Wisr Delivers EBITDA Profitability
Released
Released
Announcement PDF
ASX RELEASE
Wisr delivers EBITDA1 profitability
Successfully executing growth strategy with an increase in loan originations, stronger
margins and lower losses
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Sydney, 26 February 2025 - Wisr Limited (ASX: WZR) (“Wisr”, or the “Company”) is pleased to
announce its H1FY25 results.
In H1FY25, Wisr has increased loan originations by 66% across its secured vehicle and personal
loan products, against a backdrop of strong increases in non-bank lender market share. The
Company has delivered EBITDA1 of $0.8M (H1FY24: $0.2M), driven by continued NIM2 expansion
from front book repricing initiatives and improved funding margins, while also delivering lower
losses.
The Company reaffirms its guidance of 75%+ loan origination growth in FY25.
Lending
●
Loan originations of $170.8M, a 66% increase on
H1FY24 ($103.1M)
●
Secured vehicle loan originations of $62.1M, an
increase of 143% on H1FY24 ($25.6M) and personal
loan originations of $108.7M, an increase of 40% on
H1FY24 ($77.5M)
●
Closing loan book of $757M, a slight decrease on
Jun-24 ($770M), as the Company pivoted back to
loan origination growth in Q4FY24 after a period of
moderated loan volumes. We were pleased to report
that the loan book returned to growth in Q2FY25
1 EBITDA defined as earnings before Interest, taxes, depreciation and amortisation. This also excludes corporate facility interest cost, hedge accounting impacts,
share based payments expense and non-cash expected credit loss provision movements.
2 Net Interest Margin (“NIM”) defined as loan book yield less finance costs, excluding corporate facility interest cost and hedge accounting impacts.
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Wisr Limited ACN 004 661 205 | Level 9, 333 Kent Street, Sydney, NSW, 2000 | wisr.com.au
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●
Loan book average credit score remained stable at
798 (Dec-23: 794)
●
90+ day arrears stable at 1.55% (Jun-24: 1.58%), and
remains well-within risk appetite
●
Net losses decreased by 61 bps to 1.87% (H2FY24:
2.48%)
Financial
●
Portfolio yield and NIM2 increased, driven by front book repricing initiatives and improved
funding margins. Portfolio yield increased to 11.20% (H2FY24: 10.90%) and NIM2 increased
to 5.75% (H2FY24: 5.19%)
●
Revenue decreased to $45.3M (H1FY24: $48.1M), driven by a lower loan balance during the
period, partially offset by a higher portfolio yield. As noted above, the Company pivoted back
to loan origination growth in Q4FY24 and returned to loan book growth in Q2FY25
●
EBITDA1 of $0.8M, a $0.6M improvement on H1FY24 ($0.2M) driven by stronger loan unit
economics and a reduction in net losses, which helped offset the impact of lower revenues
during the period
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Wisr Limited ACN 004 661 205 | Level 9, 333 Kent Street, Sydney, NSW, 2000 | wisr.com.au
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Operations
●
Automation-driven improvements to loan approvals and credit decisioning processes. 78%
of loans automatically approved by an AI powered decision engine, and a 134% increase in
automated loan verification steps in H1FY25
●
Launched a platform to support arrears management and improve losses performance
●
In Feb-25, the Company welcomed Álvaro Carpio Colón to the position of Chief Innovation
Officer
Capital
●
Unrestricted cash of $17.9M (Dec-23: $19.9M)
●
Two warehouse facilities are in place to support originations with a total commitment value
of $650M and an undrawn capacity of $153M, providing significant growth capacity
●
$15M remains available from the corporate facility to fund the Company’s ongoing growth
plans
Customer
●
Customer Net Promoter Score +75 (H1FY25)
●
Winner of Good Design Award for ‘Liger’, Wisr’s native lending platform which helps
streamline loan processing and champion responsible lending by placing customers’ needs
at the forefront of every decision
●
Wisr has facilitated the payment of $39.4M in extra loan repayments and $10.1M in
round-ups on customer debt (since inception)
Leadership Commentary
Mr Andrew Goodwin, Wisr’s Chief Executive Officer, said, “In the first half of FY25, Wisr continued
to execute its growth strategy, evidenced by strong loan origination growth across our secured
vehicle and personal loan products. This has also led to EBITDA1 profitability driven by increasing
NIM2 and improved losses, as well as a return to loan book growth (in Q2FY25).
“Wisr continues to benefit from structural tailwinds which include the increase in personal loan
market share of non-bank lenders. At the same time, the Company has been focused on delivering
efficiencies and growth through technology-driven automation which will see Wisr well-placed to
continue scaling efficiently.
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Wisr Limited ACN 004 661 205 | Level 9, 333 Kent Street, Sydney, NSW, 2000 | wisr.com.au
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“As we look ahead to the remainder of FY25, we remain focused on loan origination and book
growth while continuing to support Australians in making smarter financial decisions via our
award-winning platform,” concluded Mr Goodwin.
Wisr Chief Executive Officer Mr Andrew Goodwin discusses Wisrʼs H1FY25 results in a video
interview here: https://investorhub.wisr.com.au/link/aP3NBr
Investors
The Wisr Investor Hub is a dedicated platform for investors to learn more about Wisr and contains
Wisr’s Annual Reports, announcements, share price data as well as other updates. Sign up here.
-endsThis announcement has been approved for release by the Board of Directors.
For further investor enquiries, please contact:
Andrew Palfreyman
Company Secretary
E: investor@wisr.com.au
About Wisr Limited
Wisr (ASX: WZR) is a purpose-built Australian fintech lender. The proprietary Wisr platform combines digital
lending along with financial tools and features to help Australians pay down debt, access credit, better
understand their financial standing and make smarter money decisions. For more information, visit
www.wisr.com.au
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Scan to join Wisr’s Investor Hub
Wisr Limited ACN 004 661 205 | Level 9, 333 Kent Street, Sydney, NSW, 2000 | wisr.com.au
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