What the numbers say: Klarna's quarterly GMV has fluctuated in the last three years. However, the metric has also seen consistent YoY increases in the first quarter of each year. The company reported a GMV of 210.7B Swedish Krona in Q1 2023, up from 187B Krona in Q1 2022. Relevance: GMV measures the total value of the products sold through Klarna's online platform. The company extracts commissions and merchants' fees from the products sold via its platform to build its revenue stream. Klarna's GMV in Q1 2023 grew 13% YoY despite the global e-commerce market shrinking 2% between Q1 2022 and Q1 2023, according to the company's investor note. Statista predicted that global e-commerce revenue would shrink 2.5% YoY in 2022. Where to see the impact: Klarna's resilience in the face of a difficult e-commerce environment may indicate the start of a turnaround for the company after an $800M funding round in 2022 slashed its valuation from $45.6B to under $7B. |
