Klarna Stock: Bargain or Value Trap?

Klarna, a fintech company offering term loans to consumers, has seen its shares lose 24% of their value since its IPO. The company's core business is BNPL, with services like "Pay in 4" and longer-term payback schemes. Klarna notched a new all-time high for quarterly revenue in Q3 2025, with a 28% YoY increase. The company is concentrating on the US consumer market, with GMV in the US alone increasing 43%. Klarna has also been expanding its services, including becoming a "digital bank" and announcing its own cryptocurrency, KlarnaUSD.