Wise Now Expects Upper-Half Revenue Growth

Wise Group (LON: WISE), the cross-border payments company, now expects full-year net revenue growth in the upper half of its 15-20% medium-term range. Its first-half results, published at 7am today, also point to a pre-tax margin around the top of its 20-25% range.

The shares traded at 870.2p at about 8.48am, up 4.77% on yesterday’s close of 830.6p, within a day range of 858.0p to 910.8p. The results landed before the London open, so the timing is consistent with them driving the move.

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For the six months to the 30th of September, net revenue rose 23% to $1,453.1m from $1,183.8m a year earlier. Active customers rose 21% to 16.2m, including 4.1m new ones, and cross-border volume rose 24% to $141.0bn, led by the US and Asia Pacific. Guidance is in constant currency, meaning growth with exchange-rate effects stripped out: Wise expects 17.5% to 20% for the full year.

Chief executive Kristo Käärmann, the co-founder, framed the period around usage:

More than 16 million people and businesses used Wise in the past six months. These customers moved $141 billion across borders, up 24% year on year.

Kristo Käärmann, Wise

Growth came at a price. Operating expenses rose 28% to $1,150.3m, outpacing revenue, and the take rate, the fee Wise earns as a share of money moved, fell 2 basis points to 0.50% as it reinvested part of its operating leverage in lower prices. Pre-tax income rose 9%, a 23% margin against about 26% a year earlier.

Metric	H1 FY27	H1 FY26	Change
Net revenue ($m)	1,453.1	1,183.8	+23%
Cross-border volume ($bn)	141.0	113.9	+24%
Operating expenses ($m)	1,150.3	898.9	+28%
Income before tax ($m)	334.9	306.7	+9%
Net income ($m)	249.2	234.8	+6%

Even after today’s gain, the shares sit 13.8% below the 1,010p close of the 13th of May, though above the 806p to 851p range of closes over the past fortnight.

With pre-tax profit up 9% against 23% revenue growth, the next leg depends on whether heavy investment in technology, marketing and servicing turns into margin.