LM Pay’s preliminary figures for FY 2023 and Q1 2024 underpin strong growth and customer loyalty

We are pleased to announce that LM Pay is able to present its unaudited 2023 and Q1 2024 preliminary financial figures. The lending fintech specializing in financing medical treatments recorded a 16.5% increase in revenue from PLN 15.05 million (EUR 3.21 million) in FY2022 to PLN 17.52 million (EUR 4.03 million) in FY2023. Focus on sales intensification to existing clients and further acquisition of cooperating clinics with growing demand for medical services in Poland resulted in a 23.8% growth in acquired customers from 26 thousand in FY2022 to 33 thousand in FY2023. The level of recurring customers increased from 26% to 29% as a result of meeting the needs of our customers and the repetitive nature of particular medical treatments. A new cooperation with a global investment fund as a refinancing partner and the costs in connection with the listing of the share on the stock exchanges in Düsseldorf, Frankfurt and Berlin had a one-off impact on the company’s profitability causing a decline in EBIT from PLN 3.70 million (EUR 0.79 million) in FY2022 to PLN 0.73 (EUR 0.17 million) in FY2023.

In the first quarter of FY2024, EBIT more than doubled, reaching PLN 2.28 million (EUR 0.53 million, Q1 2023: PLN 1.02 million, EUR 0.22 million). LM Pay recorded a 48.5% increase in sales revenue, rising from PLN 3.96 million (EUR 0.85 million) in Q1 2023 to PLN 5.89 million (EUR 1.37 million) in Q1 2024. We have experienced a further substantial increase in acquired customers which grew from 9 thousand in Q1 2023 to 11 thousand in Q1 2024. Moreover, we are pleased to report that our quarterly recurring customer rate remains stable at around 31%. This demonstrates our strong customer loyalty and the value of our services.

The LM Pay management believes that our preliminary figures for the FY 2023 and Q1 2024 prove our commitment to customer satisfaction and profitable growth. We are looking forward to sharing more details in audited full FY2023 results and our preliminary Q2 2024 figures.