Klarna reported a Q1 net profit of $1 million.
This result marks a turnaround from a $99 million loss in the prior year. Revenue increased 44% year-over-year to $1.0 billion. This performance surpassed analyst expectations.
Gross Merchandise Volume (GMV) rose 33% to $33.7 billion. The U.S. market drove results with 39% growth. Active consumers grew 21% to 119 million. The merchant network expanded 49% to over one million partners.
CEO Sebastian Siemiatkowski stated the company executed well across all business lines. Klarna issued a second-quarter forecast for revenue and GMV that fell below analyst estimates.