PayPoint (PAY) Q3 2025 TU earnings summary

Executive summary

• Delivered a positive Q3 with strong performance in seasonal businesses, maintaining momentum despite a challenging trading environment and stalled consumer confidence.

• Remains on track to meet FY25 expectations and targets £100m EBITDA by end of FY26.

• Seasonal divisions, especially E-commerce and Love2shop, drove growth, while Shopping and Card Payments faced headwinds from lower consumer spending.

Financial highlights

• Group net revenue rose 1.9% to £53.0m compared to Q3 FY24, led by E-commerce (+32.0%) and Love2shop (+1.3%).

• Shopping net revenue fell 2.0% to £16.1m; Card payments net revenue down 5.7% to £7.8m.

• E-commerce net revenue surged to £4.1m (+32.0% YoY) with parcel transactions up 36.8%.

• Payments & Banking net revenue up 0.8% to £14.0m; Love2shop billings up to £71.2m (+6.6% YoY).

• Net corporate debt increased to £108.9m (from £67.5m at March 2024), expected to fall below £100m by March 2025.

Outlook and guidance

• Confident in delivering FY25 expectations and achieving £100m EBITDA by end of FY26.

• Planning for FY25/26 focuses on growth, cost base optimization, and leveraging opportunities across all divisions.