Wisr Limited (ASX: WZR) reported positive financial indicators for Q2FY24, signaling revenue growth and net interest margin (NIM) expansion. Quarterly revenue reached $23.7M, marking an 8% increase from Q2FY23, while the NIM stood at 5.11%. Despite a decrease in loan book size due to moderated loan volume settings, profitability metrics demonstrated sustained growth. Loan originations totaled $53M, reflecting a deliberate reduction, and the loan book reduced to $847M. Notably, the 90+ day arrears remained stable at 1.31%.
The company's balance sheet maintained strength with $19.9M in unrestricted cash and increased equity capital in Wisr Warehouses to $46.9M. Wisr successfully closed its fourth ABS transaction and renewed key facilities, reflecting confidence in the company's prime loan book. The Wisr App and customer satisfaction levels, as indicated by a Net Promoter Score of +78, further highlight the positive trajectory.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
