Wisr delivered a 118% year-on-year gain in operating revenue and as a result, cash EBITDA saw an improvement of 30% to a loss of $7 million, ahead of last year?s loss of $10 million.
The non-bank lending company said it has taken steps in early FY23 to reduce operating costs to deliver profitability within 12 months.
?We?re well capitalised, building sustainable revenue and well placed to protect the business from any sustained economic downturn with a prime to super-prime customer base?, said CEO Anthony Nantes.
Shares of Wisr were on the move following the announcement, up 4.17% at lunch.