**Summary of Wise PLCs Half-Year Results for FY26 (Ended 30 September 2025)**
Wise PLC reported strong financial performance for the first half of FY26, driven by strategic investments in infrastructure, product innovation, and partnerships to capture a larger share of the £32 trillion cross-border payments market. Key highlights include
### **Financial Performance**
**Revenue Growth**Revenue increased by 11% to £658.0 million (H1 FY25: £591.9 million).
**Active Customers**Active customers grew by 18% to 13.4 million, with cross-border volume up 24% to £84.9 billion.
**Customer Holdings**Customer holdings rose 37% to £25.3 billion, including £5 billion in the Wise Assets feature.
**Underlying Profit Before Tax (PBT)**Underlying PBT was £122.0 million, with a margin of 16.3%, reflecting continued investment in growth.
**Reported Profit Before Tax**Reported PBT was £254.6 million, down 13% due to strategic investments and lower interest yields.
### **Operational Highlights**
**Infrastructure Expansion**Wise became a direct participant in 7 domestic payment systems, including Pix (Brazil) and Zengin (Japan), with 74% of transfers completed instantly.
**Regulatory Approvals**Secured approvals in the UAE to expand product offerings in the region.
**Product Enhancements**Launched Travel Hub for travelers, accounts for under-18s, and Wise Assets in Brazil.
**Partnerships**Announced new Wise Platform partnerships with Upwork, MBSB Bank, and Lunar, contributing to 5% of total cross-border volume.
### **Strategic Investments**
**Team Growth**: Added over 1000 employeesfocusing on servicingcomplianceand AI-driven efficiencies.
**Marketing**Increased brand marketing spend across key markets to drive awareness and organic growth.
**Technology**Invested £144 million in product development, enhancing core products and launching new features.
### **Future Outlook**
**Dual Listing**On track for a US listing in Q2 2026 to increase visibility and access to capital.
**Growth Targets**Reiterated guidance for 15-20% underlying income growth and a 16% PBT margin for FY26, excluding dual-listing costs.
**Innovation**Exploring stablecoins and digital assets while ensuring regulatory compliance and financial crime prevention.
### **Management Commentary**
CEO Kristo Käärmann emphasized Wise’s focus on long-term growth, infrastructure improvements, and product innovation to achieve its vision of becoming the global network for cross-border payments. CFO Emmanuel Thomassin highlighted disciplined capital allocation and sustainable growth, with investments balanced against profitability.
### **Conclusion**
Wise PLC continues to strengthen its position in the cross-border payments market through strategic investments, regulatory advancements, and product enhancements. Despite short-term margin pressures, the company remains focused on long-term growth and profitability, supported by a robust financial framework and expanding global footprint.
| Metric | H1 FY2025 (£m) | H1 FY2026 (£m) | YoY Change (£m) | YoY Change (%) |
|---|---|---|---|---|
| Revenue | 591.9 | 658.0 | 66.1 | 11% |
| Underlying Interest Income (first 1% yield) | 70.5 | 91.5 | 21.0 | 30% |
| Underlying Income | 662.4 | 749.5 | 87.1 | 13% |
| Cost of Sales | (152.9) | (173.7) | (20.8) | 14% |
| Net Credit Losses on Financial Assets | (4.5) | (4.6) | (0.1) | 2% |
| Underlying Gross Profit | 505.0 | 571.2 | 66.2 | 13% |
| Administrative Expenses | (366.7) | (465.9) | (99.2) | 27% |
| Net Interest Income from Corporate Investments | 15.9 | 23.7 | 7.8 | 49% |
| Other Operating Income, Net | 2.3 | 3.8 | 1.5 | 65% |
| Underlying Operating Profit | 156.5 | 132.8 | (23.7) | (15%) |
| Finance Expense | (9.4) | (10.8) | (1.4) | 15% |
| Underlying Profit Before Tax | 147.1 | 122.0 | (25.1) | (17%) |
| Reported Profit Before Tax | 292.5 | 254.6 | (37.9) | (13%) |
| Profit for the Period | 217.3 | 187.2 | (30.1) | (14%) |
| Borrowings (Revolving Credit Facility) | 98.1 | 198.5 | 100.4 | 102% |