Raiz delivers 21.4% revenue growth in FY26 as EBITDA nearly doubles
Raiz Invest recorded total revenue of $29.2m for the full year ended 30 June 2026 (FY26), up 21.4% on the prior year, as the fintech platform reported to the market on 27 August 2026. The result reflected growth across the company’s key operating metrics, from active customers through to funds under management.
The top-line growth flowed through to profitability, with underlying EBITDA rising 92.8% to $5.5m and statutory net profit after tax reaching $3.5m, a turnaround from a $0.4m loss in FY25. Raiz ended the period with a cash balance of $15.4m.
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FY26 results at a glance
The table below summarises the group’s headline financial metrics for FY26 against the prior corresponding period.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue | $29.2m | $24.1m | +21.4% |
| Underlying EBITDA | $5.5m | $2.8m | +92.8% |
| UEBITDA Margin | 18.7% | 11.8% | +6.9pp |
| Statutory NPAT | $3.5m | -$0.4m | +$3.9m |
| Cash | $15.4m | $13.0m | +18.5% |
Customer growth and record funds under management
Revenue growth was underpinned by expansion across the platform’s core operating metrics during the year. The company reported the following key drivers:
- Active Customers: 351,362 (+6.7%)
- ARPU: $85.87 (+13.5%), driven by a focus on higher-revenue products and the August 2025 fee increase, which accompanied the launch of new products and features
- FUM: $2.32bn (+27.5%), supported by net inflows of $219m and positive market movements
The lift in average revenue per user (ARPU), a measure of how much revenue each fee-paying customer generates, was a notable contributor alongside customer additions.
Product-level FUM momentum
Funds under management growth was broad-based across the product suite. Super FUM increased 27.9% to $496m, Raiz Plus FUM rose 42.9% to $424m, and Kids FUM climbed 54.4% to $123m.
Average customer balances grew 19.5% to $6,609, supported by steady recurring deposits maintained through the market cycle. The diversified growth across products and the rising ARPU point to customers adopting multiple, higher-value offerings.
Margin expansion demonstrates operating leverage
The near-doubling of underlying EBITDA was achieved while operating costs rose at a more modest pace. Underlying operating expenses increased 11.9% to $23.8m, lifting the underlying EBITDA margin to 18.7%, up 6.9 percentage points on FY25.
The Raiz 1H FY26 profitability milestone, reported in February 2026, established the foundation for the full-year result, with revenue growing 23.9% while costs rose just 8% in the first half, creating the operating leverage that continued through the second half.
Cost growth reflected new senior management hires and increased headcount across product development, technology, compliance and data functions, alongside investment in customer engagement capability. Raiz also incurred non-recurring expenses of $1.3m relating to corporate advisory options issued and CEO transition costs.
Investors should note that the $3.5m statutory NPAT includes a tax benefit of $3.2m from the recognition of a deferred tax asset in respect of prior year tax, as reported in the 1HFY26 results. The reported profit is therefore not purely operational in nature.
Cash position strengthens
Operating cash flow rose 30% to $5.1m, supporting free cash flow of $2.7m. The cash balance increased to $15.4m at the balance date, from $13.0m in FY25.
What “operating leverage” means for a fintech platform
Raiz’s FY26 result illustrates this dynamic in action. Revenue rose 21.4% while operating expenses increased just 11.9%, driving the underlying EBITDA margin from 11.8% to 18.7%.
Product innovation and customer engagement
Raiz continued to strengthen engagement through new product launches and rising multi-product adoption during the year. Key FY26 highlights included:
- Raiz Lite — a low-cost entry plan for first-time investors, launched in Q1 FY26
- Raiz Academy — an online education platform designed to boost financial literacy and consumer confidence, launched in Q1 FY26
- Multi-product adoption — Kids Portfolios up 26.2%, Plus Portfolios up 19.5%, and Super Customers up 13.1%
The company’s product suite received recognition from WeMoney, including Best for Round-Up Investing and Best for Kids Investing, along with two Superannuation Awards for Digital Innovation of the Year and Excellent Rates & Fees. This growing product breadth deepens engagement and supports ARPU.
Transformation Program to accelerate growth into FY27
Raiz noted that its strategic objectives remain unchanged under new leadership, with a targeted Transformation Program now aimed at accelerating their execution. The four core elements of the programme are:
- Customer acquisition, conversion and lifetime value
- Brand evolution and market positioning
- AI-enabled customer engagement
- Broader wealth platform enablement
The product development pipeline is focused on US-listed equities and ETFs, while direct ASX trading remains a priority and is scheduled for delivery in FY27. The company also noted it continues to explore selective M&A opportunities that “accelerate distribution or enhance our product suite.”
CEO Craig Keary on the road ahead
Chief Executive Officer Craig Keary outlined the company’s forward focus alongside the results.
Craig Keary, Raiz Invest CEO
“We enter FY27 with a solid foundation of Active Customers, Funds Under Management, a strong balance sheet, market-leading products and a trusted consumer brand. Under my leadership, we will invest in people and systems through the Transformation Program over the next 18 months, in order to sustainably scale the business over time.”
An accompanying overview of the FY26 financial results is available on the Raiz Investor Hub from 28 August 2026.
Why the FY26 result matters for investors
The FY26 result combined profitable growth with clear margin expansion, as the company delivered revenue growth of 21.4% while nearly doubling underlying EBITDA. Record funds under management of $2.32bn and a strengthened cash balance of $15.4m underpinned the performance.
Looking ahead, the Transformation Program and a product pipeline extending into US-listed equities, ETFs and direct ASX trading position the platform for continued development in FY27.
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