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Wisr Limited (ASX: WZR, Wisr) has announced a 77 per cent year-on-year increase in loan originations to $93.5 million from $52.9 million for the quarter ending 31 December 2024 (2Q25) despite a “seasonally slower quarter”.
Additionally, this was also a 21 per cent increase on the prior quarter’s figure of $77.3 million.
Wisr also announced it has returned to loan book growth after a period of moderated loan volume settings, with its total loan book increasing to $757 million from $753 million in the previous quarter.
Andrew Goodwin, Wisr’s CEO, said on the results: “Wisr’s continued focus on growth is evident in our latest market update.
“Driven by a significant increase in loan originations to $93.5 million and growth of our loan book to $757 million, these strong results highlight the business’ dedication towards supporting even more Australians in reaching their financial and personal goals.”
According to the company, one of the primary drivers of this loan book growth was the rising proportion of secured vehicle loans in its portfolio, reaching $39.1 million (up by 230 per cent on the same period in 2023).
Meanwhile, Wisr customers with loans 90-plus days in arrears increased to 1.55 per cent from 1.40 per cent from the September quarter of 2024, in what the company described as a “seasonal increase”, but still “well within risk appetite”.
“The prime quality of Wisr’s loan book continues to improve with our average credit score increasing to 798,” Goodwin said.
“Alongside this growth, our portfolio NIM increased to 5.93 per cent and net losses decreased for the second consecutive quarter to 1.72 per cent from 2.06 per cent and 2.75 per cent in Q1FY25 and Q4FY24 respectively.
“As we conclude the first half of FY25, our focus remains on accelerating loan origination growth and building our loan book at attractive loan unit economics while prioritising profitability and maintaining a strong balance sheet.”
In terms of funding and capital, Wisr had unrestricted cash of $17.9 million, down from the previous year’s $19.9 million. Additionally, the company has two warehouse facilities in place in order to support originations, with a total commitment value of $650 million and an undrawn capacity of $153 million.
Wisr currently has a remaining $15 million from the $50 million corporate facility announced in May 2024, with the funds being used to support its ongoing growth plans.
[RELATED: Wisr sees surge in loan originations]
