Slide 1: Q2 2025 Presentation
Q2 2025 PRESENTATION CEO CHRISTOFFER RUTGERSSON CFO CARL LÖFGREN Qliro 1
Slide 2: Today's Presenters
TODAY’S PRESENTERS Christoffer Rutgersson Carl Löfgren CEO CFO 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
2025-08-26 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 +37% TPV GROWTH IN Q2, FURTHER ACCELERATION TO +45% IN JULY 3 SIGNIFICANT CONTRIBUTION FROM SME TO OPERATING INCOME (13%)
Slide 6: Our Vision
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: Significant uplift in TPV, accelerating further after Q2
IN 2 SIGNED TPV SIGNIFICANT UPLIFT IN TPV, ACCELERATING FURTHER AFTER Q2 Key takeaways Total Payments Volume (TPV), billion SEK Total Payments Volume (TPV), % growth • TPV grew by 37% to SEK 4,138 million Y-o-Y, driven by more merchants going live, including +40% Fyndiq, Cyberphoto and Skruvat/Bythj
Slide 8: Income contribution from SME at 13% in Q2
3 SIGNIFICANT FLYTTA INCOME CONTRIBUTION FROM SME AT 13% IN Q2 SLIDE 19 HIT? MERCHANT GROWTH TAKING OFF AS OUR SME OFFERING OUTPERFORMS COMPETITION Key takeaways Number of active merchants SME contribution to operating income • Double digit contributions to operating income of 13% compared to 3% las
Slide 9: Nordic launch gaining momentum
4 NORDIC LAUNCH GAINING MOMENTUM, +10% TPV GROWTH Y/Y Key takeaways SIGNED TPV OF SEK 1.3 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 SEK 1.3
Slide 10: BNPL volume turning around to growth, but still lagging TPV growth
5 BNPL VOLUME TURNING AROUND TO GROWTH, BUT STILL LAGGING TPV GROWTH Key takeaways NEW PAYLATER BNPL PRODUCT BNPL VOLUME GROWTH IMPROVING • BNPL as share of total payments volume (TPV) 10% 9% have declined as TPV is growing, but is stabilizing in Q2 with signs of recovery in July as BNPL volumes sta
Slide 11: Strengthened product offering to boost conversion & PL
44 STRENGTHENED PRODUCT OFFERING TO BOOST CONVERSION & PL Key takeaways Qliro Checkout Gen 3 • Qliro Checkout Generation 3 is a modular, high- performance checkout built to optimise every step of the purchase journey, with components designed to increase conversion, loyalty and profitability • Toget
Slide 12: Successful capital raises strengthen Qliro's financial position
6 SUCCESSFUL CAPITAL RAISES STRENGTHEN QLIRO’S FINANCIAL POSITION AND SUPPORT CONTINUED ACCELERATION Key takeaways Nasdaq Stock Exchange billboard at Times Square • Successfully raised SEK 117 million through an oversubscribed rights issue (324%), with strong support from both existing and new share
Slide 13: Focus on income generation, scalability and efficiency
47 FOCUS ON INCOME GENERATION, SCALABILITY AND EFFICIENCY PAY LATER PLATFORM PROCESS OPTIMIZATION MODERNIZATION AUTOMATIONS REDUCTION OF LOWERING STRICT VARIABLE COSTS CREDIT LOSSES COST CONTROL Ambition to accelerate our journey back to profitability
Slide 14: Strategic Highlights – Looking Ahead
2025-08-26 14 STRATEGIC HIGHLIGHTS – LOOKING AHEAD 1 MID TERM AMBITION TO BUILD A MARKET LEADING POSITION IN THE NORDICS 2 COMMERCIAL MOMENTUM TO CONTINUE TO ACCELERATE TPV GROWTH >40% 3 SME WILL CONTINUE TO GROW, WITH >30% OF GROWTH IN NEW VOLUMES 4 NORDIC EXPANSION WITH POTENTIAL TO ACCELERATE FUR
Slide 15: Financial Update
FINANCIAL UPDATE Qliro 15
Slide 16: Q2 Financial Overview
Q2 FINANCIAL OVERVIEW Key financial highlights Q2 summary Q2 25 Q2 24 y/y change • Q2 shows continued strong underlying growth momentum with 37% TPV growth y/y TPV 4 138 3 030 +37% Operating income 96.5 101.2 -5% • Accounting reserve release last year results in operating income decline of 5%. Like-
Slide 17: New sales drives operating income, but growth impacted by one-off adjustment
NEW SALES DRIVES OPERATING INCOME, BUT GROWTH IMPACTED BY ONE OFF ADJUSTMENT LAST YEAR AND CONTINUED BACKBOOK HEADWIND Q2 2024-Q2 2025 Operating income bridge, MSEK Comments • One-off 6.6 MSEK 101.2 accounting reserve +2% release Q2 2024 -6.6 96.5 94.6 • Like-for-like operating 2.7 income growth of
Slide 18: BNPL share of checkout has been a headwind, but trend has stabilized
BNPL SHARE OF CHECKOUT HAS BEEN A HEADWIND, BUT TREND HAS STABILIZED WITH IMPROVEMENT VISIBLE IN JULY BNPL volume as share of TPV, % BNPL volume growth y/y 24% 10% 9% 22 5% 20 3% 1% 18 0% 16 -3% -3% 14 -5% -10% -9% Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 July Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 July Qliro 18
Slide 19: Impact of new credit models and processes evident in underlying credit metrics
IMPACT OF NEW CREDIT MODELS AND PROCESSES EVIDENT IN UNDERLYING CREDIT METRICS Comments Reported ECL (MSEK) Example: Exports to debt collection Swedish BNPL • ECL in the quarter impacted by 27.7 ~30% improvement 5.4 MSEK revaluation and write- down in remaining Digital Banking 24.4 5.4 Discontinued
Slide 20: Strategic investments into Nordic expansion main driver of cost growth
STRATEGIC INVESTMENTS INTO NORDIC EXPANSION MAIN DRIVER OF YEAR-ON-YEAR COST GROWTH Comments Adjusted operating expense development excl. IAC • Our conscious investment in expansion and growth with increased Sales & Marketing costs 98 of 6.6 MSEK y/y incl. cost for the 11 Variable cost +21% expansio
Slide 21: Profitability initiatives executed in Q2, ~4 MSEK annual run-rate savings
PROFITABILITY INITIATIVES EXECUTED IN Q2, ALREADY SECURED ~4 MSEK IN ANNUAL RUNRATE SAVINGS Comments Financial impact (MSEK) • Costs of 2.2 MSEK taken in the quarter to drive profitability ~4 initiatives • ~4 MSEK in annual run-rate savings already realized, including: • Bank and Swish cost reductio
Slide 22: Equity issuance provides further headroom for growth
EQUITY ISSUANCE PROVIDES FURTHER HEADROOM FOR GROWTH Comments Capitalization (reported, % of REA) Pro forma (% of REA) • Successful and oversubscribed rights 24.5% issue and overallotment option executed in June-July 3.1% 19.6% 2.5% • Total gross proceeds of 117 MSEK (net proceeds of 105 MSEK) 17.2%
Slide 23: Outlook
OUTLOOK Qliro 23
Slide 24: Looking Ahead - Acceleration
LOOKING AHEAD - ACCELERATION 1 UPDATED GUIDANCE: AROUND 15% INCOME GROWTH IN Q4, WITH CONTINUED ACCELERATION IN 2026 EXPECTING ADDITIONAL +40% TPV COMPARED TO LTM 2 FROM NEW MERCHANTS NOT YET FULLY LIVE ON PLATFORM 3 ACCELERATE OUR SME & ENTERPRISE SALES ENGINE CONTINUE TO BUILD GROWTH MOMENTUM ON T
Slide 25: Q&A
Q&A Qliro 25