LM PAY S.A. publishes audited FY 2025 results: EBIT reaches PLN 12.4 million and exceeds preliminary result and guidance

Warsaw, September 30, 2026 – LM PAY S.A. (ISIN: PLLMPAY00016), a Polish FinTech company providing embedded finance solutions for the healthcare, beauty and insurance sectors, has published its audited financial statements for the financial year ended December 31, 2025.

LM PAY generated net sales revenue of PLN 32.4 million and operating profit (EBIT) of PLN 12.4 million in 2025, corresponding to a strong EBIT margin of 38.3%. Revenue was within the published FY 2025 guidance range of PLN 32–42 million, while EBIT exceeded the upper end of the guidance range of PLN 7–12 million.

Despite financing costs of PLN 16.2 million, LM PAY achieved a profit before tax of PLN 1.2 million. An income tax expense of PLN 2.5 million resulted in a net loss of PLN 1.3 million for the year.

FY 2025 financial highlights

• Net sales revenue: PLN 32.4 million
• Operating profit (EBIT): PLN 12.4 million
• EBIT margin: 38.3%
• Profit before tax: PLN 1.2 million
• Net result: loss of PLN 1.3 million
• Net cash flow from operating activities: PLN 6.1 million

The audited results demonstrate LM PAY’s ability to generate strong operating profitability and positive operating cash flow despite elevated financing costs and the one-off effects associated with the transition to a new refinancing partner.

Audited results outperform preliminary EBIT and net result

The audited results compare favourably with the preliminary figures published on July 7, 2026, at the operating profit and net result levels.

Audited EBIT was approximately PLN 1.6 million higher than the preliminary figure, while the audited net loss was approximately PLN 0.6 million lower. Audited revenue amounted to PLN 32.4 million, compared with PLN 37.8 million reported in the preliminary results.

According to the Management Board, the differences between the preliminary and audited results primarily reflect adjustments relating to the classification, recognition period and allocation of revenue and costs associated with receivables sales, early loan repayments and financing costs. These adjustments were made during the finalisation of the financial statements and the external audit process.

The overall effect of these adjustments was a reduction in reported revenue accompanied by an improvement in both operating profit and the net result.

Accounting presentation

In the preliminary results announcement, the Company referred to a change in the presentation of early loan repayments and customer withdrawals from loan agreements. Under the approach described at that time, these items were presented as costs, whereas they had previously been presented as a reduction in revenue.

The audited financial statements state that the Company did not change its accounting policies in 2025. Consequently, this matter is not presented in the final financial statements as a change in accounting policy, and the audited results reflect the classification and presentation applied in the audited financial statements.

The Company has therefore aligned the final presentation of revenue and costs with the conclusions reached during the preparation and audit of the annual financial statements.

Refinancing structure

The 2025 results were affected by increased financing costs and one-off expenses related to the change of refinancing partner. The transition was completed during the third quarter of 2025, when UniCredit became the Company’s new financing partner.

While this transition placed a one-off burden on the 2025 results, the new financing structure is intended to support the continued scaling of LM PAY’s operations and, according to the Management Board, provide access to financing on more favourable terms.

The Company expects the cooperation with UniCredit, combined with the continued optimisation of its funding structure, to support the development of its core healthcare and beauty financing business as well as the expansion of its insurance financing offering.

Business development

In 2025, LM PAY continued to expand its business across the healthcare, beauty and insurance sectors. The value of loans originated increased to approximately PLN 128.4 million, while the number of loans originated reached 53,524, compared with 47,086 in the previous year.

The Company is also developing financing products for the motor insurance market. The Management Board considers this segment attractive due to the scale of the addressable market, access to an extensive distribution network of insurance intermediaries and the expected risk profile of the product.

LM PAY intends to continue expanding its B2B distribution network, developing its online and offline sales channels and increasing the scale of its core financing activities. The Company will maintain its focus on responsible lending, credit-risk management and operating efficiency.

Publication of financial reports

The audited financial statements of LM PAY S.A. for the financial year ended December 31, 2025, and the half-year financial statements for the six-month period ended June 30, 2026, are available in the Investor Relations section of the Company’s website:

www.lmpay.pl/financial-publications/

The reports include the statement of financial position, statement of profit or loss, statement of changes in equity, statement of cash flows and the accompanying notes to the financial statements.

Q3 2026 earnings call

The Management Board of LM PAY S.A. invites investors, analysts and members of the financial media to the Company’s Q3 2026 earnings call.

Date: November 19, 2026

Time: 11:00 CET

Registration: https://research-hub.de/events/registration/2026-11-19-11-00/Y00-GR

During the call, the Management Board will discuss the financial performance for the third quarter and the first nine months of 2026, current operating developments and the Company’s outlook.

About LM PAY

LM PAY S.A. is a rapidly growing Polish FinTech company specialising in embedded finance solutions for healthcare services, aesthetic treatments and insurance. The Company provides customers with convenient access to financing at the point of sale while enabling service providers to receive payment promptly.

LM PAY’s platform is integrated into the workflows of more than 13,000 medical clinics, dental practices, beauty salons, healthcare providers and insurance intermediaries in Poland. The Company has 15 years of operating experience in the Polish market.

LM PAY continues to develop its business by expanding its B2B partner network, improving its technology platform and extending its financing solutions into additional service segments, including motor insurance.

The shares of LM PAY S.A. are traded on the Düsseldorf Stock Exchange’s Primärmarkt and in Frankfurt.

ISIN: PLLMPAY00016

WKN: A3EWU0

Investor relations