This ASX Growth Stock Has Tripled Profit in Three Years

This ASX Growth Stock Has Tripled Profit in Three Years — And It’s Still Expanding

Aditi Sarkar

08 May 2026 08:43 PM AEST

This ASX Growth Stock Has Tripled Profit in Three Years — And It’s Still Expanding

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Key Highlights

HUB24 Limited (ASX:HUB) reported Platform net inflows of AUD 4.0 billion in Q3 FY26.
• Total Funds Under Administration reached AUD 151.7 billion as at 31 March 2026.
• Revenue increased to AUD 406.57 million while net profit rose to AUD 79.48 million.
• HUB24 ranked first for quarterly and annual net inflows for a ninth consecutive quarter.
• The company continued expanding adviser numbers, platform capabilities, and digital offerings.

HUB24 Limited (ASX:HUB) has increasingly positioned itself among the ASX’s closely watched financial technology growth companies as rising platform inflows, expanding funds under administration, and steady Earnings growth continue reshaping its scale within Australia’s Wealth Management sector.

While broader market Volatility has pressured many growth-oriented companies in recent months, HUB24 has continued reporting rising customer activity, adviser adoption, and platform expansion, reinforcing the company’s long-term structural growth narrative.

The company’s latest quarterly update highlighted ongoing momentum across its platform operations, with HUB24 continuing to gain Market Share in Australia’s competitive Investment platform industry.

Platform Inflows Continue Expanding

HUB24 delivered Platform net inflows of AUD 4.0 billion during Q3 FY26, representing a 9% increase on the prior corresponding period excluding large migrations.

Total Funds Under Administration (FUA) reached AUD 151.7 billion as at 31 March 2026, increasing 22% year-on-year. This included Platform FUA of AUD 127.8 billion, up 25% on the prior corresponding period, alongside Portfolio, Administration and Reporting Services (PARS) FUA of AUD 23.9 billion, up 11%.

The company noted that strong inflows were partially offset by negative market movements totalling AUD 4.1 billion during the quarter.

Despite market volatility, HUB24 maintained its ranking as the top platform provider for both quarterly and annual net inflows for a ninth consecutive quarter, according to the latest available Plan for Life industry data.

The company also increased market share to 9.7% as at 31 December 2025, up from 8.3% a year earlier.

Growth Metrics Continue Climbing

The latest operating metrics continued reflecting broad-based growth across HUB24’s ecosystem.

During the quarter, the company signed 37 new licensee agreements while adviser numbers using the platform increased by 272 to 5,549, representing an 11% increase year-on-year.

Across its Class software Business, the number of accounts reached 222,469 as at 31 March 2026, while document orders on NowInfinity increased 17% year-on-year to 239,551.

The number of companies using Corporate Messenger rose to 924,351 during the quarter, representing an 11% increase from the prior corresponding period.

These metrics continue highlighting the company’s ability to scale multiple Recurring Revenue streams simultaneously across platform, software, and compliance solutions.

Revenue and Profit Continue Expanding

HUB24’s financial performance over recent years has also reflected the company’s expansion trajectory.

Revenue increased from AUD 191.40 million in FY22 to AUD 406.57 million in FY25, while net profit rose from AUD 14.66 million to AUD 79.48 million over the same period.

Dividend growth has also accelerated steadily, rising from AUD 0.185 in April 2024 to AUD 0.360 by April 2026.

The company currently trades with a Market Capitalisation of approximately AUD 6.9 billion and a price-to-earnings ratio of 65.72, reflecting the premium valuations often attached to higher-growth platform and technology businesses.

Industry Recognition Supports Market Position

HUB24 continued receiving industry recognition across platform functionality and adviser satisfaction metrics.

In the 2025 Investment Trends Platform Competitive Analysis and Benchmarking Report, HUB24 was awarded Best Platform Overall for the fourth consecutive year.

The company also secured recognition for managed accounts functionality, product offering, decision support tools, reporting capabilities, and online business management.

Additionally, HUB24 ranked first for overall satisfaction in the 2026 Investment Trends Managed Accounts Report.

Management stated that ongoing investment in digital capability remains central to the company’s strategy, particularly as advisers increasingly seek automation, reporting efficiency, and integrated wealth management solutions.

Strategic Expansion Continues

The company also exercised its Call Option to acquire HTFS Nominees Pty Limited, the current Trustee for the HUB24 super fund.

The Acquisition forms part of HUB24’s broader strategy to internalise the trustee role within the group structure. Completion remains subject to regulatory approvals and is expected before the end of 2026.

Management stated that the integration is not expected to have a material financial impact on EBITDA from FY27 onward.

Meanwhile, HUB24 continued enhancing its high-net-worth and managed portfolio capabilities through expanded managed fund clearing functionality and integration with third-party Rebalancing tools.

Structural Trends Continue Supporting Growth

HUB24 operates within sectors benefiting from several long-term structural drivers, including compulsory Superannuation, demographic shifts, growing adviser Demand for integrated platforms, and increasing digitisation across wealth management services.

The company stated that its pipeline remains supported by opportunities from both new and existing adviser relationships.

While growth-focused companies can remain sensitive to broader market sentiment and valuation pressures, HUB24’s expanding scale, recurring revenue base, and rising market share continue positioning the business as one of the more closely followed platform growth stories on the ASX.

About the Company

HUB24 Limited (ASX:HUB) is an ASX-listed financial services and technology company operating wealth management platforms, cloud-based accounting software, compliance solutions, and client portal technology through brands including HUB24 Platform, Class, NowInfinity, and myprosperity.

FAQs

Q: Why is HUB24 (ASX:HUB) considered a growth stock?

A: HUB24 is often viewed as a growth-oriented company because of its expanding platform inflows, rising funds under administration, increasing market share, and consistent revenue and profit growth over recent years.

Q: What were HUB24’s latest platform inflows?

A: HUB24 reported Platform net inflows of AUD 4.0 billion during Q3 FY26, with total Funds Under Administration reaching AUD 151.7 billion as at 31 March 2026.

Q: What businesses operate under HUB24 Limited?

A: HUB24 operates several financial technology and wealth management businesses, including the HUB24 Platform, Class, NowInfinity, and myprosperity, providing platform, accounting, compliance, and client portal solutions.

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