Aussie Broadband’s FY25 results have revealed a group revenue of over $1.1 billion, up 18.7% compared to FY24’s $999 million result.
The revenue boost accompanied year-on-year gains in underlying EBITDA (up 14.7% to $138.2 million, at top end of upgraded guidance) and NPAT (up 24.5% to $32.8 million).
The company’s NBN market share increased 1.1 ppts to 8.4%, while on-net broadband connections increased 104,100 to 788,400, a 15.2% growth on FY24.
The Residential segment delivered revenue growth in FY25, up 15.7% vs. FY24. Residential achieved net growth of 67,000 connections in FY25, supported by the launch of Buddy which reached almost 14,000 customers in its first year.
The Business segment delivered 11.4% growth in revenue, and while gross profit came under pressure in the second half with market competition intensifying, the segment has recently transitioned into a new operating model and right-sized its customer support team.
The Enterprise & Government segment saw a 11.1% growth in revenue, reinforced by new agreements with Cricket Australia, Queensland Police Service and Maurice Blackburn Lawyers, amongst several other wins across diverse industries.
Wholesale delivered like-for-like revenue growth of 23.1%. 183 new partners were added in FY25, including UplinkME, GPK Group, Neptune Internet and Partner Wholesale Networks. As at 30 June 2025, Aussie Broadband was a provider of wholesale services to 1,301 customers, with several opportunities in the pipeline underpinning continuing growth in FY26.
In its first full year as part of the Group, Symbio delivered a performance with EBITDA above expectations, up 35% on a pro forma basis. Symbio renewed long-term agreements with MEDION Australia and Spark NZ, and continued to gain market share with several new contract wins.
Hosted numbers increased 6.1% despite several legacy platforms being decommissioned during the year, while mobile services in operation (SIO), grew 12.6% vs. FY24 to 123,600, with nearly one third of all new activations via eSIM. Further integration between Aussie Broadband and Symbio is expected to unlock additional capabilities, driving incremental demand for the Group’s broad suite of services.
Aussie Broadband group CEO Brian Maher said across the Group, the company now supports more than 1.1 million services.
“Aussie Broadband’s reputation as a premium provider of fast-speed broadband and mobile products, as well as a trusted partner for voice, messaging and wholesale services, is delivering market share gains and solid growth in our sales pipeline,” he said.
“Over the year, we took the opportunity to increase our investment in core platforms and capacity to ensure Aussie Broadband is well positioned for long-term sustainable growth with a secure and resilient network. We continued to invest in our owned Aussie Fibre network, with a focus on winning customers in on-net and near-net buildings within our existing footprint, which will increase utilisation and improve return on invested capital.
“In April, we revealed our Look-To-28 strategy, which outlines our ambitions for the next three years. Our FY25 results demonstrate that Aussie Broadband’s technology offering truly resonates with households, businesses and telco partners alike. Supported by our realigned operational structure and new leadership team, effective from 1 July 2025, I am confident we are well on the path to achieving our ambitions.”
New six-year agreement with More and Tangerine
The company also revealed it has entered into an exclusive six-year wholesale agreement with More Telecom (More) to provide NBN network services to More and its jointly operated group company, Tangerine Telecom (Tangerine).
Separately, Aussie Broadband has agreed to sell the Buddy Telco brand and customer assets to Tangerine for an estimated $8 million, with completion expected in H2 FY26.
More and Tangerine connections (currently ~250,000) will be migrated to Aussie Broadband’s network in H2 FY26, boosting NBN broadband connections to approximately 1.04 million. Following the migration of More and Tangerine customers to its network, Aussie Broadband is expected to hold the fourth largest NBN market share.
More is the exclusive telco partner to the Commonwealth Bank of Australia’s (CBA) customer recognition program, CommBank Yello. In June 2025 CBA increased its equity holding in More and Tangerine to 40% and extended its partnership with More through to 2035.
The wholesale services agreement is expected to deliver approximately $12 million in annualised underlying EBITDA from FY27 based only on the More and Tangerine connections at the time of migration.
Aussie Broadband said that further upside will be generated by “ongoing growth of data consumption and net connections through the six-year term of the agreement, which commences following the migration of the existing customer base”. The focus in FY26 will be on the migration of the existing connections and positioning the partnership for long-term success with minimal net financial contribution expected in FY26.
Central to the agreement, wholesale services to More and Tangerine will be provisioned via Aussie Broadband’s new wholesale platform, Nitrogen. The platform was launched internally in H2 FY25 for the Symbio business to migrate connections onto from a competitor network and leverage the Aussie Broadband wholesale network.
Nitrogen is a digital platform designed and built by Aussie Broadband that enables wholesale partners to scale their operations, allowing many features such as ordering, appointment setting and service management to be performed in the same way as if the wholesaler had direct connectivity to the NBN.
Buddy Telco was launched in July 2024 to focus on the value-led segment of the residential broadband market, providing customers with a digital-first customer experience. Buddy has grown to almost 14,000 connections as at 30 June 2025. The Buddy brand and customers will transition to Tangerine and connections will remain on the Aussie Broadband network as part of the wholesale services agreement.
“We have chosen Aussie Broadband as our wholesale broadband partner for two very simple reasons: their strong partnering culture and a network that underpins the most trusted telco in Australia,” said More and Tangerine co-founder and CEO, Andrew Branson.
“We were most impressed with their approach to collaboration and flexibility, which became very evident during our discussions; we felt genuinely heard and look forward to the opportunities and solutions we will build together to support our growth aspirations for More and Tangerine.”
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