PensionBee Group (PBEE) investor relations material

Executive summary

• Ended 2025 with £7.4bn AUA, up 27% year-on-year, £51m annual run rate revenue (up 33%), and 305,000 invested customers, a 15% increase year-over-year, with retention rates above 95%.

• Achieved group adjusted EBITDA profitability (£1m at 2% margin), with UK adjusted EBITDA at £5.4m (12% margin), reflecting significant operating leverage.

• Continued investment in brand, technology, and AI, driving productivity and customer satisfaction (NPS 67 from 7,177 responses, Trustpilot 4.6).

• Strengthened brand awareness in the UK (prompted awareness ~60%) and deepened US market presence through new product offerings, partnerships, and multi-city campaigns.

• U.S. business refined strategy, built brand awareness (up to 12% in NY), developed infrastructure for IRA offerings, and onboarded first employer clients.

Financial highlights

• Group revenue rose 28% to £42.6m; ARR up 33% to £51m; UK revenue also up 28% to £44.0m.

• Adjusted EBITDA increased 104% to £0.9m at group level and 131% to £5.4m in the UK.

• Revenue margin held steady at 65 basis points, with resilient gross margin in the mid-60s percent.

• Profit before tax loss narrowed to £2.8m (group) and turned positive to £2.2m (UK).

• Cash balance of £33m supports further UK scaling and US investment.

Outlook and guidance

• Short/medium-term target: >£100m revenue and 20% adjusted EBITDA margin by 2029; long-term: >£250m revenue and 50% margin by 2034.

• Targeting 1 million invested customers in the long term, with a 35% CAGR in recent years.

• UK business expected to remain self-funding and profitable, with increased marketing spend.

• US business funded by prior capital raise, aiming for $1bn AUA milestone.