LM PAY S.A., a fintech provider of embedded finance solutions for healthcare and insurance sectors, reported solid preliminary financial results for fiscal year 2025, with total revenue increasing 48.5% year-over-year to PLN 37.8 million (approx. EUR 8.9 million). The company also disclosed a net loss of PLN -1.9 million (approx. EUR -0.4 million), attributed to deferred tax adjustments, while underlying operational profitability remained robust with gross profit of PLN 1.2 million. Earnings Before Interest and Tax (EBIT) rose to PLN 10.8 million (approx. EUR 2.6 million), up from PLN 7.0 million in 2024.
The growth was driven by expansion of the partner network, escalating consumer demand in beauty and healthcare, and strong performance in vehicle insurance premium financing. Returning clients reached 32%, and total services processed increased 12% year-over-year to 43,000 individuals. The company updated its accounting policy in 2025, presenting early loan repayments and customer withdrawals as a cost rather than a revenue reduction, which is a presentation-only change and does not affect operating profit. Early repayments totaled PLN 5.97 million in 2025, up from PLN 2.71 million in 2024. One-off costs related to a change of refinancing partner also impacted results.
In the first quarter of 2026, sales growth continued with revenue of PLN 7.5 million, a 3.8% increase compared to Q1 2025. EBIT fell 24.6% to PLN 1.6 million due to development costs for product expansion and new sales partnerships in insurance. Customer acquisition rose 6.4% to 12,800, with returning customers at 34%.
However, LM PAY announced the suspension of its international expansion into Romania for the current fiscal year. The National Bank of Romania (NBR) refused to approve the registration of the Romanian branch in the General Register, citing inability to furnish detailed documentation concerning minority shareholders. The company noted that due to the volatility of its share registry through exchange trading, it cannot legally obtain identity documents or criminal records for every minority shareholder. All other NBR compliance mandates were satisfied.
Management will present the 2026 outlook during an earnings call on July 7 at 2 p.m. CEST, organized by MWB. Interested parties can register at https://research-hub.de/events/registration/2026-07-07-14-00/Y00-GR. The company remains focused on strategic partnerships and market expansion in Poland, targeting ambitious goals for the current year.
LM PAY, listed on the Düsseldorf Stock Exchange (ISIN: PLLMPAY00016), has 15 years of experience in the Polish market and collaborates with over 13,000 clinics and beauty salons. Key growth areas include further developing the B2B partner network in Poland and diversifying into auto insurance and legal services.
