Klarna, the global flexible payments provider, reported robust financial results for the second quarter of 2025, marking its fifth consecutive quarter of operational profitability.
The company achieved $823 million in revenue, with 111 million active consumers and 790,000 merchant partners worldwide. Notably, revenue per employee surged to $1 million, nearly tripling the figure from two years ago.
Continued profitability and growth
Q2 2025’s adjusted operating income reached $29 million, up more than $26 million from the previous quarter. Group GMV grew 19% year-over-year, while revenue growth accelerated to 20% like-for-like, up from 15% in Q1. The U.S. market saw particularly strong performance, with revenue rising 38% YoY.
Klarna’s growth is being fueled by an expanding merchant ecosystem. Over the past 12 months, 202,000 new merchants joined the network, including integrations via Stripe.
Strategic partnerships, such as OnePay Later at Walmart, have positioned Klarna as a key player in term financing, while eBay has expanded its partnership to millions of U.S. consumers, exceeding early expectations.
Upcoming integrations with Worldpay, Nexi, and JPMorgan Payments, which collectively process over $5 trillion annually, are expected to further strengthen Klarna’s market position.
Healthy consumer behavior
Klarna reported a record number of transactions paid on time or early in Q2, with overall credit losses remaining low at 0.56% of GMV. Delinquency rates declined, highlighting the stability of Klarna’s global consumer base.
For Buy Now, Pay Later (BNPL) products, the global delinquency rate fell to 0.89%, down 14 basis points from the previous year. Delinquencies on fixed-term “Fair Financing” products also decreased slightly to 2.23%.
Expanding Klarna Card
The company launched a U.S. pilot of the enhanced Klarna Card in Q2, allowing consumers flexible spending without revolving debt or interest fees. Accepted at over 150 million merchants worldwide, the card is already becoming a primary payment method in Klarna’s mature European markets.
