Half Year 2026 Praemium Ltd Earnings Call Transcript
Key Points
- Praemium Ltd (ASX:PPS) reported a significant improvement in underlying performance with total revenue from customers increasing by over 5% to $56 million.
- The company's underlying EBITDA for the half year rose to $15.2 million, up from $12.9 million in the first half of FY25, reflecting disciplined cost management.
- Platform net inflows accelerated nearly 100% on flows in 1H25 and over 200% on 2H25, demonstrating strong growth momentum.
- The acquisition of Technosia Labs is expected to enhance Praemium's technology capabilities, offering opportunities for product expansion and efficiency gains.
- Praemium's Spectrum product achieved over $1.4 billion of new business growth inflows since its launch, indicating strong market traction.
- The company experienced gross outflows of $827 million related to exiting advisors, which may impact future revenue growth.
- Portfolio services revenue decreased to $10.2 million from $10.5 million in the last half, reflecting a reduction in scope accounts.
- Operating expenses remained broadly flat at $40.8 million, with higher employment costs due to wage inflation and STI outcomes.
- The integration of Technosia Labs involves execution risks, including the challenge of merging tech teams and retaining key talent.
- Free cash flow for the half year was an outflow of $4.1 million due to elevated one-off investing cash flows, impacting liquidity.
Thank you for standing by and welcome to the premium Limited full year 2025 results presentation. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. If you wish to ask a question, you will need to press the star key followed by the number 1 on your telephone keypad. I would now like to hand the conference over to Mr. Anthony Wamstecker, Chief Executive Officer. Please go ahead.
Thank you very much.
Thank you everyone for joining us and for your interest in premium. It's good to see so many people on the call, and I'm delighted to be presenting our half-year results with the CFO Emma Stepsy.
I'd like to begin by acknowledging the traditional custodians of country and pay my respect to their elders past and present.
I draw your attention to the disclaimer, which is on the, I won't go through it all, but it's on the slides on the ASX release.
So, today we're going to go through, the
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