REG - Wise PLC - Q4 FY2026 Trading Update

WiseAnnouncement

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RNS Number : 1563A  Wise PLC  13 April 2026

13 April 2026

Strong volume growth of 27%(1) and customer holdings up 37%

Update on Dual Listing

 

●     Quarterly cross-border volume grew +26% YoY (+27% on a constant
currency basis), to £49.4bn, with 11.3m active customers in Q4 (+22% YoY)

●     Continued diversification of income through the Wise account, with
customer holdings growing by +37% to £29.4bn, and card and other revenue up
+29% YoY

●     Wise Business active customers in the quarter rose +26% YoY to
572,000 as volumes grew strongly again (+35% YoY)

●     Cross-border take rate reduced 1bp in the quarter to 51bps, and is
down from 53bps a year ago, reflecting a balanced approach to investing in
price and the business to support long-term growth

●     Underlying income was £435.3m in Q4 FY26, up +24% YoY, on both a
reported and constant currency basis

●     For FY26, growth in active customers, up 21% to 18.9m, combined
with the greater adoption of Wise account features, drove a 25% increase in
cross-border volume to £181.7bn and underlying income growth of 18% to
£1,609.2bn on a reported basis. On a constant currency basis, underlying
income grew 19% to £1,619.7bn for the year

●     Continue to expect FY26 underlying PBT margin to be towards the
top of the 13-16% range (including costs related to the Dual Listing) as we
remain focused on investing in long-term growth and becoming 'the' network for
the world's money

●     FY26 results will be presented in USD and in accordance with US
GAAP, rather than GBP and IFRS, reflecting the expected completion of our Dual
Listing this quarter

 

"We are making good progress on building the network for the world's money.
Our infrastructure makes cross-border transactions cheaper and faster and, in
January, we became one of the first payment institutions to be granted
membership to Payments Canada, paving the way to direct access there.

 

"More and more people are using Wise at home or abroad for their everyday
spending, for paying bills, for savings and investments. That's why last month
we formally launched our UK current account with a physical branch concept on
Oxford Street in London."

 

-Kristo Käärmann, Co-founder and Chief Executive Officer

 

                                   Q4 FY26  Q4 FY25  YoY Movement  YoY

                                                                   Movement

                                                                   Constant

                                                                   CCY
 Cross-border volume (£ billion)   49.4     39.1     26%           27%
 Underlying income (£ million)     435.3    350.4    24%           24%
 Cross-border take rate (%)        0.51%    0.53%    -2 bps        -
 Instant transfers (%)             75%      65%      +10 pps       -

 

Update on Dual Listing

As announced on 5 June 2025, the Board proposed to transfer Wise's primary
listing to a US stock exchange and maintain a secondary listing on the London
Stock Exchange, in order to accelerate our path to become 'the' network for
the worldʼs money and create long-term value for our stakeholders. We believe
that the addition of a primary US listing would bring a number of strategic
and capital markets benefits to Wise and its owners, including greater
visibility in the United States, the biggest market opportunity for our
products today, and better access to the world's deepest and most liquid
capital market.

The proposal was duly approved by Wise shareholders at meetings convened on 28
July 2025. In connection with our primary US listing, a Registration Statement
(which has not yet been declared effective by the US Securities and Exchange
Commission (the "SEC") ) has been filed with the SEC and is available both on
the SEC's Electronic Data Gathering, Analysis, and Retrieval system ("EDGAR")
and our website at https://wise.com/owners/wise-dual-listing
(https://wise.com/owners/wise-dual-listing) . We remain on track to complete
our Dual Listing this quarter, with an expected listing date of 11 May 2026 on
Nasdaq.

 

 

Enquiries

Martin Adams - Investor Relations

owners@wise.com (mailto:owners@wise.com)

 

Sana Rahman - Communications

press@wise.com

 

Brunswick Group

Charles Pretzlik / Emily Murphy

Wise@brunswickgroup.com

+44 (0) 20 7404 5959

 

About Wise

 

Wise is a global technology company, building the best way to move and manage
the world's money.

 

With Wise Account and Wise Business, people and businesses can hold 40+
currencies, move money between countries and spend money abroad. Large
companies and banks use Wise technology too; an entirely new network for the
world's money. Launched in 2011, Wise is one of the world's fastest growing,
profitable tech companies.

 

In fiscal year 2025, Wise supported around 15.6 million people and businesses,
processing over £145 billion in cross-border transactions and saving
customers around £2 billion.

 

FORWARD LOOKING DISCLOSURE DISCLAIMER

This report may include forward-looking statements, which are based on current
expectations and projections about future events. These statements may
include, without limitation, any statements preceded by, followed by or
including words such as "forward looking", "guidance", "target", "believe",
"expect", "intend", "may", "anticipate", "estimate", "forecast," , "project",
"will", "can have", "likely", "should", "would", "could" and  any other words
and terms of similar meaning or the negative thereof. These forward-looking
statements are subject to risks, uncertainties and assumptions about Wise and
its subsidiaries. In light of these risks, uncertainties and assumptions, the
events in the forward-looking statements may not occur.

Past performance cannot be relied upon as a guide to future performance and
should not be taken as a representation that trends or activities underlying
past performance will continue in the future, and the statements in this
report speak only as at the date of this report. No representation or warranty
is made or will be made that any forward-looking statement will come to pass
and there can be no assurance that actual results will not differ materially
from those expressed in the forward-looking statements.

Wise expressly disclaims any obligation or undertaking to update, review or
revise any forward-looking statements contained in this report and disclaims
any obligation to update its view of any risks or uncertainties described
herein or to publicly announce the results of any revisions to the
forward-looking statements made in this report, whether as a result of new
information, future developments or otherwise, except as required by law.

Appendix - Historical Financials

 

 

 Quarterly                            Q4 FY2024  Q1 FY2025  Q2 FY2025  Q3 FY2025  Q4 FY2025  Q1 FY2026  Q2 FY2026  Q3 FY2026  Q4 FY2026  QoQ        Q YoY      QoQ        Q YoY

                                                                                                                                         Movement   Movement   Movement   Movement

                                                                                                                                                               Constant   Constant

                                                                                                                                                               CCY        CCY
 Active Customers (thousand)¹         7,911      8,374      8,892      9,047      9,291      9,797      10,440     10,897     11,290     4%         22%        -          -
 Personal (thousand)                  7,517      7,962      8,469      8,612      8,838      9,321      9,936      10,354     10,718     4%         21%        -          -
 Business (thousand)                  395        412        423        435        453        475        504        542        572        5%         26%        -          -

 Cross-border volume (£ billion)²     30.6       33.2       35.2       37.8       39.1       41.2       43.7       47.4       49.4       4%         26%        4%         27%
 Personal (£ billion)                 22.6       24.5       26.1       27.4       28.4       29.7       31.2       33.2       34.9       5%         23%        5%         23%
 Business (£ billion)                 8.0        8.7        9.1        10.4       10.7       11.5       12.5       14.2       14.4       2%         35%        2%         37%

 Customer balances (£ billion)³       13.3       14.1       14.7       16.2       17.1       18.1       19.7       21.2       22.6       7%         33%        -          -
 Personal (£ billion)                 7.9        8.4        9.0        9.8        10.5       11.3       12.4       13.1       14.2       8%         34%        -          -
 Business (£ billion)                 5.4        5.7        5.7        6.4        6.6        6.8        7.3        8.1        8.4        4%         30%        -          -

 Cross-border revenue (£ million)     204.6      211.2      207.9      212.9      208.4      214.8      226.1      245.4      251.4      2%         21%        2%         21%

 Card and other revenue (£ million)   72.6       80.0       92.8       97.8       100.9      103.3      113.8      127.4      130.2      2%         29%        2%         29%

 

Note: Differences between 'total' rows and the sum of the constituent
components of personal and business are due to rounding.

The split between personal and business is based on customer selection at
onboarding

¹ Total number of unique customers who have completed at least one
cross-border transaction in the given period.

² Cross-border volume only.

³ Customer balances do not include Assets Under Custody which are not
recognised on the balance sheet.

 

 

Appendix - Historical Financials (continued)

 Quarterly                                                   Q4 FY2024  Q1 FY2025  Q2 FY2025  Q3 FY2025  Q4 FY2025  Q1 FY2026  Q2 FY2026  Q3 FY2026  Q4 FY2026  QoQ        Q YoY      QoQ        Q YoY

                                                                                                                                                                Movement   Movement   Movement   Movement

                                                                                                                                                                                      Constant   Constant

                                                                                                                                                                                      CCY        CCY
 Underlying interest income (first 1pct yield) (£ million)   32.3       34.2       36.3       38.8       41.1       43.9       47.6       51.6       53.7       4%         31%        4%         30%
 Personal (£ million)                                        19.0       20.4       22.1       23.6       25.1       27.4       29.9       32.1       33.5       4%         33%        4%         32%
 Business (£ million)                                        13.3       13.8       14.2       15.2       16.0       16.5       17.7       19.5       20.2       4%         27%        4%         26%

 Underlying income (£ million)¹                              309.5      325.4      337.0      349.5      350.4      362.0      387.5      424.4      435.3      3%         24%        3%         24%
 Personal (£ million)                                        234.0      247.1      259.8      266.9      266.7      274.3      291.2      314.0      322.1      3%         21%        2%         20%
 Business (£ million)                                        75.5       78.3       77.2       82.6       83.7       87.7       96.3       110.4      113.2      3%         35%        3%         36%

 Interest income (above the first 1pct yield) (£ million)    109.6      114.3      115.9      110.0      103.7      103.2      102.7      102.1      96.7       (5%)       (7%)       (5%)       (7%)
 Personal (£ million)                                        64.3       68.0       70.4       67.0       63.5       64.4       64.5       63.5       60.2       (5%)       (5%)       (5%)       (5%)
 Business (£ million)                                        45.3       46.3       45.5       43.0       40.2       38.8       38.2       38.6       36.5       (6%)       (10%)      (6%)       (9%)

 Benefits paid relating to customer balances (£ million)     (37.9)     (41.3)     (43.5)     (38.2)     (38.2)     (36.0)     (37.3)     (37.2)     (36.4)     (2%)       (5%)       (2%)       (5%)
 Personal (£ million)                                        (22.6)     (24.8)     (26.5)     (24.3)     (23.6)     (22.7)     (23.7)     (23.8)     (22.8)     (4%)       (3%)       (4%)       (4%)
 Business (£ million)                                        (15.3)     (16.5)     (17.0)     (13.9)     (14.6)     (13.3)     (13.6)     (13.4)     (13.6)     1%         (7%)       2%         (7%)

 Cross-border take rate (%)                                  0.67%      0.64%      0.59%      0.56%      0.53%      0.52%      0.52%      0.52%      0.51%      -1 bps     -2 bps     -          -
 Personal (%)                                                0.71%      0.68%      0.64%      0.62%      0.58%      0.57%      0.57%      0.57%      0.56%      -1 bps     -3 bps
 Business (%)                                                0.54%      0.51%      0.45%      0.42%      0.40%      0.39%      0.39%      0.40%      0.39%      -1 bps     -1 bps

 

Note: Differences between 'total' rows and the sum of the constituent
components of personal and business are due to rounding.

¹ Underlying income is an alternative performance measure comprising revenue,
first 1% of gross yield of interest income on customer balances, and any
interest expense on customer balances. It does not include interest income
above the first 1% gross yield or benefits paid on customer balances.

 

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