Praemium (PPS) H2 2026 earnings summary

Executive summary

• Revenue grew 5.7% to AUD 110.5 million, with underlying EBITDA up 14.5% to AUD 32.1 million, reflecting strong platform growth, operating leverage, and margin expansion.

• Funds under administration (FUA) reached AUD 77.9 billion, up 21.1% year-over-year, with net inflows of AUD 1.9 billion and strong growth in high-net-worth and broker segments.

• Completed integration of OneVue and technology restructure, embedding AUD 12 million in annualized synergies for FY 2027 and delivering significant cost savings.

• Declared fully franked dividends totaling AUD 12.2 million for FY 2026, up 11.1% year-over-year, with a final dividend of AUD 0.0125 per share.

• Statutory NPAT declined 45.2% to AUD 6.5 million due to one-off costs, including acquisition, integration, and restructuring expenses.

Financial highlights

• Underlying EBITDA margin increased to 29.1%, up 223 basis points year-over-year.

• Platform revenue rose 6.3% to AUD 88.9 million; portfolio services revenue up 3.4% to AUD 21.6 million.

• Underlying net profit after tax increased 2.9% to AUD 15.4 million; statutory NPAT was AUD 6.5 million.

• Free cash flow was AUD 2.4 million, with underlying free cash flow at AUD 16.6 million after adjusting for one-off items.

• Cash holdings at year-end were AUD 30.1 million, down 26.5% year-over-year.

Outlook and guidance

• Entering FY 2027 with strong momentum, full-year benefit of OneVue and technology synergies, and a lower cost base.

• Platform revenue margin expected to stabilize in FY 2027 and trend upward into FY 2028 as account sizes normalize.

• Continued investment in technology transformation and phased deployment of a new Super platform, with some elevated marketing spend anticipated.

• Service revenue expected to grow, with new client wins offsetting contract roll-offs.

• Five-year revenue CAGR of 14.7%–15% and underlying EBITDA CAGR of 18.1% highlighted.