Omni Bridgeway (OBL) H2 2025 earnings summary

Executive summary

• Achieved all key strategic objectives for FY 2025, including a landmark secondary market transaction generating $320 million in cash, enabling full debt repayment and de-leveraging of the balance sheet, and transitioned to a capital-light fund management model.

• Exceeded OpEx reduction and fee income growth targets, with OpEx at $84.1 million (down 6.2% year-over-year) and fee income up 20%.

• Raised over $500 million in new third-party capital across multiple funds and sidecar arrangements.

• Achieved strong portfolio developments in 2H25, providing a solid base for FY26.

Financial highlights

• Statutory income reached $651.2 million, up 253% year-over-year, with net profit after tax of $416.8 million and EBIT of $495.5 million.

• OBL-only total income was $371.4 million, with a statutory EPS of $1.23 per share.

• Book value per share (IFRS) at $2.99, or $3.51 if all investments at fair value.

• Cash OpEx reduced to $84.1 million, beating the $85 million target.

• Fee income increased to $30 million, achieving the FY25 target.

Outlook and guidance

• Positive momentum for FY 2026 with strong deal wins, increased pipeline at risk-adjusted pricing, and positive regulatory developments.

• Targeting OpEx of $80 million and fee income of $35 million for FY 2026.

• Aiming for 70% cost coverage by FY 2028 and double-digit AUM growth over the next three years.

• Fund 4/5 Series II capital raise on track for completion in early FY 2026.