Wisr Limited (WZR.AX) Earnings Call Transcript & Summary

Hi, Andrew Goodwin here, CEO of Wisr. I'm pleased to present our Q2 FY '26 results to you today. The business has very much entered the phase of scale and profitability, and the results we delivered in Q2 very much prove this out. The loan book growth accelerated, and we closed out the quarter at $928.5 million, which is growth of 23% on PCP and 7% on prior quarter. This was driven by strong growth in loan originations of $164.2 million for the quarter, which was 76% up on PCP and 12% up on prior quarter. Within those loan originations, we saw strong growth across both our personal loan and secured vehicle loan products. And now are some key highlights for the quarter. The strong growth in loan book flowed through to strong growth in revenue. We closed out the quarter with $26.5 million of revenue, which is up 16% on PCP and 6% on prior quarter. The loan book performance has been extremely strong during the quarter with both 90-plus and net losses decreasing significantly by 42 basis points and 57 basis points, respectively, to close out at 1.13% and 1.15%. This was further driven by the continued strength in our loan book credit quality with the average score at 807. Our portfolio yield remained broadly flat. And pleasingly, our NIM increased by 4 basis points on prior quarter, driven by some optimization within our capital structure post bringing in Warehouse 3, the term deal and a number of other capital initiatives. On to balance sheet and the pathway to profitability. During the quarter, we completed a $10.6 million capital raise, well supported by new institutional investors and existing shareholders. That capital raise would be used to pay down some of our existing corporate debt with the balance of funds used to support ongoing growth within the business. On the back of that raise, we're also able to refinance our corporate facility to a much improved margin, which really did optimize our overall balance sheet and capital structure and also drove an upgrade to our guidance where we've guided the expectation of achieving cash NPAT profitability in H2 FY '26. To our customers and partners. We enhanced our product offering during the quarter with the rollout of a secured personal loan and a motorbike product to complement our existing product suite. We expanded the rollout of our instant loan settlement capability. And when people take out a product with Wisr, the money hits their account virtually instantaneously. Our broker portal continued to improve, really aimed at improving the experience and efficiency with which our broker partners use that portal. And finally, our NPS score remains extremely strong with our customers at 82. To wrap up, I'd like to thank our shareholders, our customers, our partners and the Wisr team for a fantastic quarter. I look forward to seeing you again in around a month to present our full H1 FY '26 results. Thanks for listening, and have a good day.