Swedish fintech Klarna surpasses Wall Street expectations with $903 million in third-quarter revenue. The company, which went public in September, reported a net loss of $95 million, a drop from last year’s $12 million profit. U.S. growth boosts gross merchandise volume to $32.7 billion.

Klarna’s features like the Klarna Card and fair financing contribute to U.S. gains, with the Klarna Card reaching over four million customers since its July launch. CEO Siemiatkowski emphasizes the company’s focus on saving time, money, and financial control for customers, aiming to double fair financing users.

Despite a 38% increase in merchants to 850,000, Klarna’s revenue per active customer declines by about 10%. The company anticipates gross merchandise volume between $37.5 and $38.5 billion for the fourth quarter, with revenues expected to range from $1.065 million to $1.08 million.

Recent market volatility has seen Klarna shares drop by more than one-third from their highs. CEO Siemiatkowski remains cautious about the impact of the AI bubble on consumer spending habits, emphasizing Klarna’s focus on artificial intelligence to improve customer service efficiency.

Klarna has leveraged artificial intelligence to reduce its workforce by 40%, with plans to further integrate AI into its operations. Siemiatkowski stresses the importance of maintaining a human connection in customer service, despite the rise of AI in the industry. Other tech giants like Palantir and Salesforce are also cutting workforces due to AI adoption.

Read more at CNBC: Klarna (KLAR) Q3 earnings report 2025