NYSE$KLAR
Klarna Group plc · Q4 2025 earnings
Q4 2025 earnings · · Before market open
Briefing
Klarna reported its first billion-dollar revenue quarter with strong GMV growth and improved credit metrics in Q4 2025.
Klarna delivered record quarterly revenue of $1.082 billion and GMV of $38.7 billion in Q4 2025, driven by rapid adoption of Fair Financing and Klarna Card. U.S. growth accelerated, banking consumers doubled year-over-year, and credit loss provisions improved sequentially.
- Revenue increased 38% year-over-year to $1082000000, marking the first billion-dollar quarter.
- GMV rose 32% year-over-year to $38700000000, exceeding guidance.
- Active Klarna Card users reached 4200000, up 1900000 quarter-over-quarter.
- Provision for credit losses declined to 0.65% of GMV, improving from 0.72% in Q3.
Headline financials
Revenue & EPS history
Klarna Group plc · Revenue · Quarterly
$1.08B
Revenue by segment
Klarna Group plc · $903M total across 2 segments · Q3 2025
- Transaction and service revenue$634M—70.2%
- Interest income$269M—29.8%
Forward guidance
For Q1 2026, Klarna guided GMV of $32000000000 to $33000000000 and revenue of $900000000 to $980000000, with continued growth in banking products and partnerships.
Tailwinds
- Q1 2026 GMV expected between $32000000000 and $33000000000.
- Q1 2026 revenue guided to $900000000–$980000000.
- Adoption of Fair Financing and Klarna Card expected to remain key growth drivers.
- Expansion of default-on partnerships with Worldpay and JP Morgan Payments.
- Additional forward-flow agreements planned to support capital-light growth.
Headwinds
- Transaction margin dollars growth expected to moderate due to comparables.
- Gradual merchant activation in new partnerships.
- Profitability may fluctuate due to timing of receivable offloading.
- Assumes modest declines in benchmark interest rates.
- FX fluctuations may impact reported results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 2 quarterly earnings reports · overlaid with Q4 2025
-18.1%
Avg return
Earnings day
-21.3%
Avg return
5 days after
-23.0%
Avg return
30 days after
0%
0 / 2 earnings
Positive
-9.3%
Q3 2025
Best reaction
-26.9%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -26.9% | -26.0% | -33.5% | |
| Q3 2025 | -9.3% | -16.7% | -12.6% |
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