Wise shares jump after the company upgrades forecasts
Shares in global fintech Wise jumped six per cent in early deals this morning after the firm posted preliminary figures for its current financial year on Thursday ahead of its capital markets day.
The event’s presentation will also include updates on the current financial year, for which the full results will be posted on June 5.
Wise, which aims to move consumers’ and business’ money easily across the world, said it expects to post 21 per cent growth in active customers to 15m and a 16 per cent boost to underlying income.
On the back of these numbers, the fintech said it could generate income of £1.4bn in the current year.
However, it said it expected its profit margin to fall by one per cent.
The money transfer firm said it expects to deliver underlying income growth of 15 to 20 per cent in the 2026 financial year, with pre-tax profit margins meeting top estimates.
Wise also announced plans to dilute its share purchase program for Employee Benefit Trust to ensure no shareholder dilution from historical stock-based compensation (SBC) grants, which represent around 25m shares.
The fintech reiterated its listing change following the Financial Conduct Authority’s reforms to the UK listing regime in 2024.
Wise’s listing moved to the Equity Shares Category in July 2024.
Wise listed on the London Stock Exchange on July 7, 2021, and in its 14-year history has moved over £0.5tn across borders.
In a quarterly trading update in January, it revealed that cross border volumes had soared 24 per cent to £37.8bn. Increased adoption of the firm’s accounts also drove a 39 per cent in card and other revenue.
The company’s Capital Markets event will be hosted at its new headquarters in Worship Square, London as well as streamed on Wise’s website.