Praemium (PPS) Q1 2025 earnings summary

Executive summary

• Spectrum platform launched, rebranding from IDPS, with strong early client uptake and positive market reception.

• Continued focus on high net worth clients, service excellence, and operational transformation, including unified service teams under Customer Experience.

• OneVue integration progressing on track, with enhanced superannuation services and new money movement functionality.

• All major growth metrics improved sequentially, with total FUA reaching a record $59.4 billion, up 33% year-over-year.

Financial highlights

• Total FUA reached $59.4b at Q1 FY25, up from $57.4b in June 2024, a 33% year-over-year increase.

• Platform FUA grew to $29.0b, up 3% from June 2024 and 30% year-over-year.

• Net inflows for the quarter were $139m, reversing a $414m net outflow in the previous quarter.

• SMA FUA at $11.9b, up 5% quarter-on-quarter and 22% year-over-year; Powerwrap at $12.9b, up 2% quarter-on-quarter and 3% year-over-year; OneVue at $4.2b, up 4% quarter-on-quarter.

• Scope+ FUA increased 4% to $30.4b, with five new client groups added.

Outlook and guidance

• Expectation of continued strong growth, especially with Spectrum's launch and strong client additions.

• Departed advisor outflows expected to persist for one more quarter at about $250m, then likely to subside.

• Further updates on Scope and Scope Plus repricing to be provided at H1 FY25 results.

• Continued focus on operational transformation, service enhancements, and integration of acquisitions.