Quarterly profit of Klarna 2011-2023, in domestic currency and USD
Klarna's profitability reached positive figures between Q3 2022 and Q3 2023, after the company shifted its focus during the year. Profits — which Klarna reports as "net result" — were worth a negative 10.2 billion Swedish krona for the full year 2022, or a negative one billion U.S. dollars when compared against the average SEK/USD rate. Other sources quote variants of this number — 10.4 billion Swedish krona or 10.5 billion Swedish corona, likely due to a different FX rate used. Nevertheless, Klarna was not a profitable company. This accelerated in Q4 2021 and Q1 2022, when economic uncertainty and the war in Ukraine caused consumer sentiment to shift. This led to an announcement in May 2022 that the BNPL company would cut its workforce by roughly 10 percent.