Revolut posts record results as Australia turns domestic

Revolut has reported record global results for 2025 and a second consecutive year of net profitability in Australia, with the figures pointing to stronger domestic use of its services locally.

Globally, profit before tax rose 57% to USD $2.3 billion, and revenue increased 46% to USD $6.0 billion. In Australia, revenue climbed 74% year on year to AUD $70.8 million, while net profit reached AUD $7.4 million and profit before tax came in at AUD $10.7 million.

The Australian results suggest a shift in how customers use the app. Domestic transactions now exceed international transactions, marking a move away from Revolut's earlier role as a travel spending tool and towards a broader consumer finance service.

Customer balances in Australia grew 89% over the year, while retail payment volumes rose 74%. Physical card payments increased 60% and virtual card payments rose 65%, indicating more frequent day-to-day use rather than occasional travel-related spending.

Revolut also reported strong customer growth in Australia. Its local customer base expanded 58% year on year, with more than 60% of new customers acquired through organic channels or referrals.

Business banking was another growth area. Monthly transaction volumes at Revolut Business in Australia rose 235% over the past 12 months following the launch of its merchant acquiring platform for in-person, account-to-account and online payments.

Global growth

Across the group, retail customers reached 68.3 million by year end, up 30% from 52.5 million a year earlier. Business customers increased 33% to 767,000, while total customer balances rose 66% to USD $67.5 billion.

Total transaction volume across the group increased 65% to USD $1.7 trillion. Revolut Business accounted for USD $365 billion of that total, with particularly strong expansion in markets including Australia, Singapore and the United States.

Several revenue lines contributed to the global increase. Subscription income rose 67% to USD $936 million, card payments revenue increased 45% to USD $1.3 billion, wealth revenue rose 31% to USD $876 million, foreign exchange revenue climbed 43% to USD $800 million, and interest income increased 23% to USD $1.3 billion.

Global net profit rose to USD $1.7 billion from USD $1.0 billion, while the profit-before-tax margin widened to 38% from 35%.

Australia focus

In Australia, Revolut linked part of its customer growth to changes in its local product set. During the year, it introduced PayID, BPAY and Confirmation of Payee, migrated local customers to a Revolut BSB, and expanded its rewards and business payments offerings.

Other local business lines also posted gains. Subscription revenue in Australia increased 98% year on year, wealth and crypto revenue rose 81%, foreign exchange revenue increased 59%, and unsecured credit balances grew 133%. Net interest income more than doubled to AUD $17.1 million.

Local staffing also rose as the business expanded, with headcount increasing 45% to 103 employees by the end of the year.

Matt Baxby, CEO of Revolut Australia, said, "2025 was a landmark year for Revolut in Australia. Delivering a net profit of AUD$7.4 million alongside a 74% increase in revenue proves that our strategy to scale profitably is working. But beyond the numbers, what I am most proud of is the fundamental shift in how Australians are using our platform. By launching market-first initiatives like RevPoints and expanding our Revolut Business offering with RevPay, we have successfully evolved from a travel essential to an everyday, domestic financial powerhouse."

Group-wide, Revolut now has 11 product lines generating more than GBP £100 million in annual revenue. It added that 90% of its assets were held in cash, cash equivalents and Treasury investments, while its lending portfolio grew 120% to USD $2.9 billion.

"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," Nik Storonsky, Co-Founder and CEO of Revolut, said.