Wisr reports 21 back-to-back quarters of new loan growth

Highlights 

  • Wisr has reported record revenue of AU$12.1 million for Q1FY22.
  • WZR is capitalised with AU$30.7 million as unrestricted cash along with liquid loan assets of AU$24.4 million as of 30 September 2021. 

ASX-listed non-banking personal and business lending service provider Wisr Limited (ASX:WZR) shared its September quarter update on 27 October 2021.

The Company stated that it has delivered 21 consecutive quarters of new loan growth through a two-year pandemic. With AU$12.1 million in revenue for the quarter, the Company has reported an increase of 195% compared to the same period last year.

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The Company revealed:

  • 21 back-to-back quarters of loan growth: AU$132 million originations in the quarter, a 113% growth on Q1FY21.
  • Acceleration in Secured vehicle loans (SVL): contributing AU$47 million of the AU$132 million, a 31% increase on Q4FY21.
  • Future growth to be backed by the AU$225 million Wisr Secured Vehicle Warehouse, supported by National Bank Australia (NAB) as well as Revolution Asset Management (Revolution).
  • Total loan originations: AU$743 million as at 30 September 2021 (increase of 142% from pcp), bringing Wisr’s fully-owned loan book to AU$475 million, a growth of 247% on pcp.

WZR closed at AU$0.270 per share on ASX, a low of 1.819% compared to the previous close.

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Bottom Line:

The Company expects to see improved demand in the personal finance market as lock-down curbs start to lift and rise in consumer demand in the personal loan categories that had been impacted by COVID-19, creating a solid tailwind for WZR as it enters 2022.

With two Wisr Warehouse facilities in operation and ready to drive significant, sustained growth, the Company is in a powerful position to push through its medium-term target of AU$1billion loan book, the path to profitability and operating leverage into H2 and beyond.

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