LM PAY S.A., a Polish fintech provider specializing in embedded finance for healthcare and insurance, reported preliminary FY 2025 results showing a 48.5% year-over-year increase in total revenue to PLN 37.8 million (approx. EUR 8.9 million), compared to PLN 25.46 million in 2024. The company's EBIT rose by over half to PLN 10.8 million (approx. EUR 2.6 million) from PLN 7.0 million, indicating strong operational efficiency. However, LM PAY recorded a net loss of PLN -1.9 million (approx. EUR -0.4 million), attributed to deferred tax adjustments—a non-operational, timing-related accounting item—and a gross profit of PLN 1.2 million demonstrated solid core business strength.
The revenue growth was driven by expansion of the customer base, new partnerships, and increasing demand for healthcare, beauty, and insurance services. The company updated its accounting policy in 2025, presenting early loan repayments and customer withdrawals as a cost rather than a reduction in revenue—a presentation-only change that 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 changing refinancing partners also impacted results.
LM PAY's customer loyalty strengthened, with returning clients rising to 32% and total services processed increasing 12% year-over-year to 43,000 individuals. The company's partner network now includes over 13,000 medical clinics and service providers, along with insurance brokers, offering instant point-of-sale consumer financing for medical, dental, aesthetic, and insurance services.
In Q1 2026, sales growth continued with revenue reaching PLN 7.5 million (approx. EUR 1.7 million), a 3.8% increase year-over-year. However, 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 12,800, with returning customers maintaining a high share of 34%.
LM PAY's international expansion into Romania has been suspended after the National Bank of Romania refused to approve the registration of its Romanian branch, citing the inability to provide detailed documentation concerning minority shareholders. The company noted that its share registry's volatility through exchange trading prevents it from obtaining identity documents for every minority shareholder. All other compliance requirements were met.
The company will present its 2026 outlook during an earnings call on July 7 at 2 p.m. CEST, with registration available at https://research-hub.de/events/registration/2026-07-07-14-00/Y00-GR. LM PAY remains focused on achieving ambitious goals in Poland through strategic partnerships and market expansion. The full FY 2025 financial report will be released upon completion of the external audit.
