23rd Jul 2025 17:41
(Alliance News) - PensionBee Group PLC on Wednesday reported continued progress with its invested customer ambitions as it posted a 21% increase in assets under administration.
The London-based online pension provider said revenue increased 22% in the second quarter of 2025 to GBP9.8 million from GBP8.0 million a year earlier.
Invested customers improved 14% to 286,000 from 252,000, which it said represents "strong, continued growth," attributed to its "data-led, efficient customer acquisition approach."
PensionBee noted the continued progression toward its long-term goal of reaching one million invested customers.
Assets under administration also improved, rising 21% to GBP6.30 billion from GBP5.20 billion, with this growth underpinned by "strong net flows" and strong customer and AuA retention rates of greater than 95%.
PensionBee reported an adjusted loss before interest, tax, depreciation and amortisation of GBP900,000 for the second quarter, swinging from GBP100,000 in adjusted earnings a year prior.
Shares in PensionBee closed flat at 170.50 pence on Wednesday in London.
Looking to the second half of the year, PensionBee said it expects to deliver "substantial innovations" in support of long-term growth and productivity. It added that its AI internal co-pilot, Beetrix, continues to drive efficiencies across operations.
The company noted its ambitions of over GBP100 million in revenue by year-end 2029, with it aiming to exceed GBP250 million in revenue by year-end 2034.
With regard to adjusted Ebitda, PensionBee is targeting a margin of around 20% by year-end 2029, and around 50% by year-end 2034.
"We maintained our strong growth trajectory through Q2 2025, delivering another period of successful results. Assets under administration grew by 21% to GBP6.3b, generating revenue of GBP37 million over the last twelve months.
"With our Invested Customer base nearing the 300,000 mark, we're on track to hit another milestone of our journey to help more consumers prepare for a happy retirement," said Romi Savova, chief executive of PensionBee.
Savova continued: "Looking ahead, we're excited to continue executing our growth strategies across both the US and UK markets. With strong momentum, we are confident in our ability to continue delivering scalable recurring Revenue and profitable growth in the UK."
By Christopher Ward, Alliance News reporter
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