Wisr H1FY24 Financial Results Overview

In the first half of the financial year 2024, Wisr (ASX: $WZR) reported operating revenue of $48.1 million, marking an increase from $43.2 million in H1FY23. The Net Interest Margin (NIM) stood at $23.7 million, reflecting growth from $22.2 million in the previous corresponding period. The company's loan book experienced a decrease to $847 million from $916 million as new loan originations amounted to $103 million, down from $302 million in H1FY23. Wisr's deliberate moderated loan volume settings aimed at maintaining balance sheet strength and profitability resulted in a 66% decrease in new loan originations.

Executive Commentary on H1FY24 Performance

Wisr's H1FY24 results demonstrate the platform's holistic approach to a customer's financial life, extending the relationship beyond transactions. The company's focus on scalability and customer impact has led to improved yield metrics, an 11% increase in revenue, and a 26% decrease in operating expenses. The deliberate moderated loan volume settings have been instrumental in maintaining the balance sheet strength and profitability. Wisr is well positioned to recommence loan volume growth in H2FY24, subject to appropriate market conditions.

Summary of H1FY24 Results and Outlook

Wisr's H1FY24 financial results reflect a strategic focus on customer impact and scalability, resulting in improved revenue and operational leverage. The company's deliberate moderated loan volume settings have contributed to maintaining balance sheet strength and profitability. With a well-capitalized position and sufficient headroom to support growth, Wisr aims to recommence loan volume growth in the second half of the financial year, contingent upon favorable market conditions. The platform's NIM expansion and credit quality maintenance underscore its commitment to prudent cost management and sustainable growth. Wisr's outlook remains aligned with its ambition to deliver scalable business outcomes and industry recognition, as evidenced by its recent achievements and customer engagement metrics.