Q4 FY2026 Trading Update

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. 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

[e-mail]

Sana Rahman - Communications

[e-mail]

Brunswick Group

Charles Pretzlik / Emily Murphy

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[phone]

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 Movement	Q YoY Movement	QoQ Movement Constant CCY	Q YoY Movement Constant 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 Movement	Q YoY Movement	QoQ Movement Constant CCY	Q YoY Movement Constant 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.

 

END