Now that’s Big, Klarna (NYSE: KLAR) reports first $1 billion quarter with 58% U.S. revenue growth

Klarna (NYSE: KLAR) reported fourth quarter 2025 revenue of $1.082 billion, marking its first billion-dollar quarter and representing 38% year-over-year growth that exceeded company guidance. The digital payments and banking company’s gross merchandise volume reached $38.7 billion, up 32% year-over-year and above the top end of its guidance range.

The company’s U.S. operations drove significant growth with revenue increasing 58% year-over-year, accelerating from 51% growth in the third quarter. Klarna now serves 29 million U.S. consumers, with 11% of the U.S. population having used the service in the past 12 months.

Banking consumers, defined as users who actively use Klarna’s financial services beyond payments, doubled to 15.8 million year-over-year. These banking consumers generate $107 in revenue per user compared to $30 for average consumers. The company reported 4.2 million active Klarna Card users, an increase of 1.9 million quarter-over-quarter.

“We’ve been executing on a clear plan: acquire customers through seamless payments, then deepen those relationships into banking,” said Sebastian Siemiatkowski, CEO and Co-Founder of Klarna. “The number of our banking consumers has doubled in the past year, generating more than three times the revenue of our average consumers.”