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Wise PLC on Tuesday said it expects financial 2026 underlying pretax profit margin to be ‘towards the top’ of guidance after a strong third quarter. In response, shares in the London-based money transfer services provider leapt 13% to 944.00 pence each in London on Tuesday morning. Wise said cross-border volumes grew by 25% to £47.4 billion in the three months that ended December 31, or 26% on a constant currency basis, with 10.9 million active customers using Wise, up 20%. Underlying income was £424.4 million in the third quarter, up 21% on a reported basis and at constant currency. Year-to-date underlying income is 17% higher. For the full financial year ending on March 31, Wise expects underlying income to be around the middle of its guided range of 15% and 20% growth. It now expects underlying pretax profit margin for financial 2026 to be ‘towards the top’ of the guided 13% to 16% target range, including costs related to its planned dual listing in New York. In the financial year that ended March 31, 2025, Wise reported underlying income of £1.36 billion and underlying pretax profit margin of 21%. Margins have fallen reflecting planned investments in infrastructure and pricing over the financial year. Wise said customer holdings grew 34% to £27.5 billion in the quarter, with card and other revenue increasing 30% year-on-year. Wise Business active customers rose 25% on-year to 542,000 as volumes grew 37%. ‘Our financial performance in Q3 and throughout FY26 has been strong and we remain on track to meet our guidance,’ said Chief Executive Officer Kristo Kaarmann. Wise said that it expects to complete its dual listing in the US in the first half of 2026 which will ‘further increase’ its profile in the US. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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