Peppermint Innovation Limited reported a modest 4% revenue increase for FY25 alongside a 56% wider net loss, driven by rapid user growth and strategic divestments. The company’s operational momentum contrasts with auditor concerns over its financial sustainability.
- 4% revenue growth to $2.133 million in FY25
- Net loss widened 56% to $1.732 million
- PCM App users surged 658% to over 51,000
- BizmoLoan disbursements increased 44-fold
- Divestment of Peppermint Intelligence Limited yielded AUD 1.2 million annual savings
Strong Operational Growth Amid Financial Challenges
Peppermint Innovation Limited’s FY25 results reveal a company in the throes of rapid operational expansion but grappling with widening losses and liquidity concerns. Revenue edged up 4% to $2.133 million, reflecting growth in its fintech platforms, particularly the PCM App and bizmoLoan services.
The standout metric is the explosive increase in PCM App registered users, which climbed from 6,756 in September 2024 to 51,195 by June 2025, a staggering 658% jump. Transaction volumes and values on the platform also soared, with transaction value increasing more than twenty-one times to Php 433 million, underscoring strong market adoption in the Philippines.
Loan Disbursements and Technology Integration Drive Momentum
BizmoLoan, Peppermint’s micro-lending arm, disbursed Php 15.75 million in FY25, up over forty-four times from the previous year. Loan approvals quadrupled from 389 in Q1 to 1,528 in Q4, supported by a proprietary AI-based credit scoring model piloted during the year. This technology aims to accelerate approvals while enhancing loan quality, with full deployment expected in FY26.
Further bolstering its fintech ecosystem, Peppermint integrated its Bizmoto Wallet with InstaPay for real-time transfers, with PESONet integration nearing completion and QRPH payment functionality slated for early FY26. These enhancements signal the company’s commitment to seamless digital payments in underserved Philippine markets.
Strategic Divestment and Cost Savings
In December 2024, Peppermint divested Peppermint Intelligence Limited, a move that recovered acquisition and operational costs and is expected to save the company over AUD 1.2 million annually. This divestment aligns with a strategic focus on core fintech operations and improving financial sustainability.
Auditor Flags Going Concern Uncertainty
Despite operational progress, the company reported a net loss of $1.732 million, a 56% increase from the prior year, and negative net tangible assets per share. The auditor issued an unmodified opinion but highlighted material uncertainty regarding Peppermint’s ability to continue as a going concern, citing net losses, cash outflows, and net current liabilities nearing $1 million.
Key audit matters included revenue recognition complexities, accounting for convertible notes issued during the year, and the treatment of discontinued operations following the divestment. The company did not declare any dividends, reflecting a cautious approach to capital management amid financial pressures.
Looking Ahead
Peppermint Innovation’s FY25 results paint a picture of a fintech company scaling rapidly in user engagement and transaction volumes, yet still navigating the financial challenges typical of growth-stage enterprises. The coming year will be critical as the company seeks to leverage its AI credit scoring technology, complete payment integrations, and convert operational gains into profitability and improved balance sheet health.
Bottom Line?
Peppermint’s impressive user and transaction growth must soon translate into financial stability to overcome looming going concern risks.
Questions in the middle?
- Will the AI credit scoring model materially improve loan book quality and reduce losses in FY26?
- How will Peppermint manage liquidity and funding needs given ongoing net losses and negative net tangible assets?
- What impact will the completion of payment integrations have on user engagement and revenue growth?