Wise experiences a 55% increase in profit as its market position grows.

• Wise reported a 55% increase in first-half profit to £217.3 million from £140.6 million in the previous year.
• Wise reported that its money transfer platform experienced a 19% increase in year-over-year revenues, reaching £591.9 million, on Wednesday.

In the first half of its 2025 fiscal year, the company experienced a 55% increase in profit due to growth in customers and increased market share.

The British digital payments company reported a £217.3 million first-half profit, an increase of £76.7 million from the previous year.

Wise reported a 25% increase in active customers, resulting in a total of 11.4 million consumer and business clients.

Wise reported that revenues at their money transfer platform increased by 19% year-on-year to £591.9 million.

This year, Wise issued a sales warning that caused shares of the U.K. online payments company to plummet by as much as 21%.

In June, Wise stated that it anticipated lower year-over-year income growth of 15-20% for fiscal 2025 compared to the 31% growth rate it achieved in the 12 months ending in March 2024.

The softer guidance came off the back of a series of price reductions.

In the second quarter of 2024, Wise experienced a 17% rise in underlying income compared to the previous period.

The company announced that it is on track to achieve a PBT margin of 13% to 16% in the medium term, as previously stated in June, and will not need to make any further significant investments in reduced pricing in the second half.

Wise announced on Wednesday that its PBT margin for the first-half period was 22%, exceeding its target range of 13% to 16%.

The firm stated that it plans to reduce its pricing margin to a level close to its target range for the second half of its 2025 fiscal year by investing in pricing reduction initiatives.

The CEO of Wise, a billionaire and co-founder, was fined £350,000 by the U.K.'s Financial Conduct Authority for not reporting an issue with his tax filings.