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Netwealth Group
Netwealth Group (NWL) investor relations material
Netwealth Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary17 Feb, 2026
Executive summary
Achieved record half-year results for 2026, with FUA up 23.6% to $125.6B and strong inflows from new and existing clients.
Statutory net loss of $2.2M due to a $100.7M one-off compensation expense and $1.0M legal costs related to the First Guardian Master Fund collapse; excluding these, net profit was $69.0M, up 19.9%.
Total income rose 24.7% to $193.8M, and EBITDA increased 23.9% to $96.7M, with an adjusted margin of 49.9%.
Number of client accounts grew 13.7% to 172,221, and adviser base expanded 7.3% to over 4,000.
Continued investment in technology, AI, and product innovation, positioning the business for future growth.
Financial highlights
FUA grew 23.6% year-over-year to $125.6B; net flows for the period were $8.2B.
Platform revenue up 25.3% to $189M, with management fee income up 30% and ancillary fees up 36.5%.
Adjusted EBITDA was $96.7M, up 23.9%, with an EBITDA margin of 49.9%.
Adjusted EPS increased 20.5% to 28.1 cents; interim dividend increased 20% to 21 cents per share, fully franked.
Free cash flow before tax increased 27.3% to $90.3M; cash conversion ratio at 99.7%.
Outlook and guidance
FY26 FUA net flows expected to be similar to FY25; EBITDA margin guidance at approximately 49% (excluding First Guardian expenses).
Dividend policy remains based on earnings excluding First Guardian impacts.
Management remains optimistic about future flows and market share gains, supported by demographic trends and new product launches.
Strong business momentum continued into 2H26, with QTD netflows of $1.6B and FUA at $127.3B as of 16 February 2026.
Strategic focus on governance, technology, and expanding high net worth offerings.
How was First Guardian compensation funded?
What investments impacted EBITDA margin?
What factors drove platform revenue growth beyond FUA?
Quantify AI's impact on product development speed
HIN offering: revenue profile and margin impact
Regulatory uplift impact on future margins
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Netwealth Group
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Frequently asked questions
Netwealth Group Limited is an Australian financial services company specializing in wealth management. The company provides a broad range of financial products and services including superannuation products for accumulation and retirement, managed accounts, and managed funds. Furthermore, Netwealth offers investor directed portfolio services catering to both superannuation and non-super investments. Their services extend to investment wrap products for self-managed super fund (SMSF) clients, incorporating investment options like listed and international securities, managed account models, managed funds, term deposits, premium services, and investor rewards. Insurance products, alongside forms and documents necessary for financial planning and management, are also part of their offerings. Netwealth supports financial intermediaries and private clients, including financial advisers, private clients, and high net worth firms, with advisory, licensee, and private wealth solutions. The company also provides tools and resources for portfolio management, performance tracking, investment research, and mobile access to manage investments effectively. Founded in 1999, Netwealth Group Limited is headquartered in Melbourne, Victoria, and its shares are listed on the ASX.
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