Highlights

  • Harmoney Corp Limited (ASX:HMY) reported a 1QFY27 Loan book of AUD 912mn, up 9% YoY.
  • The 90-plus-day arrears ratio improved to 0.64%, against 0.77% a year earlier.
  • Management reiterated FY27 Cash NPAT guidance of at least AUD 16mn.

Harmoney Corp Limited (ASX:HMY) is a consumer lender operating in Australia and New Zealand through technology-led lending and distribution. Its investor presentation dated 22 October 2026 outlined 1QFY27 operating metrics and confirmed FY27 Earnings guidance. The figures refer to the quarter rather than a completed financial year.

Loan Book Advances in 1QFY27

Harmoney Corp Limited (ASX:HMY) reported a total loan book of AUD 912mn for 1QFY27, compared with AUD 833mn in 1QFY26, representing growth of 9% YoY. The Australian book reached AUD 573mn from AUD 502mn, up 14%, while the New Zealand book was NZD 418mn compared with NZD 378mn, up 11%. Because the regional book values use different currencies, they should not be added to derive the consolidated figure.

Margins, Losses and Arrears

The company reported a net interest Margin of 10.3%, unchanged YoY. Credit losses remained at 3.8%, while the Risk-adjusted margin was steady at 6.5%. The ratio of loans more than 90 days in arrears fell from 0.77% to 0.64%, an improvement of 13 basis points. The cost-to-income ratio declined from 19% to 18%. These measures provide separate views of lending yield, credit performance and operating costs.

FY27 Earnings and Portfolio Ambitions

In the 22 October presentation, the group reaffirmed guidance for FY27 Cash NPAT of at least AUD 16mn. Management also identified a year-end loan book ambition above AUD 1bn, supported by its Stellare 2.0 platform and new intermediary channel. These are company targets rather than achieved results. The on-market buyback was described as continuing under an extension announced on 22 April 2026.

Intermediary Distribution and Technology

The Australian intermediary channel had two partners operating in September 2026. The presentation showed cumulative originations increasing from AUD 1.9mn in August to AUD 7.0mn in September, following launch. Management described a pipeline opportunity above AUD 100mn in annual funded Volume by FY28 if more than ten intermediaries participate. The company is also developing AI-supported credit decisions, retention tools and product access to facilitate repeat lending.

Funding Position and Risks

The company said Warehouse Financing supported 97% of the loan book at 30 June 2026. It disclosed AUD 27mn of unrestricted cash and AUD 28mn in warehouse equity, with a further AUD 12mn of accessible cash as defined in its presentation. Lending growth introduces continued sensitivity to funding conditions, borrower delinquencies and origination costs. The performance of intermediary distribution remains an execution consideration.

Key Takeaways

The quarter combined loan-book growth with stable margins, lower arrears and improved cost efficiency. FY27 Cash NPAT and the year-end portfolio target remain forward-looking management guidance, while the reported quarterly loan and credit metrics are historical observations.