Wisr Reports First Full-Year Cash Profit of $1M in FY26 and Boosts FY27 Cash NPAT Forecast to $5M

Q4FY26 Loan Originations Set New Records Amid Sustained Growth

Wisr achieved record quarterly loan originations of $198.1 million in Q4FY26, marking a 41% increase over Q4FY25’s $140.3 million and a 6% rise from Q3FY26’s $186.1 million. This sequential growth highlights strong momentum in loan origination driven by expansion of personal and secured vehicle loan products via broker and direct channels.

Personal loan originations reached $108.7 million, up 22% from $88.9 million in Q4FY25, while secured vehicle loan originations surged 74% to $89.4 million from $51.4 million in Q4FY25. FY26 loan originations totaled $695.3 million, a 65% increase over FY25’s $422.0 million. The loan book closed at $1,084.0 million as of 30 June 2026, up 32% from $824.0 million a year earlier and 8% higher than $1,003.4 million at 31 March 2026. These gains reflect Wisr’s successful investments in technology, automation, and broker distribution.

Outperforming FY26 Guidance Metrics Demonstrates Strong Execution

Wisr exceeded all four FY26 guidance metrics, showcasing effective operational execution and capital discipline. The company delivered $1.7 million cash NPAT in H2FY26, surpassing its profitability guidance. Loan origination growth reached 65%, exceeding the 50% target against FY25’s baseline. Revenue grew 19% to $109 million, beating the 15% forecast. The cost-to-income ratio improved to 28%, better than the 29% guidance, reflecting efficient expense control and operating leverage. Q4FY26 revenue rose 26% year-on-year to $30.0 million and 10% sequentially from Q3FY26, driven by loan book expansion.

FY27 Cash NPAT Guidance Raised to $5.0 Million, Indicating Strong Profit Growth

Wisr projects FY27 cash NPAT of at least $5.0 million, a fivefold increase from FY26’s unaudited $1.0 million. This growth is expected to be fueled by ongoing loan origination and loan book expansion, operating leverage from the existing cost base, disciplined cost management, and productivity improvements from technology investments. The company anticipates further substantial cash NPAT growth in FY28 as scale and operating leverage increase, signaling a multi-year trajectory toward enhanced profitability.

This outlook is significant for investors evaluating Wisr’s long-term earnings potential. The progression from $1.0 million in FY26 to at least $5.0 million in FY27 and higher in FY28 reflects confidence in the scalability of Wisr’s lending platform and efficiency gains from automation. However, risks remain from execution challenges, competitive pressures, economic conditions, and credit performance that could affect loan originations and losses.

Expansion of Asset-Backed Securitisation and Capital Strategy

In May 2026, Wisr completed its sixth and largest asset-backed securitisation, the Wisr Momentum Trust 2026, upsized to $354 million from $300 million. This was the company’s first combined personal and secured vehicle loan ABS, highlighting its ability to securitise its growing vehicle loan portfolio alongside personal loans. Moody’s awarded AAA ratings to the Class A and Class AX notes, underscoring strong credit quality and investor confidence.

The ABS also met European Union and United Kingdom risk retention requirements, broadening Wisr’s international investor base beyond Australian markets. As of 30 June 2026, Wisr’s three warehouse facilities had commitments totaling $887 million, up from $767 million at 31 March 2026, with $364 million undrawn capacity to support near-term loan originations. Unrestricted cash increased to $16.6 million from $14.8 million, demonstrating strong liquidity and diversified funding access.

Improved Credit Quality and Stable Portfolio Risk Profile

Credit quality improved in Q4FY26, reflecting strong underwriting. The average credit score was 807 at 30 June 2026, up from 804 a year earlier and stable from 808 at 31 March 2026. The 90-day arrears rate declined 39 basis points to 1.01% from 1.40% at 30 June 2025 and improved 13 basis points from 1.14% at 31 March 2026. Net losses fell 36 basis points to 1.30% compared to 1.66% in Q4FY25 and improved 14 basis points from Q3FY26’s 1.44%.

The portfolio Risk-Adjusted Margin (RAM) remained steady at 3.81%, compared to 3.80% a year earlier and 3.79% the prior quarter, as improved credit losses offset net interest margin compression. These results demonstrate disciplined risk management and a high-quality loan portfolio, supported by an increasing share of secured vehicle loans with lower credit losses.

Portfolio Yield Stabilises Amid Net Interest Margin Pressure

Portfolio yield held steady at 11.00% in Q4FY26, compared to 11.20% in Q4FY25 and 10.99% in Q3FY26. Front book pricing increases implemented in Q3FY26 offset the shift toward lower-yielding secured vehicle loans, which also have lower funding costs and credit losses. This reflects Wisr’s proactive pricing strategy amid portfolio mix changes.

However, net interest margin (NIM) declined 36 basis points to 5.11% from 5.47% a year earlier and fell 12 basis points sequentially from 5.23%. Management attributed this to higher funding spreads and portfolio mix shifts, reflecting broader interest rate trends and wholesale funding costs. Despite NIM compression, stable Risk-Adjusted Margin indicates credit loss improvements more than compensated for funding cost increases.

Strong Customer and Broker Satisfaction Supported by Technology Investments

Wisr achieved a customer Net Promoter Score of 82 and a broker Net Promoter Score of 80 in FY26, indicating high satisfaction across direct and broker channels. The company was named The Adviser's #1 non-bank personal loan lender by its broker network, highlighting strong market positioning and service quality. These metrics support sustainable growth through referrals and broker partnerships.

Wisr invested in AI and automation to enhance customer experience and operational efficiency, including AI document fraud detection, automated vehicle asset verification, and AI-driven application workflow verification. These initiatives align with management’s strategy to drive productivity and operating leverage, contributing to cost-to-income ratio improvements while maintaining credit quality.

Competitive Positioning in Australian Fintech Lending Market

Wisr competes in the Australian non-bank fintech lending sector against traditional banks, other non-bank lenders, and digital platforms. It offers personal and secured vehicle loans via brokers and direct channels. The sector has experienced consolidation and growth, with non-bank lenders gaining share among credit-constrained and self-employed borrowers. Wisr’s focus on broker relationships and digital origination positions it well to capture market growth.

Profitability achieved in FY26 and FY27 profit growth guidance reflect scale benefits and operational efficiencies from automation. Nonetheless, the market remains competitive with pricing pressures and funding challenges. Economic factors such as interest rates, employment, and credit demand will influence lending volumes and credit losses. Wisr’s technology, broker network, and customer satisfaction provide competitive advantages, though investors should monitor market dynamics and macroeconomic risks.

Upcoming Audited FY26 Results and Disclosure Notes

Wisr plans to release audited FY26 full-year financial results on 26 August 2026, providing detailed financial statements, audit confirmation, management commentary, and any updated guidance or strategic information. This release will clarify any differences between unaudited Q4FY26 metrics and final audited figures.

Investors are reminded that the 28 July 2026 company update contains unaudited Q4FY26 and FY26 financial data and that forward-looking FY27 and FY28 guidance involves risks and uncertainties beyond Wisr’s control. Actual results may differ materially from projections. The company will update guidance as required under ASX Listing Rules and disclose material changes promptly.