• FUA net flows of $3.5B for the quarter, a 29% increase over the prior corresponding period
• Total FUA of $104.1B, an increase of $2.5B during the quarter
• Highly recurring and diversified revenue providing stability and resilience in volatile markets

Netwealth Group Limited (Netwealth), a leading Australian wealth management and technology company, has provided a business update for the March 2025 quarter. The company reported Funds Under Administration (FUA) net flows of $3.5B for the quarter, a 29% increase over the prior corresponding period (PCP), and a new third-quarter record. Total FUA net flows for the financial year to date (FYTD) reached $12.0B, a 61% increase over PCP, and $15.8B for the last 12 months, a 49% increase over PCP. Total FUA at 31 March 2025 stood at $104.1B, an increase of $2.5B during the quarter, including $3.5B of FUA net flows and $1.0B of negative market movement. The total number of accounts increased by 4,301 for the quarter to 155,738 at 31 March 2025, a 13% increase over the preceding 12 months. Netwealth's revenue remains stable, attributed to its high levels of recurring revenue, the diversified nature of its revenue sources, and portfolio diversification across various asset classes and asset types. Funds Under Management (FUM) net flows of $1.0B for the quarter were 51% higher than PCP, with FUM increasing to $24.8B. Managed Account net flows of $0.9B were 42% higher than PCP, with a closing balance of $21.4B. The Netwealth cash transaction account balance averaged 5.6% of custodial FUA over the quarter and closed at 5.8%, increasing further in the first weeks of April.

Netwealth expects its FUA net flows to be seasonally strong in the June quarter, and remains confident in its net flows outlook for FY26 and beyond, supported by a robust transition pipeline and new client wins. The company will continue to invest in its people, products, security, and technology capabilities, with increased headcount growth and operational expenses in 2H25 compared to 1H25.

Netwealth remains in a strong financial position, with high profitability, strong EBITDA margin, high correlation between EBITDA and operating cashflow, and very high levels of predictable, recurring, and diversified revenue. The company is well-positioned to capitalize on both existing and emerging market opportunities, and to drive sustainable profit growth and innovation.