LM PAY S.A., a Polish fintech provider of embedded finance solutions for healthcare and insurance, reported preliminary financial results for fiscal year 2025, highlighting 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 2024. The company also noted strong operating performance, with Earnings Before Interest and Tax (EBIT) rising to PLN 10.8 million from PLN 7.0 million, a gain of over 50%.
The revenue growth was driven by expansion of the partner network, escalating consumer demand in beauty and healthcare, and growing performance in vehicle insurance premium financing. Customer loyalty remained strong, with returning clients rising to 32% of the base, and total services processed increased 12% year-over-year to 43,000 individuals.
Despite operational strength, LM PAY reported a net loss of PLN -1.9 million (approximately EUR -0.4 million) for FY 2025, attributed to deferred tax adjustments, which the company described as a non-operational, timing-related accounting item. Gross profit reached PLN 1.2 million, demonstrating core business solidity. The company also updated its accounting policy for early loan repayments and customer withdrawals, now presenting them 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 changing a refinancing partner also impacted results.
In the first quarter of 2026, sales growth continued with revenue reaching PLN 7.5 million (approximately EUR 1.7 million), a 3.8% increase compared to the same quarter last year. 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 12.8 thousand, and returning customers remained high at 34%.
LM PAY’s international expansion into Romania has been suspended after the National Bank of Romania (NBR) refused to approve the registration of the Romanian branch in the General Register, required for consumer finance operations. The denial was based on the company's inability to provide detailed documentation concerning minority shareholders. LM PAY noted that due to the unique characteristics of its share registry—subject to volatility through exchange trading—it does not possess the legal standing to acquire identity documents or criminal records for every minority shareholder. All other compliance and transparency mandates were satisfied, the company stated.
With a robust plan in place, LM PAY will focus on strategic partnerships and market expansion in Poland to achieve 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.
Management will present current business figures and the 2026 outlook on July 7 at 2 p.m. CEST during an earnings call organized by MWB. Interested parties can register at https://research-hub.de/events/registration/2026-07-07-14-00/Y00-GR.
