Klarna, the AI-powered global payments network and shopping assistant, has announced its financial results for the first nine months of 2024. In Q3, the company’s net profit was SEK 216 million, up 57 percent year-on-year. This marks the second consecutive profitable quarter for the company.
“We’re back in familiar territory: profit and growth, just like the old days,” said Sebastian Siemiatkowski, CEO of Klarna. “With our exciting new collaborations with Worldpay, Apple Pay, Google Pay and Adyen, we’re closer than ever to making Klarna available at every checkout. We’re gearing up for a strong holiday season, and our AI-powered products will help consumers save time, money and reduce financial worry.”
Strong Performance and Continued Growth
Net income reached SEK 216 million in Q3 2024, a 57 percent improvement as Klarna continues to compound growth and enhance efficiencies through AI innovation. Net income (loss) for the first nine months of 2024 was SEK 116 million, a 94 percent improvement compared to last year. Revenue increased by 23 percent in the first nine months, driven by a 16 percent growth in gross merchandise volume (GMV) and an increased revenue take rate. The US market remains a key growth driver, with revenue up 33 percent, supported by major merchant partnerships with brands like Fashion Nova, Expedia and Uber.
Strategic partnerships set to accelerate growth
Klarna is posi itself as a global payment option. The company is set to become a default option through Worldpay and has expanded its partnership with Adyen, reaching hundreds of thousands more merchants and 450,000 in-store terminals. Klarna is launching in the US and UK with Apple Pay and will soon be available in Canada. These partnerships will help Klarna capture a larger share of the $450 billion payments revenue opportunity.
More brands are choosing Klarna as their global payment partner; recent launches include Zoom and Lenovo, which simultaneously brought flexible payments to 15 markets.
Rapid adoption of next-gen digital banking products
Klarna balance, a newly launched product tapping into retail banks’ core business: everyday spending and saving, has attracted 1.6 million users in just three months. Klarna cashback has driven nearly $5 million in rewards, putting money back into customers’ Klarna balance accounts. The cashback offers have also boosted merchant sales by up to 30 percent, supporting GMV growth and affiliate partnerships.
