FreePik, Wise Perspective on Key Events Perspective on Key Events
Image Credit: FreePik, Wise
Joel Van Arsdale and Pedro Giesta • 29 June, 2023

Infographic: Wise FY 2023 Performance Assessment

General Commentary & Highlights:

  • Wise’s stock price surged c.20% to £641.40 on 28th June, fueled by its FY23 results that included surprisingly high growth. Wise stock is up more than 100% since its all-time low one year ago
  • The customer base grew 34% YoY (66% of which joined through word-of-mouth), while volume grew at 37%; strong customer and volume growth across both consumer and business segments
  • Transaction speed improvement via instant payment capabilities launched to and from Brazil, Singapore to Malaysia; and via new partner integrations in countries like Japan and the U.S.
  • Impressive 51% YoY revenue growth powered by volume growth, margin expansion, and acceleration of interest income in a rising rate environment
  • Strong growth across global regions, but particularly strong in APAC and ROW
  • Growth propelled in part by Wise Platform (i.e., embedded partners) expansion, 60 new partners
  • Adjusted EBITDA increased by ~100% YoY, and the net income margin surged by 3x as Wise Account features drove the increase in profitability from the higher interest rate environment

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Please do not hesitate to contact Joel Van Arsdale or Pedro Giesta with comments or questions.