Wisr Returns To EBITDA Profitability on Back of 101% Loan Origination Growth
Wisr (ASX: WZR) has delivered 101% loan origination growth in FY25, exceeding upgraded guidance and marking a key step back toward consistent profitability.
The company lifted its loan book to $824 million while posting an EBITDA profit of $0.8m, underpinned by stronger margins and lower credit losses.
With a new $267m warehouse secured and clear FY26 targets, Wisr believes it is positioned to accelerate growth while maintaining discipline on credit quality.
Loan Growth Momentum
Wisr originated $422m in loans over FY25, comprising $271m in personal loans and $151m in secured vehicle loans, representing increases of 69% and 207% respectively year-on-year.
The company recorded three consecutive quarters of loan book growth, reversing a previous period of contraction.
The $824m loan book was up 7% on June 2024, with credit quality improving as the average borrower score rose to 804 from 794.
Ninety-day arrears fell to 1.40%, down from 1.58% a year earlier, while net losses improved to 1.79% from 2.40%.
Chief executive officer Andrew Goodwin said the strong loan origination performance “drove a return to loan book growth, which together with higher net interest margins and lower net losses, delivered EBITDA profitability.”
Improved Financial Performance
Revenue came in at $91.6m, down slightly from $93.8m in FY24 due to lower average balances earlier in the year, though revenue returned to growth in the second half.
Portfolio yield rose to 11.20% and net interest margin increased to 5.46%.
The $0.8m EBITDA was a $3.1m improvement YoY, while the cost-to-income ratio held at 31%.
Wisr remains focused on reducing this to below 29% in FY26.
The company retains carried-forward tax losses of $88.2m, which it says will support stronger cash generation once taxable profits are achieved.
Capital and Funding Position
Wisr expanded its funding base in May by executing a third warehouse with Barclays Bank PLC, adding $267m in committed funding.
Total warehouse commitments now stand at $917m with $287m undrawn, alongside a $15m undrawn corporate facility.
Statutory accounts showed cash and cash equivalents of $43.6m at 30 June 2025, down from $62.4m, reflecting loan book expansion.
Net assets stood at $26.7m, reduced mainly due to non-cash hedge accounting impacts from interest rate swaps.
Three-Pronged Strategy
Wisr is pursuing a three-horizon strategy: strengthening its lending base and profitability in the near term, broadening reach and customer verticals over the medium term, and building a platform model that diversifies revenue in the longer term.
The company continues to invest in automation, with 80% of loan approvals and 40% of verification steps now automated,
Management said these efficiencies would support scalable growth without compromising credit quality, setting FY26 targets of 40% loan origination growth and 15% revenue growth.
“We believe FY25 is just the beginning of what is possible for Wisr as we continue to innovate, grow our market share and support even more people in progressing towards what matters to them,” Mr Goodwin added.