Klarna Reaches 100 Million Consumers Amid Rapid Growth

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Klarna Reaches 100 Million Consumers Amid Rapid Growth
Photo: Magnus Lejhall/TT

The payment service Klarna went back in the first quarter, but has got pace on the increase. In April, Klarna reached for the first time up to the milestone 100 million active consumers globally, our fastest growth rate in two years", the company writes in a press release.

Klarna reports a loss of 90 million dollars (approximately 870 million kronor) for the first quarter of the year. This can be compared to the loss of 45 million dollars during the corresponding quarter last year.

The figures have excluded the effects of the sale of the unit Klarna Checkout.

The loss is explained, among other things, by stock-related compensation to employees of 59 million dollars (approximately 570 million kronor) during the quarter.

Revenues increased by 13 percent

However, the adjusted operating result ended up at plus 3 million dollars, which can be compared to a loss of 2 million a year earlier.

The revenues increased by 13 percent – 15 percent if looking at comparable units – to 701 million dollars in total.

In addition to the lift in consumer-led, the number of merchants using Klarna's payment services has risen significantly, to 724,000 globally, according to the company's report. This is 27 percent more than during the first quarter last year.

"Our AI-first strategy creates exceptional returns," writes co-founder and CEO Sebastian Siemiatkowski in a comment in the report.

He adds that Klarna outperforms competitors and rapidly expands its merchant network, creating new products that will change how money is handled.

No details about the stock exchange introduction

Klarna received a green light during the quarter to list its share on the New York stock exchange, but has so far not presented a date or other details about the potential stock exchange introduction.

The payment giant has also secured several major agreements during the quarter that opens up for larger market shares in the USA ahead, including with retail giant Walmart and auction site Ebay in the USA.

"We are closely monitoring the changes in the macroeconomic environment," writes Klarna in the report.

"Klarna is still well-positioned to quickly adapt if needed," adds the company.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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