LM PAY S.A., a fintech provider of embedded finance solutions for healthcare and insurance, reported strong preliminary financial results for fiscal year 2025, with total revenue increasing 48.5% year-over-year to PLN 37.8 million (approximately EUR 8.9 million), compared to the revised PLN 25.46 million in 2024. Earnings Before Interest and Tax (EBIT) rose by over half, from PLN 7.0 million to PLN 10.8 million (approximately EUR 2.6 million). The company attributed growth to expansion of its partner network, escalating consumer demand in beauty and healthcare, and strong performance in vehicle insurance premium financing.
Customer loyalty strengthened as returning clients rose slightly to 32%, and the total volume of services processed increased by 12% year-over-year, reaching a combined base of 43,000 individuals. However, the net result for FY 2025 was a loss of PLN -1.9 million (approx. EUR -0.4 million), driven by deferred tax adjustments described as a non-operational, timing-related accounting item. Gross profit stood at PLN 1.2 million, demonstrating core business strength.
The company also updated its accounting policy, now presenting early loan repayments and customer withdrawals as a cost rather than a reduction in revenue. Early repayments totaled PLN 5.97 million in 2025, up from PLN 2.71 million in 2024. This change is presentation-only and does not affect operating profit. One-off costs related to a change of refinancing partner also impacted results.
Sales growth continued in the first quarter of 2026, with revenue of PLN 7.5 million (approx. EUR 1.7 million), a 3.8% increase compared to the same quarter last year. However, EBIT fell 24.6% to PLN 1.6 million due to development costs for product expansion and new sales partnerships in the insurance sector. Customer acquisition rose 6.4% to 12,800, while returning customer share remained high at 34%.
In a significant strategic setback, LM PAY’s international expansion into Romania has been suspended for the current fiscal year after the National Bank of Romania (NBR) refused to approve registration of the Romanian branch. The denial was based on the company’s inability to provide detailed documentation concerning minority shareholders, as required by Romanian regulations. The company stated it cannot legally obtain identity documents or criminal records for minority shareholders due to the volatile nature of its share registry. All other NBR compliance mandates were satisfied.
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 https://research-hub.de/events/registration/2026-07-07-14-00/Y00-GR. The company plans to focus on strategic partnerships and market expansion in Poland to achieve its ambitious goals for the current year.
