The Hub24 Ltd (ASX: HUB) share price is in focus after revealing the FY26 third-quarter update.
Hub24 offers a platform that provides advisers and clients with a large range of investment options, as well as enhanced transaction and reporting functionality. It also has a wealth accounting software offering called Class.
FY26 third-quarter update
The business said that it saw platform net inflows of $4 billion (which was up 9% year on year excluding large migrations) during the three months to 31 March 2026.
Hub24 said the net inflows were a result of strong year on year growth of retail net inflows, though institutional flows were impacted by one-off outflows from an institutional client in March.
Total funds under administration (FUA) reached $151.7 billion as at 31 March 2026, representing growth of 22% year on year. That included platform FUA of $127.8 billion (up 25% year on year) and portfolio, administration and reporting services (PARS) FUA growth of 11% to $23.9 billion.
Hub24 noted that its platform ranked first for quarterly and annual net inflows. The company also highlighted that during the quarter, 37 new licensee agreements were signed and the total number of advisers using the platform increased by 272 to 5,549 (up 11% year on year).
The company boasted that it achieved the largest quarterly and annual market share gains of all platform providers, increasing its market share to 9.7% as at 31 December 2025. It’s now the sixth-largest platform by FUA.
Final thoughts on the Hub24 share price
The company said that in the context of market volatility, it remains “resilient with ongoing momentum” in net inflows, which reflects its “innovative market-leading products and solutions, customer service excellence and the strength” of its relationships.
The company also noted that it’s operating in structurally growing markets, driven by demographic trends, compulsory superannuation, and a strong pipeline of opportunities from now and existing relationships. Management believe the company “well positioned for sustained growth”.
The business is clearly doing well to continue growing the fastest and increase its market share. There’s still plenty of market share it can claim, so it probably has a long growth runway.
However, it’s not one of the ASX growth shares I’m looking to buy because there is plenty of competition in the space and it’s already priced for a lot of success.
