Revolut posts USD $2.3b profit, 99% NZ revenue growth

Revolut reported record annual profit before tax of USD $2.3 billion as revenue rose to USD $6.0 billion, marking the fintech group's fifth consecutive year of net profitability.

Profit before tax increased 57% from the previous year, while net profit climbed 65% to USD $1.7 billion. Revenue rose 46% from USD $4.0 billion, with growth across subscriptions, card payments, wealth, foreign exchange and interest income.

Customer balances reached USD $67.5 billion, up 66%, while total transaction volume increased 65% to USD $1.7 trillion. Revolut's retail customer base grew 30% to 68.3 million, and its business customer count rose 33% to 767,000.

In New Zealand, Revolut disclosed faster growth across several business lines. Revenue in the market rose 99% year on year, card payments increased 115%, subscriptions revenue grew 344%, and wealth revenue doubled.

Transaction volumes in New Zealand rose 130%, paid plan adoption increased 73%, and total customer balances grew 186%. Subscriptions now account for 15% of total revenue in the market.

Diversified revenue

Group subscription revenue rose 67% to USD $936 million, while card payments revenue increased 45% to USD $1.3 billion. Wealth revenue grew 31% to USD $876 million, and foreign exchange revenue rose 43% to USD $800 million.

Interest income reached USD $1.3 billion, up 23%, supported by growth in the lending book and larger customer balances. Revolut's total credit portfolio increased 120% year on year to USD $2.9 billion, mainly in unsecured personal loans, credit cards and a small mortgages portfolio.

Eleven product lines each generated more than about USD $135 million in annual revenue. Revolut Business accounted for 16% of total income and contributed USD $365 billion in transaction volume during the year.

Customer activity

Revolut added 16 million retail customers over the year. The number of transactions per customer increased 24% from the previous year, indicating more frequent use of its services by both consumers and businesses.

Paid plan adoption across the group increased 42% year on year. The RevPoints loyalty programme now has 17 million users across 36 markets, up from 6.6 million at the end of the previous year.

Sales, advertising and marketing spending totalled USD $870 million. More than 63% of new retail customers joined through word of mouth or referrals.

Banking push

The results come as Revolut continues to expand its banking footprint. It now operates as a licensed bank in more than 30 of its 40 markets, including the UK and Mexico.

It is also progressing towards a goal of operating in 100 markets. In the UK, Revolut has moved beyond mobilisation, allowing it to provide banking services to its 13 million customers there.

Nik Storonsky, Co-Founder and Chief Executive Officer of Revolut, said: "2025 was another landmark year. We have built a diversified, resilient business that is profitable at scale, providing the foundation for our next phase of growth. As we transition into a truly global bank, we are proving that our technology-driven operating model continues to drive rapid expansion and record profitability. A decade into this journey, we have only just begun to show what is possible."

Revolut also pointed to product launches in investing, mortgages, mobile services and fraud prevention during the year. It said artificial intelligence tools used in its customer protection systems led to a tenfold increase in the volume of potential fraud cases reviewed each day.

"Our 2025 results further demonstrate the strength of our diversified model, as we continue to deliver rapid expansion alongside increasing profitability. Our 38% profit before tax margin is a result of disciplined financial steering and our ability to scale efficiently while continuing to invest in our people and infrastructure. With 11 different product lines now exceeding £100 million in annual revenue, our multi-engine platform provides the structural resilience to navigate any environment. We enter our second decade from a position of strength, uniquely placed to continue incubating the new bets that will redefine banking," said Victor Stinga, Chief Financial Officer of Revolut.