PensionBee Group (LSE:PBEE) reported group revenue of £26.4m for the six months to 30 June, up 40% from £18.9m a year earlier.
The London-based online retirement savings provider grew its group annual run rate revenue by the same margin to £55.8m, reflecting what it called the scalable, recurring nature of its revenue model.
Group assets under administration rose 37% to £8.6bn, supported by net flows of £493m, up from £423m in the first half of 2025.
Invested customers grew 14% to 327,000, helped by UK prompted brand awareness reaching a record 62%.
Group adjusted EBITDA loss narrowed 61% to £1.1m from £2.9m a year earlier, with UK last-twelve-months adjusted EBITDA up 141% to £7.7m, a 15% margin.
The US business remained loss-making, with adjusted EBITDA of £(2.6)m as PensionBee continues investing in that market.
Group profit before tax was £(2.9)m, though profit after tax reached £8.2m following recognition of a deferred tax asset tied to trading losses carried forward.
Excluding that tax item, basic earnings per share was (1.24)p, against (2.14)p a year earlier.
Cash stood at £31m, down from £34m in the prior-year period.
"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", said chief executive Romi Savova, adding that the US business is "working towards our initial goal of $1bn of AUA."
News Intelligence what this means for the company
PensionBee reported 40% revenue growth to £26.4m in H1 2026, with assets under administration rising 37% to £8.6bn on net inflows of £493m. The UK business swung to a 15% adjusted EBITDA margin (£7.7m LTM), narrowing group losses 61% to £1.1m, though the US operation remains unprofitable at £(2.6)m adjusted EBITDA as the company invests for scale.
The UK core is now materially profitable with strong operational leverage, validating the scalable platform thesis. Cash of £31m covers near-term losses, but the US drag (£2.6m EBITDA loss) and modest cash decline (£34m to £31m) mean the path to group profitability depends on US traction toward the stated $1bn AUA goal.
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