LM PAY S.A., a fast-growing fintech provider of embedded finance solutions for healthcare and insurance sectors, has reported preliminary results for its 2025 fiscal year, showcasing robust revenue growth and operational efficiency. The company also provided an update on its business momentum in the first quarter of 2026.
For the fiscal year 2025, LM PAY achieved a 48.5% year-over-year increase in total revenue, reaching PLN 37.8 million (approx. EUR 8.9 million), compared with 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 (approx. EUR 2.6 million). The company attributed its commercial success to three key pillars: expansion of its partner network, escalating consumer demand in beauty and healthcare, and growing performance within its specialized vehicle insurance premium financing segment.
Customer loyalty strengthened, with the proportion of returning clients rising 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 company reported a net loss of PLN -1.9 million (approx. EUR -0.4 million) due to deferred tax adjustments, a non-operational, timing-related accounting item. LM PAY emphasized that its underlying operational profitability remains robust, with a gross profit of PLN 1.2 million (approx. EUR 0.6 million).
The company also noted a change in accounting policy for early loan repayments and customer withdrawals, which are now presented as a cost rather than a reduction in revenue. This presentation-only change does not affect operating profit. Early repayments totaled PLN 5.97 million in 2025, up from PLN 2.71 million in 2024.
Looking at the first quarter of 2026, sales growth continued 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 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, and the returning customer share remained high at 34%.
In a significant development, LM PAY announced that its international expansion into Romania is suspended for the current fiscal year, as the National Bank of Romania (NBR) refused to approve the registration of the Romanian branch in the General Register, citing an inability to furnish requisite documentation concerning minority shareholders. The company stated that it does not possess the legal standing to acquire identity documents or criminal records for minority shareholders due to the volatile nature of its share registry. Nevertheless, all other compliance and transparency mandates were satisfied.
The company will present its current business figures and 2026 outlook on July 7 at 2 p.m. CEST during an earnings call organized by MWB. Interested investors and members of the press can register at this link. LM PAY anticipates publishing its comprehensive FY 2025 report upon completion of the external audit cycle.
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.
