Praemium Shifts Earnings Metric and Updates Leadership

The Australian wealth management firm is moving to cash EBITDA reporting while finalising a board transition.

Updated on Oct. 16, 2026 in Corporate Finance

Isometric editorial illustration of stacked geometric cubes, symbolizing clarity in corporate financial reporting metrics. — Praemium is transitioning to cash EBITDA reporting to improve financial transparency while naming Matthew Quinn as the new board chair. AI Illustration. Upload story photo >

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Praemium is changing its earnings reporting methodology to cash EBITDA to better account for capitalised development costs. The move coincides with a major leadership shift as Matthew Quinn assumes the role of board chair.

Why it matters

High levels of non-operating costs previously obscured the conversion of EBITDA into net profit and cash flow. By adopting this new metric, the firm aims to provide investors with a clearer view of its underlying financial health.

Praemium currently manages $34.4 billion in funds, following a 7.4% increase in assets under administration. This growth supports the firm's ongoing transition to its new P2 technology platform.

The players

Matthew Quinn

He is the current board chair of Praemium who took over leadership on 22 September 2026.

Barry Lewin

He is the outgoing board chair who stepped down after approximately ten years in the role.

Denis Orrock

He currently serves as the acting chief executive of the Australian wealth management firm.

The details

The firm now calculates cash EBITDA as EBITDA minus capitalised development expenditure to align reported results with actual cash flow generation. Concurrently, executive incentive structures have been adjusted to incentivise performance under this new financial standard.

1 June 2026: Matthew Quinn joined the Praemium board.
September 2026: The first release of the P2 technology platform launched.
22 September 2026: Matthew Quinn assumed the role of board chair.
1H 2027: The firm implements cash EBITDA reporting.
End of 2027: The technology transition is scheduled for completion.

Market Dynamics

The adoption of cash EBITDA reflects a broader trend among Australian financial firms to clarify profit quality for shareholders. This strategy helps distinguish actual cash flow from capitalised investments as the company scales its P2 technology.

Shareholders and retail investors should anticipate different profit reporting figures beginning in the first half of 2027. This adjustment will likely affect how the firm’s valuation and performance targets are assessed in future financial filings.

The takeaway

Investors should note that the transition to cash EBITDA is intended to provide a more realistic picture of the firm's liquidity. The ongoing P2 platform rollout remains a key milestone for clients as the company completes its technology overhaul by the end of 2027.