Praemium (PPS) H1 2026 earnings summary

Executive summary

• Revenue from customers reached $56.0 million, up 7.9% year-over-year, with platform revenue up 10.5% and now 82% of total revenue following acquisitions and Spectrum launch.

• Underlying EBITDA rose 17.9% to $15.2 million, with margin increasing to 27.1%.

• Net profit after tax increased 69.5% to $9.86 million compared to 1H25.

• Custodial and non-custodial FUA grew 13.7% to $70.5 billion, with Spectrum contributing $3.6 billion in FUA and $1.4 billion in gross inflows since launch.

• Declared a fully franked interim dividend of 1.25 cents per share ($6.1 million).

Financial highlights

• Platform FUA grew 8.1% year-over-year to $32.5 billion, with net inflows of $1.01 billion and positive market movements contributing $852 million.

• Scope+ FUA reached $37.9 billion, up 18.9% year-over-year, with nine new advice groups onboarded.

• Alternative assets FUA rose 29% from 2H25, now 14% of total FUA.

• Operating expenses remained flat at $40.8 million, with $1.6 million in cost synergies realized from OneVue.

• Operating cash flow increased 24.0% to $6.5 million, while free cash flow was impacted by one-off integration and restructuring costs.

Outlook and guidance

• Focus on realizing synergies from OneVue and Technotia acquisitions, with $3 million EBITDA uplift expected in FY27.

• Organisational restructure, including a 28% headcount reduction and closure of Armenia operations, is anticipated to reduce annual technology salary costs by $9.0 million.

• Ongoing investment in AI-driven financial services through Technotia aims to enhance platform capabilities and competitive differentiation.

• Strong sales pipeline and continued growth in Spectrum and Scope+ expected to drive future earnings and cash flow.

• Positioned to scale with growing HNW investor base and increasing complexity in portfolios.