Wise Q1 Financial Performance Report: 21% Customer Growth and 25% Revenue Surge

Wise plc delivered a robust Q1 performance with a 21% increase in active customers and a 25% rise in net revenue, underscoring its dominance in global financial services. The company reached nearly 12 million active customers and $69 billion in cross-border volume, while customer balances climbed 31% to $31 billion. CFO Emmanuel Thomassin attributed this growth to customers leveraging the platform for both cross-border transactions and everyday financial needs.

Cross-Border Volume Surge and Platform Momentum

■Active customers grew 21% year-over-year to nearly 12 million.

■Cross-border volume hit $69 billion with a 26% annual increase.

■Wise Business segment drove 39% growth in cross-border volume.

■Customer holdings reached $31 billion, including $10 billion via Wise Assets.

Digital Transformation in Revenue Streams

■Card and other revenue rose 38% to $191 million, fueled by business card spending in North America and personal card adoption in the U.S. and Asia-Pacific.

■Total transaction revenue totaled $541 million, marking 27% year-over-year growth.

■Interest income increased 15% to $225 million, though gross yield declined to 2.9% from 3.3% due to central bank decisions.

Strategic Pricing and Margin Outlook

■Full-year guidance was reaffirmed, targeting constant-currency net revenue growth in the 15%-20% range and margins near the high end of 20%-25%.

■Management highlighted that pricing investments will impact results later in the year but remain central to long-term strategy.

Wise's financial diversification strategy, particularly in card and digital services, enhances platform expansion beyond traditional currency exchange revenues. However, declining gross yields due to central bank policies may limit the full translation of balance growth into interest income.