Klarna doubles losses in first quarter as IPO remains on hold

Klarna saw its losses leap successful the archetypal 4th arsenic the fashionable bargain now, wage aboriginal steadfast applies the brakes connected a hotly anticipated U.S. archetypal nationalist offering.

The Swedish payments startup said its nett nonaccomplishment for the archetypal 3 months of 2025 totaled $99 cardinal — importantly worse than the $47 cardinal nonaccomplishment it reported a twelvemonth ago. Klarna said this was owed to respective one-off costs related to depreciation, share-based payments and restructuring.

Revenues astatine the steadfast accrued 13% year-over-year to $701 million. Klarna said it present has 100 cardinal progressive users and 724,00 merchant partners globally.

It comes arsenic Klarna remains successful intermission mode regarding a highly anticipated U.S. IPO that was astatine 1 signifier acceptable to worth the SoftBank-backed institution astatine implicit $15 billion.

Klarna put its IPO plans connected hold past period owed to marketplace turbulence caused by President Donald Trump's sweeping tariff plans. Online ticketing level StubHub besides enactment its IPO plans connected ice.

Prior to the IPO delay, Klarna had been connected a selling blitz touting itself arsenic an artificial intelligence-powered fintech. The institution partnered up with ChatGPT shaper OpenAI successful 2023. A twelvemonth later, Klarna utilized OpenAI exertion to make an AI lawsuit work assistant.

Last week, Klarna CEO Sebastian Siemiatkowski said the institution was capable to shrink its headcount by astir 40%, successful portion owed to investments successful AI.