1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Key points:
Wisr posts first full‑year cash NPAT profit and guides to at least $5m cash impact profit in FY27Record $695m loan originations and $1.1b loan book driven by AI‑enabled automation and non‑bank tailwindsNon‑bank funding via ABS and warehouses seen as increasingly competitive versus major banks
Matt Lewis from Wisr sets out a strong FY26, noting the group’s first full‑year cash NPAT profitability and a $6 million turnaround versus FY25. Lewis highlights record loan originations of $695 million, up 65% year on year, taking the loan book to $1.1 billion. Revenue is stated as rising 19% to $109 million, while the cost‑to‑income ratio falls to 28%. Lewis outlines FY27 cash impact profit guidance of at least $5 million, with further improvement targeted in FY28.
Growth is attributed to structural tailwinds for non‑bank lenders as major banks de‑prioritise personal and vehicle loans. Lewis points to bank share of personal lending falling over five years and notes exits from vehicle finance by Macquarie Group (ASX:MQG) and Westpac (ASX:WBC). For Wisr, heavy investment in AI, automation and faster decisioning is said to be lifting conversion, with 82% of loans now automatically decisioned and customer net promoter scores at +82.
On funding, Lewis cites a stronger asset‑backed securities market and competitive warehouse costs. Fixed‑rate lending and hedged funding are presented as insulating margins, while a focus on prime borrowers and a shift towards secured vehicle loans support low arrears and net losses. Lewis views recent share price gains as the market beginning to price in sustained profitability.
