Klarna, the Swedish fintech firm best known for its buy now, pay later services, crashed in premarket trading in New York after it lowered its full-year revenue and gross merchandise value forecasts following a second-quarter active-user miss, overshadowing stronger-than-expected earnings.
The buy-now, pay-later firm now expects 2026 revenue of $4.08 billion to $4.16 billion, down from a previous forecast exceeding $4.34 billion. Gross merchandise value is projected to be $149 billion to $151 billion, compared with earlier guidance of above $155 billion.
Third-quarter revenue is expected to range from $940 million to $980 million, well below the $1.11 billion consensus estimate. The company forecast gross merchandise value of $35 billion to $36 billion, versus expectations of $39.26 billion.
Second-quarter revenue was a bright spot, rising 27% to $1.04 billion and beating estimates, while gross merchandise value reached $36.6 billion. Earnings were 1 cent per share, compared with an expected 6 cent loss. But active users totaled 120 million for the quarter, missing the 122 million estimate.
Klarna cited about $600 million of currency headwinds and a more cautious view of Germany, its largest market by volume. The company left its US outlook unchanged, with US gross merchandise value rising 27% during the quarter.
Klarna noted that "the U.S. remains Klarna's fastest-growing large region."
Klarna also said CFO Niclas Neglén will step down in early 2027 after six years in the role.
Nordea analyst Thomas Nilsson
