Shares of Wise fell more than 10% on Thursday after the money transfer company forecast slower annual revenue growth.
The British company’s shares were down 11% at 5:30pm BST, having previously plunged more than 20% on Thursday following the release of full-year results.
Wise reported underlying income growth of 31% for the year ended March 31. However, the company expects growth of 15 to 20% in 2025, which is below market expectations.
The share price decline came despite a 29% increase in Wise’s active customer base to 12.8 million. Profit before tax more than tripled to £481m on sales of more than £1bn, up 24% on the previous year.
Kristo Käärmann, CEO of Wise, says: “We are investing in infrastructure and customer experiences to serve as much of this huge, underserved cross-border payments market as possible, including from FY25 by further reducing fees for our customers.”