Klarna off to a strong start for the year. My own optimistic expectations, as well as consensus, were exceeded, and surprisingly they even achieved profitable growth. This ticker remains a risky bet, but there might be an opportunity for brisk growth here.
Q1 2026 Highlights
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GMV: $33.7 billion (+33% YoY); U.S. +39%, ex-U.S. +31%
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Revenue: $1.0 billion (+44% YoY)
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Transaction Margin Dollars: $389 million (+44% YoY)
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Adjusted operating profit: $68 million, up from $3 million a year ago
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Operating income: 17 million versus a loss of (90) million in Q1 2025
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Net income: 1 million versus a net loss of (99) million in Q1 2025
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Provisions for credit losses: 0.55% of GMV versus 0.54% in Q1 2025
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Active consumers: 119 million (+21% YoY)
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Merchants: 1 million+ (+49% YoY)