Netwealth released their FY23 results yesterday. From their presentation:
I thought this was a pretty solid result with a return to bottom line growth of over 20%. They are taking advantage of a structural shift away from the legacy funds management platforms. Still only a 6.7% market share currently.
Disc: Held IRL. Not held on Strawman.
Netwealth (NWL) released their results for 1H 2023 this morning. From their presentation:
Good to see them back on the growth trajectory after several years of investment into their platform.
Management have stated that they believe the investment phase is over and they should start to see some operating leverage kick in.
First time that they have hit over $100m in revenue in a half. Benefitted from increasing interest rates.
From a market share perspective, they are at about 6.3% of the total market share with plenty still to be gained from the top 4 large institutions.
Full presentation here
Half year report here
Disc: Held IRL, not held on Strawman.