PensionBee loss narrows as revenue jumps 40% in "strong" first half

PensionBee Group PLC on Thursday reported improved revenue and profitability for its first half-year.

The London-based online pension provider's pretax loss for the first six months of 2026 narrowed to £2.9 million from £5.1 million the year before.

Revenue increased 40% to £26.4 million from £18.9 million, as group invested customers increased 14% to 327,000 from 286,000. PensionBee's annual run-rate revenue also rose 40%, to £55.8 million from £39.8 million.

Assets under administration were 37% higher at £8.6 billion as of June 30, from £6.3 billion one year prior, which PensionBee said was supported by £493 million of net flows, up year-on-year from £423 million.

PensionBee also said that its adjusted loss before interest, tax, depreciation and amortisation narrowed to £1.1 million from £2.9 million. Its 'last-twelve-months' adjusted Ebitda profitability increased to £2.7 million from approximately minus £500,000.

Basic earnings per share increased to 3.45 pence from a loss of 2.14p. Excluding PensionBee's first-time recognition of a deferred tax asset, it reported a narrowed half-year loss per share of 1.24p.

"PensionBee delivered strong operational and financial performance in the first half of the year...We delivered increased profitability in the UK and across the group over the last year, reflecting the operational leverage inherent within our scalable technology platform," commented Chief Executive Officer Romi Savova. "In the UK, we increased marketing investment to reach new audiences, combining brand partnerships with data-led acquisition campaigns. This drove UK prompted brand awareness to a record 62% (H1 2025: 59%), underpinning strong customer acquisition and pipeline momentum.

"In the US, we progressed our dual-channel strategy, developing recordkeeper relationships and our intermediary pipeline to facilitate repeat client referrals, positioning us to generate recurring inflows. Complemented by our direct-to-consumer brand presence, we are working towards our initial goal of USD1bn of AUA."

Looking ahead, PensionBee reiterated its existing guidance framework, including its aims of revenue exceeding £100 million by the end of 2029, and exceeding £250 million by the end of 2034.

PensionBee shares were down 1.7% at 142.50p on Thursday afternoon in London.

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