PensionBee AUM rise 37% backed by invested customer numbers growth

PensionBee Group PLC on Wednesday said invested customer numbers increased in the second quarter helping it grow assets under management.

The London-based online pension provider reported an adjusted loss before interest, taxes, depreciation and amortisation of £600,000 in the three months ended June 30, narrowed from a £900,000 loss the year prior.

Revenue increased 43% to £13.9 million from £9.8 million a year ago, while last-twelve-months revenue rose by 37% to £50.2 million from £36.7 million.

Assets under management grew 37% to £8.62 billion by June 30 from £6.30 billion a year ago, with net flows of £272 million in the quarter compared with £209 million a year ago.

The invested customer base increased by 14% to 327,000 from 286,000 a year ago, with 12,000 new invested customers onboarded during the quarter.

In the UK, PensionBee said it is increasing marketing investment directed towards customer-generating partnerships and new audiences. In the US, its dual-channel strategy is "building momentum", the direct-to-consumer brand is "expanding awareness", while the business-to-business channel continues to onboard automatic rollover customers.

Looking ahead, the company plans to maintain its increased marketing investment over the remainder of 2026.

"Momentum continues to build, with a high volume of committed transfers already in the pipeline," it adds.

PensionBee reiterated existing guidance and aims to more than £100 million of revenue in the short to medium term - by year-end 2029 - and reach around 20% adjusted Ebitda margin over the same timeframe.

Shares in PensionBee closed down 1.2% at 123.50 pence each in London on Wednesday.

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