Wizr financial results 2024

Wisr Limited (ASX: WZR) reported its FY24 results, showcasing resilience in a challenging macroeconomic environment. Due to moderated lending, the company's loan book decreased to AU$770 million from AU$931 million in FY23. However, revenue increased by 2% to AU$93.8 million, driven by improved yield metrics. Wisr maintained its prime loan book quality with an average credit score of 782. The company secured an AU$50 million corporate facility from Nomura, bolstering its balance sheet for future growth. Wisr returned to growth in May 2024, with Q4FY24 run rate loan originations growing by 30% compared to Q3FY24. Strategic cost management decreased operating expenses by 19% to AU$26.5 million. Looking ahead to FY25, Wisr aims to grow loan originations by 75% compared to FY24 while focusing on profitability and deepening customer connections through its Wisr App.

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