Wisr Limited (ASX: $WZR) has reported an 11% increase in revenue, reaching $48.1M, and achieved EBITDA profitability of $0.2M in the first half of the financial year 2024. The company's primary activity during this period was writing personal loans and secured vehicle loans for 3, 5, and 7-year maturities to Australian consumers, and funding these loans through warehouse funding structures and securitisation trusts.
In H1FY24, Wisr has focused on balance sheet strength and loan unit economics through NIM expansion, continuing our moderated loan volume strategy in response to the macro environment. The Company delivered revenue of $48.1M, an 11% increase (H1FY23: $43.2M) and EBITDA profitability of $0.2M, an improvement on H1FY23 ($(0.9)M). Prudent cost management was evidenced by operating expenses of $13.1M, a decrease of 26% (H1FY23: $17.6M).
In the first half of the financial year 2024, Wisr Limited has demonstrated a strong financial performance with an 11% increase in revenue, reaching $48.1M, and achieving EBITDA profitability of $0.2M. The company has focused on balance sheet strength and loan unit economics through NIM expansion, while continuing a moderated loan volume strategy in response to the macro environment. Looking ahead, Wisr intends to recommence loan volume growth in the second half of the financial year 2024, leveraging its strong warehouse capacity, balance sheet, and attractive loan unit economics to build a highly profitable business at scale.