Wise Lifts Revenue Outlook as Cross-Border Payments Grow
The company expects fiscal 2027 net revenue growth near the top of its target range after quarterly revenue rose 21%.
Key takeaways
- Wise expects fiscal 2027 net revenue growth near the upper end of its 15% to 20% target range.
- Second-quarter cross-border payment volumes rose 22% to $71.7 billion.
Wise raised its fiscal 2027 net revenue growth outlook to near the upper end of its 15% to 20% target range. Second-quarter net revenue increased 21% to $739.1 million.
Cross-border payment volumes rose 22% to $71.7 billion, and active customers grew 20% to 12.5 million. Customer holdings increased 28% to $43.5 billion.
The cross-border take rate fell to 0.49% from 0.52% a year earlier as Wise lowered prices to attract customers. The company maintained its income-before-tax margin outlook near the top of its 20% to 25% range.
As of 10:31 UTC on Oct. 16, Wise shares traded at 885 pence, down 1.95% from the previous close.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.