Money transfer firm Wise raises revenue growth outlook as cross-border volumes jump
WSE•Wise expects fiscal 2027 net revenue growth near the upper end of its 15% to 20% target range after second-quarter net revenue rose 21% to $739.1 million. Cross-border payment volumes increased 22% to $71.7 billion.
1. Outlook raised
Wise said it expects fiscal 2027 net revenue growth near the upper end of its 15% to 20% target range and maintained its income-before-tax margin outlook. Active customers rose 20% to 12.5 million.
2. Volumes and costs
The cross-border take rate fell to 0.49% from 0.52% a year earlier as Wise cut prices to attract customers. A JPMorgan analyst said the upgrade was partly offset by $30 million in one-off costs, limiting the scope for earnings estimate upgrades.
3. US banking setback
Wise’s US growth ambitions suffered a setback in July after regulators denied its application to create a national trust bank; the company intends to reapply. Its London-listed shares fell 1.9% by 1140 GMT.
