Praemium (ASX:PPS) Approaches FY26 Results With Funds Growth and Margin Focus

Aditi Sarkar

19 August 2026 08:59 PM AEST

Praemium (ASX:PPS) Approaches FY26 Results With Funds Growth and Margin Focus

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Praemium (ASX:PPS) reported record funds under administration of A$77.9 billion in its June FY26 update.
FY26 net inflows reached A$1.9 billion despite outflows linked to the acquired OneVue platform.
Scope+ funds under administration increased 30.5% to A$43.9 billion.
The company is preparing to release audited FY26 results with focus on Revenue conversion and margins.

Praemium (ASX:PPS) is approaching its FY26 results following record funds under administration growth, improving net flows and continued expansion of its Wealth platform services. The company’s upcoming results will provide further insight into Earnings conversion, platform mix and Margin performance.

What happened

Praemium’s most recent market update was its June FY26 Quarterly Report released on 22 July 2026.

The company reported group funds under administration (FUA) of A$77.9 billion, representing growth of 21.1% year on year and a record level.

The growth was driven by both custodial and non-custodial platforms. Custodial platform FUA increased 10.8% to A$34.0 billion, while non-custodial Scope+ FUA increased 30.5% to A$43.9 billion across 12,793 portfolios.

Praemium reported FY26 net inflows of A$1.9 billion, after absorbing approximately A$522 million of outflows associated with advisers departing the acquired OneVue platform.

Within the custodial platform, separately managed accounts and Powerwrap each represented approximately A$14.1 billion as at March 2026, while Spectrum reached approximately A$4.0 billion.

In January 2026, Praemium acquired Technotia Laboratories for approximately A$7.5 million in shares. The company expects the Acquisition to support operational improvements, including targeted net salary savings.

The numbers investors need to know

The latest full financial disclosure covers the six months ended December 2025.

Praemium reported revenue of A$56.0 million and underlying Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of A$15.2 million, representing an underlying EBITDA margin of 27.1%.

The company’s FUA growth remains a key operating metric, but platform mix is important because non-custodial services typically generate different revenue characteristics compared with custodial administration.

Praemium’s A$77.9 billion FUA remains smaller than larger Australian wealth platform operators, with scale continuing to influence platform economics.

The company expects approximately A$9 million of net salary savings from the Technotia transaction, which represents a potential margin improvement opportunity.

The A$522 million of OneVue-related outflows remains an important Factor when assessing underlying platform retention and flow trends.

Business outlook and key considerations

Praemium’s FY26 results will provide further visibility on revenue growth, EBITDA margin performance, cost savings and platform economics.

Key areas to monitor include conversion of FUA growth into revenue, custodial versus non-custodial asset mix, adviser flows, Technotia integration and FY27 strategy.

The company continues operating in a competitive wealth platform market where scale, adviser relationships and pricing remain important factors.

Bull case

Praemium has continued expanding its platform assets, with FUA growth above 20% and positive net inflows during FY26.

Scope+ has been a major growth contributor, with FUA increasing 30.5% during the year. The platform provides a capital-light administration model that can support growth without the same asset custody requirements.

The company’s underlying EBITDA margin of 27.1% and identified Technotia cost savings provide potential Operating Leverage as platform Assets increase.

Bear case and risks

Praemium remains smaller than some major wealth platform competitors, creating challenges around scale and pricing power.

The faster growth of non-custodial Scope+ compared with custodial assets may reduce overall revenue Yield if asset growth does not translate proportionally into revenue.

The company continues managing adviser outflows linked to OneVue, while platform businesses remain exposed to market movements affecting administered asset values.

Additional risks include integration execution, fee pressure, competition and maintaining adviser relationships.

What comes next

The key milestone is Praemium’s audited FY26 result, expected in the second half of August 2026.

Investors will monitor revenue growth, underlying EBITDA margin, Dividend policy, FY27 commentary and the impact of Technotia cost savings.

Further updates will come from September-quarter FUA and flow data, including whether net inflows continue after OneVue-related outflows.

Conclusion

Praemium (ASX:PPS) enters its FY26 results period with record funds under administration, positive net flows and continued platform expansion.

The company’s next challenge is demonstrating that asset growth can translate into sustainable earnings growth while managing platform mix and competitive pressures. The audited FY26 results will provide further clarity on margins, revenue conversion and future growth expectations.

FAQs

Q: What does Praemium do?

A:Praemium operates wealth administration platforms for advisers and investment professionals.

Q: What was Praemium’s FY26 funds under administration?

A:Praemium reported funds under administration of A$77.9 billion in its June FY26 update.

Q: What is Scope+?

A:Scope+ is Praemium’s non-custodial administration service for assets held outside the platform.

Q: How much were Praemium’s FY26 net inflows?

A:Praemium reported FY26 net inflows of A$1.9 billion.

Q: What is the next major Praemium update?

A:The next major update is the audited FY26 financial result.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.