LM PAY S.A., a fast-growing fintech provider of embedded finance solutions for healthcare and insurance sectors, reported solid preliminary financial results for the fiscal year 2025, showcasing a 48.5% year-over-year increase in total revenue to PLN 37.8 million (approximately EUR 8.9 million), compared to PLN 25.46 million in the revised 2024 figures. The company's operating performance demonstrated exceptional efficiency, with Earnings Before Interest and Tax (EBIT) rising by over half from PLN 7.0 million to PLN 10.8 million (approximately EUR 2.6 million).
The robust growth was driven by expansion of the partner network, escalating consumer demand in beauty and healthcare sectors, and growing performance in the specialized vehicle insurance premium financing segment. Customer loyalty continued to strengthen, with returning clients rising to 32% and total services processed increasing by 12% year-over-year to a combined base of 43,000 individuals. However, the reported net result for FY 2025 was a loss of PLN -1.9 million (approximately EUR -0.4 million), attributed to deferred tax adjustments – a non-operational, timing-related accounting item. The company achieved a gross profit of PLN 1.2 million, demonstrating solid core business strength.
In the first quarter of 2026, sales growth continued with revenue of PLN 7.5 million (approx. EUR 1.7 million), a 3.8% increase compared to the same quarter of the previous year. EBIT fell by 24.6% to PLN 1.6 million due to development costs related to product offering expansion and new sales partnerships in the insurance sector. Customer acquisition rose by 6.4% to 12.8 thousand, with returning customers remaining high at 34%. The management will present the current business figures and 2026 outlook on July 7 at 2 p.m. CEST during an earnings call; interested parties can register at this link.
Regarding international expansion, LM PAY's expansion into Romania is suspended for the current fiscal year after the National Bank of Romania (NBR) refused to approve the registration of the Romanian branch in the General Register, mandated for consumer finance operations. The denial was primarily based on the inability to furnish requisite detailed documentation concerning minority shareholders. The company stated that given the unique characteristics of its share registry, subject to volatility through exchange trading transactions, it does not possess the legal standing to acquire identity documents, criminal records, or equivalent credentials for every minority shareholder. Nevertheless, all other compliance and transparency mandates set forth by NBR were satisfied. With a robust plan in place and a strong focus on strategic partnerships and market expansion in Poland, LM PAY will focus on achieving its ambitious goals for the current year.
The company's financial reports for FY 2025 will be released upon completion of the external audit cycle. LM PAY is committed to maintaining the highest standards of financial rigor and anticipates publishing the comprehensive report in the near term. As disclosed in the press release, the accounting policy was updated in 2025 to present early loan repayments and customer withdrawals from loan agreements as a cost, whereas previously these were presented as a reduction in revenue. This change is presentation-only and does not affect operating profit.
