LM PAY S.A., a fast-growing fintech provider of embedded finance solutions for healthcare and insurance sectors, reported solid preliminary results for fiscal year 2025 and positive business momentum in the first quarter of 2026, according to a press release issued on July 7, 2026. The company, which has 15 years of operating experience in Poland and a network of over 13,000 medical clinics and service providers, saw total revenue increase by 48.5% year-over-year to PLN 37.8 million (approximately EUR 8.9 million) in 2025, compared to PLN 25.46 million in the previous year.
The revenue growth was driven by expansion of the partner network, escalating consumer demand in beauty and healthcare sectors, and growing performance in the vehicle insurance premium financing segment. Earnings Before Interest and Tax (EBIT) rose by over half to PLN 10.8 million (approximately EUR 2.6 million) from PLN 7.0 million in 2024. However, the company reported a net loss of PLN -1.9 million for FY 2025, attributed to deferred tax adjustments, a non-operational accounting item. Gross profit stood at PLN 1.2 million, indicating solid core business strength.
The company noted a change in accounting policy for 2025, 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. This presentation-only change does not affect operating profit. One-off costs related to a change of refinancing partner also impacted results.
In the first quarter of 2026, sales continued to grow, with revenue reaching PLN 7.5 million (approximately 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 for product expansion and new sales partnerships in the insurance sector. Customer acquisition rose by 6.4% to 12.8 thousand, and the share of returning customers remained high at 34%.
LM PAY'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 due to the company's inability to provide detailed documentation concerning minority shareholders, given the volatility of its share registry on the exchange. LM PAY stated it does not possess the legal standing to obtain identity documents or criminal records for every minority shareholder. All other compliance and transparency requirements were satisfied.
The company will focus on strategic partnerships and market expansion in Poland, aiming to achieve ambitious goals for the current year. Management will present the 2026 outlook and current business figures 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.
LM PAY's financial reports for FY 2025 will be released upon completion of the external audit. The company is listed on the Düsseldorf Stock Exchange (ISIN: PLLMPAY00016) and collaborates with leading market players in Poland. Key growth areas include further developing the B2B partner network in Poland and diversifying embedded finance solutions into new industries such as auto insurance and legal services.
