HUB24 Limited (ASX: HUB)
HUB24 Limited (ASX: HUB) delivered record-breaking growth in Q2 FY25, with platform Funds Under Administration (FUA) increasing 8% over the quarter to $98.9 billion, up 36% year-on-year. Total FUA, including Portfolio, Administration, and Reporting Services (PARS), reached $120.9 billion as of 31 December 2024, a 33% increase compared to the prior corresponding period (pcp). Platform net inflows for the quarter reached $5.5 billion, up 23% on pcp, driven by $1.5 billion in migrations from Equity Trustees (EQT) and a robust $4.0 billion in organic inflows, up 47% on pcp. For 1HFY25, net inflows totalled $9.5 billion, marking a 31% increase on pcp. The company continues to gain market share, climbing to 7.9% (from 6.6% as of 30 September 2023), securing its position as the top platform for quarterly and annual net inflows. HUB24 also signed 40 new distribution agreements and increased the number of advisers using its platform by 166 to 4,886, up 14% on pcp. Strategically, HUB24 was selected as the successor fund for ClearView Wealth Foundations, with plans to migrate up to $1.3 billion of FUA to its Discover platform in 2HFY25. Progress on the EQT migrations remains strong, with $4.1 billion transitioned to date, and the remaining $0.9 billion expected by the end of FY25. However, the company announced the closure of Xplore Wealth MDA services by March 2026, which could result in potential outflows from the approximately $2 billion FUA within this segment.
HUB24’s innovation pipeline remains robust, with the pilot launch of "Engage," an advanced reporting solution enhancing adviser productivity and client experience. These developments underpin HUB24’s confidence in achieving its FY26 platform FUA target of $115–$123 billion. Overall, HUB24's strong net inflows, market leadership, and innovative offerings position it well for continued growth. Despite potential risks from the Xplore Wealth transition, HUB24’s momentum and execution track record highlight its ability to capitalize on opportunities and deliver shareholder value.
LIFE360 Inc (ASX: 360)
LIFE360 Inc (ASX: 360) delivered a standout Q3 2024, achieving record U.S. back-to-school metrics, including a 32% YoY growth in monthly active users (MAUs) to 76.9 million and a 35% YoY increase in Paying Circles, adding 159k new subscriptions—a quarterly record. International expansion gained momentum, with international MAUs rising 51% YoY and Paying Circles up 37% YoY, despite pricing adjustments in legacy markets. Core subscription revenue grew 34% YoY to $66.2 million, contributing to total subscription revenue of $71.8 million (+27% YoY). This was driven by improved ARPPC, up 6% YoY, due to a favourable product mix shift in the U.S. and new Triple Tier memberships in the UK and ANZ.
The newly launched Tile lineup, designed in-house, has proven instrumental as a customer acquisition tool. Despite temporary supply chain disruptions, direct-to-consumer Tile sales more than doubled during the initial six weeks post-launch. Life360 is optimistic about further hardware-led subscription growth, supported by upcoming GPS-enabled devices targeting the pet and elder care segments in 2025 and 2026. Advertising efforts, bolstered by a partnership with Uber, demonstrated the potential of Life360’s unique first-party location data. Early results from airport landing notifications significantly outperformed industry benchmarks, highlighting the viability of monetizing user signals. Additionally, the data business resumed growth, supported by an exclusive collaboration with Placer.ai.
Financially, Life360 achieved its eighth consecutive quarter of positive Adjusted EBITDA, which grew 64% YoY to $9.0 million, and posted a net income of $7.7 million. Year-to-date revenue reached $256 million (+18% YoY), with operating expenses rising 10% YoY, demonstrating strong operating leverage. The company raised its full-year 2024 guidance to $368–$374 million in revenue, core subscription growth of 25%+, and Adjusted EBITDA of $39–$42 million, with a year-end cash balance of $150–$160 million. With a focus on sustained profitability and international growth, Life360 is positioned to drive long-term shareholder value.
Source: Company’s Report
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