Revolut to Release 2023 Results Early

Hey FinTech Fanatic!

Revolut plans to publish its 2023 results in the upcoming days, ahead of the deadline, marking progress in its bid for a UK bank license after missing deadlines in previous years.

Revolut, is set to release its highly anticipated results, expected to reveal 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝗶𝗻 𝗯𝗼𝘁𝗵 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 𝗮𝗻𝗱 𝗻𝗲𝘁 𝗶𝗻𝗰𝗼𝗺𝗲, in the coming days, according to sources familiar with the matter.

Releasing these results ahead of the statutory deadline marks a significant achievement for Revolut, which has long been striving to secure a banking license from UK regulators—a move that would allow the company to broaden its services in its home market.

Organizing its financial accounts has been a key hurdle in this process. This will be the first time in several years that Revolut has not requested an extension to file its accounts.

In the previous year, the company required a three-month extension to publish its 2022 annual accounts, and its 2021 accounts were not made public until March 2023, well past the extended deadline.

Revolut in December said revenue for 2023 was on track to reach $2 billion and Chief Executive Officer Nik Storonsky told a conference in Dubai in May that net income for last year was $350 million.

That would all be an improvement from 2022, when Revolut generated revenue of $1.2 billion and notched $5.8 million in profit.

Remember when I asked you if you think Revolut is worth 40 billion, a week ago? The poll results are in, and it was a close call:

Cheers,

Marcel

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