US EditionKlarna’s First Public Earnings Report: Strong US Growth, ‘Neobanking’ and A.I.
Klarna’s U.S. gross merchandise volume grew 43%, driven by Klarna Card adoption reaching 4 million customers, though the company reported a $95 million net loss this quarter.
- On Nov. 18, Klarna reported its first quarterly earnings as a public company, posting $903 million in revenue versus $882 million expected for the July–September quarter.
- U.S. expansion helped, with the company saying outsized growth and faster uptake of the Klarna Card, which reached more than four million customers and accounted for 15% of transactions by October.
- Gross merchandise volume increased year-over-year, and the merchant base expanded 38% while average revenue per active customer declined about 10%.
- Klarna reported a net loss of $903 million, with shares falling amid market worries over an AI bubble and slowing consumer spending, the company said.
- The CEO framed the business as shifting to a neobank, noting an A.I. assistant introduced last year now performs the work of more than 850 full-time employees and saved Klarna $60 million.
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Klarna is growing rapidly – but so are its losses. This is shown in the company's first quarterly report since its IPO. The payment giant is also taking the opportunity to give a competitor the boot.
Klarna Soars to Record-High Revenue As Merchant Signings Boom
Klarna AB early Tuesday reported a 26% jump in revenue for its September quarter, to $903 million, the highest revenue number in its 20-year history. The Sweden-based company, which maintains major operations in the U.S. market and internationally, said it processed $32.7 billion in transactions for the quarter, up 23%. Klarna reported it swung to an operating loss of $83 million, compared to a profit of $13 million a year ago, as sales and mark…
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