Praemium (PPS) Q3 2025 earnings summary

Executive summary

• Total funds under administration (FUA) reached $62.3 billion, up 17% year-over-year to 31 March 2025, with platform FUA at $30.1 billion and strong Spectrum adoption.

• Completed significant progress on the OneVue integration, focusing on seamless platform experience, meeting internal timelines and budgets, and ongoing improvements in service standards and adviser onboarding.

• Launched Spectrum, the new flagship product, which generated strong interest, $440 million in net inflows for the quarter, and FUA of $513 million, up 615% compared to December 2024.

• Enhanced service excellence initiatives, including improved advisor onboarding, AI-driven quality assurance, and higher client engagement standards.

• Maintained a disciplined approach to inorganic growth while prioritizing organic integration and operational improvements.

Financial highlights

• Platform FUA at $30.1 billion, with net inflows of $364 million for the quarter, and Spectrum FUA at $513 million.

• SMA FUA at $12.3 billion with $120 million net inflows; Powerwrap at $13.3 billion with $66 million net outflows; OneVue at $4.0 billion with $130 million net outflows.

• Scope+ FUA reached $32.3 billion, up 11% year-over-year.

• Negative market movement of $451 million impacted Platform FUA, representing -1.5% of value.

• Cash management account holdings: SMA $697 million (5.6% of FUA), Powerwrap $496 million (3.7%), OneVue $406 million (10.2%).

Outlook and guidance

• Expect continued migration of OneVue clients, with FUA likely to settle near $3 billion as the platform is closed by September and technology transition on track for completion by fiscal year-end.

• Anticipate ongoing market share gains from legacy platforms, supported by a complete product suite and high functionality/service scores.

• Strong pipeline for Spectrum and Scope+ expected to support further growth in 2025.

• Revenue margin on Spectrum expected to decrease slightly due to higher average account sizes, but overall revenue dollars projected to increase.

• Focus remains on disciplined inorganic growth and vigilance for new opportunities.