LM PAY S.A., a fast-growing fintech provider of embedded finance solutions for the healthcare and insurance sectors, reported preliminary results for the fiscal year 2025, highlighting a 48.5% year-over-year increase in total revenue to PLN 37.8 million (approx. EUR 8.9 million), up from the revised PLN 25.46 million in 2024. The company's Earnings Before Interest and Tax (EBIT) rose by over half to PLN 10.8 million (approx. EUR 2.6 million), demonstrating operational efficiency. However, the net result showed a loss of PLN -1.9 million (approx. EUR -0.4 million), attributed to deferred tax adjustments, a non-operational accounting item. Gross profit reached PLN 1.2 million, indicating solid core business strength.
The revenue growth was driven by the expansion of the partner network, escalating consumer demand in beauty and healthcare, and growing performance in the vehicle insurance premium financing segment. Customer loyalty remained strong, with returning clients comprising 32% of the base, and total services processed increased by 12% year-over-year to 43,000 individuals. The company updated its accounting policy, now presenting early loan repayments and customer withdrawals as costs rather than revenue reductions, a presentation-only change that does not affect operating profit.
In the first quarter of 2026, sales growth continued with a 3.8% increase to PLN 7.5 million 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 at 34%.
LM PAY's international expansion into Romania has been suspended after the National Bank of Romania refused to approve the registration of the Romanian branch in the General Register, primarily due to the inability to provide detailed documentation concerning minority shareholders. The company noted that its share registry, subject to volatility through exchange trading, prevents it from obtaining identity documents and criminal records for every minority shareholder. All other compliance and transparency mandates were satisfied.
Despite this setback, LM PAY remains focused on strategic partnerships and market expansion in Poland. The company will present its current business figures and 2026 outlook during an earnings call on July 7th at 2 p.m. CEST, registered via this link. The full FY 2025 financial report will be released upon completion of the external audit cycle.
