Wise Group reported a 23% rise in net revenue to $1,453.1 million for the six months to 30 September 2026, as more than 16 million customers used its cross-border payments service. The company, listed in London and on Nasdaq, published the half-year results on Friday 13 November, and said it now expects full-year revenue growth in the upper half of its medium-term target range.

Active customers rose 21% to 16.2 million, including 4.1 million new customers during the half. Cross-border volume climbed 24% to $141.0 billion, up from $113.9 billion a year earlier, with Wise saying growth was led by the United States and Asia Pacific. Customers also spent $27 billion on Wise cards, up 33% on a year earlier, while customer holdings rose 28% to $43.5 billion.

Co-founder and chief executive Kristo Käärmann said: “More than 16 million people and businesses used Wise in the past six months. These customers moved $141 billion across borders, up 24% year on year. Customers also used Wise for more, spending $27 billion on Wise cards and increasing holdings by 28% to $44 billion, including $11 billion held in Wise Assets.”

Profit growth lags revenue as spending rises

Income before tax rose 9% to $334.9 million, giving a margin of 23%, against about 26% a year earlier. Net income increased 6% to $249.2 million. The slower profit growth reflects heavy spending: total operating expenses rose 28% to $1,150.3 million. Technology and development spending increased 51% to $292.2 million, servicing costs rose 40% to $250.6 million, marketing and sales rose 46% to $111.7 million, and general and administrative costs rose 41% to $256.7 million, including about $15 million of expenses linked to the US listing.

Transaction revenue increased 25% to $1.1 billion. Cross-border revenue rose 19% to $705.0 million, card revenue jumped 43% to $252.0 million, and interest income on customer balances rose 16% to $463.6 million. Wise also trimmed the fee it keeps on each transfer: its cross-border take rate fell by 2 basis points to 0.50%, as it reinvested part of its operating leverage in lower prices for customers.

Lower fees and faster transfers

Wise said 78% of transfers are now instant, and customers paid an average fee of only 50 basis points to move money around the world in the period. The company added its ninth direct connection, in Malaysia, reducing its reliance on intermediaries, and launched its international money transfer service in Chile, the Wise Account and Wise Card in Thailand, and a chequing account in Canada.

Banks are also adopting Wise's infrastructure. The company said its Wise Platform has announced new partnerships in the UK and Europe with OakNorth and Vivid, and has partnered with two of the 20 largest banks in North America, while it continues to expand the services it provides to Morgan Stanley.

Outlook and shares

For the full year, Wise expects net revenue growth of 17.5% to 20% on a constant currency basis, the upper half of its 15% to 20% medium-term target range, and an income before tax margin around the top of its 20% to 25% range. The company also said it began a share repurchase programme in July 2026, expected to exceed $500 million, and has so far bought back almost 50% of the expected total amount.

Wise shares traded at 870.2p at about 08:48 on Friday, up 4.77% on Thursday's close of 830.6p, according to AskTraders, with the results landing before the London open. Wise dual-listed in May 2026 across Nasdaq and the London Stock Exchange.

Wise also disclosed that Wise Europe, its Belgian subsidiary, has been engaging with the Brussels prosecutor's office in response to queries about its business, and that an agreement has now been reached to fully resolve and settle the matter, with no admission of wrongdoing.