Wisr, an ASX-listed fintech lender, has reported robust growth for the March quarter (Q3FY25), with total loan originations rising by 115% to $111 million, up from $51.6m in Q3FY24.
The increase marks the second consecutive quarter of loan book growth and reflects momentum across both secured vehicle and personal loans, following a 77% rise in Q2 originations after strategic volume adjustments.
Secured vehicle loan originations grew 255% year-on-year to $37.2m, while personal loan originations rose 80% to $73.8m.
“Our results this quarter highlight the strength of Wisr’s strategic pivot back to growth,” said CEO Andrew Goodwin (pictured). “With loan originations up 115% on Q3FY24 and the loan book increasing for a second consecutive quarter, we are pleased to upgrade our FY25 loan origination growth guidance to 90%+ (up from 75%+).”
Wisr’s loan book closed the quarter at $777m, a $20m increase from December. The average borrower credit score rose to 800, while 90+ day arrears improved by 23 basis points year-on-year to 1.48%.
Net losses came in at 1.99%, a 23 basis point improvement compared to Q3FY24, and remained within the company’s risk appetite.
“This momentum reflects the positive impact of our investment in automation and technology-led processes, which have delivered efficiency and scalability across both our secured vehicle and personal loan products,” Goodwin said.
“At the same time, we’ve maintained a strong credit profile, with an average credit score of 800 and continued improvement in arrears.”
Wisr, which recently released its first Money On Your Mind report highlighting broker and consumer insights on financial planning and market sentiment, reported a portfolio yield of 11.25% for the quarter, up from 10.71% in Q3FY24, and a net interest margin (NIM) of 5.6%.
Revenue for the quarter was $22.4m, slightly down from $23.1m in Q3FY24, due to a lower average loan balance prior to the company’s pivot back to growth in Q4FY24.
“As we head into the final quarter of FY25, our priorities remain firmly centred on sustainable and disciplined loan book growth, risk-adjusted returns, and platform enhancement,” Goodwin said.
“We remain committed to supporting our customers and helping more Australians make smarter financial decisions.”
Wisr ended the quarter with $22.5m in unrestricted cash, up from $17.9m in December, following the release of $5m through the sale of Freedom 23 G1 notes.
The company retains two warehouse facilities with a combined commitment of $650m and $99m in undrawn capacity. An additional $15m remains available under its corporate facility.
The company reported a Net Promoter Score of +74 and since inception, has facilitated $47.5m in extra loan repayments and $10.6m in customer round-ups.
