OPay swings to profit in FY2025 as revenue surges 161% to $536.3 million

African fintech firm OPay Limited turned a profit in the fiscal year 2025 after posting a loss the previous year. The company reported a net profit of $72.47 million in 2025, up from a $50.98 million loss in 2024. Revenue surged 161% to $536.25 million from $205.73 million in 2024. This growth was driven by strong transaction volumes, user growth, and expansion in lending.

Operating income also turned positive, reaching $107.10 million in 2025, compared to a $35.10 million loss in 2024. Non-GAAP EBITDA improved to a $113.15 million profit, with an EBITDA margin of around 21.1%. The company's Q4 2025 DAU-to-MAU ratio stood at 57.8%, and 70% of Nigerian wallet monthly active users were using more than five products.

Lending saw significant growth, with new loans originating up 285% to $938.3 million, and unique borrowers in Nigeria doubling to 4.6 million. Monthly average revenue per user increased 56% from $0.90 to $1.40. OPay's total assets grew 77% to $1.49 billion, and technology and development expenses declined as a percentage of revenue.

Despite operating in Nigeria, Indonesia, Egypt, and Pakistan, Nigeria remains the primary revenue source. OPay provides payments, savings, credit, and other financial services and holds licenses in Nigeria as both a Mobile Money Operator and Microfinance Bank. The company is preparing for an IPO on the New York Stock Exchange.