Wisr Turns Cash NPAT Positive as FY26 Originations Surge 65%

Wisr Limited (ASX: WZR) has delivered its first full-year cash net profit after tax of $1.0 million in the 2026 financial year as record loan originations and improved credit performance supported a return to cash profitability.

Loan originations increased 65% to $695.3m and revenue rose 19% to $108.8m, while the closing loan book expanded 32% to $1.084 billion at 30 June 2026.

Wisr exceeded all four FY26 guidance measures including Cash NPAT profitability in the second half, origination growth above 50%, revenue growth above 15%, and a cost-to-income ratio below 29%.

The lender is targeting FY27 Cash NPAT of at least $5.0m, supported by continued origination and loan book growth, operating leverage, cost discipline, and productivity gains from automation and technology.

On a statutory basis, Wisr recorded a $6.715m loss for FY26, while Cash NPAT excludes non-cash items including share-based payments, depreciation and amortisation, expected credit loss provision movements and mark-to-market adjustments.

Originations Lift Loan Book

Personal loan originations increased 53% to $415.3m during FY26 while secured vehicle loan originations climbed 86% to $280.0m, extending the growth momentum across both lending products.

The personal loan book grew 24% to $664.8m and the secured vehicle loan book increased 45% to $419.2m, with secured vehicle lending representing 39% of the total portfolio at year-end.

“Having delivered on our FY26 commitments, we enter FY27 with strong momentum and a business that is scaling profitably,” chief executive officer Andrew Goodwin said.

“We are pleased to reaffirm our FY27 Cash NPAT guidance of at least $5.0m, supported by continued loan book growth, operating leverage and disciplined cost management.”

“Wisr also expects Cash NPAT to grow substantially in FY28 through continued scale and operating leverage.”

Improved Credit And Margins

Credit performance strengthened as 90-plus-day arrears fell 39 basis points to 1.01% and net losses improved 41bps to 1.38% of average loan balances.

The weighted average portfolio credit score increased to 807 from 804, while ECL provision coverage declined 51bps to 2.05% as book seasoning, recoveries and late-stage arrears improved.

Portfolio net interest margin (NIM) eased 19bps to 5.27%, reflecting lower portfolio yield as the lending mix shifted towards secured vehicle loans, which carry lower yields and lower credit losses.

Risk-adjusted margin increased 22bps to 3.89% because the improvement in net losses more than offset NIM compression, while the cost-to-income ratio improved to 28% from 31%.

Wisr is increasing its use of AI and automation across document fraud detection, asset verification, financial document review, and income verification as it pursues further operational leverage.