The revenue beat and raised buyback program are positive, but the operating income decline from the cross-filed 20-F tempers enthusiasm. Watch the earnings call for clarity on investment vs. margin trajectory. The positive guidance may support the stock, but historical underperformance of preceding analyst calls warrants caution.
Price Chart
Executive Summary
Wise Group reported FY2026 net revenue of $2.5B (+19% YoY) and income before tax margin of 26% above guidance, driven by 21% active customer growth and 31% cross-border volume increase. However, the accompanying 20-F reveals a 19% decline in operating income due to investment spending. FY2027 guidance targets revenue growth around the middle of 15-20% and margin at the top of 20-25%.
Key Facts
- Net revenue of $2,502.8M, up 19% YoY from $2,098.9M
- Income before tax of $660.4M, margin 26% (above 20-25% target)
- Active customers reached 18.9M (+21% YoY)
- Cross-border volume $243.5B (+31% YoY)
- FY2027 guidance: net revenue growth around middle of 15-20% constant currency, income before tax margin around top of 20-25% range
- New share purchase program expected to exceed $500M
Financial Impact
Revenue growth of 19% is strong, but operating income declined 19% per the 20-F, creating mixed signals. Guidance implies continued margin discipline.
Risk Factors
- Operating income declined 19% in FY2026 due to increased investment, which may pressure near-term profitability
- Forward guidance assumes stable interest rates and no material change in customer interest paid, which may not hold
- Take rate continued to decline (52bps vs 58bps YoY), potentially limiting revenue per transaction
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-282767 |
| Document: d117224d6k.htm | 0001193125-26-282767 |
| Document: 0001193125-26-282767-index-headers.html | 0001193125-26-282767 |
| Document: 0001193125-26-282767-index.html | 0001193125-26-282767 |
| Document: 0001193125-26-282767.txt | 0001193125-26-282767 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $11.11 | awaiting T+5 | — | $10.84 (−2.43%) |
Oct 23, 2026 4d ago | 3 | $11.07 | awaiting T+5 | — | $10.84 (−2.08%) |
Oct 20, 2026 7d ago | 6-K | $11.01 $10.89 | ▼ −1.09% | ▼ −1.12% | $10.84 (−1.54%) |
Oct 19, 2026 8d ago | Insider Cluster | $11.01 $10.84 | ▼ −1.54% | ▼ −1.62% | $10.84 (−1.54%) |
Oct 15, 2026 12d ago | 6-K | $10.98 $11.08 | ▲ +0.91% | ▲ +0.82% | $10.84 (−1.28%) |
Oct 15, 2026 12d ago | Press Release | $10.98 $11.07 | ▲ +0.82% | ▲ +1.25% | $10.84 (−1.28%) |
Oct 13, 2026 14d ago | 6-K | $12.22 $11.01 | ▼ −9.90% | ▼ −8.75% | $10.84 (−11.29%) |
Oct 13, 2026 14d ago | 6-K | $12.22 $11.01 | ▼ −9.90% | ▼ −8.75% | $10.84 (−11.29%) |
Oct 6, 2026 21d ago | 6-K | $11.76 $12.22 | ▲ +3.91% | ▲ +4.05% | $10.84 (−7.82%) |
Sep 29, 2026 28d ago | 6-K | $11.38 $11.76 | ▲ +3.34% | ▲ +1.39% | $10.84 (−4.75%) |
US Market Status
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