Half Year 2025 WISR Ltd Earnings Call Transcript
Key Points
- Wisr Ltd (ASX:WZR) reported a 66% increase in new loan originations, reaching $170.8 million, indicating strong growth momentum.
- The company achieved EBITDA profitability of $0.8 million, showcasing improved financial performance.
- Wisr Ltd (ASX:WZR) has expanded its portfolio yield and net interest margin (NIM), enhancing revenue potential.
- The business is well-capitalized with significant free cash and undrawn warehouse capacity to support future growth.
- Automation improvements have led to 78% of loan applications being automatically approved, increasing operational efficiency.
- The loan book experienced a slight decrease of 2% to $757 million, reflecting a transitional phase.
- Revenue saw a slight decline of 1% due to lower average loan balances, despite improved yield.
- Operating expenses increased by 6.3% to $13.9 million, reflecting the investment needed to support growth.
- The company has not yet reached its target cost-to-income ratio, which is expected to improve with further scaling.
- Despite positive trends, the company remains exposed to macroeconomic risks such as unemployment and interest rate fluctuations.
All right. Good morning, everybody, and welcome to the Wisr results presentation for the first half of FY25. With us this morning, we have CEO, Andrew Goodwin; and CFO, Matthew Lewis, who will take us through the presentation that was lodged with the ASX this morning.
As always, a quick bit of housekeeping before we kick off. Today's webinar is being recorded, and we will post this on the Wisr website following the completion of the webinar. (Event Instructions)
And with that, I will now hand it over to Andrew and Matthew.
Thanks, Eleanor, and good morning, everyone. Thanks for joining. So just to kick off, it has been a great half for Wisr H1 FY25, and the key message really is that we are very much set up for sustainable growth. The four key highlights for the half were strong loan origination growth, improved loan book performance, expanding margins and pleasingly delivering EBITDA profitability, and the fact that the business is very well capitalized for growth.
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