Wise (WISE) H2 2025 earnings summary

Executive summary

• Achieved strong double-digit growth in FY2025, with active customers up 21% to 15.6 million and cross-border volume up 23% to £145.2bn year-over-year.

• Underlying income rose 16% to GBP 1.4 billion, and profit before tax increased 17% to GBP 282 million.

• Continued expansion of global infrastructure, including new direct connections, regulatory licenses, and Wise Platform partnerships with major banks.

• Investments in product development and customer experience supported increased engagement and market penetration.

• Announced proposal for a dual primary listing in the U.S. to improve liquidity and access to growth opportunities, while retaining U.K. listing.

Financial highlights

• Underlying income grew 16% to GBP 1.4 billion, with 18% growth in the personal segment.

• Profit before tax reached GBP 282 million, up 17% year-over-year; reported profit before tax surged to GBP 565 million, driven by additional interest income.

• Customer holdings increased 29% to GBP 17.1 billion, with GBP 4.5 billion in assets under management (up 55%).

• Card and other revenues rose 45% year-over-year, with card revenue at GBP 200–220 million and other revenue at GBP 152 million.

• Underlying gross profit margin improved to 75% (+2ppts year-over-year).

Outlook and guidance

• Targeting 15–20% CAGR in underlying income and 13–16% underlying PBT margin, with ongoing price reductions as scale efficiencies are passed to customers.

• Continued investment in infrastructure, marketing, and product development, with GBP 2 billion planned over the next two years.

• Reported PBT anticipated to remain higher than underlying PBT due to additional interest income.