Wise shines in London, strong revenue growth and accelerates Nasdaq landing

(Il Sole 24 Ore Radiocor)- Wise is shining on the London Stock Exchange on the back of sharp growth in revenues for the 2025-26 financial year and as its Nasdaq landing, pscheduled for May 11, with the consequent adoption of US accounting standards, approaches. The stock of the British fintech specialising in money transfer services is trading at a good pace, the highest in the Stoxx Europe 600 index, taking its market capitalisation beyond the £10 billion mark. Wise said the volume of cross-border transactions in the quarter ending 31 March increased by 26 per cent year-on-year to £49.4 billion. At constant exchange rates, growth was 27%. The number of active customers in the quarter increased by 22% to 11.3 million. Underlying revenue grew by 24%, both at current and constant exchange rates, to GBP 435.3 million. Over the full year, the number of active customers increased 21% to 18.9 million, with cross-border volumes up 25% to GBP 181.7 billion. Underlying revenues increased 18% to 1.61 billion on a reported basis and 19% at constant exchange rates to 1.62 billion.

Wise continues to expect an underlying pre-tax profit margin at the high end of guidance of between 13% and 16% for the year compared to 21% in FY2025, 'including dual listing costs, as we remain focused on investing in long-term growth and becoming the world's money network', a statement noted. The company specified that it will henceforth report annual results in accordance with US Gaap and in US dollars, abandoning Ifrs and sterling as a result of the dual listing plan, announced on 5 June 2025 and approved in July last year by the shareholders' meeting. "We believe that the primary listing in the US will offer Wise and its shareholders numerous strategic and market advantages, including increased visibility in the US, which currently represents the largest potential market for our products, as well as improved access to the world's deepest and most liquid capital market," Wise explained. As part of the primary listing in the US, the company has filed a registration statement with the SEC, which has not yet been declared effective by the US Securities and Exchange Authority, the statement said. 'We remain on track to complete this dual listing by the end of the quarter, with the Nasdaq trading start date scheduled for 11 May,' Wise concluded.