Sydney, Feb 19, 2026, 17:56 AEDT — After the bell
HUB24 Ltd (HUB.AX) surged 14.2% to A$98.45 on Thursday, grabbing a spot among the top blue-chip movers after earnings drew in buyers. The S&P/ASX 200 settled 0.88% higher.
This shift is significant: investors have zeroed in on reporting-season figures to sift out actual flow gains from mere asset price inflation. Platform operators boil it down to a simple equation—how much advisers are channeling onto the platform, and, crucially, what portion translates into profit before expenses surge.
On Thursday, HUB24 bumped up its FY27 platform funds-under-administration goal to A$160 billion–A$170 billion, up from the previous A$148 billion–A$162 billion range. “Outstanding results” in the half, managing director Andrew Alcock said, as the group reported what it described as record net inflows and signaled a bigger interim dividend.
HUB24 reported a 26% jump in operating revenue to A$245.9 million in its latest investor presentation, as operating expenses climbed 20% to A$141.0 million, driven by heavier spending on technology and operations. Underlying EBITDA hit A$104.9 million, up 35%, which pushed the underlying EBITDA margin up to 42.7% from 39.8%.
The company said its platform business brought in a record A$10.7 billion in net inflows for the half year, lifting platform FUA to A$127.9 billion as of Dec. 31, 2025. Total FUA reached A$152.3 billion, with A$24.4 billion attributed to PARS, its Portfolio Administration & Reporting Services arm that handles non-custody portfolios.
HUB24 announced an interim dividend of 36 Australian cents per share, fully franked, passing on tax credits from taxes already paid by the company. Shares go ex-dividend March 16, with March 17 as the record date. Payment is scheduled for April 21, as outlined in the dividend notice.
Still, there are some strings attached to both the upgraded target and the jump in the stock. HUB24 made it clear that its growth forecast hinges on “consistent and stable investment markets” and certain business terms that have the potential to sway platform FUA and revenue. The company also pointed out a wide spectrum of risks—operational, cyber, compliance, and conduct all made the list.
Investors are now eyeing the March ex-dividend date and HUB24’s Q3 FY26 market update slated for April 21, hoping for a clearer sense of post-report flows. The full-year FY26 numbers land on Aug. 18.
