• Cash NPAT increased 351% to $2.3m, 6th consecutive half of profitability
• Loan portfolio grew 4% to $782.8m, with 15% increase in originations
• Risk adjusted income increased 8% to $20.2m, cost to income ratio improved 310bps to 18.1%

Harmoney Corp Ltd reported a 351% increase in Cash NPAT to $2.3m for the 1H25 period, the sixth consecutive half of profitability. This was driven by an 8% rise in risk adjusted income to $20.2m, with a 7% increase in income and a 9% reduction in incurred credit losses more than offsetting a 15% increase in interest expenses. The loan portfolio grew 4% to $782.8m, with a 15% increase in originations to $191.3m led by a 25% rise in new customer originations. The cost to income ratio improved 310bps to 18.1%, reflecting Harmoney's ability to increase revenue while maintaining or lowering operational costs, with cash operating expense savings of $1.1m (9%). The expected credit loss provision reduced by $0.8m to $35.8m, with the provision rate decreasing 30bps to 4.5% due to improvements in the economic outlook. Harmoney's customer acquisition expenses to origination ratio improved 10bps to 3.2%, demonstrating the benefits of the Stellare 2.0 platform rollout in Australia.