ASX-listed Wisr delivers $24.3 million in quarterly revenue

ASX-listed Wisr Limited have provided their Quarterly Activities Report for the quarter ending 30 September 2023, with the key highlight being quarterly revenue of $24.3 million.

Newly appointed Wisr CEO Andrew Goodwin said, “Our moderated loan volume strategy remains in place with a continued focus on the maintenance of balance sheet strength and attractive loan unit economics. Notwithstanding our moderated loan volume settings, we’ve delivered operating cash flow of $5.4M6, a 22%7 improvement on the prior quarter.”

“Revenue was broadly flat quarter on quarter notwithstanding a small decrease in loan book, and losses increased given the ongoing maturing of the loan book. The macroeconomic environment and resulting impact on arrears will continue to be closely monitored. Ongoing focus on investment in collections strategies is a priority for the business with work well underway to deliver various initiatives, including investment in extra resources and technology.”

“The moderation of loan origination volume will continue until market conditions are deemed appropriate to resume scaling.”