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LONDON - Online pension provider PensionBee Group plc reported a 21% year-on-year increase in assets under administration to £6.3 billion for the second quarter of 2025, according to a trading update released Wednesday.
The company saw its invested customer base grow by 14% to 286,000 compared to the same period last year, while group revenue increased by 22% to £9.8 million for the quarter.
PensionBee recorded a group adjusted EBITDA of £(0.9) million for the quarter, compared to £0.1 million in Q2 2024. However, the UK business segment remained profitable with adjusted EBITDA of £0.3 million.
The company maintained customer and assets under administration retention rates above 95%, demonstrating strong customer loyalty despite macroeconomic uncertainties affecting consumer sentiment.
"We maintained our strong growth trajectory through Q2 2025, delivering another period of successful results," said Romi Savova, CEO of PensionBee, in the press release statement.
PensionBee continued its US market expansion, which began in 2024 in partnership with State Street (NYSE:STT). The company reported early traction with its Safe Harbor IRA offering for employers and achieved 5% prompted brand awareness in the US market.
The company reaffirmed its financial guidance, maintaining ambitions to reach over £100 million in group revenue by year-end 2029 and exceed £250 million by year-end 2034. PensionBee aims to achieve an adjusted EBITDA margin of approximately 20% by 2029, increasing to around 50% by 2034.
For the first half of 2025, PensionBee increased its UK marketing investment by 30% year-on-year to £7.6 million, which contributed to record levels of brand awareness at 59% prompted and 25% unprompted.
PensionBee is listed on the London Stock Exchange (LON:LSEG).
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