Shares in Wise jumped on Thursday after the global payments firm posted significant growth in customers and income.
The figures, released by the London-listed fintech ahead of a capital markets day event set for Thursday afternoon, revealed active customers rose by more than a fifth, reaching 15.5 million by the end of March.
Wise also reported 22% growth in cross border volumes to £145bn and a 16% surge in underlying income to £1.36bn. The fintech warned its profit margin has fallen by 1%.
The company announced it would expand its programme of share purchases into its employee benefit trust by acquiring historical stock-based compensation (SBC) grants.
Wise is also looking at its public listing, which was automatically transferred to the equity shares transition category following reforms to the UK listing regime from the Financial Conduct Authority (FCA) last July.
The regulator attempted to simplify UK listings into a single category instead of a standard and premium segment. Companies like Wise with an existing listing were automatically transferred to the transitional category and must meet the FCA’s requirements to be given the status of an equity shares commercial companies category.
The board has been consulting with shareholders for the “optimal listing arrangements” and expects the review to conclude in the coming weeks.
Wise’s capital markets day is set to take place on Thursday at 14:30 and will provide an update for investors and analysts on the company’s progress for the medium term.
The company is expected to provide details on a modified financial model with hopes of targeting an income growth of 15-20% over the next year.
Wise said its full-year results will be released on 5 June.
Shares in Wise rose 2% this morning, currently priced at £10.06.
Read more: Britain’s biggest cross-border payment firms
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