Lendinvest (LINV) H2 2025 earnings summary

Executive summary

• Achieved a transformative year with a return to profitability, delivering H2 profit before tax of £0.5m, a 117% increase in EBITDA to £3.2m, and a 96% reduction in loss before tax to £1.2m.

• Lending volumes grew 39% year-over-year to £1.23bn, with mortgages division lending up 62%.

• Shifted to a capital-light, technology-driven model, with 79% of platform AUM managed for third parties and AUM up 16% to £3.23bn.

• Embedded structural cost efficiencies, reducing operating costs by 22% and staff costs by £4.6m.

• Net fee income rose 48% to £22m, and net interest income nearly doubled to £15.7m.

Financial highlights

• Net interest income nearly doubled to £15.7m, and net fee income rose 48% in H2 to £22m.

• Loss before tax reduced 96% to £1.2m; adjusted EBITDA improved by £22.1m year-over-year.

• Administrative expenses down 14% to £36.3m; impairment charges fell 58% to £3.5m.

• Net assets increased 16% to £64.4m; loans and advances rose 47% to £694m.

• Cash and equivalents at year-end were £68.2m, up 22%.

Outlook and guidance

• FY26 priorities: disciplined execution, operating efficiency, and profit growth in line with market expectations.

• Medium-term ambition to double lending volumes and AUM, focusing on existing and adjacent products.

• Lean cost base and automation to support operating leverage; no significant headcount increases planned.

• Dividend payments to resume once profitability and balance sheet recovery are secured.