LM PAY S.A., a fast-growing fintech provider of embedded finance solutions for the healthcare and insurance sectors, has announced preliminary financial results for fiscal year 2025, highlighting a 48.5% year-over-year increase in total revenue, reaching PLN 37.8 million (approx. EUR 8.9 million). The company, which operates a trusted network of over 13,000 medical clinics and service providers in Poland, also reported positive business momentum in the first quarter of 2026, with sales growth continuing despite strategic investments in product expansion.
The strong FY 2025 performance was driven by three key pillars: expansion of the partner network, escalating consumer demand in the beauty and healthcare sectors, and growing performance within the specialized vehicle insurance premium financing segment. Earnings Before Interest and Tax (EBIT) increased by more than half, from PLN 7.0 million (approx. EUR 1.6 million) in 2024 to PLN 10.8 million (approx. EUR 2.6 million). Customer loyalty strengthened, with returning clients rising to 32% and the total volume of services processed increasing by 12% year-over-year, reaching a combined base of 43,000 individuals.
While the reported FY 2025 net result was a loss of PLN -1.9 million (approx. EUR -0.4 million), attributed to deferred tax adjustments—a non-operational, timing-related accounting item—the company achieved a gross profit of PLN 1.2 million (approx. EUR 0.6 million), demonstrating solid core business strength. The company noted that its accounting policy was updated in 2025, 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, but this change in policy 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. However, 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, and the returning customer share remained high at 34%.
The company's international expansion into Romania has been suspended for the current fiscal year after the National Bank of Romania (NBR) refused to approve the registration of the Romanian branch in the General Register. The denial was primarily based on the inability to furnish requisite detailed documentation concerning minority shareholders. Given the unique characteristics of LM PAY's share registry, which is subject to volatility through exchange trading transactions, the company stated it does not possess the legal standing to acquire identity documents or criminal records for every minority shareholder. Nevertheless, all other compliance and transparency mandates set forth by NBR were satisfied.
LM PAY's management will present the current business figures and the 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 https://research-hub.de/events/registration/2026-07-07-14-00/Y00-GR. The company's financial reports for FY 2025 will be released upon completion of the external audit cycle. LM PAY is committed to maintaining the highest standards of financial rigor and anticipates publishing the comprehensive report in the near term.
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 collaborates with leading market players and has 15 years of experience in the Polish market. Listed on the Düsseldorf Stock Exchange (ISIN: PLLMPAY00016), LM PAY is well-positioned for future expansion, with key growth areas including further development of the B2B partner network in Poland and diversifying embedded finance solutions into new industries such as auto insurance and legal services.
