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Klarna’s revenue increased in the third quarter

Klarna announced its financial results for 3Q 2022. The company managed to significantly increase its revenue and GMV (Gross Merchandise Volume), despite the general slowdown in the online retail sector.

  • +22% — GMV increased YoY ($60.2 B).
  • +22% — Revenue increased YoY ($1.4B).
  • -42% — Operating losses decreased QoQ.
  • -12% — Credit losses decreased QoQ (0,7% of GMV).

The financial results for the US market are even better: +92% in GMV (YoY) and -16% in credit losses. 

According to Klarna’s CEO Sebastian Semiatkowski, «the company has made huge progress on its path to profitability, which it expects to hit on a monthly basis in the second half of 2023». 

This is the news from Element GTPP’s portfolio company. 

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