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Wisr (ASX:WZR) share price up 3% on another record quarterly result

Wisr just marked its 20th consecutive quarter of growth. Here’s what you need to know.
The post Wisr (ASX:WZR) share price up 3% on another record quarterly result appeared first on The Motley Fool Australia. –

The Wisr Ltd (ASX: WZR) share price has opened 3.77% higher on Monday to 27.5 cents after the company announced yet another record quarterly result.

Wisr is a non-bank lender, offering personalised consumer loans of up to ~$63,000. The company also owns an innovative money management app allowing customers to round up purchases to the nearest dollar, with the difference used to pay off existing loans.

Why the Wisr share price is on the move

Wisr was pleased to announce the “continued trajectory of uninterrupted growth”, delivering its 20th consecutive quarter of growth.

The company announced $123 million of new loans originated in Q4 FY21, a 26% increase on Q4 FY21 and a 193% increase against the prior corresponding period.

Wisr said it has now reached $611 million in total loan originations since inception, with the latest $100 million written in less than three months.

This momentum has carried through to its loan book balance, sitting at $379 million as at 30 June 2021, or a 342% increase on the prior corresponding period.

The company said that its medium-term target is to scale towards a wholly-owned $1 billion loan book.

What did management say?

Wisr CEO Anthony Nantes hailed the continued momentum, saying:

It’s an incredible result to deliver 20 straight quarters of loan growth and another significant and material step-change in our new loan originations. Wisr’s purpose-led model is attracting Australia’s most creditworthy customers as they leave the banks and seek a smarter, fairer deal, underpinned by an exceptional experience that actually improves financial wellness.

About the Wisr share price

The Wisr share price has stalled in the past month, following a capital raising on 1 June.

The $50 million capital raising would offer a significant discount to participants, with new shares issued at 25 cents each, or a 21.9% discount to its last closing price on Friday, 28 May.

When Wisr resumed trading on 2 June, the company’s shares plummeted 14% from 32 cents to 27.5 cents.

Despite this, the Wisr share price is still up a solid 40% year-to-date.

The post Wisr (ASX:WZR) share price up 3% on another record quarterly result appeared first on The Motley Fool Australia.

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More reading

Why the Wisr (ASX:WZR) share price is edging higher today

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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