ASX All Ords tech stock Praemium Ltd (ASX: PPS) is sinking on Tuesday morning after the company announced its H1 FY25 financial results before the open.

Shares in the wealth management company are currently swapping hands at 76 cents apiece, down nearly 13% on the day as investors digest the update.

Let's see what the company posted.

ASX All Ords tech stock slides on mixed H1 numbers

Praemium had a mixed period in the half but saw growth from top to bottom lines. Here are the key points from the release:

• Revenue of $52.3 million, a 32% year over year increase.
• Another $6 million of additional revenue was booked from the OneVue acquisition
• Pre-tax earnings increased by 43% year over year to $12.9 million
• Platform funds under administration (FUA) grew by 29% to $62.1 billion
• Net profit pulled to $5.8 million, a 45% growth from last year
• Declared a dividend of 1 cent per share, payable on March 21

What else happened in H1 FY25?

According to management, the ASX All Ords tech stock had an "outstanding continuation of momentum" in the first half.

Revenues were up by a third compared to the first half last year, leading to a 43% jump in pre-tax earnings to around $13 million.

In part, this was driven by "platform margins", which increased by three basis points to 0.28%, thanks to the repricing of its separately managed account (SMA).

It also left the first-half with net assets of $108 million after returning $7.5 million of cash to shareholders via dividends and buybacks.

Meanwhile, FUA increased by around 30% year over year, including $4.2 billion from its recent OneVue acquisition.

Speaking of that transaction, Praemium has now booked expenses of around $6.5 million associated with OneVue so far in FY25.

This included $1.6 million in one-time costs and an "increase in employee expenses, technology and marketing costs" to launch its Spectrum service. This may or may not impact the ASX All Ords tech stock.

What did management say?

Despite today's market reaction, CEO Anthony Wamsteker remained positive.

This is an outstanding continuation of the momentum built through the 2024 financial year. We have greatly improved our organic growth, repriced our core SMA to reflect its top tier market position, rebounded from the impact of adviser exits, launched a market leading IDPS with Spectrum, restructured operations offshore and returned earnings to shareholders.

I look forward to the added value to come from fully integrating our OneVue acquisition, repricing our market dominant non-custodial Scope solutions and gaining further growth from Spectrum.

As always, I recognise that these important benefits to shareholders are the product of incredible work from our people, the choices our advisers and their clients make and the privilege it is to serve to them. I thank all our key stakeholders for their contributions and the remarkable results they have helped produce.

What's next?

Management didn't provide formal guidance but did go over "Strategy" in the investor presentation.

The aim is to increase market share in core markets such as high-net-worth individuals, self-managed super funds, and "advised retail clients".

It also wants to "further develop…leadership position in alternative assets" and "target greater scale to allow both ongoing investment in the development of technology and a gradual increase in profit margin".

ASX All Ords tech stock snapshot

Praemium is under pressure today as investors unload shares in the ASX All Ords tech stock following its first-half numbers.

Zooming out, the stock is up more than 85% in the past twelve months.