Plenti Group (PLT) Q1 2026 TU earnings summary

Executive summary

• Achieved record loan originations of $437 million in Q1 FY26, up 44% year-over-year and 7% sequentially, with all three verticals—automotive, renewables, and personal loans—showing strong growth.

• Loan book reached $2.7 billion, a 21% increase year-over-year and 6% sequentially, reflecting sustained momentum and effective execution of refreshed corporate strategy.

• Strategic partnership with NAB began delivering meaningful origination volumes, and the company won the Western Australian Government's Home Battery Rebate Scheme tender, delivering a technology solution within 6 weeks.

• Completed a $400 million ABS issuance, upsized from original plans, with strong investor demand and favorable pricing.

Financial highlights

• Quarterly revenue was $73.3 million, up 20% year-over-year.

• Automotive originations were $229 million (up 50% year-over-year), renewables $49 million (up 13%), and personal loans $160 million (up 48%).

• Margins improved versus the prior quarter, with a strong performance in April and normalization by June; net interest margins on new originations were marginally up sequentially.

• Annualized loss rates dropped to 94 basis points, down 28% year-over-year and from 116 basis points sequentially, with particularly strong performance in personal loans.

• 90-day REERs ended at 49 basis points, down from 59 basis points year-over-year.

Outlook and guidance

• Targeting a $3 billion loan book by March 2026, with all resources aligned to achieve this goal.

• Aims to drive meaningful Cash NPAT growth and deliver $25 million in efficiency as portfolio scales.

• On track to maintain an operating cost base of ~$69 million or less in FY26.

• Continued focus on growth, profitability, and operating efficiency, supported by strong origination momentum and low credit losses.

• Expecting further growth in renewables and automotive, with NAB partnership and WA program as key drivers.