LM PAY S.A., a fast-growing fintech provider of embedded finance solutions for healthcare and insurance sectors, reported solid preliminary results for FY 2025, showcasing a 48.5% year-over-year increase in total revenue to PLN 37.8 million (approx. EUR 8.9 million), up from PLN 25.46 million in 2024. The company's operating performance demonstrated exceptional efficiency, with EBIT rising by over half to PLN 10.8 million (approx. EUR 2.6 million), compared to PLN 7.0 million in the prior year. Customer loyalty strengthened, with returning clients rising slightly to 32% and total services processed increasing by 12% year-over-year to 43,000 individuals.
The commercial success was driven by three key pillars: expansion of the partner network, escalating consumer demand in beauty and healthcare sectors, and growing performance in the specialized vehicle insurance premium financing segment. This synergy allowed LM PAY to broaden operational reach and increase revenue streams. However, the reported FY 2025 net result was a PLN -1.9 million (approx. EUR -0.4 million) loss, attributed to deferred tax adjustments—a non-operational, timing-related accounting item. Critically, LM PAY achieved a gross profit of PLN 1.2 million (approx. EUR 0.6 million), demonstrating solid core business strength.
In 2025, the company updated its accounting policy, 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 the change of refinancing partner also had a material impact on results.
Sales growth continued in the first quarter of 2026, with revenue reaching 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 (approx. EUR 0.39 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, while returning customers share remained high at 34%.
LM PAY's international expansion into Romania has been suspended in the current fiscal year, as the National Bank of Romania (NBR) refused to approve the registration of the Romanian branch in the General Register. The denial was primarily predicated on the inability to furnish requisite detailed documentation concerning minority shareholders. Given the unique characteristics of the company's share registry—subject to volatility through exchange trading—LM PAY does not possess the legal standing to acquire, for every minority shareholder, copies of their identity documents, criminal records, or equivalent credentials. 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. The management will present the current business figures and the 2026 outlook on July 7 at 2 p.m. CE(S)T during an earnings call organized by MWB. Interested investors and members of the press can register at https://research-hub.de/events/registration/2026-07-07-14-00/Y00-GR.
