Wise reports higher full-year revenue, customer activity

(Sharecast News) - Wise reported higher full-year revenue and customer activity on Friday, as cross-border volumes rose strongly and the money transfer group set out plans for a new share purchase programme of more than $500m. The company said active customers increased 21% to 19 million in the year ended 31 March, while cross-border volumes rose 31% to $243.5bn. Net revenue grew 19% to $2.5bn, although income before tax fell to $660.4m from $717.5m, reflecting a 26% margin.

Customer holdings increased 40% to $39bn, card spend rose 37% to $43.6bn, and the average cross-border take rate fell six basis points to 0.52%.

Chief executive Kristo Käärmann said Wise had added licences, direct connections, product features and platform partners during the year, helping 19 million customers move $243bn globally.

"With $43trn moved across borders by people and businesses every year, we remain focused on the opportunity ahead and building 'the' network for the world's money," he said.

Wise said it expected FY2027 net revenue growth around the middle of its 15% to 20% medium-term target range on a constant currency basis, with income before tax margin around the top of the 20% to 25% range.

At 1126 BST, shares in Wise Group were up 6.58% in London at 884.6p.

Reporting by Josh White for Sharecast.com.

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