Harmoney (HMY) Q1 2026 TU earnings summary

Executive summary

• FY26 cash NPAT guidance reaffirmed at $12 million, a 111% increase over FY25, with Q1 results in line with expectations and strong loan book growth in both Australia and New Zealand.

• Stellare 2.0 platform implementation drove a 50% year-over-year increase in New Zealand loan originations and supported the launch of a secured auto loan product targeting new customer segments.

• Focus remains on organic growth in Australia and New Zealand, with no immediate plans for geographic expansion.

Financial highlights

• Loan book reached $833 million, up 8% year-over-year; Australian loan book up 18% to $502 million, New Zealand up 1% to NZ$378 million, with NZD weakness impacting reported growth.

• Net interest margin increased to 10.3%, up 140 bps year-over-year; risk-adjusted income improved to 6.5%, up 130 bps.

• Credit losses stable at 3.8%, within target range; 90+ day arrears at 0.77%, less than half the Australian market average.

• Cost-to-income ratio at 19%, reflecting high operational efficiency.

Outlook and guidance

• On track to finish FY26 with a loan book over $900 million, with net interest margin expected at approximately 10% and risk-adjusted margin over 6%.

• No upgrade to guidance at this time; refinancing of $22.5 million corporate debt facility expected to provide material savings but not impact current quarter.