Qliro (QLIRO) investor relations material

Executive summary

• Achieved 37% year-over-year TPV growth in Q2, accelerating to 45% in July, outpacing a declining Swedish e-commerce market and driven by SME and Nordic expansion momentum.

• SME segment contributed 13% of operating income in Q2, up from 3% last year, with a 165% increase in active merchants and over 30% of new volumes from SME.

• Nordic expansion exceeded expectations, signing over SEK 1.3 billion in new merchant volume in Norway and Finland, with Norway more than doubling quarter-over-quarter.

• Oversubscribed rights issue raised SEK 117 million, with a 324% subscription rate, strengthening capital for growth.

• Launched Checkout Gen 3 and new BNPL products, driving new sales records and improved merchant adoption.

Financial highlights

• Q2 TPV reached SEK 4,138 million, up 37% year-over-year; operating income was SEK 96.5 million, down 5% due to one-off items.

• Operating loss for Q2 was SEK -29.5 million, impacted by higher costs and investments; credit losses were SEK 27.7 million, including a SEK 5.4 million write-down.

• Gross margin (GM1) decreased to 15.3% from 17.4% year-over-year.

• Operating expenses increased 28% in Q2 to SEK 98.3 million, mainly due to growth and expansion investments.

• EPS for Q2 was SEK -1.22 (vs. SEK 0.18 last year).

Outlook and guidance

• Updated guidance targets around 15% income growth in Q4, with further acceleration expected in 2026 as volumes convert to income.

• Anticipates over 40% TPV growth from new merchants and SME/enterprise sales.

• Focus remains on improving income generation, scalability, and efficiency.