Qliro revenue rises 21% as profitability extends to third consecutive quarter
Key Facts
Qliro reported a third consecutive quarter of profitability in its results for the third quarter of 2026, with net revenue rising 21% to 120.2 million Swedish kronor. Operating profit was 0.2 million kronor, compared with an operating loss of 42.8 million kronor in the corresponding period of 2025, according to a company statement. On the bottom line, the company also posted a profit for the period of 0.2 million kronor, compared with a loss of 34.5 million kronor a year earlier. Earnings per share, however, remained negative at -0.06 kronor, compared with -1.34 kronor in the third quarter of the previous year, despite the return to profit for the period. The results thus combined continued profitability at the company level with a narrower loss per share, while operating profit remained below the previous quarter's level.
Net revenue grew from 99.2 million kronor in the third quarter of 2025, according to Qliro's financial disclosure. Total payment volume through the platform rose 18% year on year to 5,150 million kronor from 4,379 million kronor in the corresponding period. Revenue growth outpaced payment volume growth during the quarter, while the pace of payment volume expansion slowed compared with the second quarter. In the second quarter of 2026, the company reported year-on-year payment volume growth of 28%, reaching 5,302 million kronor from 4,138 million kronor a year earlier. Third-quarter payment volume also declined from the second-quarter level, while continuing to grow compared with the same period of the previous year.
The company attributed a significant part of the expansion in its payments business to the small and medium-sized business segment, which Chief Executive Christoffer Rutgersson described as its most profitable. Rutgersson said the segment contributed "more than half of payment volume growth", gradually supporting the stability and profitability of the merchant base. The platform's merchant base expanded 90% to 867 merchants, compared with 456 a year earlier, according to the company's report. On distribution channels, Qliro said its exclusive partnership with PPRO provides access to global merchants selling to consumers in Nordic markets. The company described the collaboration as "a new growth driver connecting it with global merchants selling to consumers in Nordic markets", expanding distribution channels for its buy now, pay later services.
Alongside higher payment volumes and growth in the loan portfolio, credit losses as a share of total payments fell to 0.52%, compared with 0.61% in the third quarter of 2025. The report showed a 37% year-on-year increase in the profit measure calculated by deducting credit losses and variable operating expenses from net revenue. This measure reached 82.4 million kronor in the third quarter of 2026, compared with 60.1 million kronor in the corresponding period. Its growth outpaced net revenue growth, alongside a decline in the credit loss ratio used in its calculation. Adjusted operating expenses also fell 2% to 93.4 million kronor, with the comparative adjustments related to organizational changes in the corresponding quarter, according to the company.
The results extended the return to profitability seen in the second-quarter disclosure for 2026, when Qliro announced a second consecutive quarter of profit. Operating profit at that time was 0.7 million kronor, compared with an operating loss of 29.5 million kronor in the second quarter of 2025. The operating result thus remained positive in the third quarter, but declined from the previous quarter despite the year-on-year improvement. In the commercial backdrop, Investing.com reported in its coverage of the second-quarter results that several major agreements with corporate clients had been postponed until after the summer. The coverage added that the pipeline of business opportunities under negotiation remained strong despite those delays.
On financial management, Qliro announced the appointment of Hans Waddell as chief financial officer. He is scheduled to take up his duties on 3 November 2026, according to the appointment announcement. He will succeed Christoffer Zetterquist. The company subsequently set 10 February 2027 in its financial calendar as the date for releasing its year-end results report. The report will cover the period from January to December 2026.