At the time of writing, the Wisr share price is sitting at 20 cents per share. The non-bank lender’s shares have fallen 14.89% in the last 12 months.
Wisr’s second quarter FY21 highlights
In today’s release to the ASX, Wisr informed the market of its continued record quarterly growth with prime loan customers. The company’s loan originations experienced a growth of $83.8 million quarter on quarter, an increase of 35%. This also represents a significant 165% increase in loan originations from the second quarter of FY20.
Including the reported figures for this most recent quarter, Wisr’s total loan originations now sit at a record $390.5 million as at 31 December 2020. While achieving this record, Wisr also managed to improve the average credit score of its customers to 757.
Reportedly, Wisr’s recently launched secured vehicle loan product has been delivering strong initial results. Wisr CEO Mr Anthony Nantes stated, “[o]ur new secured vehicle product has also significantly increased the total addressable market for Wisr.”
The strong growth defies any concerns of the short-term impact from COVID-19 on the company’s ability to grow its loan originations. Mr Anthony Nantes provided the following comments on the results:
We had a very strong start to the quarter and it’s fantastic to see that momentum continue through the holiday period, delivering 35% growth while attracting the best borrowers in Australia. The consumer sentiment shift we witnessed from COVID-19, for better financial products and services, has certainly not slowed down.
Mr Nantes also expressed excitement for the potential growth in 2021, pointing to the company’s differentiated business model, consumer proposition, technology platforms, and funding capability as foundations for aggressive growth.
At the current Wisr share price, the company holds a $219 million market capitalisation.