Praemium (PPS) Q2 2025 earnings summary

Executive summary

• Total funds under administration (FUA) reached a record $62.1 billion, up 29% year-over-year, with platform FUA at $30.2 billion, up 4% quarter-over-quarter and 32% year-over-year.

• Spectrum, a new platform targeting high net worth advisers, launched with $69–$72 million in inflows since inception and a strong sales pipeline, mainly from existing clients.

• Integration of OneVue acquisition advanced, contributing $4.1–$4.2 billion in FUA and supporting future growth.

• Enhanced superannuation services and implemented pricing changes for SMA and Super from April 2024.

• Management is focused on reaching the next milestone of $100 billion in FUA.

Financial highlights

• Net inflows for the quarter were $371 million, up $232 million from the previous quarter.

• SMA achieved $261 million in net inflows, the best result in nine quarters, and FUA grew to $12.5 billion.

• Powerwrap posted $78 million in net inflows after reversing previous outflows, with FUA at $13.5 billion.

• OneVue remained stable at $4.2 billion FUA, with net outflows of $37 million.

• Non-custodial Scope+ FUA reached a record $31.9 billion, up 5% sequentially and 26% year-over-year.

Outlook and guidance

• Strong sales pipeline for Spectrum, with Euroz Hartleys expected to contribute in future quarters.

• Adviser transitions at Powerwrap are expected to drive $150–$200 million in gross outflows per quarter for at least one more quarter.

• Continued focus on operational transformation, adviser onboarding, and service enhancements.

• OneVue integration progressing as planned, supporting future growth.

• Management aims to reach $100 billion in FUA.