Hub24 Ltd (ASX: HUB) shares are taking off again on Tuesday morning.
At the time of writing, ASX 200 tech stock is up over 8% to a record high of $102.66.
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Why is this ASX 200 tech stock jumping?
Investors have been buying the investment platform provider's shares this morning following the release of a trading update.
According to the release, Hub24 delivered strong growth in the fourth quarter of FY 2025.
The ASX 200 tech stock notes that Platform funds under administration (FUA) increased 10% over the quarter and 34% year on year to $112.7 billion. This was driven by net inflows of $5.3 billion (up 7% on the prior corresponding period) and positive market movements of $4.9 billion.
These net inflows included $1.2 billion of large migrations from EQT. Excluding large migrations, net inflows were a record $4.1 billion and up 33% on the prior corresponding period.
In light of this strong quarter, Hub24 had a record year of net inflows of $19.8 billion (up 25% on the prior corresponding period) for FY 2025.
Management highlights that this reflects its continued market leadership, strong customer relationships, and proven ability to execute large, complex migrations. During the quarter, 31 new distribution agreements were signed and the total number of advisers using the platform increased by 13% year on year to 5,097.
Market share gains
The ASX 200 tech stock points out that its market share continues to increase and at a quick rate.
In fact, it ranked first for quarterly and annual net inflows for a sixth consecutive quarter, which underpinned the largest quarterly and annual market share gains of all platform providers.
Hub24 increased its market share to 8.7%, up from 7.2%, which means it now ranks seventh overall.
But if you think the gains are over, then think again. Management is confident that its strong form can continue. It said:
Our record FY25 net inflows and ongoing momentum reflect strong customer advocacy. Operating in structurally growing markets driven by demographic trends and compulsory superannuation, HUB24 is well positioned for continued growth, supported by a strong pipeline of opportunities from new and existing relationships.
Supporting this will be its investment in its high net worth (HNW) capability. It adds:
During the quarter, HUB24 extended its leading HNW capability, launching an innovative and unique solution designed to meet the growing demand for HNW solutions from advisers and their clients. HUB24 Private Invest is designed specifically for wholesale clients, providing easier access to a broader range of wholesale investments, streamlined disclosure documentation, administration of custody and non-custody assets, and market-leading consolidated reporting powered by Engage (HUB24's enhanced reporting capability).
Following today's move, this ASX 200 tech stock is now up 120% over the past 12 months.
