Jun. 26 at 7:45 AM
$WSE reported first earnings since
$NSDQ100 listing yesterday.
For FY26, the company beat both their revenue growth targets and margin targets.
Another important announcement was that the company has approved
$500 million of share repurchases.
Buybacks are not new to Wise. They have been doing it for years. But it was limited to repurchasing shares issued from stock-based compensation (SBC).
Wise is unique in that it gives shares to all its employees, not only senior management. 5% of the company is owned by employees. This dilutes owners over time. Initially, the company was buying back shares to counter the annual SBC. Last year, they decided to repurchase all shares issued for SBC historically. And with this new program, they are now going beyond SBC.
This repurchase also indicates that the company is confident about the latest news report on the Belgium investigation. You don't announce a big buyback if you need to pay big fines.
