Klarna Reports Pre-Tax Loss of $344 Million for the First Nine Months of 2021

Klarna, one of the most highly valued private fintechs globally, has published its key financials for the first nine months of 2021, showing a losses balloon amid surging demand for buy now, pay later services.

According to the company, its pre-tax loss for the nine months totaled 3.1 billion Swedish krona ($344 million), a fourfold increase from the 800 million krona it lost in the same period a year ago. The vast bulk of the losses came from general administrative expenses, which amounted to 9.5 billion krona, up from 5.9 billion krona last year.

In addition, the company reported net operating income of 9.8 billion krona from January to September, up 40% from last year. Its latest value was at $46 billion.

Klarna, which offers innovative BNPL services to clients, has expanded its services significantly in the UK and the US in the last few months. Klarna has entered 9 new markets since the start of 2020. Additionally, the company has increased its worldwide users to more than 90 million.

Earlier this year, Klarna announced that it has onboarded 20 million US cumstomers​ and has over 4 million active users every month.