KLAR Klarna (KLAR) Q2 FY26 earnings call
Klarna delivered a strong second quarter, exceeding guidance across key financial metrics, driven by robust transaction margin dollar growth and operating leverage. The company is strategically expanding its product offerings and partnerships, particularly in the U.S., despite a downward revision to full-year GMV and revenue guidance due to a softer German consumer market and accounting changes. Management remains focused on long-term growth and profitability, with significant investments planned for Q3 to capitalize on the upcoming peak season.
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KLAR operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Active accounts Klarna card | 5M+Third, the Klarna card crossed 5 million active users globally this quarter.Source: earnings call transcript | 6.5MThe Klarna card reached 6.5 million active users across 16 countries, up from 1.3 million a year ago.Source: earnings call transcript | — |
| Payments volume | $33.7BGMV came in at $33.7 billion, revenue at just over $1 billion and transaction margin dollars at $389 million, all accelerated quarter-on-quarter.Source: earnings call transcript | $36.6BTotal GMV in the second quarter was $36.6 billion, up 18% year-over-year.Source: earnings call transcript | +8.6% |
| Payments volume US | $7.1BBy geography, the US grew 39% to $7.1 billion, representing 21% of the total GMV.Source: earnings call transcript | $7.9BThe US delivered GMV of $7.9 billion, up 27% year-on-year and was our fastest-growing large region.Source: earnings call transcript | +11.3% |
| Payments volume Global ex US | $26.6BOur global ex US business grew 31% to $26.6 billion.Source: earnings call transcript | $28.8BGlobal ex US GMV was $28.8 billion, up 15% or 12% on a like-for-like basis.Source: earnings call transcript | +8.3% |
| Payments volume Fair Financing | $4.1BFair Financing, our point-of-sale installment product is scaling rapidly at $4.1 billion, up 138% year-over-year as more merchants adopt it.Source: earnings call transcript | $4.7BThese are fixed term installments, and it's our fastest-growing product, up 82% year-over-year to $4.7 billion, offered by 256,000 merchants now, up from 151,000 when we first spoke to you in November.Source: earnings call transcript | +14.6% |
| Active accounts Fair Financing merchants | 225K225,000 merchants now offer Fair Financing, up from 103,000 a year ago.Source: earnings call transcript | 256KThese are fixed term installments, and it's our fastest-growing product, up 82% year-over-year to $4.7 billion, offered by 256,000 merchants now, up from 151,000 when we first spoke to you in November.Source: earnings call transcript | +13.8% |
| Payments volume Pay in Full | $3.5BPay in Full, our everyday spending product contributed to $3.5 billion.Source: earnings call transcript | $3.6BPay in full contributed $3.6 billion of volume this quarter and subscriptions reached 2 million subscribers.Source: earnings call transcript | +2.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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