David Stevens, Harmoney chief executive, said achieving profitability on both a statutory and pro forma cash profit basis was an important milestone for the business.
"Our performance over this last year highlights the scalability of our 100 per cent consumer-direct model and its potential to continue to deliver.
"The demand for a Harmoney loan has never been stronger, with our platform consistently attracting over 12,000 new customer accounts every month, resulting in account acquisition growth of 57 per cent on pcp [prior corresponding period]."
Its loan book grew 37 per cent from $501m to $685m but most of that growth was in its Australian arm. The Australian loan book increased from A$135m to A$287m while the New Zealand book rose just 3 per cent from $358m to $370m.
Harmoney noted the New Zealand loan book was impacted by the tightening of the Credit Contracts and Consumer Finance Act in December which had since been partially relaxed.
Stevens said while there were challenges in the market it believed there was still a significant opportunity to grow the business.
"We see the personal lending market as relatively stable, with enormous growth opportunities for Harmoney.
"While most personal lending is still dominated by banks and traditional lenders,
Harmoney's personalised, competitive and simple-to-use offerings provide customers with a compelling alternative."
Its pro forma incurred credit losses rose 12 per cent from $18.8m to $20.9m but fell as a percentage of gross loans from 3.9 per cent to 3.6 per cent.
Stevens said it would target a net interest margin of 10 per cent in the year ahead and forecast loan book growth and cash net profit growth. Although it did not provide any guidance on the growth.
Harmoney shares rose 2c to 77c on the NZX by just after 3pm but were down 60.69 per cent over the last year.
