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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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Cavendish
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-
Companies: Headlam Group plc
Edison
Companies: James Latham Plc
SP Angel
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
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Hardman & Co
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Companies: Severfield Plc
Liberum
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Companies: Ilika plc
Quadrise (QED LN) has provided an update on its Utah project with Valkor. Valkor’s partner (Heavy Sweet Oil LLC) has received funding and approval to commence drilling enabling production of 20-40bopd of heavy sweet oil providing QED with samples for production of test scale quantities of MSAR and bioMSAR; the company’s key fuel decarbonising emulsion fuel products. This should derisk the commercial scale ramp up. QED management has highlighted that Valkor has not yet raised the minimum of US$
Companies: Quadrise PLC
VSA Capital
22nd April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARV CTL AFRN FEN HUW TENG BBSN EAAS VAL
Hybridan
AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te
Companies: OKEA WDS GALP RHC RHC ENW EOG UJO TRIN I3E SCIR ZPHR SDX CRCL UOG TETY CEG IOX 0EVE CNE VAR TETY VLE GALP OKEA
Auctus Advisors
Companies: SigmaRoc Plc
Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k
Companies: Capital Limited
Tamesis Partners
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