ASX-listed fintech Wisr returns to growth

ASX-listed fintech Wisr have provided a market update for the quarter ending 30 June 2024 (Q4FY24).

Following the execution of the $50 million debt facility provided by global financial services firm Nomura, Wisr recommenced growth achieving a 7% increase in loan originations in Q4FY24 compared to the prior quarter. Post the Nomura transaction, the run-rate loan originations quarterly performance was c. $67.5 million, a 30% increase on the prior quarter.

Quarterly Net Operating Cash Flow was $4.0 million, a 128% increase on Q4FY23 ($1.8 million), while Quarterly Revenue of $22.5 million was an 8% decrease on Q4FY23 ($24.6 million)

Loan originations of $55.2 million was a 7% increase from Q3FY24 ($51.5 million), with the company recommencing growth following the execution of the new facility provided by Nomura

Andrew Goodwin, Wisr’s Chief Executive Officer, said, “As we concluded the final quarter of FY24, on the back of the Nomura transaction, we transitioned from our previous focus on moderated loan volume settings and recommenced growth. Wisr saw a 7% increase in loan originations in Q4FY24 compared to the previous quarter. The end of the quarter was particularly pleasing post the Nomura transaction, with quarterly run-rate originations of c. $67.5 million, an increase of 30% from Q3FY24.”

“We continued to expand portfolio yield and Net Interest Margin to 10.90% (10.17% pcp) and 5.38% (5.21% pcp), respectively, while maintaining a high average credit score of 782. With the $50 million facility provided by Nomura settled during the quarter, Wisr is positioned to continue growing loan originations at attractive unit economics and scale the business to profitability and a self-sustaining capital position,” ended Goodwin.