Praemium (PPS) H1 2025 earnings summary

Executive summary

• Achieved 32–33% revenue growth and 43% increase in underlying EBITDA for 1H25, with revenue at $52.3m and EBITDA at $12.9m, reflecting disciplined execution and platform innovation.

• Funds Under Administration (FUA) reached $62.1b, up 29% year-over-year and 8% from June 2024, supported by strong net inflows and market movement.

• Launched Spectrum, a new core product, with $69m net inflow and positive market reception.

• Maintained high client satisfaction, ranking No. 1 in key categories and No. 3 overall in the 2024 Investment Trends Report.

• Returned $7.5m to shareholders through dividends and buy-backs in HY25.

Financial highlights

• Revenue rose to $52.3m, up 32–33% year-over-year; underlying EBITDA increased to $12.9m, up 43%.

• Net profit after tax (NPAT) was $5.8m, up 45–46% from 1H24.

• Platform revenue margins elevated by SMA repricing; OneVue margin at 28bps, in line with group average.

• Cash and cash equivalents at period end: $37.3m.

• Dividend of 1 cent per share (AUD 4.8m) declared for FY2025.

Outlook and guidance

• Targeting continued double-digit revenue growth and cost growth at or below 10%.

• Focus on realizing the potential of Spectrum, Scope, and Scope+ as leading HNW advice platforms.

• Full integration of OneVue expected to deliver synergies and accretion in FY26, with AUD 3m in synergies targeted.

• Continued investment in technology and AI to drive operational efficiency and platform innovation.

• Positive market movements and net inflows expected to support future FUA growth.