• 9% portfolio NIM sustained, with 10% new lending NIM
• $2.3m Cash NPAT, a 350% increase
• Achieved $2.0m statutory profit, up from $0.6m loss

Harmoney Corp Ltd, the ASX-listed consumer-direct lender, has reported strong financial results for the first half of fiscal year 2025. The company achieved a 9% portfolio net interest margin, sustained by a 10% new lending NIM. This drove a 350% increase in Cash NPAT to $2.3m, the company's sixth consecutive positive Cash NPAT half. Harmoney also achieved $2.0m in statutory profit, up from a $0.6m loss in the prior period. The results were underpinned by Stellare® 2.0, the company's proprietary automation platform, which propelled a 43% increase in Australian new customer lending and a 4% growth in the overall loan book. Credit quality remained strong, with credit losses reduced to 3.7% from 4.2% and 90+ day arrears at just 64bps. Harmoney's cost to income ratio improved to 18%, driven by the scalability of the Stellare® platform. The company is well-capitalized for significant growth, with $21m in unrestricted cash, $7.5m in undrawn corporate debt, and over $900m in total warehouse capacity. Harmoney provided FY25 guidance of $5m Cash NPAT and a 20% Cash ROE run-rate in 2H25, as well as FY26 targets of $10m+ Cash NPAT and 25%+ Cash ROE, driven by the continued rollout of Stellare® 2.0 and the compounding benefits of the company's 140% returning customer annuity.

FY25 Guidance: $5m Cash NPAT, 9%-10% net interest margin, 20% Cash ROE run-rate in 2H25

FY26 Target: $10m+ Cash NPAT, 25%+ Cash ROE, accelerated growth driven by Stellare® 2.0 and 140% returning customer annuity