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November 7, 2023

Klarna achieved profitability on the way to IPO

The company has yet to determine when and where the long-awaited public listing will take place.

Klarna achieved profitability on the way to IPO

Raison’s portfolio company Klarna has posted excellent financial results for Q3 2023.

  • Operating profit of SEK 130 million compared to -2.1 bn in the previous year.
  • Revenue of SEK 6 billion: +30% to the previous year (4.6 billion).
  • GMV of SEK 243 billion: +22% to the previous year (199 billion).
  • Credit losses of SEK -0.8 billion: -46% to the previous year (-1.5 billion, nearly halved).

The company achieved quarterly profitability for the first time in the last 4 years of rapid growth and scaling. Earlier, CEO Sebastian Siemiatkowski said the company plans to become “monthly profitable” starting in 2023.

At the same time the report was published, it was revealed that Klarna was restructuring and opening a holding company in the UK. A company spokesperson confirmed this is one of the first steps towards the upcoming IPO.

However, the company has yet to make plans to go public soon. It is also not determined which exchange Klarna will choose for listing in the future - NYSE, NASDAQ, or LSE.


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