Qliro Ab · OMXSTO:QLIRO
Qliro Ab — Q1 2026 Earnings Presentation
25 slides from Qliro Ab's earnings presentation, May 6, 2026
Slide 1: Q1 2026 Presentation
Q1 2026 PRESENTATION 6 MAY 2026 Qliro 1
Slide 2: Today's Presenter
TODAY’S PRESENTER CHRISTOFFER RUTGERSSON CEO Qliro 2
Slide 3: Agenda
AGENDA • STRATEGIC HIGHLIGHTS • FINANCIAL UPDATE • OUTLOOK • Q&A Qliro
Slide 4: Strategic Highlights
STRATEGIC HIGHLIGHTS Qliro 4
Slide 5: Strategic Highlights
2026-05-05 5 STRATEGIC HIGHLIGHTS OPPORTUNITY TO BUILD A NEW EU LEADER IN COMPOSABLE PAYMENTS 1 DELIVERING A WORLD-LEADING EXPERIENCE FOR MERCHANTS, AND THEIR CUSTOMER JOURNEY 2 QLIRO IS BACK TO PROFITABILITY IN Q1 3 +38% TPV GROWTH, AND BNPL VOLUME ACCELERATE TO +41% GROWTH 4 NET REVENUE GROWTH ACC
Slide 6: Our Vision: Building an EU Leader in Composable Payments
1 OUR VISION BUILDING AN EU LEADER IN COMPOSABLE PAYMENTS, STARTING IN THE NORDICS, WITH GLOBAL CAPABILITIES DELIVER A WORLD-LEADING EXPERIENCE OUR MISSION FOR MERCHANTS AND THEIR CUSTOMERS’ JOURNEY OUR AMBITION AMBITION TO BECOME LOCAL MARKET LEADER IN THE NORDICS WITHIN 3-5 YEARS 6
Slide 7: Back to Profitability in Q1, in Line with Guidance
IN QLIROTPV 2 SIGNED IS BACK TO PROFITABILITY IN Q1, IN LINE WITH PREVIOUS GUIDANCE KEY TAKEAWAYS ADJ. OPERATING PROFIT, MSEK • Profitability target for Q1 2026 was set in Q4 2025. International expansion and growth phase • New BNPL volumes continue to build the loan 0.3 0.1 0.2 book, with revenue g
Slide 8: Strong TPV Growth of +38% in Q1
IN 3 SIGNED TPV STRONG TPV GROWTH OF +38% IN Q1 CONTINUED KEY TAKEAWAYS TOTAL PAYMENTS VOLUME (TPV), BN SEK TPV AND BNPL VOLUME, GROWTH Y/Y • TPV grew by 38% to SEK 4,53 billion y/y, driven TPV growth by more merchants going live. +38% BNPL volume growth 6.1 • Continued strong contribution from SME.
Slide 9: Net Revenue Growth Accelerating to +19%
4 NET REVENUE GROWTH ACCELERATING TO +19% BUT STILL LAGGING BNPL VOLUME GROWTH KEY TAKEAWAYS NET REVENUE AND BNPL VOLUME GROWTH, Y/Y 41% • Net revenue growth of 19% y/y, improving from 14% growth in Q4-25 Net Revenue growth, % • Increase in contribution from both SME and BNPL volume growth, % Enterp
Slide 10: Accelerating Revenue Contribution from SME at 19% in Q1
45 ACCELERATING REVENUE CONTRIBUTION FROM SME AT 19% IN Q1 SECOND CONSECUTIVE QUARTER WITH >100 NEW MERCHANTS KEY TAKEAWAYS NUMBER OF ACTIVE MERCHANTS CONTRIBUTION TO NET REVENUE, MSEK § Double digit contributions to net revenue of 19% compared to 8% last year. +148%, Y/Y § Onboarding lead times hav
Slide 11: Continued Growth Momentum in the Nordics
6 CONTINUED GROWTH MOMENTUM IN THE NORDICS, +38% TPV GROWTH Y/Y KEY TAKEAWAYS SIGNED TPV OF >SEK 2 BILLION IN NEW MARKETS • Successful Nordic expansion with strong momentum across new markets. Headquarters 67% • Signed merchants in new Nordic countries with % of TPV a total payments volume exceeding
Slide 12: Strategic Highlights – Looking Ahead
2026-05-05 16 STRATEGIC HIGHLIGHTS – LOOKING AHEAD 1 MID TERM AMBITION TO BUILD A MARKET LEADING POSITION IN THE NORDICS 2 COMMERCIAL MOMENTUM TO CONTINUE TO DRIVE TPV GROWTH MOMENTUM 3 INCOME GROWTH EXPECTED TO CONTINUE TO ACCELERATE, LAGGING BNPL GROWTH 4 SME WILL CONTINUE TO GROW, WITH >30% OF GR
Slide 13: Financial Update
FINANCIAL UPDATE Qliro 17
Slide 14: Reaching Profitability in Line with Guidance
REACHING PROFITABILITY IN LINE WITH GUIDANCE KEY FINANCIAL HIGHLIGHTS Q1 SUMMARY (MSEK) • 38% y/y TPV growth is consistent with the full-year 2025 Q1 26 Q1 25 y/y change run-rate of 39%, confirming sustained volume growth TPV 4 533 3 289 38% • Operating income growth of +19% y/y accelerates from 14%
Slide 15: Loan Book Growth and Strengthening BNPL Share of Checkout
LOAN BOOK GROWTH OFF THE BACK OF CONTINUED STRENGTHENING BNPL SHARE OF CHECKOUT LOAN BOOK GROWTH Y/Y BNPL VOLUME AS SHARE OF TPV, % 8% 8% 24 7% 22 6% 6% 20 5% 5% 18 4% 3% 16,2% 15,8% 15,8% 16 15,1% 3% 14,1% 2% 14 1% 0% 0% Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Qliro 19
Slide 16: Net Revenues Growth Accelerates from Q4 2025
NET REVENUES GROWTH ACCELERATES FROM Q4 2025 COMMENTS NET REVENUES (MSEK) • Net revenue growth of +19% y/y +19% accelerates from 14% in Q4 2025 121 115 • Driven by increased BNPL share with solid contribution from both SME and Enterprise segments 101 99 96 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 SME
Slide 17: Adjusted Classification of Lending-Related Fees
ADJUSTED CLASSIFICATION OF LENDING-RELATED FEES KEY FINANCIAL HIGHLIGHTS Q1 SUMMARY (MSEK) • Qliro has adjusted the classification of certain Q1 26 Q1 25 y/y change lending-related fees and is now presenting Total interest income 119.8 111.3 +8% these under net interest income. Total interest expens
Slide 18: Credit Losses Decline Following Improvements in Underlying Credit Metrics
CREDIT LOSSES DECLINE FOLLOWING IMPROVEMENTS IN UNDERLYING CREDIT METRICS COMMENTS REPORTED ECL (MSEK) EXAMPLE: EXPORTS TO DEBT COLLECTION -7% Debt Collection export ratio* • Reported ECL continues to 26.6 improve despite +38% volume 24.8 growth and an expanding loan -19% book, reflecting significan
Slide 19: Disciplined Cost Control Supporting Scalable Growth
DISCIPLINED COST CONTROL SUPPORTING SCALABLE GROWTH COMMENTS OPERATING EXPENSE DEVELOPMENT, ADJUSTED FOR IAC (MSEK) +6% • Variable costs increased by 6% y/y 98 99 against TPV growth of 38%, 96 96 90 demonstrating strong scalability 21 21 21 and operating leverage 22 20 -6% • Fixed costs increased by
Slide 20: 32% Lower Capex Following H2 Restructuring Savings
32% LOWER CAPEX FOLLOWING H2 RESTRUCTURING SAVINGS COMMENTS CAPEX, ADJUSTED FOR IAC (MSEK) • Although approximately 75% of the restructuring saving flowed -32% through Capex, investment in 34 33 technology remains central to 32 Qliro's growth strategy 23 22 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Qliro 24
Slide 21: Operating Profit
OPERATING PROFIT COMMENTS OPERATING PROFIT, ADJUSTED FOR IAC (MSEK) • Profitability target for Q1 2026 was set in Q4 2025. • New BNPL volumes continue to 0.1 0.3 0.2 build the loan book, with revenue growth expected to accelerate in coming quarters due to the natural -12.0 -10.5 delay in the busines
Slide 22: Capital Overview
CAPITAL OVERVIEW COMMENTS Q1 CAPITALIZATION (% OF REA) • Qliro maintained a solid capital position in Q1 19.4% 2026, with a CET1 ratio of 14.1% and a total capital ratio of 19.4% 17.2% 2.9% 3.5% 2.4% • CET1 headroom: 2.3% • To P2R: 101 MSEK (4.5% of REA) 1.7% • To P2G: 22 MSEK (1.0% of REA) 14.1% •
Slide 23: Outlook
OUTLOOK Qliro 27
Slide 24: Looking Ahead at 2026
LOOKING AHEAD AT 2026 1 EXPECTING CONT’D NET REVENUE GROWTH ACCELERATION 2 EXPECTING PROFITABILITY FOR FULL YEAR 2026 3 ACCELERATE OUR SME & ENTERPRISE SALES ENGINE CONTINUE TO BUILD GROWTH MOMENTUM ON THE EARLY 4 SUCCESS OF OUR LAUNCH IN NORWAY & FINLAND FOCUS ON INITIATIVES TO ACCELERATE INCOME 5
Slide 25: Q&A
Q&A Qliro 29