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Qliro (QLIRO) investor relations material
Qliro Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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.
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