Wisr delivers more revenue growth

Wisr delivers more revenue growth

ASX-listed fintech Wisr Limited have provided a market update for the quarter ending 31 December 2023 (Q2FY24).

Key highlights for the period include Quarterly Revenue of $23.7 million, an 8% increase on Q2FY23 of $22.0 million, and Quarterly Net Operating Cash Flow of $4.1 million, up 166% on Q2FY23 of $1.5 million.

Wisr CEO Andrew Goodwin, said, “Under our moderated loan volume settings, we’ve remained focused on balance sheet strength and loan unit economics through NIM expansion. The marginal decrease in loan book size was driven by the deliberate moderation of loan origination volume and conservative capital management strategy.

Notwithstanding this marginal decrease, we are very pleased to have delivered an 8% increase in revenue versus pcp and expanded NIM with an exit run rate of 7.16% on new loan originations in Dec-23, while maintaining loan book credit quality with a high average credit score of 781.”

“We priced our fourth ABS transaction, the $200 million Wisr Freedom Trust 2023-1 and added balance sheet strength with the $2 million sale of Freedom 2022 G1 notes. It’s a testament to the debt market’s confidence in the company, including the quality of the prime loan book and the strong risk and operational frameworks in place.”

“As we enter 2024, our attractive loan unit economics set the company up for success when market conditions are deemed appropriate to recommence scaling,” finished Goodwin.