Wise lifts full-year revenue outlook

(Sharecast News) - Wise lifted its full-year outlook for revenue growth on Friday as it posted a jump in second-quarter revenue.

In the quarter to 30 September, net revenue rose 21% to $739.1m, with transaction revenue up 22% to $561.3m and active customers up 20% to 12.5m. Cross-border volume was 22% higher at $71.7bn and customer holdings increased 28% from the same period a year earlier to $43.5bn.

For FY27, Wise now expects net revenue growth to be in the upper half of its medium-term target range of 15% to 20% on a constant currency basis. The company continues to expect income before tax margin around the top of its 20% to 25% range, with the margin for the first half expected to be around 23%.

Co-founder and chief executive Kristo Käärmann said: "More than 12 million customers chose Wise this quarter to move over $70 billion around the world, paying 49bps on average, with 78% of transfers completed instantly. Customers are also using Wise for more of their everyday financial needs - spending $14 billion on Wise cards and increasing holdings to $44 billion.

"We continued to expand our network, products and features so Wise can serve more people and businesses around the world. This quarter, we went live in Malaysia with our ninth direct integration, launched the Wise Account and Wise Card in Thailand, introduced Wise Assets in New Zealand and announced our Wise Platform partnership with OakNorth to power international payments for its UK business customers.

"We are building the network for the world's money - making Wise easier, cheaper and faster to use as we scale."

See latest RNS on Sharecast