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Investing.com -- Klarna Group on Tuesday delivered another solid quarter as its revenue exceeded analyst expectations. The company’s shares swung between small losses and gains after the report.
For the third quarter, the Stockholm-based financial services firm reported revenue of $903 million, up 26% on a like-for-like basis, and ahead of the $885.59 million consensus.
Gross merchandise volume (GMV) reached $32.7 billion, rising 23% year-on-year and 43% in the U.S.
The company also highlighted rapid uptake of the Klarna Card, which has added 4 million signups since July and accounted for 15% of global transactions in October.
“Q3 was our strongest quarter ever — proof that our AI-driven model is working at scale, with U.S. revenue up 51% and GMV up 43%," said Sebastian Siemiatkowski, CEO and co-founder of Klarna.
"The Klarna Card has taken off with four million sign-ups in four months, and Fair Financing continues to gain market share. While accounting timing creates a short-term profitability lag, we expect transaction margin dollars to increase by over $100 million in Q4 as revenue compounds.”
Following its record Q3 performance, Klarna said it expects an even stronger fourth quarter. For Q4 2025, the company forecasts GMV of $37.5–38.5 billion, against the average analyst estimate of $37.3 billion, and revenue of $1.065–1.080 billion, ahead of the $1.06 billion consensus estimate.
Transaction margin dollars (TMD) for the quarter are expected to be between $390 and $400 million. Analysts on average expected $387 million, according to Wolfe Research.
Commenting on the report, Wolfe analyst highlighted Klarna’s "3Q beat across metrics and 4Q guidance above expectations."
"We look to the call for commentary on 4Q guidance puts/takes, Klarna card trajectory, funding strategy, take rate dynamics, and margins/investment strategy," he wrote.