Klarna (KLAR): down two-thirds in a year, a small quarterly profit, lower guidance, and a $10 million purchase through Flat Capital

Klarna, which calls itself “the everyday finance network” and listed on the New York Stock Exchange in September 2025, closed at $14.06 on October 9, 2026, worth $5.3 billion. The stock is down 66.0% over twelve months, 51.4% in 2026 and 30.5% since June 30; its highest close since listing was $45.48 on September 15, 2025, and its lowest $12.27 on March 27, 2026.

Growing, briefly profitable, and guiding lower

In the second quarter of 2026, gross merchandise volume reached $36.6 billion (+18%; +27% in the U.S.), revenue $1.042 billion (+27%) and transaction margin dollars — revenue minus processing, credit-loss and funding costs, the measure the company says it focuses on — $446 million (+42%). Net income was $9 million, against a $53 million loss a year earlier; provisions for credit losses were 0.52% of volume. Klarna reports more than 120 million active consumers and 1.2 million merchants.

At the same time, it lowered its 2026 volume guidance to $149 billion to $151 billion, from more than $155 billion, citing about $600 million of currency translation and a more measured view of some of its volume, and its revenue guidance to $4.08 billion to $4.16 billion, from more than $4.34 billion. For the third quarter it guided to adjusted operating income of only $5 million to $15 million, as marketing spending lands ahead of the volume it is meant to bring. The filings do not tie any of this to the stock price.

A purchase through Flat Capital

On August 26, 2026, a Form 4 for chief executive and co-founder Sebastian Siemiatkowski reported the purchase of 692,506 Klarna shares at an average of $14.37, about $9.9 million. The filing lists the shares as owned indirectly through Flat Capital AB (publ), an investment company listed in Sweden, and it does not say how much of Flat Capital he owns. That is why this site’s ranking of insider purchases counts it as a company’s money rather than a personal purchase. At the October 9 close the shares were 2.1% below the purchase price.

Funds

Only four of the 38 managers held Klarna at the end of June, all quantitative or multi-strategy funds, and Chase Coleman’s Tiger Global sold its 175,000 shares. Six had held it at the end of September 2025, right after the listing. Daily data is on the Klarna page. Not investment advice.