HUB24 (HUB) H2 2025 earnings summary

Executive summary

• Achieved record net inflows of AUD 19.8 billion, leading the industry for six consecutive quarters and driving 34% growth in Platform FUA to AUD 112.7 billion year-over-year.

• Recognized as Australia's leading platform for the third year running, with top advisor satisfaction and NPS scores.

• Added 572 new advisors, the largest increase since FY 2021, now covering 33% of the adviser market and expanding reach across all client segments.

• Continued investment in technology, automation, AI-driven solutions, and enhanced reporting capabilities to drive efficiency and customer value.

• Maintained strong ESG focus, progressing toward net zero emissions and gender diversity targets.

Financial highlights

• Group revenue rose 24% to AUD 406.6 million; platform revenue up 28% to AUD 323.3 million, tech solutions up 9% to AUD 77.1 million.

• Underlying EBITDA increased 38% to AUD 162.4 million; platform EBITDA up 39% to AUD 142.9 million, tech solutions up 23% to AUD 27.2 million.

• Underlying NPAT up 44% to AUD 97.8 million; statutory NPAT up 68% to AUD 79.5 million.

• Underlying diluted EPS up 45% to 117.8cps; final fully franked dividend of AUD 0.32 per share, total FY dividend AUD 0.56, up 47% year-over-year.

• Operating cashflow reached AUD 159.7 million, with net cash of AUD 85 million and AUD 19.1 million capex.

Outlook and guidance

• Updated FUA guidance for FY 2027: AUD 148–162 billion, reflecting strong net flow momentum and market growth assumptions.

• Expect continued strong and reliable growth from both existing and new customers, with scalable operations and margin enhancement.

• Positioned to capture further market share in structurally growing markets, supported by ongoing industry transformation and adviser demand.

• FTE expected to grow up to 10% in FY 2026; OpEx growth projected in the mid-teens.

• Revenue margin compression of 0.5–1 basis point anticipated due to competitive dynamics.