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Wise experiences a noteworthy growth in active customers, with a 30% YoY increase to 7.5mn, consistent with our projections, in the quarter ended 31 December 2023 (9M24). Active personal customers surged by 30%YoY to 7.1mn, while business customers saw a 23% YoY growth to 392k. The robust financial performance of Wise was largely driven by the rising adoption of multi-feature usage by both personal and business customers. Approximately 46% of personal customers and 60% of business customers no
Companies: WTC WWG WISE 002253 WIHN WIST WISE 065370 273060 9918 IBS WISE 5245 8932 2481
Hypothesis Research
Wise’s customer base went up by 32% YoY to 7.2mn of active customers in 6M ended 30 September 2023 (1H24), with over 67% of new customers joining through word-of-mouth. The revenue growth reached 25% YoY and adj EBITDA was up 163% YoY for the period. Wise reports £57.4bn in volumes, up 12% YoY in 1H24. Over the last 6M, Wise launched new products in Europe; launched a service for expats in China to send money home; removed charges for holding balances in Australia (Wise is the only non-banking
Companies: WTC WWG WISE 002253 WIHN WIST WISE 065370 273060 9918 2839 IBS WISE 5245 8932 2481
Wise reports strong FY23 results. Wise increased revenue by 51% YoY to £846mn in FY23, some 2.5% below our expectations. A high volume of interest income on customer balances of £136.5mn (net) helped the company to boost gross margin, which increased by 73% YoY to £638.2mn despite a 66% Cost of sales growth. Gross profit was 9.8% above our expectations due to a high interest income on customer balances. Wise benefited from a strong active customer number growth to 10mn (+34% YoY) and increased
Companies: WTC WWG WISE WIHN 002253 WISE WIST WISE 065370 273060 9918 IBS 5245 8932 2839
We initiate coverage of Wise, a financial infrastructure platform for money transfers. The company is disrupting a large and underserved market of cross-border transfers with traditionally high costs of foreign currency exchange for customers implied by traditional banks. The volume of the international transfers market is estimated at £22.2trln in 2021, to be growing with c 4.3% CAGR between 2021 and 2028. The company, according to our estimates, controls c 3.5% of the market. The growing num
Companies: WTC WWG WISE WIHN 002253 WISE WIST WISE 065370 273060 9918 5245 2839
Research Tree provides access to ongoing research coverage, media content and regulatory news on Wise Group AB. We currently have 60 research reports from 2 professional analysts.
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