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Wise PLC shares fell on Thursday, even as it reported growth in cross-border volumes and active customers in a ‘strong start’ to its financial year. Wise, which is planning to move its primary listing to New York from London, was down 10% to 1,020.00 pence on Thursday morning, giving it a market capitalisation of £10.48 billion. The London-based money transfer services provider said underlying income rose 11% on-year to £362.0 million in the three months that ended June 30, Wise’s financial first quarter. At constant currency, it advanced 14%. Wise still expects financial 2026 constant currency underlying income growth in line with its medium-term guidance range of 15% to 20%. Wise said quarterly cross-border volumes surged 24% on-year to £41.2 billion, and active customers climbed 17% on a year prior to 9.8 million. The company said it remains focused on long-term growth. It continues to target an underlying pretax profit margin of 13% to 16% in the medium term. For financial 2025, it had reported an underlying pretax profit margin of 21%, when it already had the medium-term target of 13% to 16%. ‘We have had a strong start to our financial year, progressing on our journey to moving trillions with more people and businesses around the world using Wise,’ Chief Executive Officer Kristo Kaarmann said. ‘Last month we also announced our proposal to dual list our shares in the US and the UK, with the strategic and capital market benefits positively received by owners. We believe the addition of a primary US listing will help us accelerate our journey to becoming ’the’ network for the world’s money, and ensure our mission and the interests of our customers and owners remain deeply aligned over the long term.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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