HUB24 Limited reported full-year FY26 results that demonstrate sustained momentum in Australia’s wealth management platform sector. The ASX-listed company delivered total revenue of $501.1 million, with underlying earnings before interest, tax, depreciation and amortisation reaching $211.4 million and underlying net profit after tax of $137.3 million. Most importantly, the underlying EBITDA margin expanded 230 basis points to 42.2%, signalling that HUB24’s operating model is becoming increasingly efficient even as the company scales its operations across its customer base.
The Platform segment continues to drive the company’s growth trajectory, generating $406.9 million in revenue with 26% growth year-on-year. Net inflows into the Platform totalled $18.9 billion, representing a record performance when excluding large migrations from the prior year. This outcome reflects both strong adviser demand and client engagement with HUB24’s innovative solutions and market-leading technology. The Platform’s funds under administration grew 24% to $139.5 billion, while the company added 630 active advisers to reach 5,649. Tech Solutions revenue grew 9% to $84.0 million, indicating that diversification beyond the core Platform business is gaining traction and contributing meaningfully to overall group revenue growth.
The dividend story reinforces investor confidence in HUB24’s trajectory and management’s conviction about future earnings. Management lifted the final dividend to 42.0 cents per share, fully franked, bringing the full-year dividend to 78.0 cents, representing a 39% increase from FY25. This substantial distribution signals management’s confidence in the company’s cash generation capability and its ability to return capital to shareholders while maintaining adequate investment capacity for future growth. Franked dividends hold particular appeal for Australian investors, enhancing the after-tax return profile.
The margin expansion during a high-growth phase is particularly noteworthy as it reflects the operational leverage inherent in platform business models. HUB24 is harvesting benefits from automation, technology efficiencies and disciplined expense management, meaning that incremental revenue growth increasingly flows through to the bottom line. This operating leverage could be particularly attractive to investors seeking earnings leverage from a company positioned to benefit from structural tailwinds in Australian wealth management.
Looking ahead, investors should monitor Platform net inflows, active adviser growth and the sustainability of margin expansion amid market volatility. Australia’s wealth management platform industry continues to benefit from demographic trends, mandated superannuation, and regulatory momentum toward platform-based solutions. HUB24’s position as a market leader appears entrenched, though competitive dynamics and macro headwinds warrant attention as the company pursues its strategic objectives. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About HUB24 Limited (ASX: HUB)
HUB24 Limited is an Australia-based provider of investment and superannuation platform services for financial advisers, stockbrokers, accountants and their clients. The company operates through its Platform segment, which offers integrated portfolio administration and investment management services, and its Tech Solutions segment, which provides cloud-based wealth accounting software and technology solutions. The company is headquartered in Sydney, Australia.
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