanation of these measures is also included in the Appendix within this presentation under the heading “Non-GAAP Financial Measures.” We have not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income or to forecasted GAAP income before income taxes within this presentation because we cannot, without unreasonable effort, calculate certain reconciling itemswith confidence due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. These items include, but are not limited to, income taxes, stock-based compensation expense, and payroll taxes related to stock-based compensation expense, net, which are directly impacted by unpredictable fluctuations in the market price of our common stock.The variability of these items could have a significant impact on our future GAAP financial results. Disclosures
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3QStrategic OverviewSebastian J GunninghamCEO 3Nov 2026 / © 2026 Remitly Inc.
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Nov 2026 / © 2026 Remitly Inc. 3Q 2026 Revenue 3Q 2026 Profitability 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Please see reconciliationof non-GAAP measures to the most comparable GAAP measures in the Appendix. 4 Record revenue and record Adjusted EBITDA $510mup 22% YoY $67.6mNet Income up 665%YoY $120.8mAdj. EBITDA up 97% YoY 24%Adj. EBITDA Margin 1 1
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Nov 2026 / © 2026 Remitly Inc. Receivers 1. Remitly Q3-26 data: Disbursement speed reflects the time between when Remitly has the customer funds and when the funds are successfully disbursed (e.g., completed or available for pickup). 5 Consumer Remittances ●Launchedfirst send and receiveapp experience in Brazil●Extended reach, adding access to 11 million global accounts●Increased speed, with~84% of transfers1delivered in <1 min. ●Grew volume 50%+ over the last 12 mos.●Launched Remitly Reserve with Fxprotection and guaranteed instant bank transfers ●50+ million relationships across senders and recipients over the last 12 mos.●Launched Send and Request with Text to make sending and requesting money as easy as a text, grow users from the Receive-side Core SendersLarge TransfersRecipients Key updates across our three growth enginesConsumer RemittancesBusiness PaymentsRemitly Global Card
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Nov 2026 / © 2026 Remitly Inc. Remitly Global Card 6 Business Payments ●More than $40 Trillion1opportunity, leveraging existing network infrastructure●Surpassed 30,000 business customers2, and growing●Extended network access to platform partners, signing Etsy as our first partner deal ●Launched Remitly Global Card in Q3, a complete card for those with cross-border lives●Added SmartRateand eSimto membership benefits●Added domestic send and receive, allowing US cardholders to send and receive anywhere in the US 1. Business payments opportunity now includes large enterprise TAM of $21.6T combined with the $20.2T SMB opportunity as we signed Etsy as our platform partner. TAM based on estimates from FxCIntelligence and internal estimates. 2. A Remitly business customer is a business that has completed a transaction in the past quarter. Key updates across our three growth enginesConsumer RemittancesBusiness PaymentsRemitly Global Card
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Nov 2026 / © 2026 Remitly Inc. 7 Addressing top investor questions Nov 2026 / © 2026 Remitly Inc. Neobanks How would you compete with the neobanks?Neobanks and fintechs are converging on the same set of products. We built the hardest part first: a global, cross-border money movement network. Stablecoins Do stablecoins impact Remitly?Blockchain is another rail we can use to transfer value across borders. We own the customer relationship and the experience and deliver the last mile. Pricing How stable is remittance pricing in the long-term?The lowest cost to serve wins. Our scale advantages and advanced pricing engine helped drive transaction margin dollars 27% higher YoY in Q3. Diversification Are you diversifying beyond consumer remittances?We continue to gain share in Consumer remittance. Business Payments and Card build on our network advantages and diversify revenues.
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3QFinancial Results 8Nov 2026 / © 2026 Remitly Inc. Vikas MehtaCFO
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RevenueProfitabilityScale 3Q —Excellent results across the board 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Please see reconciliation of non-GAAP measuresto the most comparable GAAP measuresin the Appendix. 9Nov 2026 / © 2026 Remitly Inc. 10.3m17% YoY growth in quarterly active customers $24.4b25% YoY growth in send volume $510m22% YoY growth in revenue $120.8m97% YoY growth in Adj. EBITDA $67.6m665% YoY growth in Net Income 24%Adj. EBITDA Margin 1 1
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Quarterly Active Customers1(in millions) Transaction Margin Dollars2(in $ millions) Revenue(in $ millions) Send Volume(in billions)Send Volume(in $ billions) Continued momentum across key drivers of revenue growth 10Nov 2026 / © 2026 Remitly Inc. YoY % Growth25%26%25%20%22%YoY % Growth35%35%37%27%25% YoY % Growth21%19%20%19%17% YoY % Growth23%30%28%25%27% 1. 2Q26 quarterly active customers was revised from 10.2M to 10.1M due to a data migration correction. No other periods were impacted.2. Transaction margin dollars is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. Operating Income$12$39$54$67$69
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Nov 2026 / © 2026 Remitly Inc. Recipients 1. Large transfers include individuals sending $5,000 or more per transaction.2. Estimated unique recipients of transfers sent by Remitly customers over the last 12 months. Because recipient details are provided by senders, we estimate unique recipients by matching recipient phone numbers where available and, where no phone number is provided, by full name and country.3. A Remitly business customer is a business that has completed a transaction in the past quarter. Remitly Global Card ●Ability to unlock relationships with over tens of millions recipients2●Launched Send and Request with Text to bring more recipients into the Remitly ecosystem ●Global Card now generally availablein the U.S.●Paid cards are outperforming prior offeringsonadoption and retention LargeTransfers●25% YoY volume growth●80% YoY growth in volume outside India receive, an acceleration from Q2 Consumer Remittances Business Payments ●>30kRemitly business customers in 3Q3●Second consecutive quarter of accelerating volume growth●Launch of Send with Text, Bulk Send, Platform business Newer businesses continue to scale 1 11
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Nov 2026 / © 2026 Remitly Inc. 12 Delivering operating efficiencies across the board 1. Transaction margin is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measuresin the Appendix. Transaction expenses include fees paid to disbursement partners for paying funds to the recipients, provisions for transaction losses, and fees paid to paymentprocessors for funding transactions, along with chargebacks, fraud prevention, fraud management tools, and compliance tools.2. Operating expenses are non-GAAP measures. Please see reconciliation of non-GAAP measures to the most comparable GAAP measuresin the Appendix. 3Q 26 Year-over-Year ChangePerformance Drivers Transaction Margin1 TM 312bps●Lower transaction expenses, reflecting improved network economics●Lower transaction losses as a % of send volume Non-GAAP Operating Expenses as a % of Revenue2 Marketing119bps●Continued discipline while expanding brand campaigns●Brand marketing investments aiding word of mouth and unpaid acquisition CS83bps●Product improvements driving lower contact rates●Increasing automation, including AI-driven virtual assistant T&D216bps●AI driving Improved productivity with same headcount●Reduction in per token spend, partially offset by higher token use G&A180bps●Continued, rigorous focus on operating discipline●Ongoing rationalization of geographic footprint
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Nov 2026 / © 2026 Remitly Inc. 13 Transaction margin dollars per active customer1By quarterly cohort and tenure quarter ($)2 Send volume per active customerBy quarterly cohort and tenure quarter ($)2Lifetime value of new cohorts continues to expandNew customersstay active longer, send larger amounts, and cost less to serve 1Q21 3Q 20261Q 2021 3Q 20261Q 2021 1Q21 1. Transaction margin dollars per active customer is the cohort's transaction margin dollars in each tenure quarter divided by the cohort's active customers in that quarter. Transaction margin dollars is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix.2. A cohort is defined as the calendar quarter of the customer’s first completed transaction.
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Note: $ and share count in millions.1. Adjusted net income, adjusted net income margin, adjusted EBITDA, adjusted EBITDA margin, free cash flow, and free cash flow margin are non-GAAP measures. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix.2. Outstanding shares reflect ending shares outstanding for the periods presented.3. Operating cash flow for Q3 and Q4 2025has been reclassified in line with Q4 2025change in presentation. Operating leverage drove strong growth in Net Income, and Adj. EBITDA 14Nov 2026 / © 2026 Remitly Inc. Adjusted Net Income1 Outstanding Shares2 Free Cash Flow1 Adjusted EBITDA1 FCF Margin19%20%16%26%17% Adj. EBITDA Margin15%20%22%23%24% Adj. NetIncomeMargin2%9%11%13%14% YoY % Growth6%5%3%3%2% Operating Cash Flow3$90$100$82$135$93 Net Income$9$41$49$206$68 Net Income$9$41$49$206$68
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Note: We anticipate year over year growth for net income for the fourth quarter 2026 and full year 2026. This guidance is only effective as of the date given, November 4, 2026, and will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance. Distribution or reference of this deck following November 4, 2026, does not constitute re-affirming guidance. We cannot, without unreasonable effort, provide a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income or to forecasted GAAP income before income taxes due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. 15Nov 2026 / © 2026 Remitly Inc. 2026 $1.989b -$1.991b2026 Revenue, 22% YoY growth $441m -$443m2026 Adj. EBITDA, 22% Adj. EBITDA margin 4Q 2026 $531m -$533m4Q 2026 Revenue, 20 to 21% YoY growth $104m -$106m4Q 2026 Adj. EBITDA, 20% Adj. EBITDA margin 2026 and 4Q 2026 Outlook
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Q & A 16Nov 2026 / © 2026 Remitly Inc.
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Thank you.
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Appendix 18Nov 2026 / © 2026 Remitly Inc.
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Nov 2026 / © 2026 Remitly Inc. 19 Some of the financial information and data contained in this presentation, such as Adjusted EBITDA, transaction margin dollars, transaction margin, adjusted net income, non-GAAP operating expenses, and free cash flow, have not been prepared in accordance with accounting principles generally accepted in the United States of America("GAAP").We regularly review our key business metrics and non-GAAP financial measures to evaluate our performance, identify trends affecting our business, prepare financial projections, and make strategic decisions. We believe that these key business metrics and non-GAAP financial measures provide meaningful supplemental information for management and investors in assessing our historical and future operating performance. Specifically, the company believes the non-GAAP measures provide useful information to both management and investors by excluding certain items that may not be indicative of its recurring core operating results and business outlook. Our non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented herein in conjunction with our financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this presentation for a reconciliation of these non-GAAP financial measures to the most comparable financial measure prepared in accordance with GAAP.We calculate Adjusted EBITDA as net income adjusted by (i) interest (income) expense, net; (ii) (benefit from) provision for income taxes; (iii) noncash charges of depreciation and amortization; (iv) other (income) expense, net; (v) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment; (vi)noncash stock-based compensation expense, net; (vii) payroll taxes related to stock-based compensation expense, net; and (viii) certain restructuring and other costs. We calculate non-GAAP operating expenses as our GAAP operating expenses adjusted by (i) noncash stock-based compensation expense, net; (ii) payroll taxes related to stock-based compensation expense, net; (iii) noncash charges associatedwith our donation of common stock in connection with our Pledge 1% commitment; as well as (iv) certain restructuring and other costs. Adjusted EBITDA and non-GAAP operating expenses are key output measures used by our management to evaluate our operating performance, inform future operating plans, and make strategic long-term decisions, including those relating to operating expenses and the allocation of internal resources. We believe that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. We calculate transaction margin dollars as income from operations, excluding expenses related to (i) customer support and operations; (ii) marketing; (iii) technology and development; (iv) general and administrative; and (v) depreciation and amortization. Transaction margin dollars can also be calculated as revenue less transaction expenses. We calculate transaction margin as transaction margin dollars divided by revenue. Transaction margin dollars and transaction margin are non-GAAP financial measures that management uses to evaluate the economic returns generated by the company's platform. We believe that transaction margin dollars provides useful information in understanding and evaluating our financial results. We calculate adjusted net income as net income adjusted for discrete income tax (benefit) expense from the release of our U.S. valuation allowance in 2026. We believe that adjusted net income provides useful information for comparing our results across periods because these discrete tax effects are not indicative of our ongoing operational performance. We calculate free cash flow as net cash provided by operating activities adjusted for capitalized expenditures that include purchases of property and equipment and capitalized internal-use software. Free cash flow is a key measure used by our management to understand the strength of our liquidity and available cash, and we believe thatthe presentation of this measure is useful because we are focused on growing our free cash flow generation over time. Free cash flow is not intended to represent the total increase or decrease in our cash balance for the period. Non-GAAP Financial Measures
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Nov 2026 / © 2026 Remitly Inc. Reconciliation of net income to Adjusted EBITDA and calculation of Adjusted EBITDA margin (in thousands, except for percentages)3Q 20262Q 20261Q 20264Q 20253Q 2025 20 Non-GAAP ReconciliationNet income $67,553$205,908$49,053$41,216$8,829Add:Interest (income) expense, net6221,66778476250(Benefit from) provision for income taxes2,203(141,264)3,022(5,067)3,594Depreciation and amortization6,7306,3076,1996,8786,434Other (income) expense, net(976)3708811,904(696)Donation of common stock1,191957765612858Stock-based compensation expense, net39,62734,49127,53641,28239,974Payroll taxes related to stock-based compensation expense, net1,7222,0611,7727581,642Restructuring and other costs2,1324,24511,538239496Adjusted EBITDA $120,804$114,742$101,550$88,584$61,181 Revenue $509,839$495,156$452,802$442,177$419,494 Adjusted EBITDA margin 23.7%23.2%22.4%20.0%14.6% Note: Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue.
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Nov 2026 / © 2026 Remitly Inc. Reconciliation of transaction margin dollars and transaction margin (in thousands, except for percentages)3Q 20262Q 20261Q 20264Q 20253Q 2025 21 Non-GAAP ReconciliationIncome from operations $69,402$66,681$53,740$38,815$11,777Add:Customer support and operations27,79726,63926,81127,19326,386Marketing 103,971104,38886,36292,80091,778Technology and development80,10374,04979,60382,13980,421General and administrative59,40355,91855,14756,74655,973Depreciation and amortization6,7306,3076,1996,8786,434Transaction margin dollars$347,406$333,982$307,862$304,571$272,769 Revenue $509,839$495,156$452,802$442,177$419,494 Transaction margin 68.1%67.4%68.0%68.9%65.0% Note: Transaction margin is defined as transaction margin dollars divided by revenue.Transaction Margin Dollars is calculated in the same manner as the measure we previously referred to as "Revenue Less Transaction Expenses" (RLTE) in prior periods. Prior period Transaction Margin Dollar amounts reflect historical RLTE results.
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Nov 2026 / © 2026 Remitly Inc. Reconciliation of net income to adjusted net income (in thousands)3Q 2026 2Q 20261Q 20264Q 20253Q 2025 22 Non-GAAP ReconciliationNet income $67,553$205,908$49,053$41,216$8,829Add:Discrete income tax (benefit) expense from release of valuation allowance1 4,147(140,607)- - -Adjusted net income $71,700$65,301$49,053$41,216$8,829 Revenue $509,839$495,156$452,802$442,177$419,494 Adjusted net income margin14.1%13.2%10.8%9.3%2.1% Note: Adjusted net income margin is defined as adjusted net income divided by revenue.1. Discrete income tax (benefit) expense relates to the release of the U.S. valuation allowance in 2026.
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Nov 2026 / © 2026 Remitly Inc. Reconciliation of cash flows from operations to free cash flow and calculation of free cash flow margin (in thousands, except for percentages)3Q 20262Q 20261Q 20264Q 20253Q 2025 23 Non-GAAP ReconciliationNet cash provided by operating activities1 $93,014$134,620$81,892$99,909$89,700Less:Purchases of property and equipment(1,371)(1,184)(5,987)(6,361)(4,586)Capitalized internal-use software costs (3,862)(3,332)(3,199)(3,051)(3,326)Free cash flow $87,781$130,104$72,706$90,497$81,788 Revenue $509,839$495,156$452,802$442,177$419,494 Free cash flow margin 17.2%26.3%16.1%20.5%19.5% Note: Free cash flow margin is defined as free cash flow divided by revenue.1. Beginning in the fourth quarter of 2025, the Company changed the presentation of certain cash activity related to customerfunds assets and liabilities, which is comprised of disbursement prefunding, customer funds receivable, customer liabilities, and trade settlement liability included within the line item “Accrued expenses and other current liabilities” on the Consolidated Balance Sheets. Certain components of this activity were reclassified from cash flows from operating activities to cash flowsfrom financing activities, reflected within the line item “Net change in customer funds assets and liabilities.” “Net cash provided by operating activities” for prior quarters have been reclassified in line with Q4 2025 change in presentation.
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Nov 2026 / © 2026 Remitly Inc. Reconciliation of operating expenses to non-GAAP operating expenses (in thousands) 3Q 20262Q 20261Q 20264Q 20253Q 2025 Customer support and operations$27,797$26,639$26,811$27,193$26,386Excluding: Stock-based compensation expense, net504 417309411455Excluding: Payroll taxes related to stock-based compensation expense, net7 7 5 3 5Excluding: Restructuring and other costs33 - 1,644- -Non-GAAP customer support and operations$27,253$26,215$24,853$26,779$25,926Marketing $103,971$104,388$86,362$92,800$91,778Excluding: Stock-based compensation expense, net3,2185,5302,1734,3874,010Excluding: Payroll taxes related to stock-based compensation expense, net526 40941330271Excluding: Restructuring and other costs- 1,9791,709- 35Non-GAAP marketing $100,227$96,470$82,439$88,083$87,462Technology and development$80,103$74,049$79,603$82,139$80,421Excluding: Stock-based compensation expense, net22,75915,93917,15825,65624,392Excluding: Payroll taxes related to stock-based compensation expense, net762 1,1271,268272475Excluding: Restructuring and other costs2991,4753,463- 171Non-GAAP technology and development$56,283$55,508$57,714$56,211$55,383General and administrative$59,403$55,918$55,147$56,746$55,973Excluding: Stock-based compensation expense, net13,14612,6057,89610,82811,117Excluding: Payroll taxes related to stock-based compensation expense, net427 518458153891Excluding: Donation of common stock1,191957765612858Excluding: Restructuring and other costs1,8007914,722239290Non-GAAP general and administrative$42,839$41,047$41,306$44,914$42,81724 Non-GAAP Reconciliation