iFAST Corporation (AIY) Q3 2026 earnings summary

Executive summary

• 3Q2026 revenue rose 23.0% YoY to S$167.01m and net profit attributable to owners increased 24.5% to S$32.37m; 9M revenue grew 33.2% to S$483.51m and net profit 34.4% to S$90.27m.

• AUA reached a record S$36.76bn at 30 Sep 2026, up 20.0% YoY, supported by S$3.80bn in 9M net inflows.

• 2026 growth remains on track, with the U.K. bank expected to contribute more materially; overall profit margin improvement is targeted for 2027.

Financial highlights

• 3Q2026 EBITDA was S$51.59m, up 22.8% YoY; total net revenue rose 23.6% to S$110.65m and PBT increased 22.4% to S$38.56m.

• 9M2026 total net revenue grew 36.5% to S$323.90m and PBT rose 31.5% to S$107.72m; EPS was 29.57 cents, up 32.9%.

• 9M2026 operating expenses rose 38.0% YoY to S$215.28m, faster than total revenue growth of 33.2%, reflecting platform investment and expanded ePension operations.

• Recurring net revenue increased 39.6% to S$281.19m in 9M2026; non-recurring net revenue rose 19.2% to S$42.71m.

• 9M unit trust subscriptions reached S$10.43bn, up 33.1% YoY; 9M net inflows totaled S$3.80bn, up 2.3%.

Outlook and guidance

• FY2026 net profit is expected to deliver robust growth; iFAST Global Bank pretax profit is expected to exceed S$10m, versus S$3.11m in 2025.

• AUA target remains S$100bn by 2030, implying a CAGR of 26.5% or higher over the next four to five years; assumptions allow for short-term market downturns.

• FY2026 total dividend is expected to be at least 12.00 cents per share, at least 43% above FY2025; overall profit margin improvement is targeted in 2027.

• 2027 growth is expected to remain robust, with wealth management targeted to grow over 20% annually, subject to market conditions.

• A 2026–2028 plan expects headcount to be lower by end-2028 after a mid-2026 peak, supporting margin improvement from 2027 onward.