28% cross-border volume
growth as Wise progresses towards moving
trillions
●
We are progressing on our vision
to become the network for the world's money, as quarterly
cross-border volumes grew 28% YoY to £39.1bn and Wise customer
holdings grew by 33% to £21.5bn
●
9.3m active customers used Wise in
Q4, representing active customer growth of 17%
YoY
●
The cross-border take rate reduced
by 3bps to 53bps, reflecting an increase in the proportion of
higher volume customers in the period
●
Underlying income was £350.4m in
Q4 FY25, growing 15% YoY on a constant currency basis, and 13% YoY
on a reported basis due to the previously flagged FX
headwind
●
For FY25, growth in active
customers, up 21% to 15.6m, combined with the greater adoption of
Wise account features, drove a 23% increase in cross-border volume
to £145.2bn1 and underlying income growth of 16% to
£1.36bn on a reported basis. On a constant currency basis,
underlying income grew 18% to £1.39bn for the
year
●
Our FY25 preliminary underlying
PBT margin was c.20% and for FY26, we continue to expect this to be
around the top of our 13-16% target range.
"We ended the financial year taking Wise to even more people
and businesses around the world. We launched Wise in Mexico,
allowing Mexicans to be able to send money to the rest of the world
with Wise. It's exciting that we now benefit from two-way flows
with Mexico. In Hong Kong, we rolled out the Wise Business account,
enabling businesses to get paid globally. And in Latin America, we
announced a new Wise Platform partnership with Itaú Unibanco, one
of the region's largest banks, enabling instant cross-border
payments directly from the Itaú app.
We
continue to move closer towards achieving money without borders by
investing in our long-term growth: we recently launched our popular
Interest feature in Australia, helping more customers earn returns
by placing their money in funds backed by government-guaranteed
assets. We also announced the opening of a new hub in Hyderabad to
drive growth in India, building on recent office expansions in
London, Tallinn and Singapore."
-Kristo Käärmann, Co-founder
and Chief Executive Officer
|
|
Q4 FY25
|
Q4 FY24
|
YoY
Movement
|
|
Cross-border volume (£
billion)
|
39.1
|
30.6
|
28%
|
|
Underlying income (£
million)
|
350.4
|
309.5
|
13%
|
|
Cross-border take rate (%)
|
0.53%
|
0.67%
|
-14
bps
|
|
Instant transfers (%)
|
65%
|
62%
|
+3
pps
|
You can read more about our progress
in our quarterly Mission Updates on wise.com.
Please see the appendix for further
historical financial information.
1 At our Owners Day earlier this month, we reported estimates
for FY25 active customers of 15.5m and a 22% increase in
cross-border volume to £145bn for the year.
Enquiries
Sarah Lewandowski - Investor
Relations
owners@wise.com
Sana Rahman -
Communications
press@wise.com
Brunswick Group
Charles Pretzlik / Nick
Beswick
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 worldʼs money. With
Wise Account and Wise Business, people and businesses can hold over
40 currencies, move money between countries and spend money abroad.
Large companies and banks use Wise technology too; an entirely new
network for the worldʼs money.
One of the world's fastest growing,
profitable tech companies, Wise launched in 2011 and is listed on
the London Stock Exchange under the ticker, WISE. In fiscal year
2024 Wise supported around 13 million people and businesses,
processing approximately £118 billion in cross-border transactions,
and saving customers over £1.8 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.
