WZR Q3FY25 Company Update Presentation
Released
Released
Announcement PDF
COMPANY UPDATE
Q3FY25
APRIL 2025
1
SET UP FOR SUSTAINABLE GROWTH
Disciplined loan
origination and
book growth
with improved
asset quality
and attractive
outlook
Structural tailwinds
creating business
opportunities
Investment
in automation
creating
efficiencies
Strong capital
and funding
supports
growth
outlook
Reflecting strong year-to-date performance, Wisr is upgrading its guidance to
90%+ loan origination growth in FY25 (up from 75%
2
KEY Q3FY25 RESULTS
LENDING
$111M
New loan originations
FINANCIAL
11.25%
Portfolio yield
CAPITAL
$22.4M
Revenue
Well capitalised with
unrestricted cash of
↑54 bps Q3FY24 10.71%
↓3% Q3FY24 $23.1M
$777M
5.60%
$10.7M
Wisr loan book
as at Mar-25
Portfolio NIM2
Portfolio NIM2
↓3.8% Mar-24 $808M
↑2.7% Dec-24 $757M
↑36 bps Q3FY24 5.24%
↓$0.1M Q3FY24 $10.8M
800
1.48%
1.99%
Average credit score of
total book1 as at Mar-25
On-balance sheet
90+ day arrears
↑6 Mar-24 794
↓23 bps Mar-24 1.71%
Net losses
$47.5M
$22.5M
additional loan
repayments3 made
via one-time payment
feature
$15.0M
$10.6M
Available to draw from
corporate facility to
fund future growth
in round ups3 used to
pay off customer debt
$98.6M
74
↑115% Q3FY24 $51.6M
↑19% Q2FY25 $93.5M
CUSTOMER
Undrawn
warehouse capacity
Customer
Net Promoter
Score
↓23 bps Q3FY24 2.22%
Note: Q3FY25 financial metrics and performance are unaudited
1
Total loan book weighted average Equifax credit score is the score at the time of application, includes active loans and excludes loans written off
2
NIM defined as loan book yield less finance costs, excluding corporate facility interest cost and hedge accounting impacts
3
Since inception
3
WISR AT A GLANCE
Since 2018, Wisr has supported Australians in reaching their personal and
financial goals
We are a sophisticated, purpose-built fintech lender with
a proven track record of executing in the debt capital markets
Our mission is to improve Australiansʼ financial health by reinventing
the consumer finance experience through our award-winning,
proprietary technology platform
1
2
number of
68K total
customers supported
1
2
warehouses
3
active term deals
1
called term deal
Loan customers engaged with the proprietary
Wisr platform are 29%2 further ahead on their loans
We have strong and diversified distribution channels including an established
broker network and direct-to-customer via our proprietary platform
loan
$2.1B total
originations
Technology-driven automation enabling Wisr to scale efficiently by
streamlining credit decisions, improve loan servicing and arrears management
automatically approved
79% ofby loans
AI powered decision engine
Total number of customers supported via loans written
Based on average comparison of engaged and unengaged Wisr Platform loan customers that are current and not in arrears during Q3FY25.
4
AUTOMATION TO SCALE
Automation of loan approval
and verification processes
● 79% of loans
automatically
approved by
AI powered
decision engine
Industry-leading arrears
management platform driving
losses improvement
CREDIT DECISIONS AUTOMATED
● New arrears management platform
that harnesses the power of scalable
data infrastructure
● Supports scalability by efficiently
managing higher volumes without
compromising credit quality, speed,
accuracy or increasing cost
EFFICIENCY
GROWTH
● Data driven arrears management
segmentation
● Real-time payment channels, available
via the Wisr app, website, and Wisr
Agents, offer seamless, convenient
payment options
PORTFOLIO QUALITY
New cloud native
loan ledger platform
● Supports strong growth and
high transaction volumes
● Reduction in manual processes
● Faster processing of loan servicing
and real time account updates
● Improved reporting and decision making
OPERATING LEVERAGE
SCALABILITY
5
WELL DIVERSIFIED CUSTOMER BASE
Where are our
customers located?
Our customersʼ
employment status
NT
1%
Full-time
73%
Self-employed
5%
QLD
35%
WA
16%
NSW
22%
SA
5%
TAS
2%
VIC
19%
Why are customers
coming to us?
ACT
1%
Part-time
8%
Vehicles1
64%
Casual
14%
Personal
loans
Secured
vehicle loans
68%
32%
of loan book
of loan book
New loan size average3
Debt consolidation
12%
Home improvements
and contents
11%
Other2
13%
Source: Internal Wisr data on loan principal balance, as at Mar-25
1
Comprises Secured Vehicle Loans 32% of total portfolio), and Personal Loans 32% of total portfolio)
2
Includes travel, medical, legal, weddings, and/or mixed purposes
3
For the quarter ended Mar-25
4
Total loan book weighted average Equifax credit score is the score at the time of application, includes active loans and excludes loans written off
What does the average Wisr
loan book customer look like?
$33,455
Credit score average4
800
6
STRUCTURAL TAILWINDS
● The major banksʼ market share of the Personal and Secured Vehicle
Lending market continues to decline
Share of total household lending with banks1
● Their focus is Mortgages and Business Lending, away from Personal
Lending 74% market share in Dec-19 down to 61% in Dec-24
● Two major banks recently exited the Secured Vehicle Lending market
● ABS issuances have increased substantially in the last two years as
non-bank lenders increase their Secured Vehicle Lending market share
● These structural tailwinds are creating opportunities for non-bank
lenders such as Wisr
Market opportunity / TAM3
SVL & Equipment ABS Issuance Breakdown2
$46B
$12B
Wisr market share
Wisr market share
0.2%
1.9%
Secured Vehicle
Loan originations
1
2
3
Personal Loan
originations
Source: Reserve Bank of Australia; Personal loans data refers to unsecured lending only
Source: Westpac Securitisation and Covered Bond Strategy, Bloomberg
Total addressable market size is a management estimate, which includes consumer and commercial lending segments
7
STRONG AND DISCIPLINED
LOAN ORIGINATION GROWTH
● The Company delivered another consecutive
quarter of strong loan origination growth in
Q3FY25
Loan originations
115% growth
19% growth
● Loan originations increased to $111.0M in
Q3FY25, up 115% on Q3FY24 $51.6M) and up
19% on Q2FY25 $93.5M
● Wisr has a significant scale opportunity
across its target segments, with current
market share below 1% in secured vehicle
lending and under 2% in personal loans
$37.2M
$73.8M
↑255%
↑80%
Q3FY24 $10.5M
Q3FY24 $41.1M
Secured Vehicle
Loan originations
Personal
Loan originations
8
RETURN TO
LOAN BOOK
GROWTH
● Following sustained loan origination
momentum, the total loan book has grown
for a second consecutive quarter, reaching
$777M as at Mar-25 Dec-24 $757M
Loan book
Two consecutive quarters of loan book growth
● Secured vehicle loan book increased 2%
to $270M
● Personal loan book increased 3% to $507M
$270M
$507M
↑2%
↑3%
Dec-24 $264M
Dec-24 $492M
Secured Vehicle
Loan Book
Personal
Loan Book
9
PORTFOLIO YIELD AND CREDIT QUALITY IMPROVEMENT
● Portfolio yield increased by 54 bps to 11.25% Q3FY24 10.71%
● Portfolio Net Interest Margin (“NIM2ˮ) increased by 36 bps to 5.60% Q3FY24 5.24%) due to improved yield and funding cost
● The quality of Wisrʼs portfolio remains high with its average credit score increasing for the third consecutive quarter to 8001
Portfolio yield
1
2
Portfolio NIM2
Total loan book weighted average Equifax credit score is the score at the time of application, includes active loans and excludes loans written off
NIM defined as loan book yield less finance costs, excluding corporate facility interest cost and hedge accounting impacts
Portfolio credit score1
10
ARREARS
PERFORMANCE
IMPROVEMENT
Customer credit scores and 90+ day arrears
● 90+ day arrears of 1.48%, an improvement of 23
basis points compared to Mar-24 1.71%, and a
7 basis point improvement from Dec-24 1.55%,
reflecting improved credit performance and the
impact of Wisrʼs new arrears management platform
● Net losses of 1.99%, an improvement of 23 basis
points compared to Q3FY24 2.22%) and a 27 basis
point increase from Q2FY25 1.72%. The result
remains well within the Companyʼs risk appetite
Net losses $ and %
11
MATURE FUNDING PROGRAM SUPPORTS GROWTH
● WH1 Personal Loan WH) has $400M of committed
funding $47M undrawn), WH2 Secured Vehicle WH
has committed funding of $250M $51M undrawn)
Funding at 31Mar-25
● The corporate facility has committed funding of $50M
$15M undrawn)
● Wisr has raised $875M across four ABS transactions –
Freedom21 (successfully called), Freedom22,
Independence23 and Freedom23
● In Mar-25, Wisr released term deal capital with the sale
of $5.0M of Freedom 23 G1 notes
● Work progressing on a third warehouse (mixed PL
and SVL) with new senior and mezzanine funders
1
Call dates are forecasted based on expected prepayment rates and actual dates may vary
Corp
Facility
WT1
WT2
F22
I23
F23
% drawn
70%
88%
79%
100%
100%
100%
Facility start
Jun-24
Oct-19
Oct-21
Jun-22
Feb-23
Dec-23
Facility expiry / call date1
Jun-27
Sep-25
Aug-25
Sep-25
Sep-26
Jul-27
Products
Corp
PL
SVL
PL
SVL
PL
12
STRONGLY
CAPITALISED
Cash held in warehouses and term deal trusts:
● Undistributed customer loan repayments (principal and interest)
● Unutilised funds from note subscriptions (predominantly third-party debt)
● Use of funds restricted to funding loans and operating warehouses and
term deals e.g. Trustee fees
Total cash on
balance sheet
$49.1M
Cash on hand available for any business purpose
Undrawn corporate facility available to fund the Companyʼs
ongoing growth plans
Wisr equity investment in funding trusts:
● PL Warehouse $18.0M
● SVL Warehouse $6.1M
● Freedom22 $5.5M, projected call date1 Sep-25
● Independence23 $8.4M, projected call date1 Sep-26
● Freedom23 $4.8M, projected call date1 Jul-27
As at 31Mar-25
1
Call dates are forecasted based on expected prepayment rates and actual dates may vary
13
EXECUTIVE
SUMMARY
Strong loan
origination
growth and
upgraded
guidance
Loan book
growth and
margin
improvement
Improved
loan book
performance
Strongly
capitalised
✓ Reflecting strong year-to-date performance, Wisr is upgrading its guidance to:
90%+ loan origination growth in FY25 (up from 75%
✓ Loan originations increased by 115% to $111.0M Q3FY24 $51.6M
✓ Second consecutive quarter of disciplined loan book growth realised in Q3FY25 after a period of
moderated loan volume and now on the pathway to a $1B loan book
✓ Continued portfolio margin improvement with yield of 11.25% Q3FY24 10.71%) and
NIM1 of 5.60% Q3FY24 5.24%) to deliver a highly profitable business at scale
✓ Net losses improved by 23 bps to 1.99% Q3FY24 2.22%
✓ 90+ day arrears improvement to 1.48% Mar-24 1.71%) and remains well-within risk appetite
✓ Strongly capitalised for growth with $22.5M of unrestricted cash and $15.0M undrawn corporate
facility
✓ Work progressed on third warehouse (mixed PL and SVL) with a new senior funder
1
NIM defined as loan book yield less finance costs,
excluding corporate facility interest cost and hedge
accounting impacts
14
QUESTIONS
FOR YOUR SMART PART
15
DISCLAIMER
No investment advice or offer of shares
This presentation does not constitute
investment advice, or an inducement or
recommendation to acquire or dispose in
any shares of Wisr, in any jurisdiction.
Risks and assumptions
This presentation contains statements
(including forward-looking statements),
opinions, projections, forecasts and other
material, based on various assumptions.
Whilst this presentation was prepared
with care and attention, those
assumptions may or may not prove to be
correct. All forward-looking statements,
whilst considered reasonable by Wisr at
the date of this presentation, involve
known and unknown risks, assumptions
and uncertainties, many of which are
beyond Wisrʼs control. There can be no
assurance that actual outcomes will not
differ materially from those stated or
implied by these forward-looking
statements, and readers are cautioned not
to place undue weight on such
forward-looking statements. To
understand more about the risks and
uncertainties faced by Wisr refer to the
2024 Annual Report.
ABN 80 004 661 205
Statements about past performance are
not necessarily indicative of future
performance. To the extent required by
law, neither Wisr of any of its directors,
officers, employees and agents give any
warranty, representation or guarantee as
to the accuracy or likelihood of fulfillment
of any forward-looking statement in this
presentation or assumption upon which
any part of this presentation is based or
the accuracy, completeness or reliability
of the information contained in this
presentation.
Non-GAAP financial measures
A number of non-GAAP financial
measures are used in this presentation.
You should not consider any of these in
isolation from, or as a substitute for, the
information provided in the audited
consolidated financial statements, which
are available at: www.wisr.com.au
Dollar estimates
All references to dollars, cents or $ in this
presentation are to Australian currency,
unless otherwise stated.
16
Share your feedback
Discover