Full Year 2026 WISR Ltd Post Earnings Interview
[Company Representative] (Wisr): Results due today. FY 2026 was a landmark year for Wisr. It was our first full year of cash NPAT profitability. We strongly beat all four guidance metrics provided for the year, and we surpassed a billion-dollar loan book in March of 2026. FY 2026 key highlights. Cash NPAT profitability for the year was AUD 1 million. To put this into context, that was up a -5.3 for FY 2025, making it very clear the trajectory that the business is on.
[Company Representative] (Wisr): Results due today. FY26 was a landmark year for Wisr. It was our first full year of cash NPAT profitability. We strongly beat all four guidance metrics provided for the year, and we surpassed a billion-dollar loan book in March of 2026. FY26 key highlights. Cash NPAT profitability for the year was AUD 1 million. To put this into context, that was up a -5.3 for FY25, making it very clear the trajectory that the business is on. That cash NPAT was driven by 65% growth in loan originations of AUD 695 million, which again, beating guidance that we provided of 50%. The loan book was up 32% to AUD 1.1 billion. Revenue was up 19% to AUD 109 million. That beat guidance, which was 15%. A really pleasing metric was the cost-to-income ratio, and I want to talk about this a little bit more.
Speaker #1: Results to you today. If Y26 was a landmark year for Wiser, it was our first full year of cash-in-pat profitability, we strongly beat all four guidance metrics provided for the year, and we surpassed a billion-dollar loan book in March of 2026.
Speaker #1: FY26 key highlights: cash-in-pat profitability for the year was a million dollars, to put this into context that was up a negative 5.3 for FY25, making it very clear the trajectory of the business is on.
Speaker #1: That cash-in-pat was driven by 65% growth in loan originations of 695 million, which again beat in guidance that we provided the 50%. The loan book was up 32% to 1.1 billion, revenue was up 19% to 109 million.
[Company Representative] (Wisr): That cash NPAT was driven by 65% growth in loan originations of AUD 695 million, which again, beating guidance that we provided of 50%. The loan book was up 32% to AUD 1.1 billion. Revenue was up 19% to AUD 109 million. That beat guidance, which was 15%. A really pleasing metric was the cost-to-income ratio, and I want to talk about this a little bit more.
Speaker #1: That beat guidance, which was 15%. A really pleasing metric was the cost-to-income ratio, and I want to talk about this a little bit more.
Speaker #1: So we beat guidance of less than 29%, we achieved 28%, that was down from 31% in FY25. But to put that operational leverage into context, operating expenses grew by 7% versus that 19% growth in revenue, again the operating leverage in the business is very clear.
[Company Representative] (Wisr): We beat guidance of less than 29%, we achieved 28%, that was down from 31% in FY25. But to put that operational leverage into context, operating expenses grew by 7% versus that 19% growth in revenue. Again, the operating leverage in the business is very clear. Our risk-adjusted margin was up 22 basis points to 3.89%. This is a very important number because our headline portfolio yield and NIM was slightly down, but this is driven by more risk skew towards secured vehicle loans, which do have a lower headline yield. But importantly, that risk-adjusted margin, which is after funding costs and losses, was up. Again, just to look at our 90 plus and our net losses. So 90 plus was down by 39 basis points to 1.01%, and our net losses were down by 41 basis points to 1.38%.
[Company Representative] (Wisr): We beat guidance of less than 29%, we achieved 28%, that was down from 31% in FY25. But to put that operational leverage into context, operating expenses grew by 7% versus that 19% growth in revenue. Again, the operating leverage in the business is very clear. Our risk-adjusted margin was up 22 basis points to 3.89%.
Speaker #1: Our risk-adjusted margin was up 22 basis points to 3.89%. This is a very important number because our headline portfolio yield and NIM were slightly down, but this is driven by more of a skew toward secured vehicle loans, which do have a lower headline yield but importantly that risk-adjusted margin, which is after funding costs and losses, was up.
[Company Representative] (Wisr): This is a very important number because our headline portfolio yield and NIM was slightly down, but this is driven by more risk skew towards secured vehicle loans, which do have a lower headline yield. But importantly, that risk-adjusted margin, which is after funding costs and losses, was up. Again, just to look at our 90 plus and our net losses. So 90 plus was down by 39 basis points to 1.01%, and our net losses were down by 41 basis points to 1.38%.
Speaker #1: Again, just to look at our 90-plus and our net losses, so 90-plus was down by 39 basis points to 1.01%, and our net losses were down by 41 basis points to 1.38%.
Speaker #1: Again, this is driven by the continued strong credit scores we see in our book, of 807. Now to capital. During FY26, the business undertook a number of capital initiatives to accelerate the pathway to profitability and strengthen the balance sheet.
[Company Representative] (Wisr): Again, this is driven by the continued strong credit scores we see in our book of 807. Now to capital. During FY26, the business undertook a number of capital initiatives to accelerate the pathway to profitability and strengthen the balance sheet. In November, we did a AUD 10.6 million capital raise, which was well supported and was used to de-lever the balance sheet and to allow for some growth capital.
[Company Representative] (Wisr): Again, this is driven by the continued strong credit scores we see in our book of 807. Now to capital. During FY26, the business undertook a number of capital initiatives to accelerate the pathway to profitability and strengthen the balance sheet. In November, we did a AUD 10.6 million capital raise, which was well supported and was used to de-lever the balance sheet and to allow for some growth capital. On the back of this, we refinanced our HoldCo facility to a materially lower margin, again, lowering our overall funding costs and accelerating that pathway to profitability. We undertook our sixth ABS transaction, which was a AUD 354 million deal. It was our first combined product deal, so both our personal loan and our secured vehicle loan product, and it was our first cross-border transaction.
Speaker #1: In November, we did a 10.6 million dollar capital raise, which was well supported and was used to delever the balance sheet, and to allow for some growth capital.
Speaker #1: On the back of this, we refinanced our headco facility to a materially lower margin, again lowering our overall funding costs and accelerating that pathway to profitability.
[Company Representative] (Wisr): On the back of this, we refinanced our HoldCo facility to a materially lower margin, again, lowering our overall funding costs and accelerating that pathway to profitability. We undertook our sixth ABS transaction, which was a AUD 354 million deal. It was our first combined product deal, so both our personal loan and our secured vehicle loan product, and it was our first cross-border transaction.
Speaker #1: We undertook our six ABS transaction, which was a 354 million dollar deal, it was our first combined product deal, so both our personal loan and our secured vehicle loan product, and it was our first cross-border transaction, so we started attracting a lot of offshore capital in our ABS investments, which sees us very well placed for further transactions.
[Company Representative] (Wisr): We started attracting a lot of offshore capital into our ABS investments, which sees us very well placed for further transactions. On the back of this, we have significant warehouse capacity for further loan volume growth, and we are well capitalized for future growth from an overall balance sheet and cash perspective. Now, importantly to customers, the business has delivered exceptional Net Promoter Score results, both 82 for customer and 80 for the broker network. Part of this result is driven by the AI and automation investments we've made across the business, driving speed, predictability, and reassurance for our customers and partners. We also won the Adviser Innovation Awards Best Non-Bank Personal Loan Provider, which is a great result. On to FY27 outlook. After an exceptional FY26, Wisr is seeking to consolidate on the great results that have been delivered.
[Company Representative] (Wisr): We started attracting a lot of offshore capital into our ABS investments, which sees us very well placed for further transactions. On the back of this, we have significant warehouse capacity for further loan volume growth, and we are well capitalized for future growth from an overall balance sheet and cash perspective.
Speaker #1: On the back of this, we have significant warehouse capacity for further loan volume growth, and we are well capitalized for future growth from an overall balance sheet and cash perspective.
Speaker #1: Now, importantly to customers. The business has delivered exceptional net promoter score results. Those are 82 for customer and 80 for the broker network. Part of this result is driven by the AI and automation investments we've made across the business, driving speed, predictability, and reassurance for our customers and partners.
[Company Representative] (Wisr): Now, importantly to customers, the business has delivered exceptional Net Promoter Score results, both 82 for customer and 80 for the broker network. Part of this result is driven by the AI and automation investments we've made across the business, driving speed, predictability, and reassurance for our customers and partners. We also won the Adviser Innovation Awards Best Non-Bank Personal Loan Provider, which is a great result. On to FY27 outlook. After an exceptional FY26, Wisr is seeking to consolidate on the great results that have been delivered.
Speaker #1: We also won the advisor's best non-bank lender personal loan provider, which is a great result. On to FY27 outlook. After an exceptional FY26, Wiser is seeking to consolidate on the great results that have been delivered.
Speaker #1: The FY27 guidance we're providing to the market is cash-in-pat of at least 5 million dollars. This will be driven by continued growth, automation, and operational leverage that we've spoken about, and that are very evident for FY26.
[Company Representative] (Wisr): The FY27 guidance we are providing to the market is cash NPAT of at least AUD 5 million. This will be driven by continued growth, automation, and operational leverage that we have spoken about and that are very evident for FY26. We have provided further qualitative guidance, so we expect cash NPAT to again grow substantially into FY28. We are very excited for what FY27 has to offer, and we are looking forward to delivering for our customers, shareholders, and staff. To finish, I would like to thank our shareholders, customers, and brokers for their support during what was a great FY26. I would also like to thank the whole Wisr team for what has been delivered as a business. We are very excited about what FY27 has to bring, and we look forward to sharing those results with you in due course. Thanks for listening, and have a good day.
[Company Representative] (Wisr): The FY27 guidance we are providing to the market is cash NPAT of at least AUD 5 million. This will be driven by continued growth, automation, and operational leverage that we have spoken about and that are very evident for FY26. We have provided further qualitative guidance, so we expect cash NPAT to again grow substantially into FY28. We are very excited for what FY27 has to offer, and we are looking forward to delivering for our customers, shareholders, and staff.
Speaker #1: We've provided further qualitative guidance, so we expect cash-in-pat to again grow substantially into FY28. We're very excited for FY27 has to offer, and we're looking forward to delivering, for our customers, shareholders, and staff.
Speaker #1: To finish, I'd like to thank our shareholders, customers, and brokers for their support during what was a great FY26. I'd also like to thank the whole Wiser team for what has been delivered as a business.
[Company Representative] (Wisr): To finish, I would like to thank our shareholders, customers, and brokers for their support during what was a great FY26. I would also like to thank the whole Wisr team for what has been delivered as a business. We are very excited about what FY27 has to bring, and we look forward to sharing those results with you in due course. Thanks for listening, and have a good day.
Speaker #1: We're very excited about FY27 has to bring, and we look forward to sharing those results with you in due course. Thanks for listening, and have a good day.
