Praemium Ltd. has announced its financial results for the fiscal year ending June 30, 2026, revealing a 5.7% increase in revenue to $110.5 million and a 2.9% rise in underlying profit after tax to $15.4 million. The company also reported a significant 21.1% jump in total funds under administration (FUA) to $77.9 billion, underscoring its growth in the wealth management sector. These results coincide with the successful integration of the OneVue platform, a strategic move aimed at enhancing operational efficiency and market position.
Praemium’s Financial Performance in FY26
The financial year 2026 saw Praemium achieve a revenue of $110.5 million, marking a 5.7% uplift from the previous year. Underlying profit after tax (NPAT) also saw positive movement, growing by 2.9% to $15.4 million. While the statutory net profit experienced a decline of 45.2% to $6.5 million, this was attributed primarily to one-off costs associated with restructuring and acquisition activities.
Offsetting these statutory impacts, underlying Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) demonstrated robust growth, climbing 14.5% to $32.1 million. This expansion was accompanied by an improved EBITDA margin, which reached 29.1%. Praemium also rewarded its shareholders with a final fully franked dividend of 1.25 cents per share, bringing the total dividends for FY26 to 2.5 cents per share.
Key financial highlights for FY26:
- Revenue: $110.5 million (up 5.7%)
- Underlying Profit After Tax (NPAT): $15.4 million (up 2.9%)
- Statutory Net Profit: $6.5 million (down 45.2%)
- Underlying EBITDA: $32.1 million (up 14.5%)
- EBITDA Margin: 29.1%
- Total Funds Under Administration (FUA): $77.9 billion (up 21.1%)
- Final Dividend: 1.25 cents per share (fully franked)
Strategic Initiatives and Platform Integration
A significant development for Praemium in FY26 was the completion of the integration of the OneVue platform in December 2025. This integration is expected to yield substantial benefits, with the company anticipating annual EBITDA synergies of $3 million. The company also reported strong momentum within its high-net-worth (HNW) segment, where platform FUA grew by 10.8%. The non-custodial Scope+ service, a key offering for this segment, experienced even more rapid expansion, with FUA increasing by 30.5% year-on-year.
Further bolstering its technological capabilities, Praemium acquired Technotia Laboratories in January 2026 for $7 million in shares. This acquisition brings in-house crucial machine learning expertise, intended to support the development of a new core technology platform. In line with its strategy to optimize operations and drive efficiency, Praemium also undertook a restructuring of its technology division. This involved closing operations in Armenia and reducing roles within Australia, a move designed to enhance operating leverage from FY27 onwards.
Management Commentary and Future Outlook
Barry Lewin, Praemium’s Chair, reflected on the company’s transformation during his tenure. He expressed his privilege in serving alongside a capable Board and management team, highlighting Praemium’s evolution into a more profitable and strategically focused platform business. Lewin also noted the strength of the company’s foundations and looked forward to a smooth transition under the chairmanship of Matthew, anticipating continued execution of the growth strategy.
Looking ahead, Praemium is poised to leverage ongoing industry growth and its established position in providing comprehensive wealth advice solutions. The company intends to deepen its engagement with the expanding HNW market and continue investing in next-generation platform technology and adviser experience. These investments are aimed at enhancing scalability, introducing new features, and achieving greater cost efficiencies.
Praemium anticipates realizing the full benefits of its recent investments and restructuring initiatives in FY27, which are expected to drive continued financial and operational momentum. The company’s strong balance sheet and commitment to disciplined cost management are seen as key enablers for capturing emerging opportunities within the dynamic wealth platform sector.
Shareholder Value and Market Performance
The company’s financial performance and strategic moves are reflected in its shareholder returns and market standing. Praemium has declared a final fully franked dividend of 1.25 cents per share, contributing to a total of 2.5 cents per share for FY26. This demonstrates a commitment to returning value to shareholders.
In terms of market performance, Praemium shares have experienced a decline of 9% over the past 12 months. This performance trails the broader market, as represented by the All Ordinaries Index (ASX: XAO), which has seen a 1% increase over the same period. Despite this short-term underperformance, the company’s strategic initiatives and financial results suggest a focus on long-term value creation and market positioning.
