$WSE · Wise Group plc
Wise Group plc filed its H1 FY27 results (six months ended September 30, 2026) via Form 6-K. Net revenue rose 23% YoY to $1,453.1M (22% constant currency), with active customers up 21% to 16.2M and cross-border volume up 24% to $141.0B. Net income increased 6% to $249.2M and income before tax rose 9% to $334.9M at a 23% margin, while total operating expenses grew 28%.
- Net revenue +23% YoY to $1,453.1M; 22% on constant currency.
- Active customers +21% to 16.2M; cross-border volume +24% to $141.0B.
- Net income +6% to $249.2M; income before tax +9% to $334.9M.
- Total operating expenses +28%, outpacing revenue growth.
- New $500M+ share repurchase program started July 2026; ~50% already purchased.
Shares fell 1.97% to $10.93 in the regular session, suggesting investors weighed strong revenue growth against margin compression from a 28% jump in operating expenses.
Wise delivered strong top-line growth and raised FY27 revenue guidance, but accelerating expense growth squeezed net income growth to just 6%.
Wise's 23% revenue growth and 21% customer growth outpace most incumbent cross-border payments peers, but rising tech, servicing, and G&A spend shows the cost of scaling and US-listing compliance.
Operating expenses grew 28% YoY, faster than revenue, compressing profitability; net income rose only 6%. Cross-border take rate declined 2 bps to 0.50% as Wise reinvests operating leverage into lower prices.