Klarna shares plunge on guidance cut, management departures

(Sharecast News) - Klarna shares tanked on Tuesday after the payments group lowered its full-year volume outlook and announced departures of its chief financial and marketing officers.

The stock was down around 19% at $15.82 shortly after the New York open, compared with Monday's closing price of $19.51.

The sell-off came as Klarna cut its 2026 gross merchandise volume guidance to between $149bn and $151bn, from more than $155bn previously, citing around $600m of currency translation effects and a "more measured view" of volumes in Germany, its largest market by volume. Revenue is now expected at $4.08bn to $4.16bn.

Sentiment was also hit by news that chief financial officer Niclas Neglén and chief marketing officer David Sandström will leave their roles in early 2027. Neglén has served as CFO for six years and Sandström as CMO for nine.

Klarna said both would remain in post through the transition, while a search for a New York-based CFO was already underway.

The company said neither of the "planned transitions" resulted from any disagreement over its operations, policies or practices.

The announcements overshadowed strong second-quarter growth, with GMV rising 18% year-on-year to $36.6bn and revenue increasing 27% to $1.04bn. Transaction margin dollars jumped 42% to $446m, while adjusted operating income rose 214% to $91m.

Klarna swung to operating income of $27m from a $46m loss a year earlier, while net income was $9m, compared with a $53m loss.

"Over 120 million consumers now use Klarna, and each is using it for more of their everyday spend - revenue per active consumer grew 24%," said chief executive Sebastian Siemiatkowski.

"That deepening engagement is why transaction margin dollars grew 42%, well ahead of revenue and volume. We measure our progress in transaction margin dollars."