Wisr (ASX: WZR) has unveiled a strong H1FY26 performance, marked by significant loan book growth and an upgraded FY26 outlook, signalling a clear path to profitability.
The company reported multiple announcements today, highlighting robust loan origination and improvements in credit quality.
Wisr's loan book grew by 23% year-on-year, reaching $928.5 million by December 2025.
This was underpinned by strong new loan originations, which hit $311 million in H1FY26, marking an 82% increase compared to the previous year.
Secured vehicle loan originations were a key contributor to this expansion, experiencing an 81% year-on-year growth during the period.
Revenue and Profitability on Track
The company reported a 14% increase in revenue, reaching $51.5 million in H1FY26. EBITDA for the half stood at $2.0 million.
While Cash NPAT for the half was -$0.7 million, Wisr achieved profitability in Q2FY26.
Management expects to maintain sustained Cash NPAT profitability throughout H2FY26.
Wisr bolstered its financial position by completing a $10.6 million equity raise and refinancing its corporate debt, actions instrumental in reducing overall funding costs.
Total warehouse commitments now stand at $767 million, with a healthy $165.2 million in undrawn capacity available.
The company's unrestricted cash reserves were $16.3 million, with total cash reaching $75.5 million.
Upgraded FY26 Outlook Confirmed
The company has reaffirmed its upgraded FY26 guidance, projecting revenue growth of 15%+ and loan origination growth of 40%+.
This reflects confidence in its operational model and market position.
Wisr also aims to further enhance efficiency, targeting a reduction in its cost-to-income ratio to below 29%.
The continued focus on automation and operational efficiencies is expected to support scalability.
Improving Credit Quality and Efficiency
Wisr demonstrated improved credit quality, with 90+ day arrears reducing to 1.13% and net losses recorded at 1.38%.
The average credit score for its portfolio was maintained at a strong 807.
These positive credit metrics are supported by the company's AI-driven underwriting, which auto-approves 83% of loans.
The Net Interest Margin (NIM) stood at 5.26% (Q2FY26: 5.30%), with Risk-Adjusted Margin (RAM) at 3.89%.
Path to Profitability Solidified
Wisr's H1FY26 results demonstrate strong operational execution, with significant loan book growth, improved credit quality, and enhanced funding arrangements paving the way for expected Cash NPAT profitability in H2FY26.
The upgraded FY26 guidance reinforces management's confidence in achieving scale and efficiency targets.
