Q1FY22revenue - $11.730madvertising - $5.518mNet loss from...

Q1FY22
revenue - $11.730m
advertising - $5.518m
Net loss from operating activities - $5.688m

Q4FY21
revenue - $9.306m
advertising - $1.631m
Net loss from operating activities - 0.868m

Q3FY21
revenue - $7.115m
advertising - $1.713m
net loss from operating activities - $2.002m

So assuming that advertising reverts to around $1.65m for the quarter now that the olympics spend is stripped out, and that the revenue continues to grow around $2m QoQ which would be in line with what’s happened across the last few quarterlies, it would be realistic to expect WZR to post its first profitable quarter. Labelling WZR “a speculative loss making fintech” is pretty lazy, you literally only need to look at the quarterlies to figure out what is going on. The way a loan book works, once they hit the point of profitability, every extra dollar they are lending is purely adding revenue to the bottom line because the existing book continues to generate revenue to cover the costs of keeping the lights on. Pleasingly, WZRs loan book growth each quarter is well and truly above the rate of attrition, so even if this quarter was cash flow neutral, profitability is literally right on the door step.

This one will reward those with patience in the long term.