Klarna reported its financial result for Q1’23. Revenue reached 4.9 billion SEK (+13 % year-over-year) and the net result was -1.3 billion SEK (-51 %).
With an overall credit losse ratio at 0.37 %, it seems like the “New geographies will behave like Mature geographies” is playing out and the overall story towards profitability is holding up, even if seems like the company will be profitable on a monthly basis earliest in the fall/early winter and not “by summer” (which I read as no later than August) that has been communicated earlier.
To become profitable by summer it seems like revenue growth needs to accelerate or other costs (mainly personell cost) will have to come down. But with an improving business and a better financing market, a few months here or there likely doesn’t matter to Klarna.