Whalesbook
Profit Soars on Diversified Business
Revolut hit a milestone in 2025, marking its fifth straight year of profit with record results. Pre-tax profit jumped 57% to $2.3 billion, and revenue rose 46% to $6 billion. This strong performance stemmed from a diverse business model, with eleven product lines each bringing in over $100 million annually. Card payments and interest income were key drivers, each adding $1.3 billion, alongside solid contributions from subscriptions and wealth management. The company's pre-tax profit margin improved to 38%.
User Growth Outpaces Rivals
Customer numbers also grew sharply. Revolut added 16 million new retail users in 2025, reaching 68.3 million globally. Business accounts grew 33% to 767,000. Total customer balances rose 66% to $67.5 billion, while transaction volume jumped 65% to $1.7 trillion. These figures outpace many competitors. For comparison, Wise had 15.6 million active customers in FY2025, and Nubank reached 131 million customers with $16.3 billion in revenue that year. Revolut's 38% PBT margin also significantly tops Wise's 21% (FY25). The company's strong performance boosted its valuation to an implied $75 billion after a November 2025 share sale.
Expansion Risks and Crypto Volatility Cloud Outlook
However, Revolut's aggressive growth strategy faces significant risks. The company aims to become a "truly global bank," backed by a $13 billion investment over five years for international expansion. This requires navigating complex regulations, including pursuing a U.S. banking charter and applying for licenses in over 30 markets. The fintech sector is also facing heightened regulatory scrutiny, particularly around digital assets and operational stability in 2025. Revolut's focus on crypto services via Revolut X adds considerable volatility. Cryptocurrencies are inherently unstable and subject to unpredictable global regulations. This segment may boost revenue but exposes Revolut to market swings and compliance issues traditional banks often avoid. Rapid global scaling and new product launches also strain resources and demand careful risk management.