Wisr - FY22 Result - Revenue growth of 118%

Australian fintech market updates and news

Wisr owl on colourful background

Sydney, 30 August 2022 - Wisr Limited (ASX: WZR) (ACN 004 661 205) (“Wisr”, or the “Company”) is pleased to announce its Financial Report commentary for the year ended 30 June 2022.

In early FY23, Wisr has taken prudent steps in light of current market conditions to reduce operating costs to deliver profitability within 12 months while maintaining a robust cash-balance sheet to deliver both moderate growth and strong profitability1 over the medium-long term.


Strong Growth Recorded on Key Metrics

  • Operating revenue up 118% to $59M (FY21: $27M)

  • Total new loan originations up 67% to $611M (FY21: $366M)

  • Total loan originations $1.2B as at 30 June 2022

  • An unbroken record of 24 quarters of prime-credit loan origination growth

  • Loan book growth of 103% to $780M (FY21: $384M)

  • Delivered two positive operating cash flow quarters in Q2FY22 and Q3FY22

  • 30% Cash EBTDA improvement (FY22: $(7)M vs FY21: $(10)M)

  • Over 647,000 customer profiles (FY21: 450,000) in the Wisr Financial Wellness Platform as at 30 June

    2022, a 43% increase

  • Significant reduction in short-term growth aspirations in lending in response to the macro environment, switching from high to moderate growth, will positively impact Cash EBTDA

  • Wisr has increased the front book weighted average yield by c. 340 bps between April and September 20222

  • Front book yield will continue to lift to ensure the Company protects net interest margin and profitability given market volatility

  • A material reduction in employee expenses and headcount

  • A material reduction in external spend

Strategic adjustments

  • Pausing all new credit product expansion, innovation and go-to-market expenditure

  • Exited any continued support for Arbor investment in the EU market, and any short-term growth

    ambitions for geographical expansion

  • Material overall reduction in investment in the Wisr Financial Wellness Platform to further drive push

    to profitability

  • The Company is well capitalised with $23.3M unrestricted cash at 30 June 2022 along with $8.2M loans available for sale, setting the Company up for continued growth

  • An increase in committed funding into the Wisr Warehouse from $350M to $450M in April 2022

  • An increase in committed funding into the Wisr Secured Vehicle Warehouse from $300M to $400M in

    July 2022

  • The Company's second ABS transaction, the $250M Wisr Freedom Trust 2022-1 (made up of personal

    loans), received a AAA Moody’s rating for the top two tranches and a weighted average margin of

    2.23% over one-month BBSW, freeing up $250M capacity in $450M warehouse (WH1)

  • On-balance sheet portfolio 90+ Day arrears of 0.98% at 30 June 2022 (FY21: 0.65%)


  • Floating BBSW has been hedged since the inception of warehouse funding facilities in November 2019

  • Increased the front book weighted average yield by c. 340 bps between April and September 2022 in

    response to the blended hedged BBSW cost increasing by c. 80 bps2


    Mr Anthony Nantes, Chief Executive Officer, Wisr, said, “We are a growth Company and will be a growth Company for the next decade or more as we seek to materially increase our share of the c. $150B consumer finance market in Australia.

    “After achieving two positive operating cash-flow quarters in FY22 before the change in macroeconomic conditions, we have been well on the way to profitability. We’ve made material reductions in operating costs and lifted our yield by around 340bps to protect our NIM as we enter FY23 to deliver profitability in the short-term and moderate growth.”

Anthony Nantes from Wisr in blue suit

About Wisr Limited

Wisr (ASX: WZR) is Australia’s first neo-lender with a commitment to the financial wellness of all Australians through providing a smarter, fairer and wiser collection of financial products and services. Wisr provides a unique Financial Wellness Platform underpinned by consumer finance products, the Wisr App to help Australians pay down debt, multiple credit score comparison service, combined with content and other products that use technology to provide better outcomes for borrowers, investors and everyday Australians.