In its Q4 FY26 market update for the period ending 30 June 2026, Wisr Limited (ASX: WZR) reported its inaugural full-year Cash NPAT profit of $1.0M, a turnaround from $(5.3)M in FY25 on an unaudited basis. The Australian fintech lender exceeded all four of its FY26 guidance metrics and issued forward FY27 Cash NPAT guidance of at least $5.0M.
Record quarterly originations underpinned the result. Q4 FY26 loan originations reached $198.1M, up 41% on the prior corresponding period, while quarterly revenue increased 26% to $30.0M. The loan book closed the year at $1,084.0M, up 32% on June 2025.
All Q4 FY26 and FY26 figures are unaudited. Wisr expects to release its audited full-year financial results on 26 August 2026.
Q4 FY26 guidance scorecard: four for four
The standout of the reporting period was the Company’s performance against guidance. Wisr exceeded every one of its four FY26 targets, spanning profitability, origination growth, revenue growth and cost discipline.
| Metric | Guidance | Actual (FY26) | Outcome |
|---|---|---|---|
| Cash NPAT profitability | Profitability in H2 FY26 | H2 FY26: $1.7M | Exceeded |
| Loan origination growth | 50%+ | 65% ($695M) | Exceeded |
| Revenue growth | 15%+ | 19% ($109M) | Exceeded |
| Cost-to-income ratio | <29% | 28% | Exceeded |
For investors, the clean sweep points to disciplined execution and operating leverage beginning to emerge as the business scales.
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Lending performance drove the record quarter
Lending momentum was the engine behind the record quarter. The loan book reached $1,084.0M, up 32% on June 2025 ($824.0M) and 8% on March 2026.
The $1 billion loan book milestone was crossed in Q3 FY26, when the book closed at $1,003.4M on record quarterly originations of $186.1M and guidance was upgraded to 50%+ origination growth, setting the stage for the Q4 result reported here.
Origination growth was balanced across both product lines:
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Q4 originations of $198.1M, up 41% on Q4 FY25 and 6% on the prior quarter
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Personal loan originations of $108.7M, up 22%
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Secured vehicle loan originations of $89.4M, up 74%
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Full-year FY26 originations of $695.3M, up 65% on FY25
Secured vehicle lending was the fastest-growing segment, complementing continued personal loan demand.
Credit quality strengthened alongside growth
Growth was achieved without any deterioration in credit quality, a key signal for a scaling lender. The loan book’s average credit score remained strong at 807 (June 2025: 804).
Arrears and losses both improved. The 90+ day arrears rate improved 39 basis points to 1.01% (June 2025: 1.40%), while net losses improved 36 basis points to 1.30% (Q4 FY25: 1.66%), reflecting continued improvement in underlying credit performance.
Financial results: revenue up, margins reshaped by portfolio mix
Quarterly revenue increased 26% year-on-year and 10% quarter-on-quarter to $30.0M, driven by strong loan book growth. Portfolio yield stabilised at 11.00%, as front book pricing increases offset the mix shift towards secured vehicle loans, which carry lower yields.
Net Interest Margin (NIM), the difference between what Wisr earns on loans and its funding costs, decreased 36 basis points to 5.11%, reflecting higher funding spreads and the portfolio mix shift. The Portfolio Risk-Adjusted Margin (RAM), which factors in net loan losses, remained stable at 3.81% (Q4 FY25: 3.80%).
RAM stability is the important takeaway. As the loan book shifts towards secured vehicle loans, lower losses offset the NIM compression, indicating loan book quality and profitability held firm despite the changing mix.
What Cash NPAT means for investors
Cash NPAT measures Net Interest Margin less net loan losses, operating expenses and cash corporate facility costs. It excludes non-cash items such as share-based payments, depreciation and amortisation, ECL provision movements and mark-to-market adjustments.
Reaching maiden Cash NPAT profitability signals that Wisr’s lending model now generates real cash after covering its costs. For a scaling fintech lender that previously operated at a loss, this represents a turning point where growth is now translating into cash profit rather than consuming it.
Capital and funding: sixth ABS priced and upsized
Wisr strengthened its funding position during the period through a landmark securitisation transaction. In May 2026, the Company priced its sixth and largest asset-backed securities (ABS) transaction, the $354M Wisr Momentum Trust 2026-1, upsized from $300M.
The transaction carried several notable features:
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It was Wisr’s first combined personal loan and secured vehicle loan ABS, achieving AAA Moody’s ratings for the Class A and Class A-X notes
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It was Wisr’s first ABS structured to satisfy EU and UK risk retention requirements, broadening the Company’s international investor base
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The three warehouse facilities held total commitments of $887M, with $364M of undrawn capacity
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Unrestricted cash stood at $16.6M (March 2026: $14.8M)
Investors exploring the mechanics and strategic rationale behind the securitisation transaction can find our detailed coverage of the Wisr Momentum Trust 2026-1 pricing, which walks through the upsizing from $300M, the dual-currency investor broadening, and the cost-of-funds impact in full.
Customer strength and automation gains
Wisr recorded a customer Net Promoter Score of +82 and a broker Net Promoter Score of +80. The Company was named The Adviser’s #1 non-bank lender for personal loans, as voted by The Adviser’s broker network.
Wisr continued to invest in AI and automation to improve the customer experience, including:
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AI document fraud detection to reduce fraud exposure at submission
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Automated asset verification for digital vehicle checks
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AI verification agents to review financial documents
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Streamlined income verification to speed up approvals for a portion of secured vehicle loans
Leadership commentary
Andrew Goodwin, Chief Executive Officer, Wisr
“FY26 was a landmark year for Wisr. We exceeded all four guidance metrics and delivered our first full year of Cash NPAT profitability. … Having delivered on our FY26 commitments, we enter FY27 with strong momentum and a business that is scaling profitably.”
Goodwin noted the loan book increased 32% to $1,084.0M and full-year revenue increased 19% to $108.8M, supported by record originations. He highlighted that growth was achieved alongside continued improvement in credit performance and an improved cost-to-income ratio of 28% (FY25: 31%).
FY27 outlook: guidance of at least $5.0M Cash NPAT
Looking ahead, Wisr expects to deliver FY27 Cash NPAT of at least $5.0M, a significant increase from unaudited FY26 Cash NPAT of $1.0M. As a forward-looking guidance figure, this remains a management expectation rather than a certainty.
The Company expects the improvement to be driven by continued loan origination and loan book growth, operating leverage, disciplined cost management and productivity gains from investments in automation and technology. Wisr also expects Cash NPAT to grow substantially in FY28 as the business benefits from increased scale.
The guidance points to a steep profit ramp. Investors will receive audited confirmation and further detail when the Company releases its audited full-year FY26 results, expected on 26 August 2026.
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