HUB24 (ASX:HUB): Record Platform Inflows Drive Earnings Growth

Aditi Sarkar

12 October 2026 10:03 PM AEDT

HUB24 (ASX:HUB): Record Platform Inflows Drive Earnings Growth

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A record wave of adviser money is powering another year of growth for Investment platform provider HUB24. HUB24 (ASX:HUB) attracted A$18.9 billion in platform net inflows during FY26 and lifted Revenue to A$501.1 million, with expanding scale and recurring software operations supporting its Earnings momentum.

Reported FY26 results

The results were published on the ASX on 18 August 2026. Group underlying EBITDA rose 30% to A$211.4 million, lifting the Margin to 42.2% from 39.9% a year earlier. Underlying net profit after tax was A$137.3 million, up 40%, while statutory net profit after tax was A$120.2 million, up 51%. Underlying Diluted Earnings per Share were 167 cents, up 42%.

Operating expenses rose 19% to A$289.7 million, below the pace of revenue growth. That gap is the main reason margins widened. HUB24 attributes the cost growth to investment in scale and growth.

What drives the revenue

HUB24 reports two segments. The Platform business, which generated A$406.9 million of revenue (up 26%), earns fees on funds administered for advisers and their clients. Revenue therefore moves with two things: new money flowing in and the Market Value of existing balances. Platform underlying EBITDA was A$186.7 million, up 31%.

Tech Solutions, which includes the Class and NowInfinity software businesses, contributed A$84.0 million of revenue (up 9%) and A$29.3 million of underlying EBITDA (up 8%). It is the smaller and slower-growing segment, but it adds a recurring software element to the group.

Funds under administration (FUA) are the central operating measure. Platform FUA reached A$139.5 billion at 30 June 2026, up 24% on a year earlier. Including the PARS business, which sits outside the core platform, total FUA was A$164.3 billion, up 20%. Platform FUA was A$144.1 billion at 13 August 2026, according to the results release.

Inflows: strong year, steadier finish

The A$18.9 billion of platform net inflows compares with A$15.8 billion in FY25 once large migrations are excluded, a rise of 20%. FY25 also included A$4.0 billion of large migrations, whereas FY26 had none, which makes the underlying comparison the more useful one.

The quarterly pattern is less uniform than the annual total suggests..2 billion in the September quarter and A$5.6 billion in the December quarter. They then eased to A$4.0 billion in the March quarter and A$4.2 billion in the June quarter. The June quarter figure was 21% lower than the prior-year quarter, which included A$1.2 billion of large migrations; excluding those, HUB24 described it as stable.

Gross inflows were A$9.2 billion in the June quarter, up 4% on the prior-year period.

Competitive position

HUB24 said its platform Market Share was 9.9% at 31 March 2026, up from 8.6% a year earlier, the largest annual gain among platform providers. It moved up to sixth largest by FUA from seventh.

FAQs

Q: What is the main development for HUB24?

A: The results were published on the ASX on 18 August 2026.

Q: Which operating factors matter for HUB24?

A: HUB24 reports two segments.

Q: What should investors monitor next?

A: The next company update will show how its stated plans and operating performance develop.

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