Wise PLC

Latest Results (18.12.2024):

Revenue Growth

Wise PLC reported a significant increase in revenue for the first half of fiscal year 2025, ending on September 30, 2024. The company achieved a revenue of £591.9 million, marking a 19% growth compared to the same period in the previous year. This growth was driven by an increase in active customers and cross-border transaction volumes.

Profitability

Wise PLC's underlying operating profit for H1 FY2025 was £156.5 million, representing a 52% increase from H1 FY2024. The reported profit before tax also saw a substantial rise, reaching £292.5 million, which is a 51% increase year-over-year. This improvement in profitability highlights the company's effective cost management and operational efficiency.

Customer Growth

During the first half of FY2025, Wise PLC experienced a 25% increase in active customers, reaching a total of 11.4 million. This growth was primarily driven by the personal segment, which saw a 25% increase, while the business segment grew by 11%. The expansion of Wise's customer base contributed significantly to the company's overall financial performance.

Cross-Border Volume

Wise PLC reported a 19% increase in cross-border transaction volume for H1 FY2025, with a total of £68.4 billion moved. This growth was supported by both personal and business segments, which saw increases of 20% and 18%, respectively. The company's ability to facilitate a higher volume of transactions underscores its expanding market presence.

Outlook

Looking ahead, Wise PLC remains focused on expanding its global payments network and enhancing its infrastructure to support instant payments. The company aims to continue investing in its capabilities to reduce costs and improve customer experience, positioning itself as a leading provider in the cross-border payments market. Wise's strategic initiatives are expected to drive further growth and profitability in the coming years.