Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Audit Information [Abstract] | |
| Auditor Name | Ernst & Young AB |
| Auditor Firm ID | 1433 |
| Auditor Location | Stockholm, Sweden |
Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of comprehensive income [abstract] | |||
| Net profit (loss) | $ (273) | $ 21 | $ (244) |
| Foreign currency translation differences | |||
| Exchange differences on translation of foreign operations | 369 | (151) | 58 |
| Reclassification of cumulative translation adjustments | 0 | (18) | 0 |
| Consumer receivables at fair value through OCI | |||
| Net changes in fair value for the year | 11 | 0 | 0 |
| Changes in expected credit losses | 27 | 0 | 0 |
| Reclassification to the statement of profit and loss | (25) | 0 | 0 |
| Other comprehensive income (loss) for the year | 381 | (169) | 58 |
| Total comprehensive income (loss) | 108 | (148) | (186) |
| Comprehensive income (loss) attributable to: | |||
| Comprehensive income, attributable to owners of parent | 87 | (165) | (191) |
| Non-controlling interests | 21 | 11 | 0 |
| Other equity holders | 0 | 6 | 5 |
| Total comprehensive income (loss) | $ 108 | $ (148) | $ (186) |
Consolidated Statements of Shareholders’ Equity - USD ($) $ in Millions |
Total |
Equity excluding non-controlling interests |
Share capital |
Additional paid in capital |
Reserves |
Other equity instruments |
[1] | Retained earnings |
Non-controlling interests |
[1] | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Beginning balance at Dec. 31, 2022 | $ 2,327 | $ 2,321 | $ 0 | $ 4,577 | $ (369) | $ 61 | $ (1,948) | $ 6 | ||||||
| Changes in equity [abstract] | ||||||||||||||
| Net loss | (244) | (244) | (244) | |||||||||||
| Exchange differences on translating foreign currencies | 58 | 58 | 58 | |||||||||||
| Reclassification | 0 | |||||||||||||
| New share issue | 47 | 47 | 47 | |||||||||||
| Share-based payments | 47 | 47 | 1 | 46 | ||||||||||
| Redemption of other equity instruments | (31) | (31) | (24) | (7) | ||||||||||
| Changes in non-controlling interests | (7) | (6) | (6) | (1) | ||||||||||
| Ending balance at Dec. 31, 2023 | 2,197 | 2,192 | 0 | 4,625 | (311) | 37 | (2,159) | 5 | ||||||
| Changes in equity [abstract] | ||||||||||||||
| Net loss | 21 | 21 | 21 | |||||||||||
| Exchange differences on translating foreign currencies | (151) | (150) | (150) | (1) | ||||||||||
| Reclassification | (18) | (18) | (18) | |||||||||||
| New share issue | 21 | 21 | 21 | |||||||||||
| Share-based payments | 64 | 64 | 64 | |||||||||||
| Issuance of other equity instruments | 124 | 136 | 142 | (6) | (12) | |||||||||
| Changes in non-controlling interests | (1) | (180) | (179) | (1) | 179 | |||||||||
| Ending balance at Dec. 31, 2024 | 2,257 | 2,086 | 0 | 4,646 | (479) | 0 | (2,082) | 171 | ||||||
| Changes in equity [abstract] | ||||||||||||||
| Net loss | (273) | (294) | (294) | 21 | ||||||||||
| Exchange differences on translating foreign currencies | 369 | 379 | 379 | (9) | ||||||||||
| Reclassification | 0 | |||||||||||||
| Consumer Receivables Fair Value through OCI | 12 | 12 | 12 | |||||||||||
| Capital reduction | [2] | (1) | (1) | (4,579) | 4,579 | |||||||||
| New share issue | 192 | 192 | 360 | (168) | ||||||||||
| Share-based payments | 135 | 135 | 135 | |||||||||||
| Tax effects on share based payments | (18) | (18) | (18) | |||||||||||
| Other equity instruments coupons paid | 0 | 21 | 21 | (21) | ||||||||||
| Changes in non-controlling interests | 12 | (4) | (1) | (3) | 16 | |||||||||
| Ending balance at Dec. 31, 2025 | $ 2,684 | $ 2,507 | $ 0 | $ 427 | $ (90) | $ 0 | $ 2,170 | $ 177 | ||||||
| ||||||||||||||
Consolidated Statements of Shareholders’ Equity (Parenthetical) - USD ($) $ in Millions |
1 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
Nov. 30, 2025 |
Dec. 31, 2025 |
||||
| Capital reduction | [1] | $ 1 | |||
| Retained earnings | |||||
| Capital reduction | $ 4,600 | (4,579) | [1] | ||
| Additional paid in capital | |||||
| Capital reduction | [1] | $ 4,579 | |||
| |||||
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of cash flows [abstract] | |||
| Adjustment for currency translation differences from other comprehensive income | $ 0 | $ 18 | $ 0 |
Corporate information |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Corporate information and statement of IFRS compliance [abstract] | |
| Corporate information | Corporate information Klarna Group plc is a public company with limited liability incorporated under the laws of England and Wales. The consolidated financial statements consist of Klarna Group plc and its direct and indirect subsidiaries (collectively, “Klarna,” the “Company,” the “Group,” “we,” “us,” or “our”). Klarna is a technology-driven payments company, with operations spanning multiple countries. We connect consumers and merchants with comprehensive payment solutions and tailored advertising solutions, both online and offline. Our payment solutions provide consumers with more control and flexibility over their payments. On September 10, 2025, the Company completed its initial public offering (“IPO”) of 5,000,000 ordinary shares, completed the sale of additional 29,311,274 ordinary shares from “selling shareholders” and on September 22, 2025, completed the sale of 5,146,691 of additional ordinary shares to the underwriters pursuant to their option to purchase additional shares, at an offering price of $40.00 per share. The Company raised net proceeds of $169 million through the IPO, net of underwriting discounts and other offering costs of $22.41 million. Directly attributable transaction costs related to the issuance of new ordinary shares of $8.5 million were deducted from equity. These costs, primarily underwriting fees, were offset against the gross proceeds recognized in Additional paid in capital. The Company’s registration statement on Form S-8 (File No. 333-290150) registering shares under its employee equity plans, was declared effective by the Securities and Exchange Commission (“SEC”) on September 10, 2025.
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Accounting principles |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure Of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting principles | Accounting principles 1.Basis of preparation and consolidation The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) Accounting Standards as issued by the International Accounting Standards Board (“IASB”) and have been prepared on a historical cost basis, except for equity investments, derivatives and consumer receivables at fair value through profit and loss or at fair value through other comprehensive income, which have been measured at fair value, and lease liabilities, which are measured at present value. These consolidated financial statements are prepared on a going concern basis. All amounts in the notes to the consolidated financial statements are stated in millions of United States Dollars (“USD”), unless otherwise stated. On May 23, 2024, Klarna Holding AB (publ) completed a reorganization which resulted in Klarna Group plc becoming the new ultimate parent company of the Group. Through a series of share for share exchange steps, the shareholders of Klarna Holding AB (publ) exchanged their shares for an equal number of shares in Klarna Group plc. As a result of our corporate reorganization, Klarna Group plc became our ultimate holding company and the parent company of Klarna Holding AB (publ). There was no change in the legal ownership of any of the assets of Klarna Holding AB (publ), nor any change in the ultimate controlling ownership of existing shares or securities of Klarna Holding AB (publ) or Klarna Group plc as a result of the reorganization. The accounting predecessor of Klarna Group plc is Klarna Holding AB (publ). The exchange has been presented on a retrospective basis as a reorganization transaction beginning in the earliest period presented. Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed, or has right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The consolidated subsidiaries of Klarna are consolidated as from the date when control is transferred to Klarna and deconsolidated from the date that control ceases. All intercompany accounts and transactions between members of the Group have been eliminated on consolidation. Share Split In March 2025, Klarna Group plc’s board of directors approved a subdivision of ordinary shares of Klarna Group plc on a 1-to-12 basis (the “Share Split”), which was effected on March 6, 2025. Refer to Note 21 for further details. Accordingly, all share data and per share data amounts for all periods presented in the consolidated financial statements and notes thereto have been retrospectively adjusted to reflect the effect of the Share Split. 2.New and amended standards and interpretations Standards and amendments effective for the year No significant new IFRS standards, amendments or interpretations applicable to the Group became effective during the period. New standards and amendments issued but not yet effective In April 2024, the IASB issued IFRS 18 “Presentation and Disclosure in Financial Statements” that replaces IAS 1 “Presentation of Financial Statements.” IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosed in the notes. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, but earlier adoption is permitted. The Group is currently evaluating the impact of this standard. In May 2024, the IASB issued amendments to IFRS 9 “Financial Instruments” and IFRS 7 “Financial Instruments: Disclosures,” clarifying recognition and derecognition principles and introducing an exception for the early derecognition of certain financial liabilities settled electronically. The amendments also provide guidance on assessing contractual cash flow characteristics and introduce new disclosure requirements. These amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier adoption permitted. The Group is currently evaluating their impact. The Group has not early adopted any issued standards, interpretations or amendments that are not yet effective. 3.Significant accounting judgments, estimates and assumptions The preparation of the consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amount of revenues, expenses, assets and liabilities, and the accompanying disclosures, as well as the disclosure of contingent liabilities. On an ongoing basis, we evaluate our estimates, including those related to provisions for credit losses, revenue recognition, income taxes, the evaluation for impairment of intangible assets and goodwill, contingent liabilities, securitizations, leases, divestitures and share-based compensation, including the fair value of restricted share units, options and warrants issued. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could materially differ from these estimates. Macroeconomic and geopolitical developments may adversely impact consumer spending, merchant performance and counterparty creditworthiness. These conditions may introduce additional uncertainties that can affect the global economy and, consequently, the Group’s operations. These factors are considered into credit loss estimates and other significant accounting estimates. 4.Foreign currency translation Presentation currency and functional currency The financial statements are presented in USD. In general, each entity within the Group uses the currency of its primary economic environment as its functional currency. For Klarna Group plc, the functional currency is USD. The assets and liabilities of the Company and its subsidiaries are translated from the functional currency of the operations to USD using the exchange rates at the reporting date. The revenues and expenses are translated to USD using average exchange rates, which approximate the exchange rates at the date of the transaction. All resulting foreign exchange differences are recognized in other comprehensive income (loss) and included in foreign exchange translation reserve in equity. Foreign currency transactions Transactions denominated in currencies other than the functional currency of the respective entity are translated into the functional currency at the exchange rate on the date of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured using the exchange rates prevailing at the end of the reporting period. Any foreign exchange gains or losses arising from the remeasurement of these monetary assets and liabilities are recognized in other income (expense) in the consolidated statement of profit or loss. 5.Cash and cash equivalents Cash and cash equivalents consist of cash in hand, demand deposits with banks, short-term treasury bills and other short-term highly liquid investments with original maturities of three months or less. 6.Debt securities Debt securities primarily comprise treasury bills chargeable at central banks with original maturities of more than three months, mandatory deposits at central banks, and bonds and other interest-bearing securities. The Group classifies investments as financial assets measured at amortized cost, with interest recognized within interest income in the consolidated statements of profit or loss. 7.Consumer receivables Consumer receivables represent unsecured amounts due from consumers that elect to pay over time either through Pay Later or Fair Financing options as well as receivables related to other consumer fees as discussed in our revenue recognition accounting principles. Pay Later consumer receivables arise from transactions that enable consumers to purchase goods or services at the time of the transaction and defer payment to a later date or in short-term installments (e.g., Pay in 30, Pay in 3, Pay in 4). Fair Financing consumer receivables arise from transactions that enable consumers to pay for purchases over a longer- term installment plan, typically ranging from to 48 months. Consumer receivables that Klarna has the objective of holding to collect contractual cash flows are measured at amortized cost, including outstanding principal balances, accrued interest and net of allowances for expected credit losses. Consumer receivables which are managed within a business model whose objective is to originate and sell or within a hold-to-collect-and-sell business model are measured either at fair value through profit or loss (“FVTPL”) or fair value through OCI (“FVOCI”) and presented separately on the consolidated balance sheet. 8.Settlement and trade receivables Settlement and trade receivables primarily include receivables from payment solution providers (“PSPs”), amounts due from merchants for services and receivables from third-party debt collection agencies and financial institutions. Settlement and trade receivables are reported at amortized cost net of an allowance for expected credit losses. 9.Allowance for expected credit losses Klarna estimates allowances for expected credit losses (“ECL”) for debt securities, consumer receivables and settlement and trade receivables. The ECL allowance is based on either 12-month expected credit losses (“12m ECL”) or on lifetime expected credit losses (“Lifetime ECL”). The ECL allowance is based on the latter if the simplified approach, as defined by IFRS 9, is applicable or if there has been a significant increase in credit risk since initial recognition. Lifetime ECL and 12m ECL are calculated on a collective basis at an asset class level. The asset class is defined by shared credit risk characteristics, which are generally by market and geography. Debt securities Klarna invests in treasury bills issued by central banks, loans to highly rated financial institutions and bonds issued by highly rated government entities. The credit rating status of issuing entities is monitored throughout the investment holding period. The high credit quality of the issuers results in a low probability of default, loss given default and exposure at default resulting in an immaterial ECL estimate for debt securities. Consumer receivables To measure the ECL for consumer receivables, the Group assigns outstanding loans to one of three stages with the stage corresponding to the individual loan’s estimated repayment performance. The estimated repayment performance is informed by the Group’s records, including the customer’s history with Klarna and purchase behavior from active Klarna consumers, merchant data, credit bureau reports and open banking data. Klarna defines the stages as follows: Stage 1: New loan origination that is not credit impaired at origination. A loan remains in Stage 1 unless there is a significant increase in credit risk (“SICR”), such as when a loan becomes 30 days or more past due or if the consumer has other loans that are in Stage 2 or 3. While a consumer could have a loan that did not experience SICR, if they have a loan in Stage 2 or 3, Klarna applies a more prudent approach to all loans for the consumer as part of its risk management practices. A loan may also be transferred back to Stage 1 if credit risk has significantly improved and it is not delinquent 30 or more days. For Stage 1 loans, the allowance is calculated based on 12-month ECL. Stage 2: Loan with an observed significant increase in credit risk since origination. Klarna defines significant increase in credit risk as a loan with an outstanding balance more than 30 days overdue. The allowance for these loans is calculated based on Lifetime ECL. Stage 2 also includes loans that are reclassified from Stage 3 because they are no longer considered credit impaired. Stage 3: Loan considered credit impaired. A loan is defined as credit impaired if it is 90 days past due or is classified as fraudulent. The allowance for Stage 3 loans is calculated based on Lifetime ECL. A loan may be reclassified from Stage 3 if it is no longer considered credit impaired. Settlement and trade receivables For settlement and trade receivables, Klarna estimates credit losses using the Lifetime ECL model. Each counterparty is subject to a credit risk assessment at onboarding and periodically throughout its relationship with Klarna. Based on the credit risk assessment, a counterparty is assigned a risk classification that correlates to a probability of default. For higher risk counterparties, Klarna extends settlement windows for payments to the counterparties to serve as collateral for their non-performance if a consumer returns products. When a settlement and trade receivable is determined to be uncollectible, the gross amount is written off through the allowance for expected credit losses for settlement and trade receivables in general and administrative on the consolidated statements of profit or loss. Recoveries of trade receivables that were previously written off are recognized when received in general and administrative on the consolidated statements of profit or loss. See Note 7 for information on written-off and recovered settlement and trade receivables. Significant inputs Klarna utilizes a series of models to calculate allowance estimates, which depend on certain significant inputs. Definition of default An asset is considered to be in default when it is 90 days or more past due on any payments, has entered debt collection or is classified as fraudulent. Probability of Default (“PD”) Historical balances as well as the proportion of those balances that have defaulted over time are used as a basis to determine the PD. This approach provides values for 12-month and lifetime PDs applied over different vintages for different countries and for days since origination. In cases where the maturity of the loans is very short (i.e., less than 12 months), which is common for Klarna’s products, the 12-month PD and lifetime PD have equal values. Loss Given Default (“LGD”) LGD is the magnitude of the likely loss if there is a default. The LGD is dependent on geographical region, days past due, and, in some cases, recoveries from the sale of non-performing portfolios. The loss given default is calculated using the historical balances over different vintages as a basis. Furthermore, the LGD component is determined based on days past due. Exposure at Default (“EAD”) EAD represents the estimate of the exposure at a future default date, taking into account expected changes in the exposure as of each reporting date, including repayments of principal and interest, whether scheduled by contract or otherwise. Measurement of ECL Expected credit loss estimates are based on these key inputs: PD, LGD and the EAD, which are derived from internal statistics and other external data. PD and LGD estimates are an accumulation of segmentation, such as product and geography, within each asset class, which are used to calculate the ECL on a collective basis. For unsecured assets, there is no collateral factored into the ECL calculations. For quantitative information on the reported ECL amounts see Note 6 and Note 7. Write-off of financial assets Consumer receivables and settlement and trade receivables are written off when either the entire outstanding amount or a proportion thereof are considered uncollectible, which is generally when an outstanding balance is 180 days past due. For consumer receivables and settlement and trade receivables, Klarna monitors significant counterparty relationships for current information and events to assess if there is a risk the counterparty is experiencing financial difficulty or is in breach of contract. If a loan or receivable is determined to be uncollectible, the gross amount will be charged off through the allowance for expected credit losses. Charged-off balances may still be subject to enforcement activities to attempt to recover the amounts due. When enforcement activities are exhausted or the loan or receivable is sold to an external party, the loan or receivable is formally written off in Klarna’s systems. For information on the written-off consumer receivables and settlement and trade receivables, including those subject to enforcement activities, see Note 6 and Note 7, respectively. Sale of uncollectible consumer receivables Klarna enters into agreements to sell certain uncollectible receivables to debt collection agencies to maximize recovery and manage credit risk. These uncollectible receivables are sold on a non-recourse basis, with the Group transferring substantially all risks and rewards of ownership to the debt collection agencies meeting the derecognition criteria on the date of sale. When a receivable is deemed to be uncollectible it is written down to the recoverable amount. Recoveries Recoveries for consumer receivables that were previously written off are recognized when received in provisions for credit losses on the consolidated statements of profit or loss. Recoveries of consumer receivables that were previously written off were not material in 2025, 2024 and 2023. 10.Commitments Klarna enters into certain arrangements that create commitments to purchase certain consumer loans originated by partner banks in the United States (“Loan funding commitments”). Upon purchase of these consumer loans, Klarna recognizes them on the consolidated balance sheet. Klarna may also provide consumers with committed credit limits or other committed financing arrangements. Amounts drawn under these commitments are recognized on the consolidated balance sheet. Amounts committed under these arrangements that are not yet recognized are disclosed in Note 19. 11.Structured entities A structured entity is an entity in which voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights may relate to administrative tasks only, with the relevant activities of the entity being directed by means of contractual arrangements. Structured entities are generally created to achieve a narrow and well-defined objective with restrictions around their ongoing activities. Klarna consolidates such structured entities when we determine that we control the structured entity in accordance with IFRS 10. In the case of structured entities, this determination involves judgment, particularly as voting rights are often not the determining factor in decisions over the relevant activities. This judgment involves assessing the purpose and design of the entity, and whether we have power over the relevant activities and exposure, or rights, to variable returns, and the ability to use its power over the investee to affect the amount of the returns. In determining this, we also assess whether we are acting as a principal or as an agent on behalf of others. Warehouse financing facility and synthetic securitizations Klarna enters into transactions with securitization vehicles (“SPVs”), where it economically transfers a portion of credit risk for certain pools of consumer receivables (the “Referenced Pools”) with the primary objective to lower the regulatory capital risk weights of the underlying assets. In certain transactions, Klarna enters into synthetic securitizations with unconsolidated SPVs. in which credit risk for each Referenced Pool is separated into three tranches: junior, mezzanine and senior. In these structures, Klarna retains the junior and senior tranches and transfers the credit risk associated with the mezzanine tranche to an unconsolidated SPV, which issues credit-linked notes (“CLNs”) to investors. Klarna pays a fee to the SPVs for the transfer of credit risk, which is recognized as incurred in funding costs, see Note 17. This fee provides for a guarantee from the SPV to reimburse the Company for any credit losses incurred within transfers of the credit risk associated with the mezzanine tranche. In other transactions, Klarna enters into arrangements with consolidated SPVs, typically through warehouse financing facilities with an institutional lender, as the funder, and Klarna Bank AB, a subsidiary of Klarna Group plc, as the borrower. In these structures, the SPV issues CLNs to the funder and advances the proceeds to Klarna, which in turn pledges Referenced Pools as collateral. Credit risk for the Reference Pool is separated into two tranches: a junior tranche retained by Klarna and a senior tranche transferred to the funder through the consolidated SPV. The CLNs are recognized within Notes Payables and Other Borrowings and are classified and measured at amortized cost using the effective interest method. Interest and senior expenses related to the facility are recognized within funding costs, see Note 17. In both structures, Klarna retains the contractual rights to the cash flows and substantially all of the associated risks and rewards of ownership of the receivables within the Reference Pool. Accordingly, the receivables are not derecognized and continue to be recognized in the statement of financial position. Should the Company experience credit losses exceeding the retained tranche and fall within the transferred tranche, it would be entitled to recoveries consistent with that contractual reimbursement right. The Company’s estimated credit losses for the Reference Pools was below the contractual range of the transferred tranches for the periods presented. Accordingly, no claims have been made against the SPVs in respect of the reporting periods. Forward flow securitization Klarna enters into forward flow loan sale arrangements with unconsolidated SPVs whereby specified pools of consumer receivables (“Eligible Receivables”) are transferred to the SPVs. Klarna classifies the Eligible Receivables into either fair value through OCI (“FVOCI”), or fair value through profit or loss (“FVTPL”) on the basis of both (a) Klarna’s business model for managing the assets, and (b) the contractual cash flow characteristics of the financial assets. Eligible Receivables classified and measured at FVOCI are subsequently remeasured at fair value and changes therein are recognized in other comprehensive income, except for interest income, impairment, and foreign exchange, until the assets are sold. Interest income is recognized using the effective interest method, in the same manner as for financial assets measured at amortized cost, until derecognition requirements are met. Eligible Receivables classified and measured at FVTPL are subsequently remeasured at fair value and changes therein are recognized in the statements of profit or loss. Expected credit losses (“ECL”) on Eligible Receivables measured at FVOCI do not reduce the carrying amount of the financial assets, which remain at fair value. Instead, the ECLis recognized in other comprehensive income as an accumulated impairment amount, with a corresponding charge to profit or loss. Klarna derecognizes receivables upon transferring the contractual rights to the cash flows and substantially all associated risks and rewards. The transfers are deemed to occur on the sale date, at which point, the derecognition criteria are satisfied. Upon disposal of Eligible Receivables measured at FVOCI, the cumulative gains or losses previously recognized in other comprehensive income, including the accumulated impairment amount are reclassified from other comprehensive income to the statements of profit or loss. Upon disposal of Eligible Receivables measured at FVTPL, gains and losses are recognized in the statements of profit or loss. Gains and losses from disposals of Fair Financing receivables are recognized within revenue as Gain on sale of consumer receivables, and losses from disposals of Pay Later receivables are recognized within Funding costs, reflecting the nature and underlying characteristics of the sold eligible receivables. See Note 4 and Note 17. Klarna may continue to service certain sold receivables on behalf of the SPVs in exchange for receiving a servicing income from providing professional services such as cash flow collection and credit risk management in the event of customer defaults. We recognize this servicing fee within Transaction and service revenue. The servicing fee is typically calculated daily by applying a fixed percentage to the outstanding loan principal balance. The servicing fee represents a fair market fee, and no servicing asset or liability is recognized in the financial statements. See Note 4. 12.Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or, in its absence, the most advantageous market to which Klarna has access at that date. When available, Klarna measures fair value using the quoted price in an active market. If a quoted price in an active market is not available, the Group uses valuation methods that maximize the use of relevant observable inputs and minimize the use of unobservable inputs to determine fair value. The fair value of a financial instrument on initial recognition is generally best evidenced by its transaction price (i.e., the fair value of consideration paid or received). If Klarna determines that the transaction price differs from the fair value and the fair value is not evidenced by a quoted price in an active market for an identical asset or liability nor based on a valuation method where unobservable inputs are considered to be insignificant in relation to the difference, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price. Subsequently, that difference is recognized in profit or loss on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is settled. All assets and liabilities for which fair value is measured or disclosed in these consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole. Level 1 Level 1 in the fair value hierarchy consists of assets and liabilities where the inputs used in the valuation are unadjusted quoted prices from active markets for identical assets or liabilities. Level 2 Level 2 consists of assets and liabilities where the significant inputs used for valuation are derived from directly or indirectly observable market data available over the entire period of the instrument’s life. Such inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical instruments in inactive markets and observable inputs other than quoted prices such as interest rates and yield curves, implied volatilities and credit spreads. Level 3 Level 3 includes estimated values based on assumptions and assessments where one or more significant inputs are not based on observable market information. Klarna recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. Repurchase agreementsRepurchase agreements are used to obtain liquidity and fluctuate over time based on many factors, including market conditions, consumer receivables and consumer deposit growth and balance sheet management activities. Treasury bills and other interest-bearing securities that are sold under agreements to repurchase at a specified future date are not derecognized from the balance sheet as Klarna retains substantially all of the risks and rewards of ownership. Assets under repurchase agreements are transferred to the counterparty, and the counterparty has the right to sell or re-pledge the assets. Such securities are kept on the balance sheet and pledged as collateral when the securities have been transferred and cash consideration has been received. Payment received is recognized under notes payable and other borrowings. The difference between the sale and repurchase price is accrued over the life of the agreement using the effective interest method and recognized within funding costs in the consolidated statements of profit or loss. 14.Derivative instruments and hedge accounting Derivative instruments are recognized in the balance sheet on their trade date and are measured at fair value, both initially and in subsequent periods. Derivative instruments are presented in other assets or notes payable and other borrowings. Changes in the fair value of derivative instruments are included in funding costs in the consolidated statements of profit or loss. The Group uses hedge accounting for fair value hedges to manage the interest rate risk of liabilities. Changes in the fair value of derivatives that are designated and qualify as fair value hedging instruments are included in funding costs, together with any changes in the fair value of the hedged liability that are attributable to the hedged risk. Any residual mismatch between the hedging instrument and the hedged item is recognized as ineffective. When hedging interest rate risk, any interest accrued or paid on both the hedging instrument and the hedged item is included in funding costs. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the consolidated statements of profit or loss over the period for which the item was hedged. If the hedged item is sold or repaid, the unamortized fair value adjustment is recognized immediately in funding costs. 15.Consumer deposits Consumer deposits are initially recorded at fair value and then at amortized cost and with application of the effective interest method. Where a consumer deposit is in a qualifying fair value hedge relationship, its carrying value is adjusted for changes in fair value attributable to the hedged risk. All consumer deposits are interest-bearing. Klarna offers certain consumer deposit arrangements under which funds are held on behalf of consumers by third-party financial institutions. Under these arrangements, consumer deposit balances that are not controlled by Klarna are not recognized in the consolidated balance sheet. 16.Payables to merchants Payables to merchants arise when Klarna facilitates payment transactions for merchants and holds the corresponding funds on their behalf. The settlement cycle is dependent on the counterparty, but is usually within a few working days of the transaction. As a result, Klarna records a liability towards the merchant, representing the money owed to them. Payables to merchants are recognized at amortized cost. On settlement, the Group derecognizes these amounts from the balance sheet. 17.Leasing The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The length of a lease term includes options to extend or terminate the lease when it is reasonably certain that the Group will exercise those options. The Group applies judgment in evaluating whether it is reasonably certain to exercise extension or termination options. For most leases, the Group has determined that the lease term does not include additional periods after the initial period. A right-of-use asset and a lease liability are recognized at the lease commencement date. The right-of- use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for initial direct costs, incentive payments, restoration costs and lease payments before the commencement date. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term. The lease liability is initially measured at the present value of the remaining lease payments that are not paid at the commencement date. As most leases do not provide an implicit interest rate, the Group uses the incremental borrowing rate at the lease commencement date in determining the present value of lease payments. The lease liability is remeasured when there is a change in future lease payments arising, for example, from a change in an index or rate, a reassessment of extension, termination or purchase options, or a change in the amount expected to be payable under a residual value guarantee. If a remeasurement of the lease liability occurs, a corresponding adjustment to the carrying amount of the right-of-use asset is made. Lease payments included in the measurement of the lease liability are fixed payments, variable lease payments that depend on an index or rate, amounts expected to be payable under a residual value guarantee and the exercise price under a purchase option, if applicable. The Group excludes payments for related services and other components of a lease. The Group presents right-of-use assets in property and equipment and lease liabilities in other liabilities in the balance sheet. The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases and leases of low-value assets, primarily relating to IT equipment and short-term office rentals. Payments for such leases are recognized as an expense on a straight-line basis over the lease term. 18.Business combinations Business combinations are accounted for using the acquisition method. Identifiable assets acquired and liabilities assumed are measured initially at their fair values at the acquisition date. The excess of the consideration transferred and the acquisition-date fair value of any previous equity interest in the acquiree, over the fair value of the identifiable net assets acquired is recognized as goodwill. Acquisition- related costs, other than those incurred for the issuance of debt or equity instruments, are charged to the consolidated statement of profit or loss as they are incurred. 19.Divestitures Non-current assets or disposal groups are classified as held for sale when their carrying amount is expected to be recovered principally through a sale transaction rather than through continuing use. The classification is made when the asset or disposal group is available for immediate sale in its present condition, and the sale is highly probable within one year. Upon such classification, the assets or disposal group are measured at the lower of their carrying amount and fair value less costs to sell. The gain or loss on divestment is determined as the difference between the consideration received, net of transaction costs, and the carrying value of the net assets disposed of. The gain or loss is recognized within other income (expense) in the statements of profit or loss. Where goodwill has been allocated to the disposed operation, typically measured based on the relative values of the disposed operation, such goodwill is included in the carrying amount of the operation when determining the gain or loss on disposal. An operation is classified as discontinued when it represents a separate major line of business or geographical area of operations that either has been disposed of or is classified as held for sale. For foreign operations, cumulative foreign currency translation differences previously recognized in other comprehensive income are reclassified to the statements of profit or loss upon divestment. This reclassification is included as part of the gain or loss on disposal. 20.Goodwill and intangible assets Goodwill Goodwill represents the excess of consideration paid over the fair value of the identifiable net assets acquired in a business combination. Goodwill is not amortized but is reviewed for impairment annually and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. Impairment of goodwill is not reversed. The Group monitors goodwill for impairment considerations at the operating segment level. In the event of a disposal that qualifies as a business, or where there is a significant reorganization of the business, goodwill is allocated based upon relative fair values. Trademarks, tradenames, licenses and other customer-related intangible assets Identifiable intangible assets following business combinations include trademarks, tradenames, licenses, developed technology and customer relationships. Acquired intangible assets are recorded at fair value on the date of acquisition and amortized over their estimated useful lives, generally 3-20 years. The Group reviews the carrying amounts of intangible assets for impairment at the asset group level whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Capitalized development costs Costs associated with IT systems, software and licenses, whether developed internally or acquired, are recognized as intangible assets when the following criteria are met: •It is technically feasible to complete the intangible asset so that the asset will be available for use or sale; •Adequate resources are available to complete the development; •There is an intention to complete and use the intangible asset for the provision of services; •Use of the intangible asset will generate probable future economic benefits; and •Expenditures attributable to the intangible asset can be measured reliably. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable capitalized development costs and licenses (generally, 3-5 years) and reported within depreciation, amortization and impairments and in technology and product development in the consolidated statements of profit or loss depending on the nature of the assets. Costs related to development activities that do not satisfy the above criteria, including for maintenance, are expensed as incurred. Impairment Goodwill is tested for impairment annually. This is tested by estimating the recoverable amount, which is the higher of the fair value less costs of disposal and the value in use. If the recoverable amount is lower than the carrying amount, the asset is written down. See Note 11 for further information on the measurement of goodwill and significant assumptions used in the annual impairment test. Intangible assets with finite useful lives undergo impairment testing whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. 21.Property and equipment Property and equipment is stated at historical cost less accumulated depreciation and impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable assets, generally, by applying the following useful lives to each class of property and equipment:
If there is an indication that the recoverable value is less than the carrying amount, an impairment review is completed and any impairment loss is recognized within depreciation, amortization and impairments in the consolidated statements of profit or loss. The cost and accumulated depreciation for property and equipment that is sold, retired or otherwise disposed of are derecognized and the resulting gains or losses are recorded in the consolidated statements of profit or loss. 22.Treasury shares Shares in the Company that are held by wholly owned subsidiaries or other Group entities are classified as treasury shares. Amounts paid to repurchase the Company’s own shares, including any directly attributable incremental costs (net of related income tax effects), are recognized as a deduction from equity. The repurchased shares are presented as treasury shares and remain deducted from equity until they are either cancelled or reissued. These shares are deducted from the issued and weighted average number of shares in calculating earnings per share. Dividends received on treasury shares are eliminated on consolidation, and no gain or loss is recognized in profit or loss or other comprehensive income on the purchase, sale, reissue, or cancellation of such shares. 23.Revenue Recognition Transaction and service revenue Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The product offerings from which revenues are recognized do not differ in any significant way between geographical markets. Transaction revenue Transaction revenue includes merchant revenue and advertising revenue. Merchant revenue refers to fees paid by our merchants, generated when consumers transact on our network. It includes merchant fees, interchange revenue and fees for settling disputes. Merchant revenue is derived from the volume of transactions we process multiplied by the fees we charge, which vary among our geographies. Our pricing is a combination of value-based and fixed pricing, charged either ad valorem (proportional to the estimated value of goods and services purchased on our network) or fixed fees on each transaction, or a mix of both. Where consumers return merchandise or goods and merchants process a refund, merchant fees charged for the original transaction are not returned to the merchant. Our contracts with merchants consist of a master agreement including terms, conditions and pricing. We are not obligated to perform under the contract until a transaction occurs and thus each transaction represents a separate performance obligation to the merchant as our customer. Our service offering comprises a single performance obligation to merchants to facilitate transactions with consumers. The transaction price is recognized at the point in time when the merchant successfully confirms the transaction, which is when the terms of the contract are fulfilled. We provide a reduction of merchant fees to certain merchants based on performance measures, including volume of processed transactions. The nature of our contracts may give rise to variable consideration, which may be constrained. We estimate the expected transaction volumes at the beginning of the period and include the estimated rebates in the transaction price as a reduction of merchant revenue. We also enter into contracts with certain merchants to expand our user base and market presence and for brand promotion through co-marketing activities, as detailed in section Promotional and marketing arrangements below. Advertising revenue is earned from merchants who place advertisements on our network, including sponsored search, affiliate programs and brand ads. We enter into contracts for advertising either directly with merchants or through other third parties. The transaction price is determined based on the advertising model, with fees that may be fixed or variable, typically based on the number of impressions delivered or actions taken by users, such as clicks or purchases. Revenue from impression-based ads is recognized in the period when an ad is displayed to users. For action-based ads, revenue is generally recognized at a point in time, when a specified action, such as a click or purchase, occurs. Our contracts for advertising services are separate from other merchant contracts and include a single performance obligation. For advertising revenue generated through other third parties, we recognize revenue on a gross basis if we are the principal and on a net basis if we are the agent. This assessment is based on whether we control the service before it is delivered to the customer. Consumer service revenue Consumer service revenue refers to revenue we earn from consumer fees, primarily consisting of certain administrative fees, including reminder fees and fees for issuing one-time cards. Consumers may be charged a fee, being a fixed amount that constitutes the transaction price and recognized at the point in time that the consumer is charged. This fee income is earned in relation to the Company’s ordinary activities. Consumer service revenue also includes subscription revenue. Subscription revenue represents monthly subscription fees related to a single performance obligation for a bundle of services and are recognized over the subscription period as those services are provided. Distribution partner referral arrangements We enter into contracts with third-party partners to distribute our payment solutions to our merchants. For these contracts, we evaluate who our customer is and if we are acting as the principal or agent in the specific arrangement. Generally, our customer is considered to be the merchant and we are considered to be the principal in these arrangements, while third-party partners are determined to be an agent in the transaction. We recognize incremental costs of obtaining a contract in accordance with IFRS 15 “Revenue from Contract with Customers” for the commission paid to these third-party partners. These expenses are classified within sales and marketing expenses in the consolidated statements of profit or loss. During 2025, 2024 and 2023, the Company recognized $109 million, $81 million and $59 million, respectively, related to these commissions within sales and marketing expenses. Promotional and marketing arrangements We enter into contracts with certain merchants and other partners to expand our user base and market presence, and for brand promotion through co-marketing activities, in which Klarna provides cash, share warrants, or both as consideration. We evaluate if the consideration payable is in exchange for a distinct good or service. Where the payment is for a distinct good or service, it is recognized as sales and marketing expenses. If a payment is not for a distinct good or service, it is recognized as a reduction of the transaction price. We recognize the expense of such services as incurred. When the consideration represents a payment against which economic benefits are expected to be realized over a future period, we recognize a commercial agreement asset. These assets are amortized over the period of the contract for when the services are expected to be provided, which is typically between 3-5 years. We also offer promotions to consumers, including cashback, with the purpose of acquiring new consumers, promoting the Klarna brand, the use of the Klarna app and payment options. These promotions typically represent a reduction on the total amount collected from consumers. Where we assess there is no explicit or implicit expectation for promotions to be provided, we recognize within sales and marketing expenses. Where we assess there is an expectation, the cost of the promotion is recognized as a reduction in the revenue earned from the transaction, with any excess of the cost of the promotion above the revenue recognized within sales and marketing expenses. Interest income Interest income includes interest earned when consumers choose to spread the cost of transactions over time through one of our interest-bearing financing products or to delay the cost of transactions with our payment flexibility features, such as “snooze.” We also recognize interest income related to incremental fees earned from certain merchants for providing interest-free promotional loans to their consumers. Interest income on financial assets measured at amortized cost, as well as “snooze” fees charged, is recognized in profit or loss using the effective interest method. Interest income also includes interest from debt securities. See Note 8. From time to time, we may enter into contracts with merchants under which we pay a fee for their role as intermediary in arranging a consumer financing facility. We recognize such fees as a reduction of interest income. During 2025, 2024 and 2023, the Group recognized $12 million, $10 million and $13 million as a reduction of interest income, respectively. 24.Operating expenses Processing and servicing costs Processing and servicing costs primarily consist of the following and include cost of fulfilling a contract: authentication costs to verify user identities, scoring costs related to purchasing credit and fraud data from various bureaus, distribution costs related to direct communication with consumers, commissions paid to third parties for debt collection and payment fees to credit card companies and financial institutions. Processing and servicing costs are expensed as incurred. Provision for credit losses Impairment losses from consumer receivables are reported as Provision for credit losses. Provision for credit losses for the period consist of realized credit losses, provisions for credit losses for granted credit, less reversal of provisions for credit losses made previously. Realized credit losses are losses whose amount is, for example, determined via bankruptcy, a composition arrangement, a statement by an enforcement authority or the sale of receivables. Funding costs Funding costs include interest that we pay on our consumer deposits, calculated using the effective interest method, and securitization costs, including fair value adjustments on Pay Later receivables held at fair value through profit and loss related to forward flow agreements, and premiums paid in connection with our synthetic securitization transactions. Technology and product development Technology and product development expenses primarily consist of personnel-related costs for technology functions as well as other expenses, including hosting, software licenses, external service providers, hardware costs and amortization of internally developed and acquired technology assets. Sales and marketing Sales and marketing expenses primarily consist of personnel costs, general marketing and promotional activities costs, referral commissions, costs related to sponsorships and partnerships, and costs related to consumer promotional programs. Customer service and operations Customer service and operations expenses primarily consist of personnel costs for customer support functions and outsourced assistance to help with purchases, account management, returns and merchant disputes. General and administrative General and administrative expenses consist of personnel costs for directors and executives, legal and human resources, and finance functions, lease expenses related to short-term leases, low-value assets, and variable lease expenses, professional services costs and merchant and other losses. 25.Income taxes Income taxes consist of current tax and deferred tax. Income taxes are reported directly in the consolidated statement of profit or loss except when the underlying transaction is reported directly against equity or other comprehensive income, in which case the accompanying tax also is reported in equity or other comprehensive income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is reported according to the balance sheet method for all taxable temporary differences between an asset’s or a liability’s tax base and its carrying amount in the balance sheet. Deferred tax assets are reported for deductible temporary differences to the extent it is probable that the taxable profit will be available against which the deductible temporary difference can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. The Group assesses on an ongoing basis as well as at the end of the year the possibility of recognizing deferred tax assets related to tax losses carried-forward. Deferred tax assets attributable to tax losses carried forward are reported only if it is probable that they will be used towards taxable profits in the foreseeable future. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the probability of taxable profits being available in the future and the quantum of taxable profits that are forecasted to arise. These judgments include management’s expectations of the growth of profit before tax in different jurisdictions, forecasted revenues and expenses and the timing of the reversal of taxable temporary differences. Uncertain tax positions are measured on an ongoing basis, and the method is determined by taking all known facts and circumstances into account. 26.Share-based payments Klarna offers equity-based programs to employees and certain third-party contributors, including merchants, partners and service providers. Employee Restricted Share Unit Program and Individual Contributor Share Warrants and Share Options The Group grants share-based awards in the form of restricted share units (“RSUs”), share warrants and options, to certain individual contributors, including employees, executive officers and directors. Restricted share units granted to employees generally vest on a graded vesting schedule over a four years period. The share warrants and options are subject to graded vesting over a term of typically to five years. These arrangements are equity-settled and are accounted for as equity-settled share-based payments. For share-based awards granted to certain individual contributors, including employees as well as executive officers and directors, the services rendered are measured with reference to the grant-date fair value of the equity instruments using a Black-Scholes model. The cost of the share-based payments granted to employees is recognized over the vesting period, which represents the period the service conditions are fulfilled. The Group also grants ordinary shares through direct share issuances to employees, executive officers and directors. The shares are accounted for as equity-settled share-based payments. Typically there are no vesting conditions or restrictions placed on the awards and, accordingly, the related share-based compensation expense, based on the grant-date fair value of the awards, is recognized immediately. The share-based payment expenses related to awards granted to individual contributors, including employees, executive officers and directors are recognized under technology and product development, sales and marketing, customer service and operations or general and administrative expenses depending on the function of the related employee or individual contributor in the consolidated statements of profit or loss. The employment vesting condition is a non-market based condition and a forfeiture estimate is factored into the assumption of how many equity instruments are expected to vest. Any related social security charges relating to share-based payments are recognized as an expense during the corresponding period based on the fair value that serves as the basis for a payment of social security charges. The expense is recognized under the function of the related employee or individual contributor in the consolidated statements of profit or loss. In many jurisdictions, tax authorities levy taxes on share-based compensation transactions with employees that give rise to a personal tax liability for the employee. In some cases, Klarna is required to withhold the tax due and to settle it with the tax authority on behalf of the employees. To fulfill this obligation, the terms of Klarna’s restricted share unit arrangements permit the Group to withhold the number of shares that are equal to the monetary value of the employee’s tax. Partner Share Warrants Klarna has granted share warrants to certain partners, including merchants and other service providers, in return for services. Share-based payments to partners are generally measured at the fair value of the goods or services received and measured at the time when such goods and services are received. If the fair value of goods and services cannot be reliably measured, the fair value of the equity instruments is used. We recognize commercial agreement assets where the consideration paid represents a future economic benefit, and these assets are amortized over the relevant performance period within the commercial agreement and recognized within sales and marketing expenses where the payment is in exchange for a distinct service or as a reduction to transaction prices if in exchange for no distinct service. Further information relating to share-based payment transactions is presented in Note 22. 27.Provisions The Group recognizes provisions for present obligations arising from past events when payment of the obligations is probable and can be reliably estimated. Refer to Note 15 for information regarding the Group’s provisions. Klarna operates in a regulatory and legal environment that involves an element of litigation risk inherent to its operations, and from time to time Klarna may be party to litigation, arbitration and regulatory investigations and proceedings arising during the ordinary course of business. When Klarna can reliably measure the outflow of economic benefits in relation to a specific case and considers such outflow to be probable, a provision is recorded. Given the subjectivity and uncertainty of determining the probability and amount, a number of factors are assessed, including legal advice, the stage of the matter and historical evidence from similar incidents. Judgment is required in concluding such assessments. 28.Employee Benefits Employee benefits include all forms of consideration provided by the Group in exchange for services rendered by employees, including post-employment pension plans. The Group’s pension plans are defined contribution plans, which means that contributions are made to an independent legal entity according to a fixed pension plan. These contributions are recognized as personnel costs in the period they apply to. After the contributions are made, the Group has no legal or other obligations. Employee benefits expenses are composed of:
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Risk management and management of capital |
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| Risk management and management of capital | Risk management and management of capital Klarna’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern and to comply with regulatory capital requirements. Regulatory requirements Within the Group, Klarna Holding AB and its subsidiary, Klarna Bank AB, are subject to the regulatory capital requirements imposed by the SFSA. The regulatory capital framework requires Klarna to maintain a minimum level of capital to cover its operational, credit and market risks. Klarna's regulatory capital is composed of Tier 1 and Tier 2 capital, which include common equity, retained earnings, and subordinated debt. Capital adequacy Klarna monitors its capital and liquidity adequacy ratios through the Internal Capital and Liquidity Adequacy Assessment Process (“ICLAAP”) in accordance with the regulatory definition of these measures. As of December 31, 2025, Klarna was in compliance with these requirements. Capital structure Klarna’s capital structure is regularly reviewed by the board of directors. The review involves assessing the cost of capital and ensuring compliance with regulatory capital requirements. The key components of Klarna’s capital structure include: Equity: Common shares, additional paid-in capital, and retained earnings. Debt: Debt obligations, including subordinated debt. Risk descriptions The Group categorizes the key risks it is exposed to in the sections below. These risk categories form the basis of how Klarna identifies, assesses, manages and monitors risk. Credit risk Credit risk is the risk of financial loss due to a counterparty failing to meet its contractual obligations or concentrations in exposure. Cash and cash equivalents, consumer receivables, other receivables, and debt securities are potentially subject to concentrations of credit risk. To manage the Group’s credit risk, cash and securities held are placed with financial institutions that management believes are of high credit quality, and the quality of the Group’s lending is closely monitored through our underwriting process. Klarna makes real-time underwriting decisions for each transaction, leveraging its records, including the customer’s history with Klarna and purchase behavior from active Klarna consumers, merchant data, credit bureau reports and open banking data to understand the financial position of the consumer at that point in time. For further details on credit risk, refer to Note 2. Market Risk Market risk is the risk of movements in market prices impacting Klarna’s earnings or capital position. Risk Measurement and Exposure Currency exposure The currency exposure is a result of transactions denominated in a currency other than the functional currency. The table below shows the net average currency exposure and the effects of a 10% change in foreign exchange rates on the exposure of the group as of the end of the period.
Interest rate exposure As a bank, Klarna is required to monitor exposures toward interest rate risks using the Economic Value of Equity (EVE) approach according to the relevant EU regulations, EBA guidelines and SFSA methodologies. The EVE approach measures interest rate driven changes to the net present value of future cash flows generated by balance sheet items. The change to EVE is measured using various interest rate scenarios, including parallel shifts. The table below shows the change in the EVE after applying a parallel shift to the yield curve.
Liquidity Risk The risk of the Group being unable to meet its financial obligations, as they fall due, or unable to fund its operational needs without incurring unacceptable costs. Risk Measurement and Exposure The Group complies with all liquidity regulatory requirements, including Liquidity Coverage Ratio (“LCR”) and Net Stable Funding Ratio (“NSFR”), and monitoring and management of Klarna’s liquidity survival horizon. Funding Obligations The tables below show the undiscounted funding obligations including interest by contractual maturity:
The Group’s commitments for loan funding are disclosed in Note 19.
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Operating segments |
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| Disclosure of operating segments [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating segments | Operating segments Klarna determines operating segments based on how the Chief Operating Decision Maker (“CODM”) manages the business, makes operating decisions around the allocation of resources and evaluates Klarna’s operating performance. Klarna’s CODM role is fulfilled by the executive officers as a group, who collaboratively assess financial performance and make resource allocation decisions on a consolidated basis. Klarna operates as one operating segment and has one reportable segment. Geographic Information Transaction revenue, consumer service revenue and interest income are presented by major geographic regions based upon the billing address of the consumer. Interest income derived from the cash and liquidity management of the Group is based on the geographic location of the financial institution for which financial instruments have been purchased.
No individual country within other countries contributed more than 10% of revenues in 2025. The following table presents Klarna’s revenue disaggregated by category:
Transaction revenue Transaction revenue consists of merchant revenue and advertising revenue. Merchant revenue primarily refers to fees paid by our merchants, generated when consumers transact on our network and also includes interchange revenue and fees for settling disputes. Advertising revenue is earned from merchants who place advertisements on our network, including sponsored search, affiliate programs and brand ads. During 2025, 2024 and 2023, advertising revenue amounted to $190 million, $180 million and $157 million. Gain on sale of consumer receivables During the year ended December 31, 2025, the Company entered into sales agreements of Fair Financing receivables comprising both an initial sale of existing portfolio and additional forward flow agreements. The total Fair Financing receivables sold during the year was $1.6 billion. These sales of receivables resulted in a gain on sale $73 million, of which $25 million was reclassified from other comprehensive income during 2025. There was no comparable revenue for the year ended December 31, 2024. Consumer service revenue Consumer service revenue refers to revenue we earn from consumer fees, primarily consisting of certain administrative fees, including reminder fees of $261 million, $254 million and $198 million in 2025, 2024 and 2023, respectively, and other administrative fees, such as fees for issuing one-time cards. Consumer service revenue also includes subscription revenue of $29 million and $6 million in 2025 and 2024, respectively. Interest income The following table presents Klarna’s interest income by category:
Interest income includes interest earned when consumers choose to spread the cost of transactions over time through one of our interest-bearing financing products or to delay the cost of transactions with our payment flexibility features, such as “snooze.” We also recognize interest income related to incremental fees earned from certain merchants for providing interest-free promotional loans to their consumers. Interest income also includes interest from debt securities. See Note 8. Fair Financing includes interest income of $20 million attributable to consumer receivables originated and measured at fair value through OCI during 2025. Significant customers For the year ended December 31, 2025, 2024 and 2023, there were no single customers that on an individual level accounted for more than 10% of total revenue. Klarna’s non-current assets, composed of property and equipment, goodwill, intangible assets and other assets that are expected to be recovered more than twelve months after the reporting period:
No individual country within other countries made up more than 10% of non-current assets.
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Cash and cash equivalents |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Cash and cash equivalents [abstract] | |||||||||||||||||||||||||||||||
| Cash and cash equivalents | Cash and cash equivalents The Group’s cash and cash equivalents consisted of:
Cash held at central banks consist of deposits in accounts with central banks under government authority primarily where the (i) the central bank is domiciled and (ii) the balance is readily available.
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Consumer receivables |
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| Disclosure of financial assets [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer receivables | Consumer receivables Consumer receivables represent amounts due from consumers related to Klarna’s flexible payment options, including Pay Later and Fair Financing solutions. Consumer receivables, except those which are managed within a business model whose objective is to originate and sell or within a hold-to-collect-and- sell business model (see Note 20), are measured at amortized cost, including outstanding principal balances, unamortized deferred origination costs, accrued interest and net of allowances for expected credit losses. The below table summarizes consumer receivables for the years ended December 31, 2025 and 2024:
As detailed in Note 2, to measure the ECL of consumer receivables, Klarna assigns outstanding loans to one of three stages based on repayment performance. See Note 2 for more information. The below tables reconcile the Group’s classification of Fair Financing and Pay Later consumer receivables by stage for the opening and closing balances:
____________ 1 Assets repaid includes the sale of an existing portfolio of Fair Financing receivables within the period 2 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
The activity in the Group’s allowance for credit losses recognized for Fair Financing and Pay Later consumer receivables, based on the above stage classifications, is detailed in the below table:
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
Consumer receivables increased primarily as a result of growth in Klarna’s key markets. Loans with contractual amounts of $173 million and $241 million that were written off during 2025 and 2024 are still subject to enforcement activity. Other adjustments within consumer receivables during 2025 primarily relate to the impact of movements in foreign exchange rates on consumer receivables during the year.
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Settlement and trade receivables |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade and other receivables [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Settlement and trade receivables | Settlement and trade receivables Settlement and trade receivables primarily include receivables from payment solution providers (“PSP receivables”), which arise from timing differences in the settlement process between the cash settlement of a transaction and the derecognition of the associated receivable. Settlement and trade receivables are initially measured at fair value and subsequently measured at amortized cost less an allowance for ECL. Settlement and trade receivables are composed of:
The Group applies the simplified approach to calculating the allowance for expected credit losses. The Group’s provisions for expected credit losses related to merchant receivables are included within general and administrative expense in the consolidated statements of profit or loss. The balances throughout fiscal years 2025 and 2024 for the allowance for expected credit losses related to PSP receivables, debt collection receivables and other receivables were immaterial due to the short-term nature of the receivables and low credit risk associated with transacting with large PSPs, debt collection agencies and other counterparties.
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Debt securities |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Debt Securities1 [Abstract] | |||||||||||||||||||||||||||||||
| Debt securities | Debt securities Debt securities are composed of:
The Group monitors the credit ratings for the securities held throughout the investment holding period. The allowance for expected credit losses is immaterial due to the credit quality of the issuers and low risk of default. Mandatory deposits at central banks are held with local central banks for the purpose of satisfying regulatory requirements. These deposits are not available for immediate use to support the Company’s day-to-day operations.
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Leases |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Presentation of leases for lessee [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases Klarna’s leases are primarily composed of office facilities and IT office equipment with various expiration dates through December 2031. We have the option to renew or extend our leases, and certain agreements also provide the option to terminate with prior written notice. As of December 31, 2025 and December 31, 2024, we have not included these provisions in determining the lease term, as it is not reasonably certain that these options will be exercised. During 2025, 2024 and 2023, Klarna recognized impairment loss of $16 million, $6 million and $32 million, respectively, related to the early termination of certain lease agreements for office space. Refer to Note 12 for additional information regarding right-of-use assets. The following table presents lease expenses and expenses for short-term and low-value leases recognized in 2025, 2024 and 2023:
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Divestitures |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Divestitures [Abstract] | |||||||||||||||||||||||||||||||
| Divestitures | Divestitures There were no divestitures in 2025. On October 1, 2024, the Group completed the divestment of Klarna Checkout (“KCO”), its online checkout solution, to a consortium of investors. This transaction allows Klarna to focus on its flexible payment methods and partner more closely with payment service providers. KCO was a shopping solution providing consumers and merchants with a personalized shopping experience. KCO provided several different payment options as well as Klarna’s proprietary products and other offerings from, or supported by, third-party payment option providers. KCO had approximately 24 thousand merchants. The Group received cash proceeds of $195 million and recognized a net gain of $171 million within other income in our statements of profit and loss as a result of the sale in 2024. In addition, further cash proceeds up to a maximum of $28 million may be receivable contingent upon the disposed operation achieving certain performance criteria in 2026 and 2027. At the time of the sale and through December 31, 2025, Klarna had not recognized any contingent consideration.
The carrying amounts of net assets sold primarily consisted of goodwill of $20 million allocated to KCO using a relative value approach, settlement and trade receivables of $4 million, other assets of $1 million, cash and cash equivalents of $8 million, accounts payable and accrued expenses related to payment fees, payroll, social charges among others of $2 million, payables to merchants of $56 million and other liabilities of $4 million. In connection with the disposal, the former eliminated intercompany receivables became external, impacting the consolidated financial net assets by $49 million. Klarna determined that the operation of KCO did not meet the criteria to be classified as discontinued operations under IFRS as it was not a major business line or a geographic area of operations and KCO’s operations or cash flows have historically not been clearly distinguishable.
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Goodwill and Intangible assets |
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| Intangible assets and goodwill [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible assets | Goodwill and Intangible assets Klarna’s intangible assets include capitalized development expenses and assets acquired as a result of its business combinations. As of December 31, 2025 and 2024, goodwill and intangible assets consisted of the following:
As of December 31, 2025, the Group’s goodwill primarily related to goodwill originated from acquisitions in 2021 and 2022, including PriceRunner Group AB, Stocard GmbH and Sofort GmbH. Impairment testing of Goodwill and Intangible assets The Group conducted its annual goodwill impairment test as of October 1, 2025. No impairment losses were identified, as the recoverable amount, measured as value in use, exceeded the carrying amount. The impairment test is performed at the operating segment level, which is the lowest level at which goodwill is monitored and assessed for internal management purposes, by comparing the carrying amount of the net assets, including goodwill, with the recoverable amount. In 2025 and 2024, the Group assessed impairment by calculating value in use, based on estimated future financials from the operating segment. The Group uses a two-year forecast based on its business plan which is extrapolated out to a five-year timeframe. Cash flows beyond the five-year period are determined using an estimated terminal growth rate of 3.5% . Key assumptions and inputs include discount rate, growth rate and profitability. The discount rate used in 2025 and 2024 was 11.2% and 12.5%, respectively. On October 1, 2024, the Group completed the divestment of KCO to a consortium of investors, to which goodwill of $20 million was allocated using a relative value approach. See Note 10.
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Property and equipment |
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| Disclosure of detailed information about property, plant and equipment [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and equipment | Property and equipment The Group’s property and equipment primarily includes equipment, tools, furniture and fittings, computer equipment and leasehold improvements related to its office spaces. The Group includes its right-of-use assets within property and equipment. Refer to Note 9 for additional information regarding the Group’s leases. Property and equipment is stated at cost less accumulated depreciation and impairment. Depreciation is calculated using the straight-line method by applying various useful lives to each class of property and equipment. At December 31, 2025 and 2024, property and equipment consisted of the following:
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Other assets |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Miscellaneous assets [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other assets | Other assets Other assets consisted of the following:
During 2025, we granted warrants to certain partners in relation to the commercial agreements, of which we recognized $85 million under commercial assets related to the fair market value of the service to be amortized over the period of the agreement over which the related services are expected to be received. As of December 31, 2025, $75 million of this balance was outstanding under commercial agreement assets. Refer to Note 22 for details.
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Notes payable and other borrowings |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| Notes Payable And Other Borrowings [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Notes payable and other borrowings | Notes payable and other borrowings As of December 31, 2025 and 2024, notes payable and other borrowings consisted of the following:
____________ 1 The warehouse financing facility refers to issued credit-linked notes (“CLNs”), see Note 16. Liabilities to financial institutions Liabilities to financial institutions represent borrowings and financing arrangements with external financial institutions. These liabilities primarily include a bilateral loan, prefunding agreements and liabilities that arise from collateral or margin placed on derivative transactions. Senior unsecured bonds Klarna has established a Swedish Medium Term Note Program (the “SMTN”) and Euro Medium Term Note Program (the “EMTN”). Under both programmes Klarna Bank AB and Klarna Holding AB issue notes that qualify as Senior Unsecured Bonds and Subordinated liabilities. Under the terms of the SMTN, Klarna may issue up to an amount that is not to exceed SEK10 billion which approximates $1.1 billion as of December 31, 2025. Under the terms of the EMTN, Klarna may issue notes up to an amount that is not to exceed EUR3 billion which approximates $3.1 billion as of December 31, 2025. The medium term notes are initially recorded at fair value based upon proceeds received, net of issuance costs and subsequently accounted for at amortized cost with interest expense recognized within funding costs in the consolidated statements of profit or loss. On March 21, 2024, the Group issued SEK500 million (equated to $49.5 million at the date of issuance) of senior unsecured bonds due in 2026 under the SMTN. The notes have a floating coupon rate corresponding to three-month STIBOR plus 2.5% per annum. On June 24, 2024, the Group issued SEK750 million (equated to $74.2 million at the date of issuance) of senior unsecured bonds due in 2026 under the SMTN. The notes have a floating coupon rate corresponding to three-month STIBOR plus 1.8% per annum. On June 24, 2024, the Group issued SEK250 million (equated to $24.7 million at the date of issuance) of senior unsecured bonds due in 2027 under the SMTN. The notes have a floating coupon rate corresponding to three-month STIBOR plus 2.1% per annum. On June 18, 2025, the Group issued SEK600 million (equated to $65 million at the date of issuance) of senior unsecured bonds due in 2027 under the SMTN. The notes have a floating coupon rate corresponding to three-month STIBOR plus 1.6% per annum. On June 18, 2025, the Group issued SEK900 million (equated to $98 million at the date of issuance) of senior unsecured bonds due in 2028 under the EMTN. The notes have a floating coupon rate corresponding to three-month STIBOR plus 1.8% per annum. During 2025, 2024 and 2023, a total of nil, $34 million and $66 million, respectively, of notes issued under the SMTN matured. In 2025, no notes were repurchased and in 2024, an aggregate of $8 million of notes issued under the SMTN were repurchased. The notes are senior unsecured obligations of Klarna and rank equally in right of payment to all of Klarna’s existing and future senior debt and senior in right of payment to all of Klarna’s existing and future subordinated debt. In 2025, 2024 and 2023, the Group recognized $10 million, $5 million and $4 million, respectively, of interest expense related to senior unsecured bonds, which are included within funding costs in the consolidated statements of profit or loss. Subordinated liabilities Subordinated liabilities consist of Tier 2 securities (“Tier 2 Notes” or “Subordinated liabilities”) which are floating rate subordinated securities with a fixed redemption date. The securities rank senior in right of payment to any liabilities or capital instruments of the issuer which constitute CET1 capital or Additional Tier 1 capital, as defined in Note 21, and junior in right of payment to all of depositors, any unsubordinated creditors or any subordinated creditors of the issuer whose rights are expressed to rank in priority to the noteholders by statute or regulation. The securities rank pari passu with any liabilities or capital instruments of the issuer which constitute Tier 2 capital and any other liabilities or capital instruments that rank, or are expressed to rank, equally with the securities. As of December 31, 2025, all outstanding Tier 2 securities were issued by Klarna Holding AB. The Tier 2 Notes bear a variable rate of interest consisting of a reference rate plus a margin ranging from 7.0% to 7.5% until the redemption date. Interest on the securities is due and payable on a quarterly basis. The securities are redeemable by the Company at any time during the initial call period, which is the fifth anniversary from the initiation issue date, or at any interest payment date falling after the initial call period, subject to permission from the SFSA. The Company is required to redeem all outstanding Tier 2 Notes on the final redemption date, as specified in the terms of the applicable agreement. The Tier 2 Notes were determined to be liability classified under IAS 32 “Financial Instruments: Presentation” and are initially recorded at fair value based upon proceeds received, net of issuance costs and subsequently accounted for at amortized cost with interest expense recognized within funding costs in the consolidated statements of profit or loss. On May 16, 2023, Klarna Holding AB issued SEK 500 million (equated to $50 million at the date of issuance) of subordinated notes due 2033. The notes have a floating coupon rate corresponding to three- month STIBOR plus 7.5% per annum. The notes have a first call date of May 16, 2028. On August 16 2023, Klarna Holding AB issued SEK 250 million (equated to $25 million at the date of issuance) of subordinated notes due 2033. The notes have a floating coupon rate corresponding to three- month STIBOR plus 7.5% per annum. The notes were issued in a private placement and have a first call date of August 16, 2028. On April 19, 2024, Klarna Holding AB issued $100 million of subordinated notes due 2034 under the EMTN. The notes have a floating coupon rate corresponding to SOFR plus 7% per annum. The notes were issued in a private placement and have a first call date of August 16, 2028.
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Other liabilities |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Miscellaneous liabilities [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | Other liabilities The Group’s other liabilities as of December 31, 2025 and 2024 consisted of:
____________ 1 Refer to Note 16 for further details on payable to SPV. Lease liabilities For information on the contractual maturity of lease liabilities refer to Note 9. Commercial agreement liabilities Commercial agreement liabilities represent unpaid costs relating to commercial agreement assets. Provisions The Group recognizes provisions for present obligations arising from past events when payment of the obligations is probable and can be reliably estimated. Provisions primarily consist of consumer refund commitment, and pending legal and tax litigation. Changes in provisions were immaterial in 2025 and 2024. Klarna offers a Buyer Protection Policy, pursuant to which the Group reimburses consumers in certain circumstances, including where a merchant does not adequately resolve a purchase return for purchases made using a Klarna payment method. The Group recognizes a provision for the expected unrecovered portion of such reimbursements. The total gross transaction value covered by the Buyer Protection Policy as at December 31, 2025 and 2024 was $889 million and $778 million, respectively, which, while not representing a liability, contingent liability, or commitment, represents the underlying exposure used in measuring the related provision. From time to time, we are involved in various legal, arbitration, dispute and administrative proceedings arising in the ordinary course of our business where the probability of an outflow is considered remote. If, contrary to the Group’s expectations, a future obligation were to arise from such matters pending as of December 31, 2025, the aggregate outcomes could total up to potential of $130 million. Card scheme liabilities Card scheme liabilities relate to card processing fees owed by the Company to card payment networks or third parties for facilitating and processing transactions.
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Structured entities |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Structured Entities [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Structured entities | Structured entities Klarna enters into arrangements with structured entities, and consolidates such entities where it has power over key activities and exposure and ability to influence its own returns, and does not consolidate such entities where those conditions are not me. Consolidated structured entities Warehouse financing facility During 2025 Klarna entered into a warehouse financing facility with an institutional lender, as the funder, and Klarna Bank AB, a subsidiary of Klarna Group plc, as the borrower, under which the consolidated SPV issues credit-linked notes (“CLNs”) to the funder and advances the proceeds to Klarna, which in turn pledges specified pools of consumer receivables as collateral, see Note 19. Credit risk for the Reference Pool is separated into two tranches: a junior tranche retained by Klarna and a senior tranche transferred to the funder through the consolidated SPV. The CLNs are recognized within Notes Payables and Other Borrowings, see Note 14, and are classified and measured at amortized cost using the effective interest method. Interest and senior expenses related to the facility are recognized within funding costs. Employee benefit trust Klarna has established an employee benefit trust to facilitate and meet obligations to employees in relation to share-based remuneration arrangements. See Note 22. Unconsolidated structured entities Synthetic securitizations Klarna enters into synthetic securitization transactions with unconsolidated SPVs, where it economically transfers a portion of credit risk for certain pools of consumer receivables (the “referenced pools”) with the primary objective to lower the regulatory capital risk weights of the underlying assets. Credit risk for each referenced pool is separated into three tranches: junior, mezzanine and senior. The Company retains the risk for the junior and senior tranches and transfers risk for the mezzanine tranche to the SPV. The SPV then issues credit-linked notes to investors. While Klarna pays a fee, recognized as incurred in funding costs, see Note 18, Klarna is not exposed to variability in the returns of the SPVs involved in the synthetic securitization transactions. The premiums paid by Klarna are structured to mitigate, rather than introduce, variability of returns within the reference portfolio. Furthermore, Klarna is not considered the sponsor of the SPVs, as their management and operations are exclusively conducted by independent external service providers. The Company incurred fees of $30.7 million, $32.3 million and $21.9 million for 2025, 2024 and 2023, respectively, in connection with such transactions. The total consumer receivable pool was $1.3 billion, $2.1 billion and $1.7 billion as of December 31, 2025, 2024 and 2023, respectively. Forward flow securitizations Klarna entered into forward flow loan sale arrangements with unconsolidated SPVs whereby specified pools of eligible consumer receivables were transferred to the SPVs. Klarna derecognized these receivables upon transferring the contractual rights to the cash flows and substantially all associated risks and rewards. These agreements are fixed-term in nature, with commitment periods ranging from to three years, during which Klarna sells eligible Fair Financing and Pay Later receivables shortly after origination. The purchasing counterparty is committed to purchase all eligible loans offered up to its commitment amount, which varies between approximately $750 million and $1 billion measured by the outstanding balance of purchased receivables. The following table shows the carrying amount of Klarna’s recorded interest in its consolidated balance sheet as at December 31, 2025 and 2024, and represented the maximum exposure to risk associated with its interest in the unconsolidated structured entities. The maximum exposure reflects the total potential loss the Group could incur from its involvement, regardless of the likelihood of that loss being incurred.
____________ 1 The pledged assets are included within bonds and other interest-bearing securities, see Note 19. 2 The Company’s payable to SPV are included within other liabilities, see Note 15. The total consumer receivables originated at fair value through profit and loss or at fair value through OCI during 2025 totaled $18 billion, of which $786 million was unsold as of December 31, 2025. During 2024, $3.3 billion was originated, of which $2 million was unsold as of December 31, 2024. See Note 20. Following the transfer of consumer receivables Klarna typically continues to service the sold receivables on behalf of the SPVs for a servicing fee. The Company earned servicing income of $12.2 million and $1.6 million for 2025 and 2024, respectively, recognized within Transaction and service revenue related to derecognized receivables. The servicing fees were commensurate with market rates and did not expose Klarna to credit losses beyond its contractual entitlements. The servicing arrangement did not constitute a form of retained interest that precluded derecognition. As of December 31, 2025 and 2024, an aggregated balance of $2.94 billion and $867 million, respectively, in sold receivables was recognized by the unconsolidated SPVs. In addition, we may experience a loss due to future repurchase obligations resulting from breaches in representations and warranties in our securitization and third-party sale agreements. This amount was not material as of December 31, 2025 and 2024. |
Funding costs |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Expenses by nature [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Funding costs | Funding costs The Group’s funding costs for the years ended December 31, 2025, 2024 and 2023 were as follows:
Fair value adjustment on loans sold and held for sale relates to Pay Later receivables originated within the business model originate to sell and measured at FVTPL. See Note 16 .
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Derivatives |
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| Derivatives Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives | Derivatives The Group enters into derivative financial instruments to manage its interest rate and foreign exchange risk. Derivative instruments are initially and subsequently measured at fair value with changes to fair value recognized immediately within funding costs in the consolidated statements of profit or loss. When the fair value of derivative instruments is positive, they are carried as assets and carried as liabilities when their fair value is negative. As of December 31, 2025 and 2024, Klarna had entered into derivatives with the gross nominal amount of $8.3 billion and $7.4 billion, respectively. The Group’s derivatives are composed of:
Foreign exchange derivatives Foreign exchange derivatives are not designated in a hedge accounting relationship and had contractual maturities within six months of December 31, 2025 and four months of December 31, 2024, respectively. Derivatives designated in a hedge relationship Fair value hedges The Group holds short- and medium-term consumer deposits which are subject to changes in fair value due to fluctuations in the underlying interest rate benchmark, which is typically the most significant component of the overall fair value change. The Group uses interest rate swaps as the hedging instrument to reduce the impact of fair value changes in the consumer deposits (hedged item) due to changes in the underlying interest rate benchmark. For hedges of interest rate risk, ineffectiveness can arise due to mismatches of critical terms and/or the use of different curves to discount the hedged item and instrument, as in, for example, a mismatch between the reset frequency of the swap and the benchmark frequency.
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Pledged assets, guarantees and commitments |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of assets pledged, Guarantees And Commitments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pledged assets, guarantees and commitments | Pledged assets, guarantees and commitments Pledged assets The Group pledges certain assets to be used as collateral to secure specific financial obligations. The pledged assets include certain consumer receivables, other receivables, treasury bills and other interest- bearing securities. These assets are subject to claims by creditors in the event of default on the associated liabilities. The following table provides details of the Group’s pledged assets.
Assets pledged for own liabilities consists of consumer receivables which have been used to secure the borrowings under the warehouse financing facility. Commitments and guarantees
Commitment to fund loans as at December 31, 2025 amounted to USD3,963m (1,655m). The Group’s commitments for loan funding increased in 2025 compared with 2024, reflecting continued growth in the Norwegian market. In Norway, regulation requires the Group to set and communicate an individual credit limit to each customer. The undrawn portion of the approved limit constitutes a loan commitment. The Company’s commitments were primarily classified as Stage 1 with immaterial impacts to provisions as of December 31, 2025 and 2024. Refer to Note 15 for further details on the Company’s provisions.
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Fair value measurement of financial assets and liabilities |
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| Fair Value Measurement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value measurement of financial assets and liabilities | Fair value measurement of financial assets and liabilities The following table shows the Group’s financial assets and liabilities measured at fair value on a recurring basis and identifies which of the three valuation levels the assets and liabilities have been classified into as of December 31, 2025 and 2024. For description of the fair value levels, see Note 2. No transfers between levels have been made during 2025 or 2024.
The Group’s methodology to measure fair value of these financial assets and liabilities is presented below. Consumer receivables at fair value through profit and loss or at fair value through other comprehensive income (OCI) Consumer receivables at fair value through profit and loss refers to specified pools of eligible consumer receivables which are managed within a business model whose objective is to originate and sell, as part of the Company’s forward flow transaction. See Note 16 . Consumer receivables at fair value through other comprehensive income refers to specified pools of eligible consumer receivables which are managed within a hold-to-collect-and-sell business model, under which cash flows are realized through both the collection of contractual principal and interest and the sale of receivables, as part of the Company’s forward flow transaction. See Note 16 . Fair value is determined using a discounted cash flow methodology that projects contractual cash flows over the remaining life of the instruments. Cash flows are adjusted for unobservable inputs, including a weighted-average lifetime probability of default, conditional loss given default, and prepayment rates reflecting an average modeled probability, based on portfolio-level assumptions applied at the reporting date are classified within Level 3 of the fair value hierarchy.. This consistent with the overall policy outlined in Note 2. The cash flows are discounted using observable zero-coupon rates, plus a portfolio-specific credit spread applied as a margin over the risk-free curve. Derivatives Derivatives fair value is estimated using third-party pricing models, which contain input parameters based on readily observable market data sources when available. Equity investments Equity investments comprise investments in listed and unlisted companies. Equity investments fair value is based on quoted market prices where available or valuation techniques using unobservable data. Level 3 equity investments represented investment in unlisted shares for which limited information was available. For these unlisted shares, the fair value is generally estimated using business enterprise values based on market transactions or by applying market multiples to the projected financial performance of the investments. The significant inputs to estimate fair value include the identification of peer groups, discount rates and revenue projections. Movements in Level 3 The following tables show a reconciliation of the opening and closing balances of Level 3 financial assets and liabilities which are recorded at fair value.
____________ 1 Fair value gains and losses recognized in the statement of profit or loss are included in other income (loss). Financial assets and liabilities measured at amortized cost The following tables show the fair value of financial instruments carried at amortized cost. They do not include financial assets and financial liabilities not measured at fair value where the carrying amount approximates fair value, which includes cash and cash equivalents, loans to credit institutions (included in debt securities), consumer receivables, settlement and trade receivables, payables to merchants, repurchase agreement liabilities (included in notes payable and other borrowings) and other liabilities.
Treasury bills chargeable at central banks and bonds and other interest-bearing securities, included within debt securities in the consolidated balance sheet are valued in terms of the active market prices. The calculation of fair value of consumer deposits is based on Level 2 input using observable market data. Consumer deposits are grouped into maturity buckets and thereafter the net present value is calculated based on the remaining maturity and the corresponding interest rate. The table below represents net results from categories of the following financial instruments for the years ending December 31, 2025 and 2024.
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Issued capital and reserves |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of classes of share capital [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issued capital and reserves | Issued capital and reserves Share capital Share capital includes the nominal value of ordinary shares, Class B shares and deferred shares issued and outstanding. The excess of the consideration received from issuance of shares over their nominal value is recognized as additional paid in capital. On May 23, 2024, Klarna Holding AB (publ) completed a reorganization, which resulted in Klarna Group plc becoming the new ultimate parent company of the Group. Through a series of share for share exchange steps, the shareholders of Klarna Holding AB (publ) exchanged their shares for an equal number of shares in Klarna Group plc. As a result of our corporate reorganization, Klarna Group plc became our ultimate holding company and the parent company of Klarna Holding AB (publ). There was no change in the legal ownership of any of the assets of Klarna Holding AB (publ), nor any change in the ultimate controlling ownership of existing shares or securities of Klarna Holding AB (publ) or Klarna Group plc as a result of the reorganization. As at December 31, 2025, our issued and outstanding share capital consists of 377,507,910 ordinary shares and 328,136,589 Class B shares as per below table:
On June 30, 2025, the board of directors of the Company was granted the authority from our shareholders to allot new ordinary shares and other shares, and to grant rights to subscribe for, or to convert any security into, new ordinary shares or other shares, up to a maximum aggregate nominal amount (i.e., par value) of $367,502.51, for a period expiring (unless previously renewed, varied or revoked by the Company in general meeting) at the conclusion of the Company’s annual general meeting to be held in 2026 (or, if earlier, on June 30, 2026). The holders of ordinary shares are entitled to one vote per share on all matters to be voted upon by the shareholders, are entitled to receive ratably such dividends, if any, as may be approved from time to time by the Board of Directors out of funds legally available for such dividends, and in the event of liquidation, dissolution or winding-up of Klarna Group plc, the holders of ordinary shares are entitled to share ratably in all assets remaining after payment of Each Class B share will be entitled to ten votes per share but will have no dividend or other effective economic rights. Class B shares are not transferable. Following certain transfers of interests in our ordinary shares by holders of our Class B shares or their affiliates, a related number of their Class B shares will automatically convert into deferred shares, which have no voting or effective economic rights. Additionally, all Class B shares will automatically convert into deferred shares after 20 years from the initial public offering and in certain other specified circumstances. Class B shares and deferred shares into which Class B shares may convert will not have any effective economic rights because they will not have a right to dividends and will participate in our liquidation, dissolution or winding up only after we distributed to holders of our share capital $10.0 million for each ordinary share and $5.0 million for each Class C share they hold, which we do not expect to occur. In March 2025, Klarna Group plc’s board of directors approved a subdivision of ordinary shares of Klarna Group plc on a 1-to-12 basis, which was effected on March 6, 2025. The subdivision also resulted in the issuance of 365,445,384 deferred shares with a nominal value per share of $0.0007333. This number included 148,812 deferred shares in respect of ordinary shares that were issued in January 2025. Such deferred shares had no voting rights and no effective economic rights, because such shares did not have a right to dividends and would have only participated in a liquidation, dissolution or winding-up after the Company distributed to its shareholders $10.0 million for each ordinary share ($5.0 million for each Class C share) then in issuance, which the Company does not expect to occur. During 2025, an aggregate of 12,211,338 ordinary shares was issued related to: •299,572 ordinary shares granted to employees, including our executive officer; •5,000,000 ordinary shares were issued under the initial public offering on September 10, 2025, with directly attributable transaction costs related to the issuance of new ordinary shares of $8.5 million deducted from equity. These costs, primarily underwriting fees, were offset against the gross proceeds, with only the net proceeds recognized in Additional paid in capital; •2,563,600 ordinary shares were issued following exchanges of ordinary shares in a subsidiary of Klarna Group plc pursuant to vesting of the Group’s Legacy RSU program; •1,948,166 ordinary shares were issued following an exchange of ordinary shares in a subsidiary of Klarna Group plc pursuant the Group’s Employee Equity Program; •2,400,000 ordinary shares were issued following exercise of share warrants granted to certain partners in exchange for services. Immediately prior to the completion of initial public offering 369,911,294 Class B shares with a nominal value of $0.0001 and 369,911,294 deferred shares with a nominal value of $11.35013 were issued to holders of our ordinary shares at that time. These shares were issued by capitalizing the merger reserve, recognized within additional paid in capital, that arose for statutory purposes under the Companies Act 2006 in connection with the incorporation of Klarna Group plc in 2024. Upon ordinary shares being sold by selling shareholders in the IPO, including following the exercise of the over-allotment option by the underwriters to purchase additional ordinary shares from selling shareholders, and post-IPO transfers, 41,774,705 Class B shares were redesignated into deferred shares with a nominal value of $0.0001. In September 2025, Klarna Group plc capitalized the UK statutory merger reserve, reallocating $4.2bn billion from additional paid-in capital to share capital. Subsequently, in November 2025, Klarna Group plc completed a capital reduction under the UK Companies Act to create distributable reserves, cancelling the balance standing to the credit of its share premium account and all of its then-existing deferred shares resulting in a reallocation within equity with $4.6 billion reallocated from share capital and additional paid in capital to retained earnings. This transaction resulted in no change to total equity, and had no impact on profit or loss or cash flows. Additional paid-in capital In addition to the excess of the consideration received from issuance of shares over their nominal value, additional paid-in capital also includes any other contributions made by the shareholders of the Company, share-based payments and any incremental costs directly attributable to the issuance of shares shown as a deduction from equity. During 2025, 2024 and 2023, the Company’s proceeds related to new share issuances were recognized net of $8.5m, nil and nil of issuance costs, respectively. Reserves Reserves comprise foreign currency translation differences arising from the translation of the assets and liabilities of foreign operations, and the cumulative net changes in fair value of debt instruments classified as financial assets at fair value through other comprehensive income (“FVOCI”), including related expected credit loss movements. Amounts recognized in other comprehensive income are subsequently reclassified to profit or loss upon derecognition of the underlying financial assets. Non-controlling interests Non-controlling interests primarily consist of Additional Tier 1 (“AT1”) securities, issued by subsidiaries of Klarna Group plc, which are floating rate perpetual subordinated securities with no fixed maturity or redemption date. The securities rank behind the claims against Klarna’s unsubordinated creditors including any instruments that constitute Tier 2 Notes and are pari passu with the claims of other holders of AT1 securities issued by the Group in the event of a bankruptcy or liquidation. The securities bear a variable rate of interest based on the three-month STIBOR rate until the redemption date. Interest on the securities will be due and payable only at the sole discretion of Klarna, and the Company may at any time elect to cancel any interest payment (or any part thereof) which would otherwise be payable on any interest payment date. There are also certain restrictions on the payment of interest as specified in the terms. The notes are perpetual and have no fixed date for redemption. The AT1 securities are redeemable at the option of the Company at any time during the initial call period, which is the fifth anniversary from the initiation issue date, or at any interest payment date falling after the initial call period. In addition, Klarna can redeem all outstanding AT1 securities on any interest payment date or vary their terms for certain regulatory or tax reasons. Any repayments require the prior consent of the Swedish FSA. If at any time the Group’s consolidated Additional Tier 1 ratio should fall below 7%, a write-down is made as a reduction of the total nominal amount and considered to be an unconditional capital contribution by the AT1 holders. Following a write-down of the total nominal amount, Klarna, at its discretion but subject to obtaining relevant approval from its shareholders, can reinstate any portion of the principal of the AT1 securities. Unless write-up of the principal of the AT1 securities is permitted and possible in accordance with Central Security Depositories (“CSD”) regulations, reinstatement shall be made by way of issuing new notes that qualify as AT1 capital. During 2025, 2024 and 2023 the Company issued nil, $142 million and $27 million of AT1 securities, respectively, and redeemed nil, nil and $24 million of AT1 securities, respectively. Following the Group’s corporate reorganization in May 2024, AT1 securities are considered non-controlling interests as they are issued by subsidiaries of Klarna Group plc. Non-controlling interests also include equity interests arising from share-based payment arrangements under which certain participants were granted ownership interests in subsidiaries of Klarna Group plc.
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Share-based payments |
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| Disclosure of terms and conditions of share-based payment arrangement [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based payments | Share-based payments This Note 22 provides an overview of the various share-based payment costs during the periods and additional information on the different equity-based programs. Certain of the equity-based instruments described below were issued by our subsidiaries and/or convert into ordinary shares of our subsidiaries. The increase in share-based payment costs in 2025 compared to prior periods principally reflects the establishment of the Company's equity compensation programs at the Klarna Group plc level in connection with the Company's initial public offering, and the grant of share warrants to partners in exchange for consumer acquisition services. The expense recognized during the year is based on grant- date fair values and fair value of services received, in accordance with IFRS 2, for awards that are subject to multi-year vesting schedules and exercise prices that may significantly exceed the current share price. The following table presents share-based payment costs, inclusive of social security charges, recognized in 2025, 2024 and 2023 in the consolidated statements of profit or loss:
Expense recognized in 2025, 2024 and 2023 was inclusive of social security charges of $9 million, $13 million and $0.3 million respectively. Excluding social security charges, share-based payment costs were $148 million, $81 million and $44 million for 2025, 2024 and 2023, respectively. The table below includes additional details regarding RSUs, share warrants and options, issued by Klarna Group plc as of, and for the year ended, December 31, 2025. The increase in instruments outstanding during 2025 reflects the establishment of the Company's post-IPO equity incentive framework, including the Omnibus Incentive Plan, the Klarna Group plc RSU Program, and the C Share Awards Plan, each as described in Item 6. The Class C share options column relates exclusively to awards granted to Mr. Siemiatkowski:
____________ 1 Where share options were granted in SEK, the input has been converted to USD using the average exchange rate for the period for presentation purposes. 2 two Class C share options entitle the recipient to acquire, at the recipient's election, either one ordinary share or two Class C shares on exercise. Weighted average exercise prices for Class C share options are expressed per Class C share; the equivalent exercise price expressed per ordinary share is double the figures shown. All Class C share options outstanding as of December 31, 2025 were granted exclusively to Mr. Siemiatkowski under the C Share Awards Plan described in Item 6. 3 In 2025, the terms of 1,477,164 share options originally granted to Mr. Siemiatkowski in the fourth quarter of 2024 were amended to allow such options to be exercised into 2,941,236 Class C shares (or 1,470,618 ordinary shares), reflecting the conversion ratio under which two Class C share options correspond to one ordinary share. The amendment did not reduce the exercise price of the underlying award; the weighted average exercise price of $19.1 per Class C share shown above is equivalent to $38.2 per ordinary share, consistent with the original grant terms. The modification did not result in an incremental share-based payment charge. The table below includes additional details regarding RSUs and share warrants, issued by a subsidiary of Klarna Group plc, as of, and for the year ended, December 31, 2025:
____________ 1 Legacy RSUs granted in SEK have been converted to USD using the average exchange rate for each period for presentation purposes. 2 Where share warrants were granted in SEK, the input has been converted to USD using the average exchange rate for the period for presentation purposes. Employee Restricted Share Unit Programs The Group operates two Restricted Share Unit programs: the Legacy RSU Program and Klarna Group plc RSU Program. The Legacy RSU Program was implemented in 2020. It is available to certain employees as well as certain third-party contributors. Each participant is granted a set number of Legacy RSUs on the grant date, which generally vest over a four years graded vesting schedule, with 25% of the total shares vesting each year. Upon vesting, one Legacy RSU entitles the holder to receive one share in a subsidiary, reflected as non-controlling interest in the consolidated financial statements. If the participant leaves Klarna, unvested RSUs are forfeited. It is intended that at a future date shareholders will have the opportunity to exchange their subsidiary company shares for Klarna Group plc shares. The number of Klarna Group plc shares to be exchanged is dependent upon the value of Klarna Group at the time of the exchange. If an exchange between subsidiary share and Klarna Group plc share would have taken place as at the end of 2025, 2024 and 2023, the exchange yield would have been 0.25, 0.25 and 0.24 shares of Klarna Group plc share for one subsidiary share, respectively. The number of equivalent Klarna Group plc shares is presented as if the Legacy RSUs program issued by a subsidiary of Klarna Group plc had been exchanged into Klarna Group plc ordinary shares as of the reporting date. If exchanged, the number of shares exchanged is dependent on the value of Klarna Group plc at the time of exchange. In 2025, a new RSU Program (the “Klarna Group plc RSUs”) was established as a separate share-based payment program. Each participant is granted a set number of Klarna Group RSUs on the grant date, which generally vest over a four-year staggered vesting schedule, with 25% of the total shares vesting each year. Upon vesting, one Klarna Group plc RSU entitles the holder to receive one ordinary share in Klarna Group plc. If the participant leaves Klarna, unvested RSUs are forfeited. The number of shares distributed to employees under both the Legacy RSU Program and the Klarna Group plc RSU Program is approved by the board of directors of Klarna, and accounted for as equity- settled share-based payments. The share-based compensation expense is based on the grant-date fair value of the awards and recognized over the vesting period, in line with the graded vesting method. The fair value of both RSU Programs is determined with reference to the Klarna Group plc share price. Upon vesting, in accordance with certain countries’ tax laws, we are required to withhold an amount to settle the employee’s tax associated with a share-based payment and transfer that amount in cash to taxing authorities on the employee’s behalf. Such amounts are withheld from our employees in accordance with applicable laws, either through deduction of salary or withholding a number of vested shares. Share Warrants and Share Options In certain jurisdictions, the Group offers share warrants and options to certain individual contributors, including employees as well as executive officers and directors. Prior to 2024, these were awarded in the form of share warrants issued by a subsidiary of Klarna Group plc. In 2024, the Group also began granting share options to acquire ordinary shares of Klarna Group plc ("Ordinary share options"). In 2025, the Remuneration and Nomination Committee also approved the grant of options to acquire Class C shares ("Class C share options") to Mr. Siemiatkowski under the C Share Awards Plan, as described in Item 6. The warrants and options are subject to graded vesting over a term of typically to five years. The awards are accounted for as equity-settled share-based payments, with the fair value determined at the grant date and expensed over the vesting period, based on the Group’s estimate of the number of awards that will eventually vest. The Group has issued share warrants and options by both Klarna Group plc and subsidiaries of Klarna Group plc. Each share warrant issued by a subsidiary of Klarna Group plc entitles the recipient to purchase one ordinary share in Klarna Holding AB (publ) or a subsidiary at the agreed strike price. We anticipate periodically facilitating the exchange of subsidiary shares acquired upon exercise of such warrants into ordinary shares of Klarna Group plc. If exchanged, the number of shares exchanged is dependent on the value of Klarna Group plc at the time of exchange. If such an exchange would have taken place at the end of 2025, 2024 and 2023, the exchange yield would have been 12, 12 and 12 shares for one subsidiary share, respectively. The number of equivalent Klarna Group plc shares is presented as if the share warrants issued by a subsidiary of Klarna Group plc had been exchanged into Klarna Group plc ordinary shares as of the reporting date. Each ordinary share option or warrant issued by Klarna Group plc entitles the recipient to purchase one ordinary share in Klarna Group plc at the agreed strike price. Two Class C share options entitle the recipient to acquire either one ordinary share or two Class C shares, at the recipient's election. As described in Item 6, Class C shares carry enhanced voting rights, subject to an annual acquisition limit and an aggregate voting cap. All Class C share options outstanding were granted exclusively to Mr. Siemiatkowski. In 2025, the board of directors of the Company, acting on the recommendation of the Remuneration and Nomination Committee, approved the grant of options to acquire 8,834,736 ordinary shares to members of the Company's management team at a weighted average exercise price of $104 per share. Additionally, the Remuneration and Nomination Committee granted options to acquire 17,505,672 Class C shares to Mr. Siemiatkowski at a weighted average exercise price, expressed as the equivalent of one ordinary share, of $91.8, as further described under "Equity Compensation paid to Mr. Siemiatkowski" in Item 6. The Committee also amended the terms of options granted to Mr. Siemiatkowski in the fourth quarter of 2024 to allow for such options to be exercised into 2,941,236 Class C shares (or 1,470,618 ordinary shares); this amendment did not reduce the exercise price of the underlying award. As of the date of this report, all of these options remain substantially out of the money. Mr. Siemiatkowski may elect to acquire, in his discretion, either ordinary shares or Class C shares upon the exercise of such Class C options. Certain warrants have been acquired by employees in exchange for a cash payment of the fair market value at grant date. Since preemption rights related to these awards transfer over a specified period they are accounted for as equity-settled share-based payments; however, no associated expense is recognized. Klarna has granted share warrants to selected partners, including merchants and other service providers, in return for services. In 2025 and 2024, we entered into commercial agreements with certain partners under which we granted warrants in exchange for consumer acquisition services to expand our user base, which we determined to be distinct. These arrangements are equity-settled and are accounted for as equity-settled share-based payments. In 2025, we entered into commercial agreements with certain partners under which we granted 15,740,059 warrants, each warrant to acquire one ordinary share in Klarna Group plc, in exchange for consumer acquisition services to expand our user base and brand awareness. We determined the fair value of such services to be $233 million comprising consumer acquisition of $50 million and brand awareness of $183 million, using the direct method, and recognized such costs as share-based payments expense, included in sales and marketing, over the expected performance period within the commercial agreement. During 2025, 3,910,393 warrants vested, of which 2,400,000 warrants were exercised. The underlying services are expected to be provided over the five-year term of the agreement. We recognized an expense of $27 million related to the fair value of the services in 2025, deferring $75 million of expense to be recognized over the period of the agreement when the services are expected to be provided. The grant of the warrants gives rise to a tax charge in the year of grant which is recoverable to the extent warrants are exercised. We recognized a current tax liability of $48 million in connection with the grant during the first quarter of 2025, with the associated tax charge recognized in equity. Upon exercise of the 2,400,000 warrants during the second quarter of 2025, the related current tax liability was reduced by $22 million. The remaining tax expense is expected to be recoverable when the warrants are exercised. In 2024, 1,299,360 warrants were granted, each warrant to acquire one ordinary share in Klarna Group plc, under such arrangements, in exchange for consumer acquisition services to expand our user base and brand awareness. We determined the fair value of the services to be $17.9 million, using the direct method for customer acquisition costs and this is recognized as share-based payments expense, included in sales and marketing, over the relevant performance period within the commercial agreement. We have also granted warrants to certain merchants for non-distinct services and the costs related to these warrants are recognized as a reduction of revenue. In 2025, the Company, through its indirectly wholly owned subsidiary, Klarna Bank AB, repurchased an aggregate of 1,267,752 warrants to acquire Klarna Holding AB’s ordinary shares (such warrants, “KHAB warrants”), which were issued prior to our corporate reorganization at various times under our legacy equity incentive schemes. The repurchase price for the KHAB warrants was $17.2 million, based on the initial public offering price of $40.00 per ordinary share, being the fair value of the equity instrument at the date of repurchase. All KHAB warrants repurchased were fully vested at the repurchase date, except 6,456, for which an accelerated expense of less than $0.1 million was recognized at the repurchase date. For warrants issued by a subsidiary of Klarna Group plc, the range of exercise prices for warrants outstanding as of December 31, 2025, 2024, and 2023 is between$0.10 and $1,508. The weighted average remaining contractual life is 1.9 years, 2.7 years and 3.5 years as of December 31, 2025, 2024, and 2023 respectively. The number of exercisable warrants was 40,000, and 51,500 as of December 31 2024 and 2023, respectively, and there is no new exercisable warrant of this category in 2025. For warrants issued by Klarna Group plc, the range of exercise prices for warrants outstanding as of December 31, 2025 and 2024 is between $34 and $51. The weighted average remaining contractual life is 4.2 years and 3 years as of December 31, 2025 and 2024, respectively. The number of exercisable warrants and options is 2,145,590 and 1,299,360 as of December 31, 2025 and 2024, respectively. For options issued by Klarna Group plc, the range of exercise prices for options outstanding as of December 31, 2025 and 2024 is between $38 and $114. The weighted average remaining contractual life for share options was 3.4 years and 3.6 years as of December 31, 2025 and 2024, respectively. The number of exercisable share options was 2,935,177 and 1,460,856 as of December 31, 2025 and 2024, respectively. For C Class options issued by Klarna Group plc, the range of exercise prices for C Class options outstanding as of December 31, 2025 is between $19 and $57. The weighted average remaining contractual life is 3.7 years as of December 31, 2025. The number of exercisable C Class options is 9,523,581 as of December 31, 2025. There were no C Class options outstanding prior to the year ended December 31, 2025. Klarna uses the Black-Sholes model when calculating the fair value of share warrants and options granted to individual contributors, as well as certain partners when the fair value of goods and services cannot be reliably measured. The Company does not anticipate paying any cash dividends in the near future and, therefore, uses an expected dividend yield of zero in the option valuation model. The expected volatility is determined taking into consideration the historical volatility of the Company’s common share and the historical volatility of comparable public companies. The risk-free rate for instruments issued by subsidiary of Klarna Group plc is based on Swedish Central Bank (Sw. Sveriges Riksbank) bonds. The risk free-rate rate for instruments issued by Klarna Group plc is based on U.S. treasury bonds.. The inputs used within the model for the share warrants and options granted were:
____________ 1 Where share warrants in 2025, 2024 and 2023 were granted in SEK, the input has been converted to USD using the average exchange rate for the year for presentation purposes. The weighted average fair value of warrants issued by a subsidiary of Klarna Group plc granted during 2024 and 2023 was $17 and $16. The weighted average fair value of options issued by Klarna Group plc granted during 2025 and 2024 was $53 and $9. The weighted average fair value of C Class Options issued by Klarna Group plc granted during 2025 was $29. Equity-Related Instruments Granted in Connection with Business Acquisitions The Group issued equity in Klarna Holding AB (publ) to acquired employees in relation to several business acquisitions in 2020, 2021 and 2022. The equity grant included a four-year vesting period and is accounted for as equity-settled share-based compensation and recognized as a post-business combination expense. When employees exited the Company during the periods, the future personnel costs associated with the unvested equity were expensed in the statement of profit or loss on the last day of employment. The instruments have been measured based on the fair market value of the underlying ordinary shares at the date of grant. In connection with the reorganization completed in May 2024, pursuant to which Klarna Group plc became the ultimate parent company of the Group, all remaining unvested equity-related instruments under this program were accelerated and expensed, resulting in the release of 329,484 shares during 2024 at a weighted-average grant-date fair value of $51 per share. As of December 31, 2024, there were no shares outstanding under this program. Employee Equity Program The Group had a restricted share award program in which some employees acquired restricted shares in a group subsidiary entity that retains an ownership interest in Klarna Bank AB (publ), which became fully vested in 2023. The restricted share awards were accounted for as an equity-settled share-based payment. The restricted shares were acquired by employees in exchange for a cash payment at fair market value, measured at the grant date, and therefore no associated expense was recognized. Upon vesting, participants retained ordinary shares in one of our subsidiaries holding an ownership interest in Klarna Bank AB (publ), reflected as non-controlling interest in the consolidated financial statements. The number of ordinary shares held in the group subsidiary entity as of December 31, 2024 and 2023 was 28,762 and 31,122, respectively. In 2024 and 2023, 2,347 and 10,693 shares held by former employees were exchanged for shares in Klarna Holding AB (publ), respectively. In April 2025, the 28,762 shares held by participants were exchanged for the issuance of 1,948,166 ordinary shares in Klarna Group plc. Direct Share Issuance During 2025 and 2024, the Group granted 150,760 and 216,468 ordinary shares in Klarna Group plc, respectively, to certain employees, including executive officers and Board of Directors. The shares were accounted for as equity-settled share-based payments. There were no vesting conditions or restrictions placed on the awards and, accordingly, the related share-based compensation expense, based on the grant-date fair value of the awards, was recognized immediately. The weighted average fair values of the ordinary shares granted were $34 and $34, in 2025 and 2024, respectively.
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Information on related parties |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of transactions between related parties [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Information on related parties | Information on related parties Milkywire In 2021, following a competitive selection process, Klarna engaged Milkywire AB ("Milkywire") to provide sustainability related services, including the sourcing, vetting and monitoring of climate and nature initiatives, as well as the facilitation of carbon credit purchases from third-party providers on Klarna's behalf. Milkywire was founded in 2018 by Nina Siemiatkowski, who is the spouse of Sebastian Siemiatkowski, our Co-Founder and Chief Executive Officer. Mrs. Siemiatkowski remains the chief executive officer and majority owner of Milkywire. Klarna paid Milkywire $0.9 million in 2025, $0.7 million in 2024 and $0.9 million in 2023 for sustainability related services. Separately, Klarna transferred to Milkywire an additional $0.5 million in 2025 and $1.0 million in 2024 for the purchase of carbon credits on Klarna's behalf; these amounts were paid in full by Milkywire to the third-party providers of the carbon credits and Milkywire did not retain any margin on these transactions. The engagement of Milkywire, including the fees paid, was approved by the board of directors with Mr. Siemiatkowski recusing himself from the related deliberations and approval, in accordance with the Company's conflicts of interest policies. The board believes the fees paid to Milkywire reflect competitive rates for the services provided.. WRLD Foundation The Company made charitable contributions of $2.3 million in 2025, $3.8 million in 2024 and $5.5 million in 2023 to the WRLD Foundation, a registered nonprofit organization in the United States and Sweden. Nina Siemiatkowski is a board member of the WRLD Foundation. The WRLD Foundation distributes all contributions received from Klarna to underlying recipient organizations that have been sourced and vetted by Milkywire as part of Klarna's planet health initiative; the identity of all recipient organizations has been reported to Klarna. These contributions were approved by the board of directors, with Mr. Siemiatkowski recusing himself from the related deliberations and approval. Compensation to the board of directors and senior management The table below summarizes the compensation paid or payable to the board of directors and senior management. The increase in total compensation from $14 million in 2023 to $99 million in 2025 principally reflects the introduction of equity-based compensation programs at the Klarna Group plc level in connection with the Company's initial public offering. The amounts reported for fixed and variable equity- based compensation represent grant-date fair values calculated in accordance with IFRS 2 and do not represent cash compensation paid to, or value currently received by, the recipients. A significant portion of the equity-based compensation reported in 2025 relates to awards with exercise prices substantially above the current share price, as further described in Note 22 and in Item 6:
In December 2024, the Group granted 216,468 ordinary shares and 400,065 share options to certain members of senior management. The shares were granted by the board of directors of Klarna Group plc and were accounted for as equity-settled share-based payments. During 2025, the Group granted 108,960 ordinary shares and 8,834,736 share options at a weighted average exercise price of $104 to certain members of senior management. Additionally, the board of directors, acting on the recommendation of the Remuneration and Nomination Committee, granted options to acquire 17,505,672 Class C shares to Mr. Siemiatkowski, and amended the terms of options previously granted to Mr. Siemiatkowski in the fourth quarter of 2024 to allow for such options to be exercised into 2,941,236 Class C shares (or 1,470,618 ordinary shares); this amendment did not reduce the exercise price of the underlying award. Two Class C share options entitle the recipient to either one ordinary share or two Class C shares, at Mr. Siemiatkowski's election. The weighted average exercise price, expressed as the equivalent of one ordinary share, is $91.8, representing a significant premium to the initial public offering price of $40.00. As of the date of this report, the share options granted to both senior management and Mr. Siemiatkowski remain substantially out of the money. The options vest over a four-year period. The shares and options described above were granted by the board of directors of Klarna Group plc, acting on the recommendation of the Remuneration and Nomination Committee, and were accounted for as equity-settled share-based payments, with the related expense recognized over the applicable vesting periods in accordance with IFRS 2 based on grant-date fair values. During 2025, the Company, through its indirectly wholly owned subsidiary, Klarna Bank AB, repurchased an aggregate of 1,267,752 warrants as detailed in Note 22 – Share-Based Payments. Of the total repurchased warrants, 17,500 were held by members of the Company’s management team. |
Income taxes |
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| Income taxes | Income taxes The table below represents income tax (expense) benefit, effective tax rate, deferred tax assets and deferred tax liabilities for the years ending December 31, 2025, 2024 and 2023:
Deferred tax assets attributable to carryforward of unused tax losses or other deductible temporary differences are recognized only to the extent that it is probable that future taxable profits will be available against which the unused tax losses and unused tax credits can be utilized. During 2025, 2024 and 2023, deferred tax assets and liabilities have been recognized resulting in a $6 million, $8 million and $73 million benefit in the consolidated statements of profit or loss, respectively. Deferred tax assets have been recognized where the recognition criteria are met, of which $5 million, $6 million and $72 million are in respect of tax losses for 2025, 2024 and 2023, respectively. The gross deferred tax assets and liabilities have been set off on the balance sheet to the extent the requirements for netting are met. Tax losses carried forward in the Group for which tax assets are not recognized in the balance sheet amount to $2.1 billion and $1.4 billion gross for the years ending December 31, 2025 and 2024, respectively. These carry forward tax losses primarily originated in Sweden and Germany, and there are no time restrictions on the use of these losses. Other deductible temporary differences which have not been recognized amount to $163 million and $0 million gross for the years ending December 31, 2025 and 2024, respectively. Deferred tax assets have not been recognized in respect of these temporary differences as they have not been assessed as likely to offset taxable profits elsewhere in the Group under the IAS 12 recognition criteria. The Group has applied the exception, mandated by an amendment to IAS 12, to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes.
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Net profit (loss) per share |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per share [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net profit (loss) per share | Net profit (loss) per share Basic loss per share is calculated by dividing the loss attributable to shareholders of Klarna Group plc by the weighted average number of ordinary shares outstanding during the period. Diluted profit (loss) per share is calculated similarly but includes the effect of potential ordinary shares using the treasury stock method, to the extent that the inclusion of these shares is dilutive. Potential ordinary shares consist of incremental shares issuable in connection with warrants and share options. The Group has also granted RSUs, restricted share awards and certain warrants in subsidiaries which are exercisable or convertible in subsidiary company shares and are not considered potential ordinary shares in Klarna Group plc. However, such instruments, which are potential ordinary shares in subsidiaries, may affect net profit (loss) per share due to their impact on non-controlling interest for Klarna Group plc. Due to the net loss and the resulting anti-dilutive effect in 2025 and 2023, all potential ordinary shares are excluded from the diluted loss per share calculation, and diluted loss per share equals basic loss per share for these periods. Potential ordinary shares in subsidiaries have an insignificant impact on non- controlling interest for purposes of the diluted profit per share for the year ended December 31, 2025. The computation of loss per share for the respective periods is as follows:
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Significant events after the end of the reporting period |
12 Months Ended |
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Dec. 31, 2025 | |
| Disclosure of non-adjusting events after reporting period [abstract] | |
| Significant events after the end of the reporting period | Significant events after the end of the reporting period The Group has evaluated all events that have occurred subsequent to December 31, 2025, through the date that the consolidated financial statements were approved on February 26, 2026 by the Board of Directors. No significant events have occurred during the subsequent period.
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Insider Trading Policies and Procedures |
12 Months Ended |
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Dec. 31, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
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Dec. 31, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | At Klarna, cybersecurity risk management is an integral part of our risk management framework. Our cybersecurity risk management program is based on industry best practices and provides a framework for handling cybersecurity threats and incidents, including threats and incidents associated with the use of services provided by third-party service providers, and facilitate coordination across different departments . This framework includes assessing the severity of a cybersecurity threat, identifying the source of a cybersecurity threat including whether the cybersecurity threat is associated with a third- party service provider, implementing cybersecurity countermeasures and mitigation strategies and informing management and our board of directors of material cybersecurity threats and incidents. Our cybersecurity team also engages third-party security experts for risk assessment and system enhancements.Our cybersecurity risk management program includes processes designed to identify and mitigate digital‑asset‑specific risks, such as private‑key management, third‑party custody and service provider dependencies. In addition, all employees are required to complete mandatory training on our cybersecurity framework
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | At Klarna, cybersecurity risk management is an integral part of our risk management framework. Our cybersecurity risk management program is based on industry best practices and provides a framework for handling cybersecurity threats and incidents, including threats and incidents associated with the use of services provided by third-party service providers, and facilitate coordination across different departments . This framework includes assessing the severity of a cybersecurity threat, identifying the source of a cybersecurity threat including whether the cybersecurity threat is associated with a third- party service provider, implementing cybersecurity countermeasures and mitigation strategies and informing management and our board of directors of material cybersecurity threats and incidents.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Our board of directors has overall oversight responsibility for our risk management, and delegates cybersecurity risk management oversight to the Audit Committee (AuditCo) of the board of directors. The AuditCo is responsible for ensuring that management has processes in place designed to identify and evaluate cybersecurity risks to which the company is exposed and implement processes and programs to manage cybersecurity risks and mitigate cybersecurity incidents. The AuditCo also reports material cybersecurity risks to our full board of directors. Management is responsible for identifying, considering and assessing material cybersecurity risks on an ongoing basis, establishing processes to monitor such potential cybersecurity risk, putting in place appropriate mitigation measures and maintaining cybersecurity programs. Our cybersecurity programs operate under the direction of our Chief Information Security Officer, or CISO who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. Our CISO and dedicated personnel are certified and experienced information systems security professionals and information security managers . Management, including the CISO, our cybersecurity team and our second line risk function, regularly update the AuditCo on the company’s cybersecurity programs, material cybersecurity risks and mitigation strategies and provide cybersecurity reports that cover, among other topics, third-party assessments of the company’s cybersecurity programs, developments in cybersecurity and updates to the company’s cybersecurity programs and mitigation strategies].
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | Our board of directors has overall oversight responsibility for our risk management, and delegates cybersecurity risk management oversight to the Audit Committee (AuditCo) of the board of directors. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | Management, including the CISO, our cybersecurity team and our second line risk function, regularly update the AuditCo on the company’s cybersecurity programs, material cybersecurity risks and mitigation strategies and provide cybersecurity reports that cover, among other topics, third-party assessments of the company’s cybersecurity programs, developments in cybersecurity and updates to the company’s cybersecurity programs and mitigation strategies].
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| Cybersecurity Risk Role of Management [Text Block] | Management is responsible for identifying, considering and assessing material cybersecurity risks on an ongoing basis, establishing processes to monitor such potential cybersecurity risk, putting in place appropriate mitigation measures and maintaining cybersecurity programs. Our cybersecurity programs operate under the direction of our Chief Information Security Officer, or CISO who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. Our CISO and dedicated personnel are certified and experienced information systems security professionals and information security managers . Management, including the CISO, our cybersecurity team and our second line risk function, regularly update the AuditCo on the company’s cybersecurity programs, material cybersecurity risks and mitigation strategies and provide cybersecurity reports that cover, among other topics, third-party assessments of the company’s cybersecurity programs, developments in cybersecurity and updates to the company’s cybersecurity programs and mitigation strategies].
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| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | Our cybersecurity programs operate under the direction of our Chief Information Security Officer, or CISO who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents.
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| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our CISO and dedicated personnel are certified and experienced information systems security professionals and information security managers |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | Our cybersecurity programs operate under the direction of our Chief Information Security Officer, or CISO who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents.
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| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Accounting principles (Policies) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||
| Disclosure Of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
| Basis of preparation | Basis of preparation and consolidation The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) Accounting Standards as issued by the International Accounting Standards Board (“IASB”) and have been prepared on a historical cost basis, except for equity investments, derivatives and consumer receivables at fair value through profit and loss or at fair value through other comprehensive income, which have been measured at fair value, and lease liabilities, which are measured at present value. These consolidated financial statements are prepared on a going concern basis. All amounts in the notes to the consolidated financial statements are stated in millions of United States Dollars (“USD”), unless otherwise stated. On May 23, 2024, Klarna Holding AB (publ) completed a reorganization which resulted in Klarna Group plc becoming the new ultimate parent company of the Group. Through a series of share for share exchange steps, the shareholders of Klarna Holding AB (publ) exchanged their shares for an equal number of shares in Klarna Group plc. As a result of our corporate reorganization, Klarna Group plc became our ultimate holding company and the parent company of Klarna Holding AB (publ). There was no change in the legal ownership of any of the assets of Klarna Holding AB (publ), nor any change in the ultimate controlling ownership of existing shares or securities of Klarna Holding AB (publ) or Klarna Group plc as a result of the reorganization. The accounting predecessor of Klarna Group plc is Klarna Holding AB (publ). The exchange has been presented on a retrospective basis as a reorganization transaction beginning in the earliest period presented. Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed, or has right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The consolidated subsidiaries of Klarna are consolidated as from the date when control is transferred to Klarna and deconsolidated from the date that control ceases. All intercompany accounts and transactions between members of the Group have been eliminated on consolidation. Share Split In March 2025, Klarna Group plc’s board of directors approved a subdivision of ordinary shares of Klarna Group plc on a 1-to-12 basis (the “Share Split”), which was effected on March 6, 2025. Refer to Note 21 for further details. Accordingly, all share data and per share data amounts for all periods presented in the consolidated financial statements and notes thereto have been retrospectively adjusted to reflect the effect of the Share Split.
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| Basis of consolidation | Basis of preparation and consolidation The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) Accounting Standards as issued by the International Accounting Standards Board (“IASB”) and have been prepared on a historical cost basis, except for equity investments, derivatives and consumer receivables at fair value through profit and loss or at fair value through other comprehensive income, which have been measured at fair value, and lease liabilities, which are measured at present value. These consolidated financial statements are prepared on a going concern basis. All amounts in the notes to the consolidated financial statements are stated in millions of United States Dollars (“USD”), unless otherwise stated. On May 23, 2024, Klarna Holding AB (publ) completed a reorganization which resulted in Klarna Group plc becoming the new ultimate parent company of the Group. Through a series of share for share exchange steps, the shareholders of Klarna Holding AB (publ) exchanged their shares for an equal number of shares in Klarna Group plc. As a result of our corporate reorganization, Klarna Group plc became our ultimate holding company and the parent company of Klarna Holding AB (publ). There was no change in the legal ownership of any of the assets of Klarna Holding AB (publ), nor any change in the ultimate controlling ownership of existing shares or securities of Klarna Holding AB (publ) or Klarna Group plc as a result of the reorganization. The accounting predecessor of Klarna Group plc is Klarna Holding AB (publ). The exchange has been presented on a retrospective basis as a reorganization transaction beginning in the earliest period presented. Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed, or has right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The consolidated subsidiaries of Klarna are consolidated as from the date when control is transferred to Klarna and deconsolidated from the date that control ceases. All intercompany accounts and transactions between members of the Group have been eliminated on consolidation. Share Split In March 2025, Klarna Group plc’s board of directors approved a subdivision of ordinary shares of Klarna Group plc on a 1-to-12 basis (the “Share Split”), which was effected on March 6, 2025. Refer to Note 21 for further details. Accordingly, all share data and per share data amounts for all periods presented in the consolidated financial statements and notes thereto have been retrospectively adjusted to reflect the effect of the Share Split.
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| Standards and amendments effective for the year | Standards and amendments effective for the year No significant new IFRS standards, amendments or interpretations applicable to the Group became effective during the period.
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| New standards and amendments issued but not yet effective | New standards and amendments issued but not yet effective In April 2024, the IASB issued IFRS 18 “Presentation and Disclosure in Financial Statements” that replaces IAS 1 “Presentation of Financial Statements.” IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosed in the notes. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, but earlier adoption is permitted. The Group is currently evaluating the impact of this standard. In May 2024, the IASB issued amendments to IFRS 9 “Financial Instruments” and IFRS 7 “Financial Instruments: Disclosures,” clarifying recognition and derecognition principles and introducing an exception for the early derecognition of certain financial liabilities settled electronically. The amendments also provide guidance on assessing contractual cash flow characteristics and introduce new disclosure requirements. These amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier adoption permitted. The Group is currently evaluating their impact. The Group has not early adopted any issued standards, interpretations or amendments that are not yet effective.
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| Significant accounting judgments, estimates and assumptions | Significant accounting judgments, estimates and assumptions The preparation of the consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amount of revenues, expenses, assets and liabilities, and the accompanying disclosures, as well as the disclosure of contingent liabilities. On an ongoing basis, we evaluate our estimates, including those related to provisions for credit losses, revenue recognition, income taxes, the evaluation for impairment of intangible assets and goodwill, contingent liabilities, securitizations, leases, divestitures and share-based compensation, including the fair value of restricted share units, options and warrants issued. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could materially differ from these estimates. Macroeconomic and geopolitical developments may adversely impact consumer spending, merchant performance and counterparty creditworthiness. These conditions may introduce additional uncertainties that can affect the global economy and, consequently, the Group’s operations. These factors are considered into credit loss estimates and other significant accounting estimates.
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| Foreign currency translation | Foreign currency translation Presentation currency and functional currency The financial statements are presented in USD. In general, each entity within the Group uses the currency of its primary economic environment as its functional currency. For Klarna Group plc, the functional currency is USD. The assets and liabilities of the Company and its subsidiaries are translated from the functional currency of the operations to USD using the exchange rates at the reporting date. The revenues and expenses are translated to USD using average exchange rates, which approximate the exchange rates at the date of the transaction. All resulting foreign exchange differences are recognized in other comprehensive income (loss) and included in foreign exchange translation reserve in equity. Foreign currency transactions Transactions denominated in currencies other than the functional currency of the respective entity are translated into the functional currency at the exchange rate on the date of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured using the exchange rates prevailing at the end of the reporting period. Any foreign exchange gains or losses arising from the remeasurement of these monetary assets and liabilities are recognized in other income (expense) in the consolidated statement of profit or loss.
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| Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash in hand, demand deposits with banks, short-term treasury bills and other short-term highly liquid investments with original maturities of three months or less.
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| Debt securities | Debt securities Debt securities primarily comprise treasury bills chargeable at central banks with original maturities of more than three months, mandatory deposits at central banks, and bonds and other interest-bearing securities. The Group classifies investments as financial assets measured at amortized cost, with interest recognized within interest income in the consolidated statements of profit or loss.
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| Consumer receivables | Consumer receivables Consumer receivables represent unsecured amounts due from consumers that elect to pay over time either through Pay Later or Fair Financing options as well as receivables related to other consumer fees as discussed in our revenue recognition accounting principles. Pay Later consumer receivables arise from transactions that enable consumers to purchase goods or services at the time of the transaction and defer payment to a later date or in short-term installments (e.g., Pay in 30, Pay in 3, Pay in 4). Fair Financing consumer receivables arise from transactions that enable consumers to pay for purchases over a longer- term installment plan, typically ranging from to 48 months. Consumer receivables that Klarna has the objective of holding to collect contractual cash flows are measured at amortized cost, including outstanding principal balances, accrued interest and net of allowances for expected credit losses. Consumer receivables which are managed within a business model whose objective is to originate and sell or within a hold-to-collect-and-sell business model are measured either at fair value through profit or loss (“FVTPL”) or fair value through OCI (“FVOCI”) and presented separately on the consolidated balance sheet.
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| Settlement and trade receivables | Settlement and trade receivables Settlement and trade receivables primarily include receivables from payment solution providers (“PSPs”), amounts due from merchants for services and receivables from third-party debt collection agencies and financial institutions. Settlement and trade receivables are reported at amortized cost net of an allowance for expected credit losses.
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| Allowance for expected credit losses | Allowance for expected credit losses Klarna estimates allowances for expected credit losses (“ECL”) for debt securities, consumer receivables and settlement and trade receivables. The ECL allowance is based on either 12-month expected credit losses (“12m ECL”) or on lifetime expected credit losses (“Lifetime ECL”). The ECL allowance is based on the latter if the simplified approach, as defined by IFRS 9, is applicable or if there has been a significant increase in credit risk since initial recognition. Lifetime ECL and 12m ECL are calculated on a collective basis at an asset class level. The asset class is defined by shared credit risk characteristics, which are generally by market and geography. Debt securities Klarna invests in treasury bills issued by central banks, loans to highly rated financial institutions and bonds issued by highly rated government entities. The credit rating status of issuing entities is monitored throughout the investment holding period. The high credit quality of the issuers results in a low probability of default, loss given default and exposure at default resulting in an immaterial ECL estimate for debt securities. Consumer receivables To measure the ECL for consumer receivables, the Group assigns outstanding loans to one of three stages with the stage corresponding to the individual loan’s estimated repayment performance. The estimated repayment performance is informed by the Group’s records, including the customer’s history with Klarna and purchase behavior from active Klarna consumers, merchant data, credit bureau reports and open banking data. Klarna defines the stages as follows: Stage 1: New loan origination that is not credit impaired at origination. A loan remains in Stage 1 unless there is a significant increase in credit risk (“SICR”), such as when a loan becomes 30 days or more past due or if the consumer has other loans that are in Stage 2 or 3. While a consumer could have a loan that did not experience SICR, if they have a loan in Stage 2 or 3, Klarna applies a more prudent approach to all loans for the consumer as part of its risk management practices. A loan may also be transferred back to Stage 1 if credit risk has significantly improved and it is not delinquent 30 or more days. For Stage 1 loans, the allowance is calculated based on 12-month ECL. Stage 2: Loan with an observed significant increase in credit risk since origination. Klarna defines significant increase in credit risk as a loan with an outstanding balance more than 30 days overdue. The allowance for these loans is calculated based on Lifetime ECL. Stage 2 also includes loans that are reclassified from Stage 3 because they are no longer considered credit impaired. Stage 3: Loan considered credit impaired. A loan is defined as credit impaired if it is 90 days past due or is classified as fraudulent. The allowance for Stage 3 loans is calculated based on Lifetime ECL. A loan may be reclassified from Stage 3 if it is no longer considered credit impaired. Settlement and trade receivables For settlement and trade receivables, Klarna estimates credit losses using the Lifetime ECL model. Each counterparty is subject to a credit risk assessment at onboarding and periodically throughout its relationship with Klarna. Based on the credit risk assessment, a counterparty is assigned a risk classification that correlates to a probability of default. For higher risk counterparties, Klarna extends settlement windows for payments to the counterparties to serve as collateral for their non-performance if a consumer returns products. When a settlement and trade receivable is determined to be uncollectible, the gross amount is written off through the allowance for expected credit losses for settlement and trade receivables in general and administrative on the consolidated statements of profit or loss. Recoveries of trade receivables that were previously written off are recognized when received in general and administrative on the consolidated statements of profit or loss. See Note 7 for information on written-off and recovered settlement and trade receivables. Significant inputs Klarna utilizes a series of models to calculate allowance estimates, which depend on certain significant inputs. Definition of default An asset is considered to be in default when it is 90 days or more past due on any payments, has entered debt collection or is classified as fraudulent. Probability of Default (“PD”) Historical balances as well as the proportion of those balances that have defaulted over time are used as a basis to determine the PD. This approach provides values for 12-month and lifetime PDs applied over different vintages for different countries and for days since origination. In cases where the maturity of the loans is very short (i.e., less than 12 months), which is common for Klarna’s products, the 12-month PD and lifetime PD have equal values. Loss Given Default (“LGD”) LGD is the magnitude of the likely loss if there is a default. The LGD is dependent on geographical region, days past due, and, in some cases, recoveries from the sale of non-performing portfolios. The loss given default is calculated using the historical balances over different vintages as a basis. Furthermore, the LGD component is determined based on days past due. Exposure at Default (“EAD”) EAD represents the estimate of the exposure at a future default date, taking into account expected changes in the exposure as of each reporting date, including repayments of principal and interest, whether scheduled by contract or otherwise. Measurement of ECL Expected credit loss estimates are based on these key inputs: PD, LGD and the EAD, which are derived from internal statistics and other external data. PD and LGD estimates are an accumulation of segmentation, such as product and geography, within each asset class, which are used to calculate the ECL on a collective basis. For unsecured assets, there is no collateral factored into the ECL calculations. For quantitative information on the reported ECL amounts see Note 6 and Note 7. Write-off of financial assets Consumer receivables and settlement and trade receivables are written off when either the entire outstanding amount or a proportion thereof are considered uncollectible, which is generally when an outstanding balance is 180 days past due. For consumer receivables and settlement and trade receivables, Klarna monitors significant counterparty relationships for current information and events to assess if there is a risk the counterparty is experiencing financial difficulty or is in breach of contract. If a loan or receivable is determined to be uncollectible, the gross amount will be charged off through the allowance for expected credit losses. Charged-off balances may still be subject to enforcement activities to attempt to recover the amounts due. When enforcement activities are exhausted or the loan or receivable is sold to an external party, the loan or receivable is formally written off in Klarna’s systems. For information on the written-off consumer receivables and settlement and trade receivables, including those subject to enforcement activities, see Note 6 and Note 7, respectively. Sale of uncollectible consumer receivables Klarna enters into agreements to sell certain uncollectible receivables to debt collection agencies to maximize recovery and manage credit risk. These uncollectible receivables are sold on a non-recourse basis, with the Group transferring substantially all risks and rewards of ownership to the debt collection agencies meeting the derecognition criteria on the date of sale. When a receivable is deemed to be uncollectible it is written down to the recoverable amount. Recoveries Recoveries for consumer receivables that were previously written off are recognized when received in provisions for credit losses on the consolidated statements of profit or loss. Recoveries of consumer receivables that were previously written off were not material in 2025, 2024 and 2023.
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| Commitments | Commitments Klarna enters into certain arrangements that create commitments to purchase certain consumer loans originated by partner banks in the United States (“Loan funding commitments”). Upon purchase of these consumer loans, Klarna recognizes them on the consolidated balance sheet. Klarna may also provide consumers with committed credit limits or other committed financing arrangements. Amounts drawn under these commitments are recognized on the consolidated balance sheet. Amounts committed under these arrangements that are not yet recognized are disclosed in Note 19.
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| Structured entities | Structured entities A structured entity is an entity in which voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights may relate to administrative tasks only, with the relevant activities of the entity being directed by means of contractual arrangements. Structured entities are generally created to achieve a narrow and well-defined objective with restrictions around their ongoing activities. Klarna consolidates such structured entities when we determine that we control the structured entity in accordance with IFRS 10. In the case of structured entities, this determination involves judgment, particularly as voting rights are often not the determining factor in decisions over the relevant activities. This judgment involves assessing the purpose and design of the entity, and whether we have power over the relevant activities and exposure, or rights, to variable returns, and the ability to use its power over the investee to affect the amount of the returns. In determining this, we also assess whether we are acting as a principal or as an agent on behalf of others. Warehouse financing facility and synthetic securitizations Klarna enters into transactions with securitization vehicles (“SPVs”), where it economically transfers a portion of credit risk for certain pools of consumer receivables (the “Referenced Pools”) with the primary objective to lower the regulatory capital risk weights of the underlying assets. In certain transactions, Klarna enters into synthetic securitizations with unconsolidated SPVs. in which credit risk for each Referenced Pool is separated into three tranches: junior, mezzanine and senior. In these structures, Klarna retains the junior and senior tranches and transfers the credit risk associated with the mezzanine tranche to an unconsolidated SPV, which issues credit-linked notes (“CLNs”) to investors. Klarna pays a fee to the SPVs for the transfer of credit risk, which is recognized as incurred in funding costs, see Note 17. This fee provides for a guarantee from the SPV to reimburse the Company for any credit losses incurred within transfers of the credit risk associated with the mezzanine tranche. In other transactions, Klarna enters into arrangements with consolidated SPVs, typically through warehouse financing facilities with an institutional lender, as the funder, and Klarna Bank AB, a subsidiary of Klarna Group plc, as the borrower. In these structures, the SPV issues CLNs to the funder and advances the proceeds to Klarna, which in turn pledges Referenced Pools as collateral. Credit risk for the Reference Pool is separated into two tranches: a junior tranche retained by Klarna and a senior tranche transferred to the funder through the consolidated SPV. The CLNs are recognized within Notes Payables and Other Borrowings and are classified and measured at amortized cost using the effective interest method. Interest and senior expenses related to the facility are recognized within funding costs, see Note 17. In both structures, Klarna retains the contractual rights to the cash flows and substantially all of the associated risks and rewards of ownership of the receivables within the Reference Pool. Accordingly, the receivables are not derecognized and continue to be recognized in the statement of financial position. Should the Company experience credit losses exceeding the retained tranche and fall within the transferred tranche, it would be entitled to recoveries consistent with that contractual reimbursement right. The Company’s estimated credit losses for the Reference Pools was below the contractual range of the transferred tranches for the periods presented. Accordingly, no claims have been made against the SPVs in respect of the reporting periods. Forward flow securitization Klarna enters into forward flow loan sale arrangements with unconsolidated SPVs whereby specified pools of consumer receivables (“Eligible Receivables”) are transferred to the SPVs. Klarna classifies the Eligible Receivables into either fair value through OCI (“FVOCI”), or fair value through profit or loss (“FVTPL”) on the basis of both (a) Klarna’s business model for managing the assets, and (b) the contractual cash flow characteristics of the financial assets. Eligible Receivables classified and measured at FVOCI are subsequently remeasured at fair value and changes therein are recognized in other comprehensive income, except for interest income, impairment, and foreign exchange, until the assets are sold. Interest income is recognized using the effective interest method, in the same manner as for financial assets measured at amortized cost, until derecognition requirements are met. Eligible Receivables classified and measured at FVTPL are subsequently remeasured at fair value and changes therein are recognized in the statements of profit or loss. Expected credit losses (“ECL”) on Eligible Receivables measured at FVOCI do not reduce the carrying amount of the financial assets, which remain at fair value. Instead, the ECLis recognized in other comprehensive income as an accumulated impairment amount, with a corresponding charge to profit or loss. Klarna derecognizes receivables upon transferring the contractual rights to the cash flows and substantially all associated risks and rewards. The transfers are deemed to occur on the sale date, at which point, the derecognition criteria are satisfied. Upon disposal of Eligible Receivables measured at FVOCI, the cumulative gains or losses previously recognized in other comprehensive income, including the accumulated impairment amount are reclassified from other comprehensive income to the statements of profit or loss. Upon disposal of Eligible Receivables measured at FVTPL, gains and losses are recognized in the statements of profit or loss. Gains and losses from disposals of Fair Financing receivables are recognized within revenue as Gain on sale of consumer receivables, and losses from disposals of Pay Later receivables are recognized within Funding costs, reflecting the nature and underlying characteristics of the sold eligible receivables. See Note 4 and Note 17. Klarna may continue to service certain sold receivables on behalf of the SPVs in exchange for receiving a servicing income from providing professional services such as cash flow collection and credit risk management in the event of customer defaults. We recognize this servicing fee within Transaction and service revenue. The servicing fee is typically calculated daily by applying a fixed percentage to the outstanding loan principal balance. The servicing fee represents a fair market fee, and no servicing asset or liability is recognized in the financial statements. See Note 4.
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| Fair value measurement | Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or, in its absence, the most advantageous market to which Klarna has access at that date. When available, Klarna measures fair value using the quoted price in an active market. If a quoted price in an active market is not available, the Group uses valuation methods that maximize the use of relevant observable inputs and minimize the use of unobservable inputs to determine fair value. The fair value of a financial instrument on initial recognition is generally best evidenced by its transaction price (i.e., the fair value of consideration paid or received). If Klarna determines that the transaction price differs from the fair value and the fair value is not evidenced by a quoted price in an active market for an identical asset or liability nor based on a valuation method where unobservable inputs are considered to be insignificant in relation to the difference, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price. Subsequently, that difference is recognized in profit or loss on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is settled. All assets and liabilities for which fair value is measured or disclosed in these consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole. Level 1 Level 1 in the fair value hierarchy consists of assets and liabilities where the inputs used in the valuation are unadjusted quoted prices from active markets for identical assets or liabilities. Level 2 Level 2 consists of assets and liabilities where the significant inputs used for valuation are derived from directly or indirectly observable market data available over the entire period of the instrument’s life. Such inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical instruments in inactive markets and observable inputs other than quoted prices such as interest rates and yield curves, implied volatilities and credit spreads. Level 3 Level 3 includes estimated values based on assumptions and assessments where one or more significant inputs are not based on observable market information. Klarna recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.
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| Repurchase agreements | Repurchase agreements Repurchase agreements are used to obtain liquidity and fluctuate over time based on many factors, including market conditions, consumer receivables and consumer deposit growth and balance sheet management activities. Treasury bills and other interest-bearing securities that are sold under agreements to repurchase at a specified future date are not derecognized from the balance sheet as Klarna retains substantially all of the risks and rewards of ownership. Assets under repurchase agreements are transferred to the counterparty, and the counterparty has the right to sell or re-pledge the assets. Such securities are kept on the balance sheet and pledged as collateral when the securities have been transferred and cash consideration has been received. Payment received is recognized under notes payable and other borrowings. The difference between the sale and repurchase price is accrued over the life of the agreement using the effective interest method and recognized within funding costs in the consolidated statements of profit or loss.
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| Derivative instruments and hedge accounting | Derivative instruments and hedge accounting Derivative instruments are recognized in the balance sheet on their trade date and are measured at fair value, both initially and in subsequent periods. Derivative instruments are presented in other assets or notes payable and other borrowings. Changes in the fair value of derivative instruments are included in funding costs in the consolidated statements of profit or loss. The Group uses hedge accounting for fair value hedges to manage the interest rate risk of liabilities. Changes in the fair value of derivatives that are designated and qualify as fair value hedging instruments are included in funding costs, together with any changes in the fair value of the hedged liability that are attributable to the hedged risk. Any residual mismatch between the hedging instrument and the hedged item is recognized as ineffective. When hedging interest rate risk, any interest accrued or paid on both the hedging instrument and the hedged item is included in funding costs. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the consolidated statements of profit or loss over the period for which the item was hedged. If the hedged item is sold or repaid, the unamortized fair value adjustment is recognized immediately in funding costs.
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| Consumer deposits | Consumer deposits Consumer deposits are initially recorded at fair value and then at amortized cost and with application of the effective interest method. Where a consumer deposit is in a qualifying fair value hedge relationship, its carrying value is adjusted for changes in fair value attributable to the hedged risk. All consumer deposits are interest-bearing. Klarna offers certain consumer deposit arrangements under which funds are held on behalf of consumers by third-party financial institutions. Under these arrangements, consumer deposit balances that are not controlled by Klarna are not recognized in the consolidated balance sheet.
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| Payables to merchants | Payables to merchants Payables to merchants arise when Klarna facilitates payment transactions for merchants and holds the corresponding funds on their behalf. The settlement cycle is dependent on the counterparty, but is usually within a few working days of the transaction. As a result, Klarna records a liability towards the merchant, representing the money owed to them. Payables to merchants are recognized at amortized cost. On settlement, the Group derecognizes these amounts from the balance sheet.
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| Leasing | Leasing The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The length of a lease term includes options to extend or terminate the lease when it is reasonably certain that the Group will exercise those options. The Group applies judgment in evaluating whether it is reasonably certain to exercise extension or termination options. For most leases, the Group has determined that the lease term does not include additional periods after the initial period. A right-of-use asset and a lease liability are recognized at the lease commencement date. The right-of- use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for initial direct costs, incentive payments, restoration costs and lease payments before the commencement date. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term. The lease liability is initially measured at the present value of the remaining lease payments that are not paid at the commencement date. As most leases do not provide an implicit interest rate, the Group uses the incremental borrowing rate at the lease commencement date in determining the present value of lease payments. The lease liability is remeasured when there is a change in future lease payments arising, for example, from a change in an index or rate, a reassessment of extension, termination or purchase options, or a change in the amount expected to be payable under a residual value guarantee. If a remeasurement of the lease liability occurs, a corresponding adjustment to the carrying amount of the right-of-use asset is made. Lease payments included in the measurement of the lease liability are fixed payments, variable lease payments that depend on an index or rate, amounts expected to be payable under a residual value guarantee and the exercise price under a purchase option, if applicable. The Group excludes payments for related services and other components of a lease. The Group presents right-of-use assets in property and equipment and lease liabilities in other liabilities in the balance sheet. The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases and leases of low-value assets, primarily relating to IT equipment and short-term office rentals. Payments for such leases are recognized as an expense on a straight-line basis over the lease term.
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| Business combinations | Business combinations Business combinations are accounted for using the acquisition method. Identifiable assets acquired and liabilities assumed are measured initially at their fair values at the acquisition date. The excess of the consideration transferred and the acquisition-date fair value of any previous equity interest in the acquiree, over the fair value of the identifiable net assets acquired is recognized as goodwill. Acquisition- related costs, other than those incurred for the issuance of debt or equity instruments, are charged to the consolidated statement of profit or loss as they are incurred.
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| Divestitures | Divestitures Non-current assets or disposal groups are classified as held for sale when their carrying amount is expected to be recovered principally through a sale transaction rather than through continuing use. The classification is made when the asset or disposal group is available for immediate sale in its present condition, and the sale is highly probable within one year. Upon such classification, the assets or disposal group are measured at the lower of their carrying amount and fair value less costs to sell. The gain or loss on divestment is determined as the difference between the consideration received, net of transaction costs, and the carrying value of the net assets disposed of. The gain or loss is recognized within other income (expense) in the statements of profit or loss. Where goodwill has been allocated to the disposed operation, typically measured based on the relative values of the disposed operation, such goodwill is included in the carrying amount of the operation when determining the gain or loss on disposal. An operation is classified as discontinued when it represents a separate major line of business or geographical area of operations that either has been disposed of or is classified as held for sale. For foreign operations, cumulative foreign currency translation differences previously recognized in other comprehensive income are reclassified to the statements of profit or loss upon divestment. This reclassification is included as part of the gain or loss on disposal.
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| Goodwill and intangible assets | Goodwill and intangible assets Goodwill Goodwill represents the excess of consideration paid over the fair value of the identifiable net assets acquired in a business combination. Goodwill is not amortized but is reviewed for impairment annually and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. Impairment of goodwill is not reversed. The Group monitors goodwill for impairment considerations at the operating segment level. In the event of a disposal that qualifies as a business, or where there is a significant reorganization of the business, goodwill is allocated based upon relative fair values. Trademarks, tradenames, licenses and other customer-related intangible assets Identifiable intangible assets following business combinations include trademarks, tradenames, licenses, developed technology and customer relationships. Acquired intangible assets are recorded at fair value on the date of acquisition and amortized over their estimated useful lives, generally 3-20 years. The Group reviews the carrying amounts of intangible assets for impairment at the asset group level whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Capitalized development costs Costs associated with IT systems, software and licenses, whether developed internally or acquired, are recognized as intangible assets when the following criteria are met: •It is technically feasible to complete the intangible asset so that the asset will be available for use or sale; •Adequate resources are available to complete the development; •There is an intention to complete and use the intangible asset for the provision of services; •Use of the intangible asset will generate probable future economic benefits; and •Expenditures attributable to the intangible asset can be measured reliably. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable capitalized development costs and licenses (generally, 3-5 years) and reported within depreciation, amortization and impairments and in technology and product development in the consolidated statements of profit or loss depending on the nature of the assets. Costs related to development activities that do not satisfy the above criteria, including for maintenance, are expensed as incurred. Impairment Goodwill is tested for impairment annually. This is tested by estimating the recoverable amount, which is the higher of the fair value less costs of disposal and the value in use. If the recoverable amount is lower than the carrying amount, the asset is written down. See Note 11 for further information on the measurement of goodwill and significant assumptions used in the annual impairment test. Intangible assets with finite useful lives undergo impairment testing whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
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| Property and equipment | Property and equipment Property and equipment is stated at historical cost less accumulated depreciation and impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable assets, generally, by applying the following useful lives to each class of property and equipment:
If there is an indication that the recoverable value is less than the carrying amount, an impairment review is completed and any impairment loss is recognized within depreciation, amortization and impairments in the consolidated statements of profit or loss. The cost and accumulated depreciation for property and equipment that is sold, retired or otherwise disposed of are derecognized and the resulting gains or losses are recorded in the consolidated statements of profit or loss.
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| Treasury shares | Treasury shares Shares in the Company that are held by wholly owned subsidiaries or other Group entities are classified as treasury shares. Amounts paid to repurchase the Company’s own shares, including any directly attributable incremental costs (net of related income tax effects), are recognized as a deduction from equity. The repurchased shares are presented as treasury shares and remain deducted from equity until they are either cancelled or reissued. These shares are deducted from the issued and weighted average number of shares in calculating earnings per share. Dividends received on treasury shares are eliminated on consolidation, and no gain or loss is recognized in profit or loss or other comprehensive income on the purchase, sale, reissue, or cancellation of such shares.
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| Revenue Recognition | Revenue Recognition Transaction and service revenue Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The product offerings from which revenues are recognized do not differ in any significant way between geographical markets. Transaction revenue Transaction revenue includes merchant revenue and advertising revenue. Merchant revenue refers to fees paid by our merchants, generated when consumers transact on our network. It includes merchant fees, interchange revenue and fees for settling disputes. Merchant revenue is derived from the volume of transactions we process multiplied by the fees we charge, which vary among our geographies. Our pricing is a combination of value-based and fixed pricing, charged either ad valorem (proportional to the estimated value of goods and services purchased on our network) or fixed fees on each transaction, or a mix of both. Where consumers return merchandise or goods and merchants process a refund, merchant fees charged for the original transaction are not returned to the merchant. Our contracts with merchants consist of a master agreement including terms, conditions and pricing. We are not obligated to perform under the contract until a transaction occurs and thus each transaction represents a separate performance obligation to the merchant as our customer. Our service offering comprises a single performance obligation to merchants to facilitate transactions with consumers. The transaction price is recognized at the point in time when the merchant successfully confirms the transaction, which is when the terms of the contract are fulfilled. We provide a reduction of merchant fees to certain merchants based on performance measures, including volume of processed transactions. The nature of our contracts may give rise to variable consideration, which may be constrained. We estimate the expected transaction volumes at the beginning of the period and include the estimated rebates in the transaction price as a reduction of merchant revenue. We also enter into contracts with certain merchants to expand our user base and market presence and for brand promotion through co-marketing activities, as detailed in section Promotional and marketing arrangements below. Advertising revenue is earned from merchants who place advertisements on our network, including sponsored search, affiliate programs and brand ads. We enter into contracts for advertising either directly with merchants or through other third parties. The transaction price is determined based on the advertising model, with fees that may be fixed or variable, typically based on the number of impressions delivered or actions taken by users, such as clicks or purchases. Revenue from impression-based ads is recognized in the period when an ad is displayed to users. For action-based ads, revenue is generally recognized at a point in time, when a specified action, such as a click or purchase, occurs. Our contracts for advertising services are separate from other merchant contracts and include a single performance obligation. For advertising revenue generated through other third parties, we recognize revenue on a gross basis if we are the principal and on a net basis if we are the agent. This assessment is based on whether we control the service before it is delivered to the customer. Consumer service revenue Consumer service revenue refers to revenue we earn from consumer fees, primarily consisting of certain administrative fees, including reminder fees and fees for issuing one-time cards. Consumers may be charged a fee, being a fixed amount that constitutes the transaction price and recognized at the point in time that the consumer is charged. This fee income is earned in relation to the Company’s ordinary activities. Consumer service revenue also includes subscription revenue. Subscription revenue represents monthly subscription fees related to a single performance obligation for a bundle of services and are recognized over the subscription period as those services are provided. Distribution partner referral arrangements We enter into contracts with third-party partners to distribute our payment solutions to our merchants. For these contracts, we evaluate who our customer is and if we are acting as the principal or agent in the specific arrangement. Generally, our customer is considered to be the merchant and we are considered to be the principal in these arrangements, while third-party partners are determined to be an agent in the transaction. We recognize incremental costs of obtaining a contract in accordance with IFRS 15 “Revenue from Contract with Customers” for the commission paid to these third-party partners. These expenses are classified within sales and marketing expenses in the consolidated statements of profit or loss. During 2025, 2024 and 2023, the Company recognized $109 million, $81 million and $59 million, respectively, related to these commissions within sales and marketing expenses. Promotional and marketing arrangements We enter into contracts with certain merchants and other partners to expand our user base and market presence, and for brand promotion through co-marketing activities, in which Klarna provides cash, share warrants, or both as consideration. We evaluate if the consideration payable is in exchange for a distinct good or service. Where the payment is for a distinct good or service, it is recognized as sales and marketing expenses. If a payment is not for a distinct good or service, it is recognized as a reduction of the transaction price. We recognize the expense of such services as incurred. When the consideration represents a payment against which economic benefits are expected to be realized over a future period, we recognize a commercial agreement asset. These assets are amortized over the period of the contract for when the services are expected to be provided, which is typically between 3-5 years. We also offer promotions to consumers, including cashback, with the purpose of acquiring new consumers, promoting the Klarna brand, the use of the Klarna app and payment options. These promotions typically represent a reduction on the total amount collected from consumers. Where we assess there is no explicit or implicit expectation for promotions to be provided, we recognize within sales and marketing expenses. Where we assess there is an expectation, the cost of the promotion is recognized as a reduction in the revenue earned from the transaction, with any excess of the cost of the promotion above the revenue recognized within sales and marketing expenses. Interest income Interest income includes interest earned when consumers choose to spread the cost of transactions over time through one of our interest-bearing financing products or to delay the cost of transactions with our payment flexibility features, such as “snooze.” We also recognize interest income related to incremental fees earned from certain merchants for providing interest-free promotional loans to their consumers. Interest income on financial assets measured at amortized cost, as well as “snooze” fees charged, is recognized in profit or loss using the effective interest method. Interest income also includes interest from debt securities. See Note 8. From time to time, we may enter into contracts with merchants under which we pay a fee for their role as intermediary in arranging a consumer financing facility. We recognize such fees as a reduction of interest income. During 2025, 2024 and 2023, the Group recognized $12 million, $10 million and $13 million as a reduction of interest income, respectively.
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| Operating expenses | Operating expenses Processing and servicing costs Processing and servicing costs primarily consist of the following and include cost of fulfilling a contract: authentication costs to verify user identities, scoring costs related to purchasing credit and fraud data from various bureaus, distribution costs related to direct communication with consumers, commissions paid to third parties for debt collection and payment fees to credit card companies and financial institutions. Processing and servicing costs are expensed as incurred. Provision for credit losses Impairment losses from consumer receivables are reported as Provision for credit losses. Provision for credit losses for the period consist of realized credit losses, provisions for credit losses for granted credit, less reversal of provisions for credit losses made previously. Realized credit losses are losses whose amount is, for example, determined via bankruptcy, a composition arrangement, a statement by an enforcement authority or the sale of receivables. Funding costs Funding costs include interest that we pay on our consumer deposits, calculated using the effective interest method, and securitization costs, including fair value adjustments on Pay Later receivables held at fair value through profit and loss related to forward flow agreements, and premiums paid in connection with our synthetic securitization transactions. Technology and product development Technology and product development expenses primarily consist of personnel-related costs for technology functions as well as other expenses, including hosting, software licenses, external service providers, hardware costs and amortization of internally developed and acquired technology assets. Sales and marketing Sales and marketing expenses primarily consist of personnel costs, general marketing and promotional activities costs, referral commissions, costs related to sponsorships and partnerships, and costs related to consumer promotional programs. Customer service and operations Customer service and operations expenses primarily consist of personnel costs for customer support functions and outsourced assistance to help with purchases, account management, returns and merchant disputes. General and administrative General and administrative expenses consist of personnel costs for directors and executives, legal and human resources, and finance functions, lease expenses related to short-term leases, low-value assets, and variable lease expenses, professional services costs and merchant and other losses.
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| Income taxes | Income taxes Income taxes consist of current tax and deferred tax. Income taxes are reported directly in the consolidated statement of profit or loss except when the underlying transaction is reported directly against equity or other comprehensive income, in which case the accompanying tax also is reported in equity or other comprehensive income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is reported according to the balance sheet method for all taxable temporary differences between an asset’s or a liability’s tax base and its carrying amount in the balance sheet. Deferred tax assets are reported for deductible temporary differences to the extent it is probable that the taxable profit will be available against which the deductible temporary difference can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. The Group assesses on an ongoing basis as well as at the end of the year the possibility of recognizing deferred tax assets related to tax losses carried-forward. Deferred tax assets attributable to tax losses carried forward are reported only if it is probable that they will be used towards taxable profits in the foreseeable future. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the probability of taxable profits being available in the future and the quantum of taxable profits that are forecasted to arise. These judgments include management’s expectations of the growth of profit before tax in different jurisdictions, forecasted revenues and expenses and the timing of the reversal of taxable temporary differences. Uncertain tax positions are measured on an ongoing basis, and the method is determined by taking all known facts and circumstances into account.
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| Share-based payments | Share-based payments Klarna offers equity-based programs to employees and certain third-party contributors, including merchants, partners and service providers. Employee Restricted Share Unit Program and Individual Contributor Share Warrants and Share Options The Group grants share-based awards in the form of restricted share units (“RSUs”), share warrants and options, to certain individual contributors, including employees, executive officers and directors. Restricted share units granted to employees generally vest on a graded vesting schedule over a four years period. The share warrants and options are subject to graded vesting over a term of typically to five years. These arrangements are equity-settled and are accounted for as equity-settled share-based payments. For share-based awards granted to certain individual contributors, including employees as well as executive officers and directors, the services rendered are measured with reference to the grant-date fair value of the equity instruments using a Black-Scholes model. The cost of the share-based payments granted to employees is recognized over the vesting period, which represents the period the service conditions are fulfilled. The Group also grants ordinary shares through direct share issuances to employees, executive officers and directors. The shares are accounted for as equity-settled share-based payments. Typically there are no vesting conditions or restrictions placed on the awards and, accordingly, the related share-based compensation expense, based on the grant-date fair value of the awards, is recognized immediately. The share-based payment expenses related to awards granted to individual contributors, including employees, executive officers and directors are recognized under technology and product development, sales and marketing, customer service and operations or general and administrative expenses depending on the function of the related employee or individual contributor in the consolidated statements of profit or loss. The employment vesting condition is a non-market based condition and a forfeiture estimate is factored into the assumption of how many equity instruments are expected to vest. Any related social security charges relating to share-based payments are recognized as an expense during the corresponding period based on the fair value that serves as the basis for a payment of social security charges. The expense is recognized under the function of the related employee or individual contributor in the consolidated statements of profit or loss. In many jurisdictions, tax authorities levy taxes on share-based compensation transactions with employees that give rise to a personal tax liability for the employee. In some cases, Klarna is required to withhold the tax due and to settle it with the tax authority on behalf of the employees. To fulfill this obligation, the terms of Klarna’s restricted share unit arrangements permit the Group to withhold the number of shares that are equal to the monetary value of the employee’s tax. Partner Share Warrants Klarna has granted share warrants to certain partners, including merchants and other service providers, in return for services. Share-based payments to partners are generally measured at the fair value of the goods or services received and measured at the time when such goods and services are received. If the fair value of goods and services cannot be reliably measured, the fair value of the equity instruments is used. We recognize commercial agreement assets where the consideration paid represents a future economic benefit, and these assets are amortized over the relevant performance period within the commercial agreement and recognized within sales and marketing expenses where the payment is in exchange for a distinct service or as a reduction to transaction prices if in exchange for no distinct service. Further information relating to share-based payment transactions is presented in Note 22
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| Provisions | Provisions The Group recognizes provisions for present obligations arising from past events when payment of the obligations is probable and can be reliably estimated. Refer to Note 15 for information regarding the Group’s provisions. Klarna operates in a regulatory and legal environment that involves an element of litigation risk inherent to its operations, and from time to time Klarna may be party to litigation, arbitration and regulatory investigations and proceedings arising during the ordinary course of business. When Klarna can reliably measure the outflow of economic benefits in relation to a specific case and considers such outflow to be probable, a provision is recorded. Given the subjectivity and uncertainty of determining the probability and amount, a number of factors are assessed, including legal advice, the stage of the matter and historical evidence from similar incidents. Judgment is required in concluding such assessments.
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| Employee Benefits | Employee Benefits Employee benefits include all forms of consideration provided by the Group in exchange for services rendered by employees, including post-employment pension plans. The Group’s pension plans are defined contribution plans, which means that contributions are made to an independent legal entity according to a fixed pension plan. These contributions are recognized as personnel costs in the period they apply to. After the contributions are made, the Group has no legal or other obligations. Employee benefits expenses are composed of:
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Accounting principles (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||
| Disclosure Of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
| Schedule of useful lives or depreciation rates, property, plant and equipment | Property and equipment is stated at historical cost less accumulated depreciation and impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable assets, generally, by applying the following useful lives to each class of property and equipment:
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| Schedule of employee benefits |
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Risk management and management of capital (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Management and Management of Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of nature and extent of risks arising from financial instruments | The table below shows the net average currency exposure and the effects of a 10% change in foreign exchange rates on the exposure of the group as of the end of the period.
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| Disclosure of maturity analysis for non-derivative financial liabilities | The tables below show the undiscounted funding obligations including interest by contractual maturity:
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Operating segments (Tables) |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of operating segments [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of geographical areas |
other assets that are expected to be recovered more than twelve months after the reporting period:
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| Disclosure of disaggregation of revenue | The following table presents Klarna’s revenue disaggregated by category:
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| Disclosure of disaggregation of interest income | The following table presents Klarna’s interest income by category:
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Cash and cash equivalents (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Cash and cash equivalents [abstract] | |||||||||||||||||||||||||||||||
| Disclosure of detailed information of cash and cash equivalents | The Group’s cash and cash equivalents consisted of:
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Consumer receivables (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of financial assets [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of reconciliation of consumer receivables | The below table summarizes consumer receivables for the years ended December 31, 2025 and 2024:
tables reconcile the Group’s classification of Fair Financing and Pay Later consumer receivables by stage for the opening and closing balances:
____________ 1 Assets repaid includes the sale of an existing portfolio of Fair Financing receivables within the period 2 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
The activity in the Group’s allowance for credit losses recognized for Fair Financing and Pay Later consumer receivables, based on the above stage classifications, is detailed in the below table:
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
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Settlement and trade receivables (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade and other receivables [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of reconciliation of trade receivables | The below table summarizes consumer receivables for the years ended December 31, 2025 and 2024:
tables reconcile the Group’s classification of Fair Financing and Pay Later consumer receivables by stage for the opening and closing balances:
____________ 1 Assets repaid includes the sale of an existing portfolio of Fair Financing receivables within the period 2 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
The activity in the Group’s allowance for credit losses recognized for Fair Financing and Pay Later consumer receivables, based on the above stage classifications, is detailed in the below table:
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
____________ 1 Other adjustments are primarily driven by fluctuations in the USD foreign exchange rate.
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Debt securities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Debt Securities1 [Abstract] | |||||||||||||||||||||||||||||||
| Summary of debt securities in issue | Debt securities are composed of:
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Leases (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Presentation of leases for lessee [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of quantitative information about right-of-use assets | The following table presents lease expenses and expenses for short-term and low-value leases recognized in 2025, 2024 and 2023:
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Divestitures (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||
| Divestitures [Abstract] | |||||||||||||||||||||||||||||||
| Disclosure of analysis of single amount of disposed operation |
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Goodwill and Intangible assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets and goodwill [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of intangible assets and goodwill | As of December 31, 2025 and 2024, goodwill and intangible assets consisted of the following:
|
Property and equipment (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of detailed information about property, plant and equipment [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of reconciliation of changes in property, plant and equipment, including right-of-use assets | calculated using the straight-line method by applying various useful lives to each class of property and equipment. At December 31, 2025 and 2024, property and equipment consisted of the following:
|
Other assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Miscellaneous assets [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of other assets | Other assets consisted of the following:
|
Notes payable and other borrowings (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| Notes Payable And Other Borrowings [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of notes payable and other borrowings | notes payable and other borrowings consisted of the following:
____________ 1 The warehouse financing facility refers to issued credit-linked notes (“CLNs”), see Note 16.
|
Other liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Miscellaneous liabilities [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of other liabilities | The Group’s other liabilities as of December 31, 2025 and 2024 consisted of:
____________ 1 Refer to Note 16 for further details on payable to SPV.
|
Structured entities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Structured Entities [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Disclosure of interests in unconsolidated structured entities | The following table shows the carrying amount of Klarna’s recorded interest in its consolidated balance sheet as at December 31, 2025 and 2024, and represented the maximum exposure to risk associated with its interest in the unconsolidated structured entities. The maximum exposure reflects the total potential loss the Group could incur from its involvement, regardless of the likelihood of that loss being incurred.
____________ 1 The pledged assets are included within bonds and other interest-bearing securities, see Note 19. 2 The Company’s payable to SPV are included within other liabilities, see Note 15.
|
Funding costs (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Expenses by nature [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of components of interest expense | The Group’s funding costs for the years ended December 31, 2025, 2024 and 2023 were as follows:
|
Derivatives (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of detailed information about fair value and notional amounts of derivative instruments | The Group’s derivatives are composed of:
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| Disclosure of detailed information about hedged items |
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| Disclosure of maturity of the nominal amount of hedges instruments |
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Pledged assets, guarantees and commitments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Disclosure of assets pledged, Guarantees And Commitments [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Disclosure of detailed information about pledged assets | The following table provides details of the Group’s pledged assets.
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| Disclosure of detailed information about commitments and guarantees |
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Fair value measurement of financial assets and liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of fair value measurement of liabilities | The following table shows the Group’s financial assets and liabilities measured at fair value on a recurring basis and identifies which of the three valuation levels the assets and liabilities have been classified into as of December 31, 2025 and 2024. For description of the fair value levels, see Note 2. No transfers between levels have been made during 2025 or 2024.
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| Disclosure of fair value measurement of assets | The following table shows the Group’s financial assets and liabilities measured at fair value on a recurring basis and identifies which of the three valuation levels the assets and liabilities have been classified into as of December 31, 2025 and 2024. For description of the fair value levels, see Note 2. No transfers between levels have been made during 2025 or 2024.
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| Disclosure of analysis of movements in level 3 assets and liabilities | The following tables show a reconciliation of the opening and closing balances of Level 3 financial assets and liabilities which are recorded at fair value.
____________ 1 Fair value gains and losses recognized in the statement of profit or loss are included in other income (loss).
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| Disclosure of financial assets and liabilities, at amortized cost | The following tables show the fair value of financial instruments carried at amortized cost. They do not include financial assets and financial liabilities not measured at fair value where the carrying amount approximates fair value, which includes cash and cash equivalents, loans to credit institutions (included in debt securities), consumer receivables, settlement and trade receivables, payables to merchants, repurchase agreement liabilities (included in notes payable and other borrowings) and other liabilities.
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| Disclosure of gains or losses on financial instruments | The table below represents net results from categories of the following financial instruments for the years ending December 31, 2025 and 2024.
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Issued capital and reserves (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of classes of share capital [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of classes of share capital | As at December 31, 2025, our issued and outstanding share capital consists of 377,507,910 ordinary shares and 328,136,589 Class B shares as per below table:
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Share-based payments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Explanation of effect of share-based payments on entity's profit or loss | The following table presents share-based payment costs, inclusive of social security charges, recognized in 2025, 2024 and 2023 in the consolidated statements of profit or loss:
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| Disclosure of number and weighted average exercise prices of other equity instruments | The table below includes additional details regarding RSUs, share warrants and options, issued by Klarna Group plc as of, and for the year ended, December 31, 2025. The increase in instruments outstanding during 2025 reflects the establishment of the Company's post-IPO equity incentive framework, including the Omnibus Incentive Plan, the Klarna Group plc RSU Program, and the C Share Awards Plan, each as described in Item 6. The Class C share options column relates exclusively to awards granted to Mr. Siemiatkowski:
____________ 1 Where share options were granted in SEK, the input has been converted to USD using the average exchange rate for the period for presentation purposes. 2 two Class C share options entitle the recipient to acquire, at the recipient's election, either one ordinary share or two Class C shares on exercise. Weighted average exercise prices for Class C share options are expressed per Class C share; the equivalent exercise price expressed per ordinary share is double the figures shown. All Class C share options outstanding as of December 31, 2025 were granted exclusively to Mr. Siemiatkowski under the C Share Awards Plan described in Item 6. 3 In 2025, the terms of 1,477,164 share options originally granted to Mr. Siemiatkowski in the fourth quarter of 2024 were amended to allow such options to be exercised into 2,941,236 Class C shares (or 1,470,618 ordinary shares), reflecting the conversion ratio under which two Class C share options correspond to one ordinary share. The amendment did not reduce the exercise price of the underlying award; the weighted average exercise price of $19.1 per Class C share shown above is equivalent to $38.2 per ordinary share, consistent with the original grant terms. The modification did not result in an incremental share-based payment charge. The table below includes additional details regarding RSUs and share warrants, issued by a subsidiary of Klarna Group plc, as of, and for the year ended, December 31, 2025:
____________ 1 Legacy RSUs granted in SEK have been converted to USD using the average exchange rate for each period for presentation purposes. 2 Where share warrants were granted in SEK, the input has been converted to USD using the average exchange rate for the period for presentation purposes.
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| Disclosure of number and weighted average exercise prices of share options | The table below includes additional details regarding RSUs, share warrants and options, issued by Klarna Group plc as of, and for the year ended, December 31, 2025. The increase in instruments outstanding during 2025 reflects the establishment of the Company's post-IPO equity incentive framework, including the Omnibus Incentive Plan, the Klarna Group plc RSU Program, and the C Share Awards Plan, each as described in Item 6. The Class C share options column relates exclusively to awards granted to Mr. Siemiatkowski:
____________ 1 Where share options were granted in SEK, the input has been converted to USD using the average exchange rate for the period for presentation purposes. 2 two Class C share options entitle the recipient to acquire, at the recipient's election, either one ordinary share or two Class C shares on exercise. Weighted average exercise prices for Class C share options are expressed per Class C share; the equivalent exercise price expressed per ordinary share is double the figures shown. All Class C share options outstanding as of December 31, 2025 were granted exclusively to Mr. Siemiatkowski under the C Share Awards Plan described in Item 6. 3 In 2025, the terms of 1,477,164 share options originally granted to Mr. Siemiatkowski in the fourth quarter of 2024 were amended to allow such options to be exercised into 2,941,236 Class C shares (or 1,470,618 ordinary shares), reflecting the conversion ratio under which two Class C share options correspond to one ordinary share. The amendment did not reduce the exercise price of the underlying award; the weighted average exercise price of $19.1 per Class C share shown above is equivalent to $38.2 per ordinary share, consistent with the original grant terms. The modification did not result in an incremental share-based payment charge. The table below includes additional details regarding RSUs and share warrants, issued by a subsidiary of Klarna Group plc, as of, and for the year ended, December 31, 2025:
____________ 1 Legacy RSUs granted in SEK have been converted to USD using the average exchange rate for each period for presentation purposes. 2 Where share warrants were granted in SEK, the input has been converted to USD using the average exchange rate for the period for presentation purposes.
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| Disclosure of indirect measurement of fair value of goods or services received, share options granted during period | The inputs used within the model for the share warrants and options granted were:
____________ 1 Where share warrants in 2025, 2024 and 2023 were granted in SEK, the input has been converted to USD using the average exchange rate for the year for presentation purposes.
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Information on related parties (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of transactions between related parties [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Transactions With Related Parties |
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Income taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Major components of tax expense (income) [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of income tax, effective tax and deferred taxes | The table below represents income tax (expense) benefit, effective tax rate, deferred tax assets and deferred tax liabilities for the years ending December 31, 2025, 2024 and 2023:
|
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| Disclosure of deferred tax assets and liabilities |
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Net profit (loss) per share (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per share [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per share | The computation of loss per share for the respective periods is as follows:
|
Corporate information (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Sep. 22, 2025 |
Sep. 10, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of classes of share capital [line items] | |||||
| Proceeds from issue of ordinary shares | $ 169,000 | ||||
| Underwriting discounts and other offering costs | 22,410 | ||||
| Share issue related cost | 8,500 | $ 8,500 | $ 0 | $ 0 | |
| Initial public offering (IPO) | |||||
| Disclosure of classes of share capital [line items] | |||||
| Share issue related cost | $ 8,500 | ||||
| Ordinary shares | |||||
| Disclosure of classes of share capital [line items] | |||||
| IPO, offering share (USD per share) | $ 40.00 | $ 40.00 | |||
| Ordinary shares | Initial public offering (IPO) | |||||
| Disclosure of classes of share capital [line items] | |||||
| Number of shares issued through capital increase (in shares) | 5,000,000 | ||||
| Ordinary shares | IPO, selling shareholders | |||||
| Disclosure of classes of share capital [line items] | |||||
| Number of shares issued through capital increase (in shares) | 29,311,274 | ||||
| Ordinary shares | IPO, underwriters | |||||
| Disclosure of classes of share capital [line items] | |||||
| Number of shares issued through capital increase (in shares) | 5,146,691 | ||||
Accounting principles - Basis of preparation and consolidation (Details) |
Mar. 06, 2025 |
|---|---|
| Disclosure Of Significant Accounting Policies [Abstract] | |
| Stockholders' equity, stock split, conversion ratio | 8.3333% |
Accounting principles - Consumer Receivales (Details) - Fair Financing receivables |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Minimum | |
| Disclosure of financial assets [line items] | |
| Consumer receivables, installment plan, period | 3 months |
| Maximum | |
| Disclosure of financial assets [line items] | |
| Consumer receivables, installment plan, period | 48 months |
Accounting principles - Goodwill and intangible assets (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Minimum | Trademarks, Tradenames & Licenses | |
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
| Useful life measured as period of time, intangible assets other than goodwill | 3 years |
| Minimum | Capitalized development expenses | |
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
| Useful life measured as period of time, intangible assets other than goodwill | 3 years |
| Maximum | Trademarks, Tradenames & Licenses | |
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
| Useful life measured as period of time, intangible assets other than goodwill | 20 years |
| Maximum | Capitalized development expenses | |
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
| Useful life measured as period of time, intangible assets other than goodwill | 5 years |
Accounting principles - Summary of Useful Lives for Property, Plant and Equipment (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Equipment, tools and fixtures and fittings | |
| Disclosure of detailed information about property, plant and equipment [line items] | |
| Useful lives, property, plant and equipment | 5 years |
| Computers and other machinery | |
| Disclosure of detailed information about property, plant and equipment [line items] | |
| Useful lives, property, plant and equipment | 3 years |
Accounting principles - Revenue recognition (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Sales and marketing expense | $ 414 | $ 328 | $ 381 |
| Revenue, reduction of interest income, merchant fees | $ 12 | 10 | 13 |
| Minimum | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Useful life of contract | 3 years | ||
| Maximum | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Useful life of contract | 5 years | ||
| Distribution partner referral arrangements | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Sales and marketing expense | $ 109 | $ 81 | $ 59 |
Accounting principles - Share-based payments (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |
| Share-based payment arrangements, vesting period | 4 years |
| Restricted share units | |
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |
| Share-based payment arrangements, vesting period | 4 years |
| Share warrants and share options | Minimum | |
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |
| Share-based payment arrangements, vesting period | 4 years |
| Share warrants and share options | Maximum | |
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |
| Share-based payment arrangements, vesting period | 5 years |
Accounting principles - Summary of employee benefits (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure Of Significant Accounting Policies [Abstract] | |||
| Salaries and other remuneration | $ (417) | $ (393) | $ (379) |
| Statutory and contractual social security expenses | (102) | (113) | (109) |
| Pension expenses | (25) | (25) | (26) |
| Total employee benefits | $ (520) | $ (506) | $ (488) |
Risk management and management of capital - Foreign currency exposures explanatory (Details) - Currency risk - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| Reasonably possible change in risk variable, percent | 10.00% | ||
| Net average currency exposure | $ 58 | $ 63 | $ 72 |
| Effect of 10% change | (6) | (6) | (7) |
| EUR | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| Net average currency exposure | 11 | 18 | 29 |
| Effect of 10% change | (1) | (2) | (3) |
| USD | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| Net average currency exposure | 22 | 14 | 11 |
| Effect of 10% change | (2) | (1) | (1) |
| GBP | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| Net average currency exposure | 13 | 10 | 4 |
| Effect of 10% change | (1) | (1) | 0 |
| Other | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| Net average currency exposure | 12 | 22 | 28 |
| Effect of 10% change | $ (1) | $ (2) | $ (3) |
Risk management and management of capital - Interest rate exposures explanatory (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates, percent | (2.00%) | ||
| 200 bps parallel shift in interest rates | 2.00% | ||
| Interest rate risk | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates | $ (1) | $ (20) | $ (29) |
| 200 bps parallel shift in interest rates | 1 | 19 | 27 |
| SEK | Interest rate risk | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates | 10 | 4 | 5 |
| 200 bps parallel shift in interest rates | (10) | (4) | (5) |
| EUR | Interest rate risk | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates | (28) | (34) | (43) |
| 200 bps parallel shift in interest rates | 26 | 32 | 41 |
| USD | Interest rate risk | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates | 10 | 3 | 5 |
| 200 bps parallel shift in interest rates | (9) | (2) | (5) |
| GBP | Interest rate risk | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates | 6 | 6 | 4 |
| 200 bps parallel shift in interest rates | (6) | (6) | (4) |
| Other | Interest rate risk | |||
| Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
| -200 bps parallel shift in interest rates | 1 | 1 | 0 |
| 200 bps parallel shift in interest rates | $ (1) | $ (1) | $ 0 |
Risk management and management of capital - Undiscounted funding obligations (Details) - Liquidity risk - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Undiscounted Funding Obligations [Line Items] | ||
| Consumer deposits | $ 13,337 | $ 9,790 |
| Notes payable and other borrowings | 1,565 | 698 |
| Lease liabilities | 85 | 93 |
| Total | 14,987 | 10,581 |
| Not later than one year | ||
| Undiscounted Funding Obligations [Line Items] | ||
| Consumer deposits | 11,043 | 7,681 |
| Notes payable and other borrowings | 450 | 234 |
| Lease liabilities | 26 | 23 |
| Total | 11,518 | 7,938 |
| 1-5 years | ||
| Undiscounted Funding Obligations [Line Items] | ||
| Consumer deposits | 2,294 | 2,109 |
| Notes payable and other borrowings | 876 | 219 |
| Lease liabilities | 54 | 61 |
| Total | 3,224 | 2,389 |
| >5 years | ||
| Undiscounted Funding Obligations [Line Items] | ||
| Consumer deposits | 0 | 0 |
| Notes payable and other borrowings | 240 | 245 |
| Lease liabilities | 5 | 9 |
| Total | $ 245 | $ 254 |
Operating segments - Additional Information (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
USD ($)
segment
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Disclosure of operating segments [line items] | |||
| Number of operating segments | segment | 1 | ||
| Number of reportable segments | segment | 1 | ||
| Revenue from rendering of advertising services | $ 190 | $ 180 | $ 157 |
| Gain on sale of consumer receivables | 73 | 0 | 0 |
| Reclassification to the statement of profit and loss | 25 | 0 | 0 |
| Revenue from reminder fees | 261 | 254 | $ 198 |
| Revenue from subscription | 29 | $ 6 | |
| Fair Financing | |||
| Disclosure of operating segments [line items] | |||
| Interest income from consumer receivables at fair value through other comprehensive income | 20 | ||
| Consumer receivables | |||
| Disclosure of operating segments [line items] | |||
| Reclassification to the statement of profit and loss | 25 | ||
| Consumer receivables | Fair Financing receivables | |||
| Disclosure of operating segments [line items] | |||
| Consumer receivables, amount sold | $ 1,600 | ||
Operating segments - Disclosure of geographical areas (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of geographical areas [line items] | |||
| Revenue | $ 3,509 | $ 2,811 | $ 2,276 |
| Non-current assets | 1,995 | 1,200 | 1,757 |
| Sweden | |||
| Disclosure of geographical areas [line items] | |||
| Non-current assets | 1,284 | 412 | 1,017 |
| United States | |||
| Disclosure of geographical areas [line items] | |||
| Revenue | 1,243 | 850 | 609 |
| Non-current assets | 100 | 101 | 155 |
| Germany | |||
| Disclosure of geographical areas [line items] | |||
| Revenue | 848 | 755 | 620 |
| Non-current assets | 180 | 194 | 234 |
| United Kingdom | |||
| Disclosure of geographical areas [line items] | |||
| Revenue | 442 | 348 | 268 |
| Non-current assets | 199 | 167 | 151 |
| Other countries | |||
| Disclosure of geographical areas [line items] | |||
| Revenue | 976 | 858 | 779 |
| Non-current assets | $ 232 | $ 326 | $ 200 |
Operating segments - Disclosure of disaggregation of revenue (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Revenue | $ 3,509 | $ 2,811 | $ 2,276 |
| Transaction revenue | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Revenue | 2,103 | 1,792 | 1,531 |
| Consumer service revenue | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Revenue | 397 | 344 | 237 |
| Gain on sale of consumer receivables | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Revenue | 73 | 0 | 0 |
| Interest income | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Revenue | $ 937 | $ 675 | $ 508 |
Operating segments - Disclosure of disaggregation of interest income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Interest income | $ 937 | $ 675 | $ 508 |
| Fair Financing | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Interest income | 617 | 383 | 318 |
| "Snooze" fees | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Interest income | 161 | 128 | 96 |
| Debt securities | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Interest income | 134 | 144 | 75 |
| Incremental merchant fees | |||
| Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
| Interest income | $ 25 | $ 20 | $ 19 |
Cash and cash equivalents (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|---|
| Cash and cash equivalents [abstract] | ||||
| Cash held at central banks | $ 2,578 | $ 2,466 | ||
| Treasury bills held at central banks | 543 | 272 | ||
| Other bank deposits | 682 | 505 | ||
| Total cash and cash equivalents | $ 3,803 | $ 3,243 | $ 2,391 | $ 1,694 |
Consumer receivables - Summary of consumer receivables (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Consumer receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | $ 10,459 | $ 8,141 | |
| Fair Financing receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | 4,332 | 2,954 | |
| Pay Later receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | 6,127 | 5,187 | |
| Gross Carrying Amount | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | 8,473 | $ 8,394 | |
| Gross Carrying Amount | Consumer receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | 10,951 | 8,473 | |
| Gross Carrying Amount | Fair Financing receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | 4,604 | 3,085 | |
| Gross Carrying Amount | Pay Later receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | 6,347 | 5,388 | |
| Allowance for ECL | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | (332) | $ (311) | |
| Allowance for ECL | Consumer receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | (492) | (332) | |
| Allowance for ECL | Fair Financing receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | (272) | (131) | |
| Allowance for ECL | Pay Later receivables | |||
| Disclosure of financial assets [line items] | |||
| Financial assets | $ (220) | $ (201) |
Consumer receivables - Reconciliation of changes in loss allowance and in gross carrying amount (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Fair Financing receivables | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | $ 2,954 | |
| Financial assets at ending balance | 4,332 | $ 2,954 |
| Pay Later receivables | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 5,187 | |
| Financial assets at ending balance | 6,127 | 5,187 |
| Carrying Amount | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 8,473 | 8,394 |
| New assets originated or purchased | 56,017 | |
| Assets repaid | (54,813) | |
| Transfers to stage 1 | 0 | |
| Transfers to stage 2 | 0 | |
| Transfers to stage 3 | 0 | |
| Amounts written off | (467) | |
| Proceeds received from the sale of consumer receivables | (155) | |
| Other adjustments | (503) | |
| Financial assets at ending balance | 8,473 | |
| Carrying Amount | Financial instruments not credit-impaired | Stage 1 | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 7,952 | 7,753 |
| New assets originated or purchased | 55,836 | |
| Assets repaid | (52,841) | |
| Transfers to stage 1 | 816 | |
| Transfers to stage 2 | (3,067) | |
| Transfers to stage 3 | (19) | |
| Amounts written off | (27) | |
| Proceeds received from the sale of consumer receivables | 0 | |
| Other adjustments | (499) | |
| Financial assets at ending balance | 7,952 | |
| Carrying Amount | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 366 | 497 |
| New assets originated or purchased | 163 | |
| Assets repaid | (1,730) | |
| Transfers to stage 1 | (799) | |
| Transfers to stage 2 | 3,080 | |
| Transfers to stage 3 | (784) | |
| Amounts written off | (38) | |
| Proceeds received from the sale of consumer receivables | (20) | |
| Other adjustments | (3) | |
| Financial assets at ending balance | 366 | |
| Carrying Amount | Stage 3 | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 155 | 144 |
| New assets originated or purchased | 18 | |
| Assets repaid | (242) | |
| Transfers to stage 1 | (17) | |
| Transfers to stage 2 | (13) | |
| Transfers to stage 3 | 803 | |
| Amounts written off | (402) | |
| Proceeds received from the sale of consumer receivables | (135) | |
| Other adjustments | (1) | |
| Financial assets at ending balance | 155 | |
| Carrying Amount | Fair Financing receivables | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 3,085 | |
| New assets originated or purchased | 11,161 | |
| Assets repaid | (9,581) | |
| Transfers to stage 1 | 0 | |
| Transfers to stage 2 | 0 | |
| Transfers to stage 3 | 0 | |
| Amounts written off | (249) | |
| Proceeds received from the sale of consumer receivables | (36) | |
| Other adjustments | 225 | |
| Financial assets at ending balance | 4,604 | 3,085 |
| Carrying Amount | Fair Financing receivables | Financial instruments not credit-impaired | Stage 1 | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 2,893 | |
| New assets originated or purchased | 11,046 | |
| Assets repaid | (9,128) | |
| Transfers to stage 1 | 473 | |
| Transfers to stage 2 | (1,151) | |
| Transfers to stage 3 | (45) | |
| Amounts written off | (26) | |
| Proceeds received from the sale of consumer receivables | (2) | |
| Other adjustments | 206 | |
| Financial assets at ending balance | 4,267 | 2,893 |
| Carrying Amount | Fair Financing receivables | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 140 | |
| New assets originated or purchased | 98 | |
| Assets repaid | (385) | |
| Transfers to stage 1 | (466) | |
| Transfers to stage 2 | 1,166 | |
| Transfers to stage 3 | (320) | |
| Amounts written off | (21) | |
| Proceeds received from the sale of consumer receivables | (11) | |
| Other adjustments | 15 | |
| Financial assets at ending balance | 216 | 140 |
| Carrying Amount | Fair Financing receivables | Stage 3 | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 53 | |
| New assets originated or purchased | 17 | |
| Assets repaid | (69) | |
| Transfers to stage 1 | (7) | |
| Transfers to stage 2 | (15) | |
| Transfers to stage 3 | 364 | |
| Amounts written off | (203) | |
| Proceeds received from the sale of consumer receivables | (23) | |
| Other adjustments | 4 | |
| Financial assets at ending balance | 121 | 53 |
| Carrying Amount | Pay Later receivables | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 5,388 | |
| New assets originated or purchased | 55,559 | |
| Assets repaid | (54,823) | |
| Transfers to stage 1 | 0 | |
| Transfers to stage 2 | 0 | |
| Transfers to stage 3 | 0 | |
| Amounts written off | (376) | |
| Proceeds received from the sale of consumer receivables | (109) | |
| Other adjustments | 708 | |
| Financial assets at ending balance | 6,347 | 5,388 |
| Carrying Amount | Pay Later receivables | Financial instruments not credit-impaired | Stage 1 | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 5,059 | |
| New assets originated or purchased | 55,477 | |
| Assets repaid | (53,591) | |
| Transfers to stage 1 | 169 | |
| Transfers to stage 2 | (1,795) | |
| Transfers to stage 3 | (25) | |
| Amounts written off | (31) | |
| Proceeds received from the sale of consumer receivables | 0 | |
| Other adjustments | 673 | |
| Financial assets at ending balance | 5,936 | 5,059 |
| Carrying Amount | Pay Later receivables | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 227 | |
| New assets originated or purchased | 69 | |
| Assets repaid | (1,049) | |
| Transfers to stage 1 | (164) | |
| Transfers to stage 2 | 1,797 | |
| Transfers to stage 3 | (623) | |
| Amounts written off | (21) | |
| Proceeds received from the sale of consumer receivables | 0 | |
| Other adjustments | 27 | |
| Financial assets at ending balance | 263 | 227 |
| Carrying Amount | Pay Later receivables | Stage 3 | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | 102 | |
| New assets originated or purchased | 13 | |
| Assets repaid | (183) | |
| Transfers to stage 1 | (5) | |
| Transfers to stage 2 | (1) | |
| Transfers to stage 3 | 648 | |
| Amounts written off | (324) | |
| Proceeds received from the sale of consumer receivables | (109) | |
| Other adjustments | 8 | |
| Financial assets at ending balance | 149 | 102 |
| Allowance for ECL | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (332) | (311) |
| New assets originated or purchased | (592) | |
| Assets repaid | 946 | |
| Transfers to stage 1 | 0 | |
| Transfers to stage 2 | 0 | |
| Transfers to stage 3 | 0 | |
| Other movements in ECL allowance | (777) | |
| Amounts written off | 389 | |
| Other adjustments | 13 | |
| Financial assets at ending balance | (332) | |
| Allowance for ECL | Financial instruments not credit-impaired | Stage 1 | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (144) | (139) |
| New assets originated or purchased | (551) | |
| Assets repaid | 612 | |
| Transfers to stage 1 | (54) | |
| Transfers to stage 2 | 178 | |
| Transfers to stage 3 | 2 | |
| Other movements in ECL allowance | (215) | |
| Amounts written off | 4 | |
| Other adjustments | 19 | |
| Financial assets at ending balance | (144) | |
| Allowance for ECL | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (84) | (87) |
| New assets originated or purchased | (26) | |
| Assets repaid | 172 | |
| Transfers to stage 1 | 44 | |
| Transfers to stage 2 | (185) | |
| Transfers to stage 3 | 402 | |
| Other movements in ECL allowance | (419) | |
| Amounts written off | 20 | |
| Other adjustments | (5) | |
| Financial assets at ending balance | (84) | |
| Allowance for ECL | Stage 3 | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (104) | (85) |
| New assets originated or purchased | (15) | |
| Assets repaid | 162 | |
| Transfers to stage 1 | 10 | |
| Transfers to stage 2 | 7 | |
| Transfers to stage 3 | (404) | |
| Other movements in ECL allowance | (143) | |
| Amounts written off | 365 | |
| Other adjustments | (1) | |
| Financial assets at ending balance | (104) | |
| Allowance for ECL | Fair Financing receivables | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (131) | |
| New assets originated or purchased | (349) | |
| Assets repaid | 345 | |
| Transfers to stage 1 | 0 | |
| Transfers to stage 2 | 0 | |
| Transfers to stage 3 | 0 | |
| Other movements in ECL allowance | (291) | |
| Amounts written off | 154 | |
| Other adjustments | 0 | |
| Financial assets at ending balance | (272) | (131) |
| Allowance for ECL | Fair Financing receivables | Financial instruments not credit-impaired | Stage 1 | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (69) | |
| New assets originated or purchased | (318) | |
| Assets repaid | 227 | |
| Transfers to stage 1 | (50) | |
| Transfers to stage 2 | 109 | |
| Transfers to stage 3 | 1 | |
| Other movements in ECL allowance | (29) | |
| Amounts written off | 3 | |
| Other adjustments | (1) | |
| Financial assets at ending balance | (127) | (69) |
| Allowance for ECL | Fair Financing receivables | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (26) | |
| New assets originated or purchased | (20) | |
| Assets repaid | 66 | |
| Transfers to stage 1 | 46 | |
| Transfers to stage 2 | (117) | |
| Transfers to stage 3 | 182 | |
| Other movements in ECL allowance | (193) | |
| Amounts written off | 9 | |
| Other adjustments | 1 | |
| Financial assets at ending balance | (52) | (26) |
| Allowance for ECL | Fair Financing receivables | Stage 3 | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (36) | |
| New assets originated or purchased | (11) | |
| Assets repaid | 52 | |
| Transfers to stage 1 | 4 | |
| Transfers to stage 2 | 8 | |
| Transfers to stage 3 | (183) | |
| Other movements in ECL allowance | (69) | |
| Amounts written off | 142 | |
| Other adjustments | 0 | |
| Financial assets at ending balance | (93) | (36) |
| Allowance for ECL | Pay Later receivables | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (201) | |
| New assets originated or purchased | (409) | |
| Assets repaid | 697 | |
| Transfers to stage 1 | 0 | |
| Transfers to stage 2 | 0 | |
| Transfers to stage 3 | 0 | |
| Other movements in ECL allowance | (620) | |
| Amounts written off | 333 | |
| Other adjustments | (20) | |
| Financial assets at ending balance | (220) | (201) |
| Allowance for ECL | Pay Later receivables | Financial instruments not credit-impaired | Stage 1 | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (77) | |
| New assets originated or purchased | (383) | |
| Assets repaid | 455 | |
| Transfers to stage 1 | (7) | |
| Transfers to stage 2 | 168 | |
| Transfers to stage 3 | 1 | |
| Other movements in ECL allowance | (227) | |
| Amounts written off | 5 | |
| Other adjustments | (8) | |
| Financial assets at ending balance | (73) | (77) |
| Allowance for ECL | Pay Later receivables | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (57) | |
| New assets originated or purchased | (19) | |
| Assets repaid | 126 | |
| Transfers to stage 1 | 3 | |
| Transfers to stage 2 | (169) | |
| Transfers to stage 3 | 345 | |
| Other movements in ECL allowance | (294) | |
| Amounts written off | 15 | |
| Other adjustments | (6) | |
| Financial assets at ending balance | (56) | (57) |
| Allowance for ECL | Pay Later receivables | Stage 3 | Lifetime expected credit losses | ||
| Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
| Financial assets at beginning balance | (67) | |
| New assets originated or purchased | (7) | |
| Assets repaid | 116 | |
| Transfers to stage 1 | 4 | |
| Transfers to stage 2 | 1 | |
| Transfers to stage 3 | (346) | |
| Other movements in ECL allowance | (99) | |
| Amounts written off | 313 | |
| Other adjustments | (6) | |
| Financial assets at ending balance | $ (91) | $ (67) |
Consumer receivables - Additional information (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Pledged consumer receivables | ||
| Disclosure of financial assets [line items] | ||
| Amounts written off | $ 173 | $ 241 |
Settlement and trade receivables (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Total | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | $ 580 | $ 493 | |
| Payment service providers receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 453 | 368 | |
| Merchant receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 67 | 111 | |
| Debt collection receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 20 | 8 | |
| Other receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 40 | 6 | |
| Gross Carrying Amount | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 8,473 | $ 8,394 | |
| Gross Carrying Amount | Total | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 606 | 510 | |
| Gross Carrying Amount | Payment service providers receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 454 | 368 | |
| Gross Carrying Amount | Merchant receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 92 | 128 | |
| Gross Carrying Amount | Debt collection receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 20 | 8 | |
| Gross Carrying Amount | Other receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 40 | 6 | |
| Allowance for ECL | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | (332) | $ (311) | |
| Allowance for ECL | Total | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | (26) | (17) | |
| Allowance for ECL | Payment service providers receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | (1) | 0 | |
| Allowance for ECL | Merchant receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | (25) | (17) | |
| Allowance for ECL | Debt collection receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | 0 | 0 | |
| Allowance for ECL | Other receivables | |||
| Trade And Other Receivables [Line Items] | |||
| Financial assets | $ 0 | $ 0 |
Debt securities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Debt Securities In Issue [Line Items] | ||
| Debt securities | $ 1,518 | $ 454 |
| Treasury bills chargeable at central banks | ||
| Debt Securities In Issue [Line Items] | ||
| Debt securities | 1,365 | 401 |
| Mandatory deposits at central banks | ||
| Debt Securities In Issue [Line Items] | ||
| Debt securities | 93 | 42 |
| Bonds and other interest bearing securities | ||
| Debt Securities In Issue [Line Items] | ||
| Debt securities | $ 60 | $ 11 |
Leases - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of quantitative information about right-of-use assets [line items] | |||
| Impairments of right-of-use assets | $ 16 | $ 6 | $ 32 |
| Office Space | |||
| Disclosure of quantitative information about right-of-use assets [line items] | |||
| Impairments of right-of-use assets | $ 16 | $ 6 | $ 32 |
Leases - Information about right-of-use assets (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Presentation of leases for lessee [abstract] | |||
| Depreciation of right-of-use assets | $ (15) | $ (16) | $ (28) |
| Impairments of right-of-use assets | (16) | (6) | (32) |
| Interest expense for lease liabilities | (2) | (3) | (4) |
| Total right-of-use lease cost | (33) | (25) | (64) |
| Expenses relating to short-term leases | (9) | (10) | (7) |
| Total short-term and low-value leases | $ (9) | $ (10) | $ (7) |
Divestitures - Additional Information (Details) merchant in Thousands, $ in Millions |
Oct. 01, 2024
USD ($)
merchant
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|---|---|---|---|---|---|
| Disclosure Of Analysis Of Single Amount Of Disposed Operation [Line Items] | |||||
| Goodwill | $ 685 | $ 613 | |||
| Settlement and trade receivables | 580 | 493 | |||
| Other assets | 487 | 364 | |||
| Cash and cash equivalents | 3,803 | 3,243 | $ 2,391 | $ 1,694 | |
| Accounts payable and accrued expenses | 655 | 572 | |||
| Other liabilities | $ 358 | $ 255 | |||
| KCO | |||||
| Disclosure Of Analysis Of Single Amount Of Disposed Operation [Line Items] | |||||
| Number of merchants | merchant | 24 | ||||
| Cash | $ 195 | ||||
| Gain on sale after income tax | 171 | ||||
| Maximum future contingent consideration receivable | 28 | ||||
| Goodwill | 20 | ||||
| Settlement and trade receivables | 4 | ||||
| Other assets | 1 | ||||
| Cash and cash equivalents | 8 | ||||
| Accounts payable and accrued expenses | 2 | ||||
| Payables to merchants | 56 | ||||
| Other liabilities | 4 | ||||
| Intercompany receivables | $ 49 |
Divestitures - Disclosure of analysis of single amount of disposed operation (Details) - KCO $ in Millions |
Oct. 01, 2024
USD ($)
|
|---|---|
| Disclosure Of Analysis Of Single Amount Of Disposed Operation [Line Items] | |
| Cash | $ 195 |
| Fair value of contingent consideration | 0 |
| Transaction costs | (4) |
| Total disposal consideration | 191 |
| Carrying amount of net assets sold | (20) |
| Gain on sale before income tax and reclassification of foreign currency translation reserve | 171 |
| Gain on sale after income tax | $ 171 |
Goodwill and Intangible assets - Schedule intangible assets and goodwill (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | $ 989 | |
| Intangible assets and goodwill at end of period | 1,068 | $ 989 |
| Goodwill | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 613 | |
| Intangible assets and goodwill at end of period | 685 | 613 |
| Trademarks, Tradenames & Licenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 77 | |
| Intangible assets and goodwill at end of period | 87 | 77 |
| Capitalized development expenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 138 | |
| Intangible assets and goodwill at end of period | 119 | 138 |
| Other intangible assets | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 161 | |
| Intangible assets and goodwill at end of period | 177 | 161 |
| Cost value | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 1,481 | 1,588 |
| Additions | 27 | 44 |
| Sales/disposals | 0 | (46) |
| Currency translation difference | 224 | (105) |
| Intangible assets and goodwill at end of period | 1,732 | 1,481 |
| Cost value | Goodwill | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 626 | 680 |
| Sales/disposals | 0 | (20) |
| Currency translation difference | 72 | (34) |
| Intangible assets and goodwill at end of period | 698 | 626 |
| Cost value | Trademarks, Tradenames & Licenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 117 | 127 |
| Additions | 0 | 0 |
| Sales/disposals | 0 | 0 |
| Currency translation difference | 22 | (10) |
| Intangible assets and goodwill at end of period | 139 | 117 |
| Cost value | Capitalized development expenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 451 | 468 |
| Additions | 27 | 44 |
| Sales/disposals | 0 | (21) |
| Currency translation difference | 88 | (40) |
| Intangible assets and goodwill at end of period | 566 | 451 |
| Cost value | Other intangible assets | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 287 | 313 |
| Additions | 0 | 0 |
| Sales/disposals | 0 | (5) |
| Currency translation difference | 42 | (21) |
| Intangible assets and goodwill at end of period | 329 | 287 |
| Accumulated amortisation | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (410) | (341) |
| Amortization for the year | (88) | (110) |
| Sales/disposals | 0 | 13 |
| Currency translation difference | (72) | 28 |
| Intangible assets and goodwill at end of period | (570) | (410) |
| Accumulated amortisation | Goodwill | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | 0 | 0 |
| Sales/disposals | 0 | 0 |
| Currency translation difference | 0 | 0 |
| Intangible assets and goodwill at end of period | 0 | 0 |
| Accumulated amortisation | Trademarks, Tradenames & Licenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (32) | (21) |
| Amortization for the year | (5) | (13) |
| Sales/disposals | 0 | 0 |
| Currency translation difference | (6) | 2 |
| Intangible assets and goodwill at end of period | (43) | (32) |
| Accumulated amortisation | Capitalized development expenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (266) | (226) |
| Amortization for the year | (69) | (71) |
| Sales/disposals | 0 | 10 |
| Currency translation difference | (54) | 21 |
| Intangible assets and goodwill at end of period | (389) | (266) |
| Accumulated amortisation | Other intangible assets | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (112) | (94) |
| Amortization for the year | (14) | (26) |
| Sales/disposals | 0 | 3 |
| Currency translation difference | (12) | 5 |
| Intangible assets and goodwill at end of period | (138) | (112) |
| Accumulated impairment | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (82) | (47) |
| Impairment for the year | (2) | (49) |
| Sales/disposals | 0 | 11 |
| Currency translation difference | (10) | 3 |
| Intangible assets and goodwill at end of period | (94) | (82) |
| Accumulated impairment | Goodwill | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (13) | (13) |
| Impairment for the year | 0 | 0 |
| Sales/disposals | 0 | 0 |
| Currency translation difference | 0 | 0 |
| Intangible assets and goodwill at end of period | (13) | (13) |
| Accumulated impairment | Trademarks, Tradenames & Licenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (8) | (8) |
| Impairment for the year | 0 | 0 |
| Sales/disposals | 0 | 0 |
| Currency translation difference | (1) | 0 |
| Intangible assets and goodwill at end of period | (9) | (8) |
| Accumulated impairment | Capitalized development expenses | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (47) | (25) |
| Impairment for the year | (2) | (36) |
| Sales/disposals | 0 | 11 |
| Currency translation difference | (9) | 3 |
| Intangible assets and goodwill at end of period | (58) | (47) |
| Accumulated impairment | Other intangible assets | ||
| Reconciliation of changes in intangible assets and goodwill [abstract] | ||
| Intangible assets and goodwill at beginning of period | (14) | (1) |
| Impairment for the year | 0 | (13) |
| Sales/disposals | 0 | 0 |
| Currency translation difference | 0 | 0 |
| Intangible assets and goodwill at end of period | $ (14) | $ (14) |
Goodwill and Intangible assets - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Oct. 01, 2024 |
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Impairment for the year | $ 0 | ||
| Forecast plan period | 2 years | 2 years | |
| Extrapolated forecast period | 5 years | 5 years | |
| Growth rate beyond initial cash flow projections | 3.50% | 3.50% | |
| Discount rate | 11.20% | 12.50% | |
| Goodwill | KCO | |||
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Goodwill disposal | $ 20 | ||
Property and equipment (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | $ 85 | |
| Property, plant and equipment including right-of-use assets at the end of the period | 60 | $ 85 |
| Right-of-use assets | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 72 | |
| Property, plant and equipment including right-of-use assets at the end of the period | 51 | 72 |
| Leasehold improvements | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 2 | |
| Property, plant and equipment including right-of-use assets at the end of the period | 0 | 2 |
| Equipment | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 11 | |
| Property, plant and equipment including right-of-use assets at the end of the period | 9 | 11 |
| Cost value | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 243 | 300 |
| Additions | 3 | 1 |
| Sales/disposals | (9) | (36) |
| Remeasurement | (3) | (1) |
| Currency translation difference | 42 | (21) |
| Property, plant and equipment including right-of-use assets at the end of the period | 276 | 243 |
| Cost value | Right-of-use assets | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 178 | 226 |
| Additions | 0 | 0 |
| Sales/disposals | (7) | (31) |
| Remeasurement | (3) | (1) |
| Currency translation difference | 31 | (16) |
| Property, plant and equipment including right-of-use assets at the end of the period | 199 | 178 |
| Cost value | Leasehold improvements | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 12 | 14 |
| Additions | 0 | 0 |
| Sales/disposals | 0 | (1) |
| Remeasurement | 0 | 0 |
| Currency translation difference | 2 | (1) |
| Property, plant and equipment including right-of-use assets at the end of the period | 14 | 12 |
| Cost value | Equipment | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | 53 | 60 |
| Additions | 3 | 1 |
| Sales/disposals | (2) | (4) |
| Remeasurement | 0 | 0 |
| Currency translation difference | 9 | (4) |
| Property, plant and equipment including right-of-use assets at the end of the period | 63 | 53 |
| Accumulated depreciation | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (125) | (143) |
| Depreciation for the year | (18) | (24) |
| Sales/disposals | 8 | 31 |
| Currency translation difference | (24) | 11 |
| Property, plant and equipment including right-of-use assets at the end of the period | (159) | (125) |
| Accumulated depreciation | Right-of-use assets | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (77) | (95) |
| Depreciation for the year | (15) | (16) |
| Sales/disposals | 7 | 27 |
| Currency translation difference | (16) | 7 |
| Property, plant and equipment including right-of-use assets at the end of the period | (101) | (77) |
| Accumulated depreciation | Leasehold improvements | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (9) | (10) |
| Depreciation for the year | 0 | (1) |
| Sales/disposals | 0 | 1 |
| Currency translation difference | (1) | 1 |
| Property, plant and equipment including right-of-use assets at the end of the period | (10) | (9) |
| Accumulated depreciation | Equipment | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (39) | (38) |
| Depreciation for the year | (3) | (7) |
| Sales/disposals | 1 | 3 |
| Currency translation difference | (7) | 3 |
| Property, plant and equipment including right-of-use assets at the end of the period | (48) | (39) |
| Accumulated impairment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (33) | (35) |
| Impairment for the year | (21) | (6) |
| Sales/disposals | 0 | 3 |
| Currency translation difference | (3) | 5 |
| Property, plant and equipment including right-of-use assets at the end of the period | (57) | (33) |
| Accumulated impairment | Right-of-use assets | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (29) | (30) |
| Impairment for the year | (16) | (6) |
| Sales/disposals | 0 | 3 |
| Currency translation difference | (2) | 4 |
| Property, plant and equipment including right-of-use assets at the end of the period | (47) | (29) |
| Accumulated impairment | Leasehold improvements | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (1) | (2) |
| Impairment for the year | (3) | 0 |
| Sales/disposals | 0 | 0 |
| Currency translation difference | 0 | 1 |
| Property, plant and equipment including right-of-use assets at the end of the period | (4) | (1) |
| Accumulated impairment | Equipment | Property, plant and equipment | ||
| Disclosure of detailed information about property, plant and equipment [line items] | ||
| Property, plant and equipment including right-of-use assets at the beginning of the period | (3) | (3) |
| Impairment for the year | (2) | 0 |
| Sales/disposals | 0 | 0 |
| Currency translation difference | (1) | 0 |
| Property, plant and equipment including right-of-use assets at the end of the period | $ (6) | $ (3) |
Other assets - Summary of other assets (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Miscellaneous assets [abstract] | ||
| Current tax assets | $ 18 | $ 21 |
| VAT receivables | 41 | 37 |
| Commercial agreement assets | 155 | 65 |
| Derivatives | 21 | 10 |
| Accrued income | 70 | 78 |
| Prepaid expenses | 49 | 28 |
| Equity investments | 15 | 24 |
| Collateral for derivatives | 14 | 69 |
| Securitization partner receivable | 54 | 0 |
| Other receivables | 50 | 32 |
| Total | $ 487 | $ 364 |
Other assets - Additional Information (Details) $ in Millions |
Dec. 31, 2025
USD ($)
|
|---|---|
| Miscellaneous assets [abstract] | |
| Commercial agreement, fair market value | $ 85 |
| Commercial agreement assets, outstanding | $ 75 |
Notes payable and other borrowings - Disclosure of notes payable and other borrowings (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of detailed information about borrowings [line items] | ||
| Commercial papers | $ 84 | $ 13 |
| Derivatives | 13 | 61 |
| Subordinated liabilities | 184 | 171 |
| Total | 1,359 | 513 |
| Liabilities to financial institutions | ||
| Disclosure of detailed information about borrowings [line items] | ||
| Borrowings | 163 | 132 |
| Senior unsecured bonds | ||
| Disclosure of detailed information about borrowings [line items] | ||
| Borrowings | 326 | 136 |
| Warehouse financing facility | ||
| Disclosure of detailed information about borrowings [line items] | ||
| Borrowings | $ 589 | $ 0 |
Notes payable and other borrowings - Additional Information (Details) kr in Millions, $ in Millions, € in Billions |
12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2025
SEK (kr)
|
Dec. 31, 2025
EUR (€)
|
Jun. 18, 2025
USD ($)
|
Jun. 18, 2025
SEK (kr)
|
Jun. 24, 2024
USD ($)
|
Jun. 24, 2024
SEK (kr)
|
Apr. 19, 2024
USD ($)
|
Mar. 21, 2024
USD ($)
|
Mar. 21, 2024
SEK (kr)
|
Aug. 16, 2023
USD ($)
|
Aug. 16, 2023
SEK (kr)
|
May 16, 2023
USD ($)
|
May 16, 2023
SEK (kr)
|
|
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Notes payable and other borrowings redeemed | $ 86.0 | $ 169.0 | $ 150.0 | |||||||||||||
| Interest expense on borrowings | 30.0 | 17.0 | 13.0 | |||||||||||||
| Swedish Medium Term Note Program (SMTN) | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Maximum amount of notes authorised | 1,100.0 | kr 10,000 | ||||||||||||||
| Notes payable and other borrowings redeemed | 0.0 | 34.0 | 66.0 | |||||||||||||
| Issued notes repurchased | 0.0 | 8.0 | ||||||||||||||
| Euro Medium Term Note Program (EMTN) | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Maximum amount of notes authorised | 3,100.0 | € 3 | ||||||||||||||
| Senior Unsecured Bonds, 500 million due 2026, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 49.5 | kr 500 | ||||||||||||||
| Senior Unsecured Bonds, 750 million due 2026, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 74.2 | kr 750 | ||||||||||||||
| Senior Unsecured Bonds, 250 million due 2027, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 24.7 | kr 250 | ||||||||||||||
| Senior Unsecured Bonds, 600 million due 2027, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 65.0 | kr 600 | ||||||||||||||
| Senior Unsecured Bonds, 900 million due 2028, EMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 98.0 | kr 900 | ||||||||||||||
| Senior Unsecured Notes | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Interest expense on borrowings | $ 10.0 | $ 5.0 | $ 4.0 | |||||||||||||
| Subordinated Liabilities, 500 million due 2033 | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 50.0 | kr 500 | ||||||||||||||
| Subordinated Liabilities, 250 million due 2033 | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 25.0 | kr 250 | ||||||||||||||
| Subordinated Liabilities, 100 million due 2034 | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Nominal amount | $ 100.0 | |||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Senior Unsecured Bonds, 500 million due 2026, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 2.50% | 2.50% | ||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Senior Unsecured Bonds, 750 million due 2026, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 1.80% | 1.80% | ||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Senior Unsecured Bonds, 250 million due 2027, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 2.10% | 2.10% | ||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Senior Unsecured Bonds, 600 million due 2027, SMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 1.60% | 1.60% | ||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Senior Unsecured Bonds, 900 million due 2028, EMTN program | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 1.80% | 1.80% | ||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Subordinated Liabilities, 500 million due 2033 | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 7.50% | 7.50% | ||||||||||||||
| Stockholm Interbank Offered Rate (STIBOR) | Subordinated Liabilities, 250 million due 2033 | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 7.50% | 7.50% | ||||||||||||||
| Secured Overnight Financing Rate (SOFR) | Subordinated Liabilities, 100 million due 2034 | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 7.00% | |||||||||||||||
| Minimum | Reference rate | Subordinated Liabilities | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 7.00% | 7.00% | 7.00% | |||||||||||||
| Maximum | Reference rate | Subordinated Liabilities | ||||||||||||||||
| Disclosure of detailed information about borrowings [line items] | ||||||||||||||||
| Borrowings, adjustment to interest rate basis | 7.50% | 7.50% | 7.50% | |||||||||||||
Other liabilities - Disclosure of accrued expenses and other liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Miscellaneous liabilities [abstract] | ||
| Lease liabilities | $ 80 | $ 87 |
| Commercial agreement liabilities | 40 | 31 |
| Income and payroll tax payables | 28 | 32 |
| Provisions | 13 | 6 |
| Card scheme liabilities | 54 | 46 |
| Payable to SPV | 44 | 15 |
| Other liabilities | 99 | 38 |
| Total | $ 358 | $ 255 |
Other liabilities - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Other Liabilities [Line Items] | ||
| Net provision | $ 0 | $ 0 |
| Gross transaction value, exposure | $ 889 | 778 |
| Maximum | ||
| Other Liabilities [Line Items] | ||
| Contingent liabilities, exposure | $ 130 | |
Structured entities - Additional Information (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
USD ($)
tranche
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Disclosure of unconsolidated structured entities [line items] | |||
| Consolidated structured entities, Reference pool, number of tranches | tranche | 2 | ||
| Unconsolidated structured entities, reference pool, number of tranches | tranche | 3 | ||
| Expense from securitized liabilities | $ 32.0 | $ 34.0 | $ 22.0 |
| Consumer receivables | 10,459.0 | 8,141.0 | |
| Transaction and service revenue | 2,500.0 | 2,136.0 | 1,768.0 |
| Synthetic securitization transactions | |||
| Disclosure of unconsolidated structured entities [line items] | |||
| Expense from securitized liabilities | 30.7 | 32.3 | 21.9 |
| Consumer receivables | 1,300.0 | 2,100.0 | $ 1,700.0 |
| Forward flow securitization | |||
| Disclosure of unconsolidated structured entities [line items] | |||
| Assets transferred to structured entities, at time of transfer | 18,000.0 | 3,300.0 | |
| Total assets | 786.0 | 2.0 | |
| Transaction and service revenue | 12.2 | 1.6 | |
| Receivables recognised by SPV | $ 2,940.0 | $ 867.0 | |
| Forward flow securitization | Minimum | |||
| Disclosure of unconsolidated structured entities [line items] | |||
| Commitment term | 2 years | ||
| Commitment amount | $ 750.0 | ||
| Forward flow securitization | Maximum | |||
| Disclosure of unconsolidated structured entities [line items] | |||
| Commitment term | 3 years | ||
| Commitment amount | $ 1,000.0 | ||
Structured entities - Disclosure of interests in unconsolidated structured entities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of unconsolidated structured entities [line items] | ||
| Consumer receivables at fair value through OCI | $ 386 | $ 0 |
| Consumer receivables at fair value through profit and loss | 400 | 2 |
| Pledged assets under forward flow arrangements | 2,334 | 5 |
| Payable to SPV | 44 | 15 |
| Forward flow securitization | ||
| Disclosure of unconsolidated structured entities [line items] | ||
| Consumer receivables at fair value through OCI | 386 | 0 |
| Consumer receivables at fair value through profit and loss | 400 | 2 |
| Pledged assets under forward flow arrangements | 0 | 2 |
| Total assets | 786 | 4 |
| Payable to SPV | 44 | 15 |
| Total liabilities | $ 44 | $ 15 |
Funding costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Expenses by nature [abstract] | |||
| Consumer deposits | $ (330) | $ (343) | $ (190) |
| Fair value adjustment on loans sold and held for sale | (163) | (30) | 0 |
| Other cost of securitisations | (32) | (34) | (22) |
| Interest-bearing securities | (30) | (26) | (24) |
| Liabilities to credit institutions | (30) | (17) | (13) |
| Subordinated liabilities | (19) | (17) | (6) |
| Other funding costs | (63) | (36) | (42) |
| Total | $ (667) | $ (503) | $ (297) |
Derivatives - Additional information (Details) - USD ($) $ in Billions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Derivatives | ||
| Disclosure of detailed information about hedging instruments [line items] | ||
| Nominal amount | $ 8.3 | $ 7.4 |
Derivatives - Summary of detailed information about fair value and notional amounts of derivative instruments (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of detailed information about hedging instruments [line items] | ||
| Positive | $ 21 | $ 10 |
| Negative | (13) | (61) |
| Derivatives designated in a hedged relationship | Interest rate swaps | ||
| Disclosure of detailed information about hedging instruments [line items] | ||
| Positive | 2 | 4 |
| Negative | (1) | (1) |
| Nominal amount | 2,883 | 3,805 |
| Derivatives not designated in a hedged relationship | Currency forwards | ||
| Disclosure of detailed information about hedging instruments [line items] | ||
| Positive | 20 | 6 |
| Negative | (12) | (60) |
| Nominal amount | $ 5,413 | $ 3,588 |
Derivatives - Summary of detailed information about hedged items (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Disclosure of detailed information about hedged items [line items] | ||
| Positive | $ 21 | $ 10 |
| Negative | (13) | (61) |
| Consumer deposits | Fair value hedges | ||
| Disclosure of detailed information about hedged items [line items] | ||
| Consumer deposits | 2,883 | 3,805 |
| Accumulated amount of fair value adjustment | $ (1) | $ 6 |
| Interest rate swaps | Fair value hedges | ||
| Disclosure of detailed information about hedged items [line items] | ||
| Nominal amount | 2,883 | 3,805 |
| Positive | $ 2 | $ 4 |
| Negative | (1) | (1) |
| Change in fair value used to calculate hedge ineffectiveness | (3) | (5) |
| Ineffectiveness recognized in funding costs | $ 0 | $ 0 |
Derivatives - Summary of maturity of the nominal amount of the hedge instrument (Details) - Interest rate swaps - Fair value hedges - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of detailed information about hedging instruments [line items] | ||
| Interest rate risk | 2,883 | 3,805 |
| Within 3 months | ||
| Disclosure of detailed information about hedging instruments [line items] | ||
| Interest rate risk | 898 | 833 |
| Average fixed interest rate | 2.20% | 3.50% |
| Later than three months and not later than one year | ||
| Disclosure of detailed information about hedging instruments [line items] | ||
| Interest rate risk | 1,557 | 2,000 |
| Average fixed interest rate | 1.90% | 2.80% |
| Later than one year | ||
| Disclosure of detailed information about hedging instruments [line items] | ||
| Interest rate risk | 428 | 972 |
| Average fixed interest rate | 1.90% | 2.20% |
Pledged assets, guarantees and commitments - Summary of detailed information about pledged assets (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Pledged assets | $ 2,334 | $ 5 |
| Pledged consumer receivables | ||
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Pledged assets | 2,319 | 0 |
| Pledged treasury bills chargeable at central banks, etc., and pledged bonds and other interest-bearing securities | ||
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Pledged assets | 2 | 2 |
| Other pledged assets | ||
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Pledged assets | $ 13 | $ 3 |
Pledged assets, guarantees and commitments - Summary of detailed information about commitments and guarantees (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Total | $ 3,963 | $ 1,655 |
| Commitments for loan funding | ||
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Total | 3,963 | 1,655 |
| Guarantees | Guarantees | ||
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Total | $ 0 | $ 0 |
Pledged assets, guarantees and commitments - Additional Information (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Contingent liabilities and commitments | $ 3,963 | $ 1,655 |
| Commitments for loan funding | ||
| Disclosure of assets pledged, Guarantees And Commitments [Line Items] | ||
| Contingent liabilities and commitments | $ 3,963 | $ 1,655 |
Fair value measurement of financial assets and liabilities - Summary of fair value measurement of assets and liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | $ 822 | $ 36 | |
| Total financial liabilities | 13 | 61 | |
| Recurring fair value measurement | Derivatives | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 13 | 61 | |
| Recurring fair value measurement | Convertible notes | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 0 | 0 | |
| Level 1 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 7 | 9 | |
| Total financial liabilities | 0 | 0 | |
| Level 1 | Recurring fair value measurement | Derivatives | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 0 | 0 | |
| Level 1 | Recurring fair value measurement | Convertible notes | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 0 | 0 | |
| Level 2 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 21 | 10 | |
| Total financial liabilities | 13 | 61 | |
| Level 2 | Recurring fair value measurement | Derivatives | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 13 | 61 | |
| Level 2 | Recurring fair value measurement | Convertible notes | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 0 | 0 | |
| Level 3 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 794 | 17 | |
| Total financial liabilities | 0 | 0 | |
| Level 3 | Recurring fair value measurement | Derivatives | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 0 | 0 | |
| Level 3 | Recurring fair value measurement | Convertible notes | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial liabilities | 0 | 0 | |
| Consumer receivables at fair value through P&L | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 400 | 2 | |
| Consumer receivables at fair value through P&L | Level 1 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Consumer receivables at fair value through P&L | Level 2 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Consumer receivables at fair value through P&L | Level 3 | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 400 | 2 | $ 0 |
| Consumer receivables at fair value through P&L | Level 3 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 400 | 2 | |
| Consumer receivables at fair value through OCI | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 386 | 0 | |
| Consumer receivables at fair value through OCI | Level 1 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Consumer receivables at fair value through OCI | Level 2 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Consumer receivables at fair value through OCI | Level 3 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 386 | 0 | |
| Derivatives | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 21 | 10 | |
| Derivatives | Level 1 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Derivatives | Level 2 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 21 | 10 | |
| Derivatives | Level 3 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Equity investments | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 15 | 24 | |
| Equity investments | Level 1 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 7 | 9 | |
| Equity investments | Level 2 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 0 | 0 | |
| Equity investments | Level 3 | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | 8 | 15 | $ 26 |
| Equity investments | Level 3 | Recurring fair value measurement | |||
| Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
| Total financial assets | $ 8 | $ 15 |
Fair value measurement of financial assets and liabilities -Summary of analysis of movements in level 3 assets and liabilities (Details) - Level 3 - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Equity investments | ||
| Changes in fair value measurement, assets [abstract] | ||
| Financial assets at beginning balance | $ 15 | $ 26 |
| Receivables originated to be sold | 0 | 0 |
| Gain/(loss) in statement of profit or loss | (7) | (11) |
| of which: unrealized gain/(loss) | (7) | (11) |
| of which: realized gain/(loss) | 0 | 0 |
| Receivables sold to third parties | 0 | 0 |
| Consumer receivables repaid | 0 | |
| Financial assets at ending balance | 8 | 15 |
| Consumer receivables at fair value through P&L | ||
| Changes in fair value measurement, assets [abstract] | ||
| Financial assets at beginning balance | 2 | 0 |
| Receivables originated to be sold | 17,246 | 3,261 |
| Gain/(loss) in statement of profit or loss | (164) | (30) |
| of which: unrealized gain/(loss) | 0 | 0 |
| of which: realized gain/(loss) | (164) | (30) |
| Receivables sold to third parties | (16,684) | (3,229) |
| Consumer receivables repaid | 0 | |
| Financial assets at ending balance | 400 | 2 |
| Consumer receivables at fair value through OCI | ||
| Changes in fair value measurement, assets [abstract] | ||
| Financial assets at beginning balance | 0 | 0 |
| Receivables originated to be sold | 1,147 | 0 |
| Gain/(loss) in statement of profit or loss | 37 | 0 |
| of which: unrealized gain/(loss) | 12 | 0 |
| of which: realized gain/(loss) | 25 | 0 |
| Receivables sold to third parties | (465) | 0 |
| Consumer receivables repaid | (333) | |
| Financial assets at ending balance | $ 386 | $ 0 |
Fair value measurement of financial assets and liabilities - Summary of financial assets and liabilities, at amortized cost (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | $ 1,518 | $ 454 |
| Consumer deposits | 13,003 | 9,510 |
| Level 1 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Total financial assets | 1,969 | 679 |
| Consumer deposits | 0 | 0 |
| Subordinated liabilities | 0 | 0 |
| Total financial liabilities | 0 | 0 |
| Level 1 | Senior unsecured bonds | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 0 | 0 |
| Level 1 | Commercial papers | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 0 | 0 |
| Level 2 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Total financial assets | 0 | 0 |
| Consumer deposits | 13,188 | 9,671 |
| Subordinated liabilities | 206 | 175 |
| Total financial liabilities | 13,806 | 9,996 |
| Level 2 | Senior unsecured bonds | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 327 | 136 |
| Level 2 | Commercial papers | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 84 | 14 |
| Level 3 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Total financial assets | 0 | 0 |
| Consumer deposits | 0 | 0 |
| Subordinated liabilities | 0 | 0 |
| Total financial liabilities | 0 | 0 |
| Level 3 | Senior unsecured bonds | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 0 | 0 |
| Level 3 | Commercial papers | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 0 | 0 |
| Carrying Amount | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Total financial assets | 1,968 | 684 |
| Consumer deposits | 13,003 | 9,510 |
| Subordinated liabilities | 184 | 171 |
| Total financial liabilities | 13,597 | 9,830 |
| Carrying Amount | Senior unsecured bonds | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 326 | 136 |
| Carrying Amount | Commercial papers | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 84 | 13 |
| Balance at Fair Value | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Total financial assets | 1,969 | 679 |
| Consumer deposits | 13,188 | 9,671 |
| Subordinated liabilities | 206 | 175 |
| Total financial liabilities | 13,805 | 9,996 |
| Balance at Fair Value | Senior unsecured bonds | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 327 | 136 |
| Balance at Fair Value | Commercial papers | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments issued at amortised cost | 84 | 14 |
| Treasury bills chargeable at central banks | Level 1 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 1,909 | 668 |
| Treasury bills chargeable at central banks | Level 2 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 0 | 0 |
| Treasury bills chargeable at central banks | Level 3 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 0 | 0 |
| Treasury bills chargeable at central banks | Carrying Amount | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 1,908 | 673 |
| Treasury bills chargeable at central banks | Balance at Fair Value | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 1,909 | 668 |
| Bonds and other interest bearing securities | Level 1 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 60 | 11 |
| Bonds and other interest bearing securities | Level 2 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 0 | 0 |
| Bonds and other interest bearing securities | Level 3 | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 0 | 0 |
| Bonds and other interest bearing securities | Carrying Amount | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | 60 | 11 |
| Bonds and other interest bearing securities | Balance at Fair Value | ||
| Disclosure Of Fair Values Of Financial Instruments Carried At Amortised Cost [Line Items] | ||
| Debt instruments held at amortised cost | $ 60 | $ 11 |
Fair value measurement of financial assets and liabilities - Summary of gains or losses on financial instruments (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Fair Value Measurement [Abstract] | ||
| Financial instruments mandatory measured at fair value through profit or loss | $ (127) | $ (152) |
| Financial assets measured at amortized cost | 2,567 | 2,091 |
| Financial liabilities measured at amortized cost | (611) | (527) |
| Currency exchange gains/losses | (102) | 78 |
| Total | $ 1,726 | $ 1,490 |
Issued capital and reserves - Schedule of issued and outstanding share capital (Details) - $ / shares |
12 Months Ended | |||
|---|---|---|---|---|
Sep. 10, 2025 |
Sep. 09, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Ordinary shares | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 0.00010 | |||
| Number of shares issued, beginning period (in shares) | 365,296,572 | 364,018,908 | ||
| Shares issued | 12,211,338 | 1,277,664 | ||
| Redesignation | ||||
| Capital reduction | 0 | |||
| Number of shares issued, ending period (in shares) | 377,507,910 | 365,296,572 | ||
| Class B shares | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 0.0001 | $ 0.0001 | $ 0.00010 | |
| Number of shares issued, beginning period (in shares) | 0 | 0 | ||
| Shares issued | 369,911,294 | 369,911,294 | 0 | |
| Redesignation | 41,774,705 | (41,774,705) | ||
| Capital reduction | ||||
| Number of shares issued, ending period (in shares) | 328,136,589 | 0 | ||
| Class C shares | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 0.00010 | |||
| Number of shares issued, beginning period (in shares) | 0 | 0 | ||
| Shares issued | 0 | 0 | ||
| Redesignation | ||||
| Capital reduction | 0 | |||
| Number of shares issued, ending period (in shares) | 0 | 0 | ||
| Deferred shares, type 1 | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 0.00073 | |||
| Number of shares issued, beginning period (in shares) | 365,296,572 | 364,018,908 | ||
| Shares issued | 257,772 | 1,277,664 | ||
| Redesignation | ||||
| Capital reduction | (365,554,344) | |||
| Number of shares issued, ending period (in shares) | 0 | 365,296,572 | ||
| Deferred shares, type 2 | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 11.35013 | $ 11.35013 | ||
| Number of shares issued, beginning period (in shares) | 0 | 0 | ||
| Shares issued | 369,911,294 | 369,911,294 | 0 | |
| Redesignation | ||||
| Capital reduction | (369,911,294) | |||
| Number of shares issued, ending period (in shares) | 0 | 0 | ||
| Deferred shares, type 3 | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 0.28000 | |||
| Number of shares issued, beginning period (in shares) | 1 | 0 | ||
| Shares issued | 0 | 1 | ||
| Redesignation | ||||
| Capital reduction | (1) | |||
| Number of shares issued, ending period (in shares) | 0 | 1 | ||
| Deferred shares, type 4 | ||||
| Disclosure of classes of share capital [line items] | ||||
| Nominal value (in USD per share) | $ 0.00010 | |||
| Number of shares issued, beginning period (in shares) | 0 | 0 | ||
| Shares issued | 0 | 0 | ||
| Redesignation | 41,774,705 | |||
| Capital reduction | (41,774,705) | |||
| Number of shares issued, ending period (in shares) | 0 | 0 | ||
Issued capital and reserves - Additional Information (Details) |
1 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 10, 2025
USD ($)
$ / shares
shares
|
Sep. 09, 2025
$ / shares
shares
|
Mar. 06, 2025
USD ($)
$ / shares
shares
|
Nov. 30, 2025
USD ($)
|
Sep. 30, 2025
USD ($)
|
Jan. 31, 2025
shares
|
Dec. 31, 2025
USD ($)
shares
vote
$ / shares
|
Dec. 31, 2024
USD ($)
shares
|
Dec. 31, 2023
USD ($)
|
Jun. 30, 2025
USD ($)
|
||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Maximum aggregate nominal share capital authorized | $ 367,502.51 | ||||||||||||
| Stockholders' equity, stock split, conversion ratio | 8.3333% | ||||||||||||
| Share issue related cost | $ 8,500,000 | $ 8,500,000 | $ 0 | $ 0 | |||||||||
| Capital reduction | [1] | $ 1,000,000 | |||||||||||
| Common equity tier 1 capital ratio minimum | 7.00% | ||||||||||||
| Proceeds from issuing other equity instruments | $ 0 | 142,000,000 | 0 | ||||||||||
| Payments of other equity instruments | 0 | 0 | 24,000,000 | ||||||||||
| AT1 Securities | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Proceeds from issuing other equity instruments | 0 | 142,000,000 | 27,000,000 | ||||||||||
| Payments of other equity instruments | 0 | $ 0 | $ 24,000,000 | ||||||||||
| Additional paid in capital | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Increase (decrease) through capitalization | $ (4,200,000,000) | ||||||||||||
| Capital reduction | [1] | 4,579,000,000 | |||||||||||
| Share capital | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Increase (decrease) through capitalization | $ 4,200,000,000 | ||||||||||||
| Retained earnings | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Capital reduction | $ 4,600,000,000 | $ (4,579,000,000) | [1] | ||||||||||
| Issued capital and additional paid-in capital | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Capital reduction | $ (4,600,000,000) | ||||||||||||
| Initial public offering (IPO) | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Share issue related cost | $ 8,500,000 | ||||||||||||
| Ordinary shares | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Number of votes | vote | 1 | ||||||||||||
| Amount distributed to shareholders | $ 10,000,000.0 | $ 10,000,000.0 | |||||||||||
| Increase through issuance of equity (in shares) | shares | 12,211,338 | 1,277,664 | |||||||||||
| Nominal value (in USD per share) | $ / shares | $ 0.00010 | ||||||||||||
| Number of options granted (in shares) | shares | 299,572 | ||||||||||||
| Redesignation | shares | |||||||||||||
| Ordinary shares | Restricted share units | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Number of options granted (in shares) | shares | 2,563,600 | ||||||||||||
| Ordinary shares | Employee Equity Program | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Number of options granted (in shares) | shares | 1,948,166 | ||||||||||||
| Ordinary shares | Warrants | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Number of options exercised (in shares) | shares | 2,400,000 | ||||||||||||
| Ordinary shares | Initial public offering (IPO) | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Increase through issuance of equity (in shares) | shares | 5,000,000 | ||||||||||||
| Class B shares | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Number of votes | vote | 10 | ||||||||||||
| Class B to deferred shares automatic conversion , period | 20 years | ||||||||||||
| Increase through issuance of equity (in shares) | shares | 369,911,294 | 369,911,294 | 0 | ||||||||||
| Nominal value (in USD per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.00010 | ||||||||||
| Redesignation | shares | 41,774,705 | (41,774,705) | |||||||||||
| Class C shares | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Amount distributed to shareholders | $ 5,000,000.0 | $ 5,000,000.0 | |||||||||||
| Increase through issuance of equity (in shares) | shares | 0 | 0 | |||||||||||
| Nominal value (in USD per share) | $ / shares | $ 0.00010 | ||||||||||||
| Redesignation | shares | |||||||||||||
| Deferred shares | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Increase through issuance of equity (in shares) | shares | 365,445,384 | 148,812 | |||||||||||
| Nominal value (in USD per share) | $ / shares | $ 0.0007333 | ||||||||||||
| Deferred shares, type 2 | |||||||||||||
| Disclosure of classes of share capital [line items] | |||||||||||||
| Increase through issuance of equity (in shares) | shares | 369,911,294 | 369,911,294 | 0 | ||||||||||
| Nominal value (in USD per share) | $ / shares | $ 11.35013 | $ 11.35013 | |||||||||||
| Redesignation | shares | |||||||||||||
| |||||||||||||
Share-based payments - Schedule of share-based payment expense recognized in profit or loss (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of terms and conditions of share-based payment arrangement [abstract] | |||
| Employee restricted share unit program | $ (75) | $ (40) | $ (18) |
| Business acquisition-related awards | 0 | (2) | (4) |
| Share warrants and share options | (72) | (45) | (22) |
| Direct share issuance | (10) | (7) | 0 |
| Share-based payment costs | (157) | (94) | (44) |
| Amount recognized as reduction of revenue | 1 | 1 | 1 |
| Share-based payments expense | $ (156) | $ (93) | $ (43) |
Share-based payments - Schedule of number and weighted average exercise prices of other equity instruments (Details) |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
shares
$ / shares
|
Dec. 31, 2024
shares
$ / shares
|
Dec. 31, 2023
shares
$ / shares
|
|
| Ordinary shares | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Granted during the year (in shares) | 299,572 | ||
| Number of shares entitled (in shares) | 1 | ||
| Ordinary shares | Chief Executive Officer | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Amended during the year (in shares) | (1,470,618) | ||
| Share options, class C | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Number of shares entitled (in shares) | 2 | ||
| Share options, class C | Chief Executive Officer | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Granted during the year (in shares) | 17,505,672 | ||
| Amended during the year (in shares) | (2,941,236) | ||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 91.8 | ||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | $ 91.8 | ||
| Restricted share units | |||
| Reconciliation of Other Equity Instruments [Roll Forward] | |||
| Number of other equity instruments outstanding at beginning of period (in shares) | 0 | 0 | 0 |
| Granted during the year (in shares) | 1,026,951 | 0 | 0 |
| Exercised during the year (in shares) | 0 | 0 | 0 |
| Amended during the year (in shares) | 0 | ||
| Forfeited during the year (in shares) | (28,044) | 0 | 0 |
| Number of other equity instruments outstanding at end of period (in shares) | 998,907 | 0 | 0 |
| Weighted average fair value, outstanding at beginning of period (in us dollar per share) | $ / shares | $ 0 | $ 0 | $ 0 |
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | 34.2 | 0 | 0 |
| Weighted average fair value, exercised during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | 0 | ||
| Weighted average fair value, forfeited during period (in us dollar per share) | $ / shares | 34.0 | 0 | 0 |
| Weighted average fair value, outstanding at end of period (in us dollar per share) | $ / shares | $ 34.2 | $ 0 | $ 0 |
| Number of other equity instruments outstanding at end of period, equivalent of Klarna Group plc Shares (in shares) | 3,649,304 | ||
| Weighted average fair value, outstanding at end of period, equivalent of Klarna Group plc Shares (in us dollar per share) | $ / shares | $ 20.4 | ||
| Restricted share units | Ordinary shares | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Granted during the year (in shares) | 2,563,600 | ||
| Restricted share units | Klarna Group PLC subsidiary | |||
| Reconciliation of Other Equity Instruments [Roll Forward] | |||
| Number of other equity instruments outstanding at beginning of period (in shares) | 26,411,646 | 10,208,104 | 7,988,295 |
| Granted during the year (in shares) | 123,335 | 22,659,832 | 7,081,803 |
| Released during the year (in shares) | (8,225,629) | (3,164,977) | (2,411,162) |
| Exercised during the year (in shares) | 0 | 0 | 0 |
| Repurchased during the year (in shares) | 0 | ||
| Amended during the year (in shares) | 0 | ||
| Forfeited during the year (in shares) | (3,712,137) | (3,291,313) | (2,450,832) |
| Number of other equity instruments outstanding at end of period (in shares) | 14,597,215 | 26,411,646 | 10,208,104 |
| Weighted average fair value, outstanding at beginning of period (in us dollar per share) | $ / shares | $ 4.5 | $ 4.9 | $ 6.0 |
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | 10.1 | 4.4 | 4.2 |
| Weighted average fair value, released during period (in us dollar per share) | $ / shares | 5.3 | 5.3 | 6.3 |
| Weighted average fair value, exercised during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average fair value, repurchased during period (in us dollar per share) | $ / shares | 0 | ||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | 0 | ||
| Weighted average fair value, forfeited during period (in us dollar per share) | $ / shares | 5.0 | 4.7 | 5.1 |
| Weighted average fair value, outstanding at end of period (in us dollar per share) | $ / shares | $ 5.1 | $ 4.5 | $ 4.9 |
| Share warrants and share options | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Number of options outstanding at beginning of period (in shares) | 6,100,140 | 0 | 0 |
| Granted during the year (in shares) | 24,909,751 | 6,100,140 | 0 |
| Exercised during the year (in shares) | (2,400,000) | 0 | 0 |
| Amended during the year (in shares) | (1,477,164) | ||
| Forfeited during the year (in shares) | 0 | 0 | 0 |
| Number of options outstanding at end of period (in shares) | 27,132,727 | 6,100,140 | 0 |
| Weighted average exercise price outstanding, beginning balance (in us dollar per share) | $ / shares | $ 46.0 | $ 0 | $ 0 |
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | 57.0 | 46.0 | 0 |
| Weighted average fair value, exercised during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | 38.2 | ||
| Weighted average fair value, forfeited during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average exercise price outstanding, ending balance (in us dollar per share) | $ / shares | $ 60.6 | $ 46.0 | $ 0 |
| Share warrants and share options | Ordinary shares | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Number of shares received per two Class C award vested (in shares) | 1 | ||
| Share warrants and share options | Share options, class C | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Number of shares received per two Class C award vested (in shares) | 2 | ||
| Share options, class C | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Number of options outstanding at beginning of period (in shares) | 0 | 0 | 0 |
| Granted during the year (in shares) | 17,505,672 | 0 | 0 |
| Exercised during the year (in shares) | 0 | 0 | 0 |
| Amended during the year (in shares) | 2,941,236 | ||
| Forfeited during the year (in shares) | 0 | 0 | 0 |
| Number of options outstanding at end of period (in shares) | 20,446,908 | 0 | 0 |
| Weighted average exercise price outstanding, beginning balance (in us dollar per share) | $ / shares | $ 0 | $ 0 | $ 0 |
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | 45.9 | 0 | 0 |
| Weighted average fair value, exercised during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | 19.1 | ||
| Weighted average fair value, forfeited during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average exercise price outstanding, ending balance (in us dollar per share) | $ / shares | $ 42.0 | $ 0 | $ 0 |
| Warrants | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Repurchased during the year (in shares) | (1,267,752) | ||
| Number of share options outstanding at end of period, equivalent of Klarna Group plc Shares (in shares) | 26,730,252 | ||
| Weighted average fair value, outstanding at end of period, equivalent of Klarna Group plc Shares (in us dollar per share) | $ / shares | $ 50.4 | ||
| Warrants | Ordinary shares | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Exercised during the year (in shares) | (2,400,000) | ||
| Warrants | Klarna Group PLC subsidiary | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Number of options outstanding at beginning of period (in shares) | 2,507,534 | 2,552,243 | 1,933,083 |
| Granted during the year (in shares) | 0 | 360,590 | 1,102,024 |
| Released during the year (in shares) | 0 | 0 | 0 |
| Exercised during the year (in shares) | (90,000) | (126,580) | (65,346) |
| Repurchased during the year (in shares) | (105,646) | ||
| Amended during the year (in shares) | 0 | ||
| Forfeited during the year (in shares) | (84,367) | (278,719) | (417,518) |
| Number of options outstanding at end of period (in shares) | 2,227,521 | 2,507,534 | 2,552,243 |
| Weighted average exercise price outstanding, beginning balance (in us dollar per share) | $ / shares | $ 543.0 | $ 538.0 | $ 515.0 |
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | 0 | 515.0 | 578.0 |
| Weighted average fair value, released during period (in us dollar per share) | $ / shares | 0 | 0 | 0 |
| Weighted average fair value, exercised during period (in us dollar per share) | $ / shares | 231.0 | 162.0 | 76.0 |
| Weighted average fair value, repurchased during period (in us dollar per share) | $ / shares | 441.0 | ||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | 0 | ||
| Weighted average fair value, forfeited during period (in us dollar per share) | $ / shares | 631.0 | 505.0 | 226.0 |
| Weighted average exercise price outstanding, ending balance (in us dollar per share) | $ / shares | $ 605.0 | $ 543.0 | $ 538.0 |
| Share options | Chief Executive Officer | |||
| Reconciliation of Share Options [Roll Forward] | |||
| Amended during the year (in shares) | (1,477,164) | ||
Share-based payments - Additional Information (Details) |
1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Apr. 30, 2025
shares
|
May 31, 2024
USD ($)
shares
|
Jun. 30, 2025
USD ($)
|
Dec. 31, 2025
USD ($)
shares
program
$ / shares
|
Dec. 31, 2024
USD ($)
shares
$ / shares
|
Dec. 31, 2023
USD ($)
shares
$ / shares
|
Dec. 31, 2020
shares
|
Sep. 10, 2025
$ / shares
|
Mar. 31, 2025
USD ($)
|
Dec. 31, 2022
shares
|
|
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payment, social security expense | $ | $ (9,000,000) | $ (13,000,000) | $ (300,000) | |||||||
| Share-based payment, excluding social security expense | $ | $ 148,000,000 | 81,000,000 | 44,000,000 | |||||||
| Share-based payment arrangements, vesting period | 4 years | |||||||||
| Share-based payments expense | $ | $ 156,000,000 | 93,000,000 | $ 43,000,000 | |||||||
| Expected dividend, share options granted | $ | 0 | |||||||||
| Commercial agreement | Sales and marketing expenses | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Fair value of shares from share-based payment transactions | $ | 233,000,000 | $ 17,900,000 | ||||||||
| Commercial agreement | Sales and marketing expenses | Consumer acquisition services | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Fair value of shares from share-based payment transactions | $ | 50,000,000 | |||||||||
| Commercial agreement | Sales and marketing expenses | Brand awareness services | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Fair value of shares from share-based payment transactions | $ | $ 183,000,000 | |||||||||
| Management | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options granted (in shares) | 8,834,736 | 400,065 | ||||||||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 104 | |||||||||
| Number of other equity instruments granted (in shares) | 108,960 | 216,468 | ||||||||
| Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of shares entitled (in shares) | 1 | |||||||||
| Number of options granted (in shares) | 299,572 | |||||||||
| IPO, offering share (USD per share) | $ / shares | $ 40.00 | $ 40.00 | ||||||||
| Ordinary shares | Chief Executive Officer | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Amended during the year (in shares) | 1,470,618 | |||||||||
| Share options, class C | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of shares entitled (in shares) | 2 | |||||||||
| Share options, class C | Chief Executive Officer | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options granted (in shares) | 17,505,672 | |||||||||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 91.8 | |||||||||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | $ 91.8 | |||||||||
| Amended during the year (in shares) | 2,941,236 | |||||||||
| Restricted share units | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of share-based payment arrangements programs | program | 2 | |||||||||
| Share-based payment arrangements, vesting period | 4 years | |||||||||
| Number of other equity instruments granted (in shares) | 1,026,951 | 0 | 0 | |||||||
| Number of other equity instruments outstanding in share-based payment arrangement | 998,907 | 0 | 0 | 0 | ||||||
| Restricted share units | Klarna Group PLC subsidiary | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of other equity instruments granted (in shares) | 123,335 | 22,659,832 | 7,081,803 | |||||||
| Number of other equity instruments released (in shares) | 8,225,629 | 3,164,977 | 2,411,162 | |||||||
| Number of other equity instruments outstanding in share-based payment arrangement | 14,597,215 | 26,411,646 | 10,208,104 | 7,988,295 | ||||||
| Restricted share units | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options granted (in shares) | 2,563,600 | |||||||||
| Legacy RSU Program | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payment arrangements, vesting period | 4 years | |||||||||
| Share-based payment arrangements, vesting percentage | 25.00% | |||||||||
| Share exchange ratio | 0.25 | 0.25 | 0.24 | |||||||
| Legacy RSU Program | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of shares received per award vested (in shares) | 1 | |||||||||
| Klarna Group PLC RSU | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payment arrangements, vesting period | 4 years | |||||||||
| Share-based payment arrangements, vesting percentage | 25.00% | |||||||||
| Klarna Group PLC RSU | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of shares received per award vested (in shares) | 1 | |||||||||
| Share warrants and share options | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share exchange ratio | 12 | 12 | 12 | |||||||
| Number of options granted (in shares) | 24,909,751 | 6,100,140 | 0 | |||||||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 57.0 | $ 46.0 | $ 0 | |||||||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | $ 38.2 | |||||||||
| Amended during the year (in shares) | 1,477,164 | |||||||||
| Number of options exercised (in shares) | 2,400,000 | 0 | 0 | |||||||
| Share warrants and share options | Minimum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payment arrangements, vesting period | 4 years | |||||||||
| Share warrants and share options | Maximum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payment arrangements, vesting period | 5 years | |||||||||
| Share warrants and share options | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of shares received per award vested (in shares) | 1 | |||||||||
| KHAB Warrants | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of share options repurchased and not vested in share-ased payment arrangement (in shares) | 6,456 | |||||||||
| KHAB Warrants | Sales and marketing expenses | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payments expense | $ | $ 100,000 | |||||||||
| Warrants | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options repurchased (in shares) | 1,267,752 | |||||||||
| Share repurchase, amount | $ | $ 17,200,000 | |||||||||
| Weighted average remaining contractual life | 4 years 2 months 12 days | 3 years | ||||||||
| Number of share options exercisable (in shares) | 2,145,590 | 1,299,360 | ||||||||
| Warrants | Minimum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 34 | $ 34 | ||||||||
| Warrants | Maximum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 51 | $ 51 | ||||||||
| Warrants | Commercial agreement | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of other equity instruments granted (in shares) | 15,740,059 | 1,299,360 | ||||||||
| Number of options vested (in shares) | 3,910,393 | |||||||||
| Number of options exercised (in shares) | 2,400,000 | |||||||||
| Share-based payment arrangement, requisite service period | 5 years | |||||||||
| Share-based payments expense | $ | $ 27,000,000 | |||||||||
| Deferred expense to be recognized from share-ased payment transactions | $ | $ 75,000,000 | |||||||||
| Current tax liabilities | $ | $ 48,000,000 | |||||||||
| Decrease in current tax liability | $ | $ 22,000,000 | |||||||||
| Warrants | Management | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options repurchased (in shares) | 17,500 | |||||||||
| Warrants | Employee | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Employee restricted share unit program | $ | $ 0 | |||||||||
| Warrants | Klarna Group PLC subsidiary | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options granted (in shares) | 0 | 360,590 | 1,102,024 | |||||||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 0 | $ 515.0 | $ 578.0 | |||||||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | $ 0 | |||||||||
| Amended during the year (in shares) | 0 | |||||||||
| Number of options exercised (in shares) | 90,000 | 126,580 | 65,346 | |||||||
| Number of options repurchased (in shares) | 105,646 | |||||||||
| Weighted average remaining contractual life | 1 year 10 months 24 days | 2 years 8 months 12 days | 3 years 6 months | |||||||
| Number of share options exercisable (in shares) | 0 | 40,000 | 51,500 | |||||||
| Weighted average fair value at measurement date, share options granted | $ | $ 17 | $ 16 | ||||||||
| Warrants | Klarna Group PLC subsidiary | Minimum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 | |||||||
| Warrants | Klarna Group PLC subsidiary | Maximum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 1,508 | $ 1,508 | $ 1,508 | |||||||
| Warrants | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options exercised (in shares) | 2,400,000 | |||||||||
| Warrants | Ordinary shares | Commercial agreement | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of shares received per award vested (in shares) | 1 | 1 | ||||||||
| Share options | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payment arrangements, vesting period | 4 years | |||||||||
| Weighted average remaining contractual life | 3 years 4 months 24 days | 3 years 7 months 6 days | ||||||||
| Number of share options exercisable (in shares) | 2,935,177 | 1,460,856 | ||||||||
| Weighted average fair value at measurement date, share options granted | $ | $ 53 | $ 9 | ||||||||
| Share options | Minimum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 38 | $ 38 | ||||||||
| Share options | Maximum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 114 | $ 114 | ||||||||
| Share options | Chief Executive Officer | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Amended during the year (in shares) | 1,477,164 | |||||||||
| Share options, class C | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options granted (in shares) | 17,505,672 | 0 | 0 | |||||||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 45.9 | $ 0 | $ 0 | |||||||
| Weighted average fair value, amended during period (in us dollar per share) | $ / shares | $ 19.1 | |||||||||
| Amended during the year (in shares) | (2,941,236) | |||||||||
| Number of options exercised (in shares) | 0 | 0 | 0 | |||||||
| Weighted average remaining contractual life | 3 years 8 months 12 days | |||||||||
| Number of share options exercisable (in shares) | 9,523,581 | 0 | ||||||||
| Weighted average fair value at measurement date, share options granted | $ | $ 29 | |||||||||
| Share options, class C | Minimum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 19 | |||||||||
| Share options, class C | Maximum | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Range of exercise prices (USD per share) | $ / shares | $ 57 | |||||||||
| Equity-related instruments, business acquisition | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of other equity instruments released (in shares) | 329,484 | |||||||||
| Weighted average fair value at measurement date, other equity instruments granted (in USD per share) | $ | $ 51 | |||||||||
| Number of other equity instruments outstanding in share-based payment arrangement | 0 | |||||||||
| Employee Equity Program | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Share-based payments expense | $ | $ 0 | |||||||||
| Number of ordinary shares held (in shares) | 28,762 | |||||||||
| Number of ordinary shares exchanged (in shares) | 1,948,166 | |||||||||
| Employee Equity Program | Klarna Holding AB | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of ordinary shares held (in shares) | 28,762 | 31,122 | ||||||||
| Number of ordinary shares exchanged (in shares) | 2,347 | 10,693 | ||||||||
| Employee Equity Program | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of options granted (in shares) | 1,948,166 | |||||||||
| Direct Share Issuance | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Number of other equity instruments granted (in shares) | 150,760 | 216,468 | ||||||||
| Direct Share Issuance | Ordinary shares | ||||||||||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
| Weighted average fair value at measurement date, other equity instruments granted (in USD per share) | $ | $ 34 | $ 34 | ||||||||
Share-based payments - Schedule of indirect measurement of fair value of goods or services received, other equity instruments granted during period (Details) - Share warrants and share options |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
shares
$ / shares
|
Dec. 31, 2024
shares
$ / shares
|
Dec. 31, 2023
shares
$ / shares
|
|
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
| Expected volatility (%) | 37.00% | ||
| Weighted average share price for instruments issued (in USD) | $ / shares | $ 40 | $ 34 | |
| Minimum | |||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
| Expected volatility (%) | 37.00% | 35.00% | |
| Risk-free interest rate (%) | 3.60% | 2.00% | 2.60% |
| Expected term (years) | shares | 4.5 | 2.9 | 2.8 |
| Maximum | |||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
| Expected volatility (%) | 38.00% | 37.00% | |
| Risk-free interest rate (%) | 4.40% | 2.80% | 3.30% |
| Expected term (years) | shares | 5.5 | 4.5 | 5.3 |
| Klarna Group PLC subsidiary | |||
| Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
| Weighted average share price for instruments issued (in USD) | $ / shares | $ 337 | $ 216 | |
Information on related parties - Additional Information (Details) $ / shares in Units, $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
shares
$ / shares
|
Dec. 31, 2024
USD ($)
shares
$ / shares
|
Dec. 31, 2023
USD ($)
shares
$ / shares
|
Sep. 10, 2025
$ / shares
|
|
| Disclosure of transactions between related parties [line items] | ||||
| Key management personnel compensation | $ | $ 99.0 | $ 65.0 | $ 14.0 | |
| Share-based payment arrangements, vesting period | 4 years | |||
| Share warrants and share options | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of options granted (in shares) | 24,909,751 | 6,100,140 | 0 | |
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 57.0 | $ 46.0 | $ 0 | |
| Number of share options amended (in shares) | 1,477,164 | |||
| Share options | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Share-based payment arrangements, vesting period | 4 years | |||
| Warrants | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of options repurchased (in shares) | 1,267,752 | |||
| Share options, class C | Share warrants and share options | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of shares received per two Class C award vested (in shares) | 2 | |||
| Ordinary shares | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of options granted (in shares) | 299,572 | |||
| IPO, offering share (USD per share) | $ / shares | $ 40.00 | $ 40.00 | ||
| Ordinary shares | Share warrants and share options | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of shares received per two Class C award vested (in shares) | 1 | |||
| Management | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of other equity instruments granted (in shares) | 108,960 | 216,468 | ||
| Number of options granted (in shares) | 8,834,736 | 400,065 | ||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 104 | |||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 104 | |||
| Management | Warrants | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of options repurchased (in shares) | 17,500 | |||
| Chief Executive Officer | Share options | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of share options amended (in shares) | 1,477,164 | |||
| Chief Executive Officer | Share options, class C | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of options granted (in shares) | 17,505,672 | |||
| Weighted average fair value, granted during period (in us dollar per share) | $ / shares | $ 91.8 | |||
| Number of share options amended (in shares) | 2,941,236 | |||
| Chief Executive Officer | Ordinary shares | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Number of share options amended (in shares) | 1,470,618 | |||
| Milkywire AB | Sustainability-related services | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Services received, related party transactions | $ | $ 0.9 | $ 0.7 | $ 0.9 | |
| Milkywire AB | Carbon credit purchases | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Services received, related party transactions | $ | 0.5 | 1.0 | ||
| WRLD foundation | ||||
| Disclosure of transactions between related parties [line items] | ||||
| Donations and subsidies expense | $ | $ 2.3 | $ 3.8 | $ 5.5 | |
Information on related parties - Summary of compensation to the board of directors and senior management (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disclosure of transactions between related parties [abstract] | |||
| Basic salary/fee | $ 13 | $ 13 | $ 10 |
| Fixed equity-based compensation | 36 | 32 | 0 |
| Variable equity-based compensation | 48 | 18 | 1 |
| Other variable-based compensation | 1 | 1 | 2 |
| Other benefits | 1 | 1 | 0 |
| Pension expenses | 1 | 1 | 1 |
| Total | $ 99 | $ 65 | $ 14 |
Income taxes - Disclosure of income tax, effective tax and deferred taxes (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Current tax | |||
| Tax expense for the year | $ (25) | $ (20) | $ (16) |
| Adjustment of tax attributable to previous years | (1) | 0 | 3 |
| Total | (26) | (20) | (13) |
| Deferred tax | |||
| Deferred tax | (6) | 8 | 73 |
| Income tax (expense) benefit | (32) | (12) | 60 |
| Effective tax rate | |||
| Profit (loss) before taxes | (241) | 33 | (304) |
| Income tax calculated in accordance with national tax rates applicable in each country | (21) | (7) | 60 |
| Non-taxable revenues | 27 | 3 | 2 |
| Non-deductible expenses | (15) | (37) | (39) |
| Taxable income not booked in profit or loss | (6) | (2) | (7) |
| Deductible expenses not booked in profit or loss | 7 | 11 | 4 |
| Unrecognized taxable losses | (26) | 12 | (34) |
| Effect of change in tax rate | 1 | 2 | 0 |
| Losses carried forward recognized | 5 | 6 | 72 |
| Adjustments of tax attributable to previous years | (4) | 0 | 2 |
| Income tax (expense) benefit | $ (32) | $ (12) | $ 60 |
| Effective tax rate | 13.40% | (36.70%) | (19.70%) |
Income taxes - Disclosure of deferred tax assets and liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
| Deferred tax assets | $ 36 | $ 33 |
| Deferred tax liability | (2) | (1) |
| Total | 34 | 32 |
| Losses carried forward | ||
| Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
| Total | 71 | 55 |
| Allowance for credit losses | ||
| Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
| Total | 12 | 19 |
| Intangible assets | ||
| Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
| Total | (78) | (57) |
| Other | ||
| Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
| Total | $ 30 | $ 15 |
Income taxes - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Major components of tax expense (income) [abstract] | |||
| Deferred tax expense (benefit) | $ 6 | $ (8) | $ (73) |
| Losses carried forward recognized | 5 | 6 | $ 72 |
| Unused tax losses for which no deferred tax asset recognised | 2,100 | 1,400 | |
| Deductible temporary differences for which no deferred tax asset is recognised | $ 163 | $ 0 | |
Net profit (loss) per share (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Earnings per share [abstract] | |||
| Net profit (loss) attributable to shareholders of Klarna Group plc | $ (294) | $ 3 | $ (249) |
| Weighted average number of ordinary shares - basic (in shares) | 370,654,083 | 363,993,690 | 362,090,644 |
| Dilutive potential ordinary shares (in shares) | 0 | 418,379 | 0 |
| Weighted average number of ordinary shares - diluted (in shares) | 370,654,083 | 364,412,068 | 362,090,644 |
| Net profit (loss) per share attributable to shareholders of Klarna Group plc, basic (in USD per share) | $ (0.79) | $ 0.01 | $ (0.69) |
| Net profit (loss) per share attributable to shareholders of Klarna Group plc, diluted (in USD per share) | $ (0.79) | $ 0.01 | $ (0.69) |