Wise Group (WSE) H1 2027 earnings summary

Executive summary

• Active customers rose 21% YoY to 16.2m; cross-border volume increased 24% to $141.0bn and net revenue rose 23% to $1,453.1m.

• Customer holdings grew 28% to $43.5bn, including $11.4bn in Assets under custody; annual activity supported by the infrastructure exceeded $1tn.

• Income before tax was $334.9m, with a 23% margin; growth reflected customer engagement, broader revenue streams and continued investment.

Financial highlights

• Transaction revenue increased 25% YoY to $1.1bn; cross-border revenue rose 19% to $705.0m, card revenue 43% to $252.0m and other revenue 27% to $145.2m.

• Net revenue grew 23% reported and 22% on a constant-currency basis; net income increased 6% to $249.2m.

• Operating expenses increased 28% to $1,150.3m; transaction expenses fell 12% to $229.7m, reflecting efficiencies and improved supplier terms.

• Technology and development expense rose 51% to $292.2m, servicing expense 40% to $250.6m and G&A 41% to $256.7m; G&A included $15m of listing expenses.

• Interest income increased 16% to $463.6m; $112.7m was paid on customer liabilities. Average central-bank rates were 2.9% versus 3.2% a year earlier.

Outlook and guidance

• FY2027 net revenue growth is guided to 17.5–20% on a constant-currency basis, the upper half of the 15–20% medium-term range.

• FY2027 income-before-tax margin is expected around the top of the 20–25% range.

• Guidance assumes no material central-bank rate changes and no material change in the proportion of interest returned to customers; it excludes income or expense from further rate changes.

• H2 investment growth excluding one-offs and operating-expense growth are expected to moderate; operating leverage remains a focus, with spending maintained where returns are attractive.