Wise Group Updating Estimates to US GAAP and USD Reporting

Goldman Sachs updates its financial model for Wise Group to reflect its relocation to a US primary listing and adoption of US GAAP. The firm maintains its Buy rating with a $19.00 price target for the new US listing (WSE).

Key Takeaways

• 1.Wise relocated its primary share listing to the US on May 11, 2026, shifting its reporting standard from IFRS to US GAAP and its currency to USD.
• 2.The mid-term net revenue growth target remains at 15%-20% on a constant currency basis under the new reporting structure.
• 3.Goldman Sachs maintains a Buy rating (Conviction List) with a 12-month price target of $19.00 for the US listing (WSE) and 1,400p for the UK listing (WISEa.L).

Table of Contents

• Updates to Wise's reporting structure
• Thesis
• Key Data
• GS Forecast
• GS Factor Profile
• Ratios & Valuation
• Growth & Margins (%)
• Price Performance
• Income Statement ($ mn)
• Balance Sheet ($ mn)
• Cash Flow ($ mn)
• Summary financials on a US GAAP and USD basis
• Old vs. new
• Valuation
• Disclosure Appendix

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