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How much progress is Klarna making toward profitability?
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Klarna, a well-known private tech company working in the consumer credit and e-commerce market, dropped its 2022 annual report today. The document contains a wealth of information about its financial performance and recent operating philosophy. We care about both.
The former startup has had a publicly difficult few quarters. From seeing its valuation cut sharply to layoffs, the news around Klarna has been negative for some time. Now that we have the company's financial data, we can take a more detailed look at how it performed amid all the noise.
Most coverage of Klarna's results focused on its full-year totals, which show rising deficits and net losses growing more quickly than revenue. The rest looked at quarterly trends, which can paint a more nuanced picture of a company's trajectory.
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Our work today is simple: We need to parse the company's growth compared to its market, and then we need to dig into its quarterly profitability to see how well it is managing to control costs and work toward profitability. This is where operating philosophy comes into play, as you'll see.
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