Klarna Group reported revenue of USD 1.082 billion for the fourth quarter of 2025, a 38% increase compared with the same period a year earlier and the first time the Swedish buy-now-pay-later company has generated more than one billion dollars in revenue within a single quarter. The milestone, disclosed in Klarna's full-year 2025 results published on 19 February 2026, marks a decisive point in the company's growth trajectory as it prepares for a public listing that has attracted considerable attention from global investors and financial markets.
Gross merchandise volume for the fourth quarter reached USD 38.7 billion, a 32% increase year on year, reflecting both an expanding merchant network and rising transaction frequency among Klarna's growing customer base. The US market was the standout performer in the quarterly results, with American revenue growing 58% year on year and US gross merchandise volume rising 43% over the same period, supported by a customer base of 29 million consumers across the country — a figure that illustrates how significantly Klarna's American operation has scaled since it began its push into the world's largest consumer market.
US EXPANSION DRIVES RECORD PERFORMANCE
Klarna's US business has become one of the most closely followed growth stories in global fintech. The company has been expanding its merchant partnerships aggressively across North America, adding major retailers and deepening its penetration in high-frequency spending categories such as travel, electronics, and fashion. The 58% revenue growth achieved in the US during the fourth quarter demonstrates the business is scaling rapidly in a market that management has consistently identified as central to Klarna's ambitions for long-term global leadership in consumer finance.
The 29 million US customers now on Klarna's platform represents a substantial base from which to deepen monetisation through higher transaction frequency, increased spend per transaction, and additional financial products. The company has been broadening its offering beyond instalment payment plans to include a wider range of consumer finance tools, including the Klarna card and savings features, which are designed to increase daily engagement with the app and lift revenue per user over time by making Klarna a more central part of customers' day-to-day financial lives.
FULL-YEAR FIGURES CONFIRM STRONG TRAJECTORY
For the full year 2025, Klarna reported gross merchandise volume of USD 127.9 billion, a 22% increase on 2024, and total revenue of USD 3.5 billion, up 25% year on year. The full-year figures confirm that the company's growth trajectory is well established across a wide range of markets and product lines, and that the record fourth quarter was not an anomaly driven by a single large merchant relationship or a temporary surge in promotional spending.
Klarna's full-year 2025 results are published against the backdrop of the company's ongoing preparations for an initial public offering that is widely expected to take place in 2026 and that would represent one of the most significant listings in the European technology and fintech space in recent years. The record quarterly revenue figure, double-digit annual growth, and the strength of the US expansion are all likely to feature prominently in the investment case that Klarna presents to prospective public market investors as it moves through the pre-IPO process.