ASX-listed Wisr increases revenue and delivers EBITDA profitability

ASX-listed Wisr have announced their half year results with the key highlight being revenue up 11% to $48.1 million, an increase on H1FY23 of $43.2 million.

Wisr CEO Andrew Goodwin said, “Wisr has delivered revenue growth of 11% and EBITDA profitability for the period. This was achieved through moderated loan volume settings, portfolio and run rate NIM growth of 11 bps and 104 bps respectively, and prudent cost management, all while maintaining balance sheet strength.”

“Our focus on prime customers has ensured the quality of the portfolio remains strong and stable over time, with the average loan book credit score maintained at 781. At the same time, we were able to deliver a Dec-23 run rate yield of 13.43%, which is a 189 bps increase on pcp.”

“Ongoing investment in arrears and collections is a key priority for the Company. Work is well underway to deliver various initiatives, which have included the Wisr App’s one-time payment feature supporting the facilitation of both late payments by early-arrears customers and additional payments by proactive customers on performing loans. $11.3 million in additional payments have been made with this feature to date.”

“Wisr continues to reimagine the consumer financial journey. Our enhancements to the Wisr Platform user experience have increased Wisr loan customers’ monthly active app usage by 86%, alongside a 12% increase in rate estimates.”

“The Wisr business model is highly scalable and prioritises the customer. With the current settings in place, Wisr intends to recommence loan volume growth in H2FY24 (subject to appropriate market conditions and maintaining balance sheet strength),” finished Goodwin.