Following its first annual earnings release as a US-traded company, Wise has released a trading update on its financial performance for Q1 2027 (spanning calendar Q2 2026). The cross-border transfer provider saw net revenue rise by 25% to $714m, backed by a 26% YoY rise in cross-border volumes to $69bn and active customers increasing by 21% to 11.9 million.
Wise’s cross-border revenue rose 22% YoY to $350m, though the company continues to see faster growth in its card and other revenue segment, which grew 38% overall to $191m on the back of strong business card spending in North America, as well as rising personal card adoption in the US and APAC.
On the cross-border side, Wise saw another reduction to its average take rate, from 52 bps in Q1 2026 to 50 bps in Q1 2027, the lowest this rate has ever been on the platform. Though this contributed to lower cross-border revenue growth (22%) versus volume growth (26%), Wise says it expects to reduce pricing by a further one to two basis points in coming quarters as it invests in creating a “competitive advantage” of lower prices for customers. It also increased the share of transfers completed instantly to 77% during the quarter, up from 70% the year before.
Overall, transaction revenue rose 27% to $541m, while the company saw interest income rise by 15% YoY to $225m. Wise continues to see customers holding more in its Wise Account product, with balances held rising 24% YoY to $31bn, though central bank decisions around interest rates meant that this didn’t fully translate into interest income growth.
Nevertheless, gains in Wise’s wider financial suite mean that while cross-border is Wise’s largest revenue driver, 51% of its revenues now stem from non-cross-border activities, highlighting how the company’s mix has shifted as it diversifies.
While Wise sees the majority of the cross-border flows from Personal customers, its Business segment is growing much faster. Wise’s Personal volumes grew by 21% to $48bn, driven by 21% growth in active Personal customers to 11.2 million, while Business volumes rose by 39% to $21bn, with active Business customers rising by 28% to 608,000.
This means that while businesses account for just 5% of Wise’s overall customers, they now account for 31% of its cross-border volumes, up from 28% a year ago. In an earnings call, Wise CFO Emmanuel Thomassin linked business strength to a dedicated service team for businesses, proactively helping SMEs to adopt additional Wise products.
Wise also disclosed that around 6% of its total cross-border volume is now coming through Wise Platform, its global payments infrastructure product for financial institutions and enterprises. Thomassin said that the company remains “extremely bullish” on the platform, through which Wise is able to indirectly unlock volumes through its partners. He also mentioned the benefits of direct integrations with country’s fast payment systems (e.g. Japan and Brazil), which are helping the company avoid working with partner banks to provide liquidity faster.
On the back of its results, the company has reiterated its guidance for constant currency net revenue growth, saying it expects net revenue growth around the middle of its 15-20% medium-term target range (on a constant currency basis), though this assumes no material change in interest paid to customers or central bank rates. It also expects its margin for income before tax – the company’s recently introduced profitability metric – to be around the top of its 20-25% range.
