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![granaresearch Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1565358489018552323.png) Grana Research [@granaresearch](/creator/twitter/granaresearch) on x XXX followers
Created: 2025-07-17 14:54:20 UTC

I'm happy to share my updated $WISE model following the Q1 trading update — with anyone who follows this account and reposts this post.

Once you’ve done that — feel free to DM.

A few thoughts on the $WISE $WISE.L update:

At first glance, the numbers looked soft — revenue and underlying income came in below expectations.
But once I ran the update through my model, it became clear the market overreacted.
Shares dropped ~10% early in the session, then recovered to -XXX% by the close.
Most likely, other investors just needed time to rework their models too.

Why the results aren't bad at all:

▪️Active customers in both Personal and Business segments were in line

▪️Volume per customer: slightly below in Personal, above expectations in Business

▪️Customer balances: in line in Personal, ahead in Business

So why did the stock sell off?

The key reason: a lower-than-expected take rate in the Personal segment. But this is part of the plan. Wise has always played the long game — intentionally lowering take rates to scale faster.
It's their scorched earth strategy — and it's working.

![](https://pbs.twimg.com/media/GwEUqqcXAAARxRb.png)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945859619500290176/c:line.svg)

**Related Topics**
[$wisel](/topic/$wisel)
[$wise](/topic/$wise)
[coins defi](/topic/coins-defi)

[Post Link](https://x.com/granaresearch/status/1945859619500290176)