HUB24 powers ahead with record FY25 results

HUB24 has unveiled a set of record numbers that underline its momentum as one of the fastest growing players in wealth management technology.

For the twelve months to 30 June 2025 the platform and technology provider posted an underlying group EBITDA of 162.4 million dollars, up thirty eight percent on the prior year. Platform EBITDA climbed thirty nine percent to 142.9 million dollars while its technology solutions arm contributed 27.2 million dollars, up twenty three percent. Statutory net profit after tax came in at 79.5 million dollars, a jump of sixty eight percent, while underlying NPAT hit 97.8 million dollars, a rise of forty four percent.

The directors rewarded shareholders with a fully franked final dividend of 32 cents per share, taking the total payout for the year to 56 cents, up nearly half on last year’s total.

The engine room of the group remains the HUB24 platform, which finished the year with funds under administration of 112.7 billion dollars, a 34 percent increase. Including its portfolio administration and reporting services division, total group FUA now sits at 136.4 billion dollars, with the number nudging 118 billion dollars in platform assets as of mid August.

Net inflows were once again the standout, with a record 19.8 billion dollars of new money finding its way onto the platform, up a quarter on the prior year. That includes four billion dollars from large scale migrations, but the majority was organic, underpinning HUB24’s claim to be the market leader in net inflows for six consecutive quarters. Market share lifted to 8.7 percent by March this year, up from 7.2 percent a year earlier, ranking HUB seventh overall among platforms.

The company has also been busy on the product front. Advisers were given a suite of new tools including expanded cash management options, enhanced reporting through the launch of Engage, and HUB24 Private Invest, a wholesale client solution targeting the high net worth market. A tie up with Reach Alternative Investments has opened access to private markets, while seven new enterprise agreements for the myprosperity client portal expand its footprint in advice networks.

Class and NowInfinity, acquired in prior years, continued to bolster HUB24’s technology credentials. Class reported its largest increase in accounts since 2020, while its SMSF software was named the most feature rich by Investment Trends. NowInfinity was crowned the most used legal document provider for SMSFs and ranked first for innovation.

Costs inevitably rose with the growth story. Operating expenses reached 244.2 million dollars, up 17 percent, reflecting higher variable costs tied to FUA and increased investment in staff and technology. Even so, margins expanded, with underlying EBITDA margin improving to almost 40 percent, up from 36.1 percent in FY24.

Chief executive Andrew Alcock was understandably buoyant, declaring: “Our strong financial performance during FY25 has delivered underlying group EBITDA of 162.4 million dollars and a fully franked final dividend of 32 cents. We are proud to again be recognised as Australia’s best platform and remain committed to empowering better financial futures for more Australians.”

The outlook is equally ambitious. HUB24 has set a target for platform FUA of 148 to 162 billion dollars by FY27, excluding its portfolio services division. That assumes markets remain stable and the inflows momentum continues. Given its consistent record in recent years, few would bet against it.

For now HUB24 finds itself in the enviable position of being both a growth story and a dividend payer, not a combination investors see every day in the wealth platform space. The company is betting that its integrated approach of platform, technology and data solutions will keep it ahead of the pack.

Whether that proves sustainable will depend on its ability to hold onto adviser loyalty and maintain inflows in a competitive environment. But for FY25 at least, HUB24 has shown it can deliver growth, profits and cash to shareholders in equal measure.