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polarbear666

4,178 Posts.

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30/11/20

07:16

Post #: 49225622
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Originally posted by StefanF: ↑

Hi Andredamus, I noticed you mentioned Klarna is doing wonderfully well, but you didn't actually specify why so I thought I'd add to your post some of Klarna's achievements (from the report):

- 160% YoY growth in global app downloads and 13 million monthly active app users by the end of Sep 2020. In October alone one million new monthly active users joined, reaching 14 million in total.

-Net credit losses decreased for the second consecutive quarter and was 28% lower than same time last year. The improved credit behaviour is especially driven by the US market.

-Total net operating income growth of 37% to USD 742m.

US specific

-1.7m monthly active app users, swelling to 2 million by end of October.

-10 million total consumers by end of Sep 2020, and 11 million by the end of October.

-App was 64% of all pay later app downloads in the US during September, dominating the charts and the #1 shopping app in the US App store.

-Rapid growth in app downloads continues, in November averaging 50,000 new daily downloads, three times more than nearest direct competitors.

Some more notes from me (some have been pointed out in the past):

-Credit losses of Klarna are not directly comparable to pure BNPL players due to Klarna being an Authorised Deposit-taking Institution, and them reporting and provisioning for credit losses differently.

-On a more comparable basis, credit losses only account for 0.6% of the $24.9bn total sales made through the Klarna platform between January and June.

-Similar to Afterpay, without the costs to expansion they'd be profitable.

Expand

WRONG; It's not even close to Afterpay right now on charts... it's even getting spanked in uk.... fake news... they are losing money because most of their customers are defunct and inactive and they use Ghost card feature which only gives revenue on late fees

Last edited by polarbear666: 30/11/20

APT Price at posting: $94.70 Sentiment: Buy Disclosure: Held
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