SelfWealth Ltd reported strong financial results for FY24, with underlying EBITDA up 36% to $5.5 million and NPAT increasing significantly to $3.4 million.
The company maintained a steady customer base of approximately 129,000 active portfolios and grew Funds under Administration by 13% to $10.7 billion, despite a 6% decrease in revenue due to weaker macroeconomic conditions.
SelfWealth completed the first part of its transformation program, focusing on right-sizing the business, enhancing platforms, and improving customer experience, while reducing operating expenses by 16.6%.
The company remains funded with $11.4 million cash at bank and no debt.
ASX Code: SWF