Klarna Q2 2026 Earnings and Outlook
Klarna Group plc (NYSE: KLAR) reported second‑quarter 2026 revenue of $1.04 billion, a 27 % year‑over‑year increase and above the analyst consensus of $992.82 million. Adjusted earnings per share were $0.01, beating the consensus estimate of a loss of $0.05 per share.
Despite the strong quarter, the company lowered its full‑year 2026 revenue guidance to a range of $4.08 billion to $4.16 billion, with a midpoint of $4.12 billion, which falls short of the consensus forecast of $4.42 billion. The reduction reflects roughly $600 million of currency‑translation headwinds and a more cautious outlook for volumes in Germany, Klarna’s largest market by volume.
Transaction‑margin dollars (TMD) grew 42 % YoY to $446 million, representing 42.8 % of revenue. Accordingly, Klarna raised its full‑year TMD guidance to $1.62 billion‑$1.65 billion, equating to approximately 1.09 % of gross merchandise volume (GMV) versus the prior outlook of “greater than 1.04 %”. Adjusted operating‑income guidance for the full year remains at $280 million‑$300 million, largely unchanged from prior expectations.
CEO and co‑founder Sebastian Siemiatkowski said the company now serves over 120 million consumers, with revenue per active consumer up 24 %. Gross merchandise volume reached $36.6 billion, up 18 % YoY, while the number of merchants on the platform increased 54 % YoY to more than 1.2 million.
For the third quarter, Klarna projects revenue of $940 million‑$980 million and adjusted operating income of $5 million‑$15 million.
Leadership transitions were announced: Chief Financial Officer Niclas Neglén, who has held the role for six years, and Chief Marketing Officer David Sandström, in post for nine years, will remain in their current positions through the transition period, with a search underway for a new, New‑York‑based CFO effective early 2027.
Goldman Sachs analysts noted that a “2H volume reset” could pressure the share price and expressed concern over the implied TMD margin of 1‑1.1 % in the second half, compared with 1.22 % in the first half, citing some accounting noise from fair‑value adjustments. Analyst Will Nance echoed that the volume guidance was partially expected but the weaker TMD margin outlook could keep the stock under pressure.