ByAmit Chowdhry Today at 8:00 PM Klarna lowered its full-year 2026 gross merchandise volume outlook while raising its transaction margin expectations, signaling that the company expects stronger economics from a somewhat smaller volume base. Meanwhile, Klarna Membership revenue rose more than 600% year over year as paying subscribers grew eightfold to 2 million, adding a rapidly expanding recurring-revenue component to its broader payments and lending platform. Klarna now expects full-year GMV of $149 billion to $151 billion, down from its previous expectation of more than $155 billion. The company attributed the adjustment partly to approximately $600 million of currency translation and a more measured view of volumes in Germany, its largest market by volume. Despite the lower volume forecast, Klarna raised its expected transaction margin dollars to $1.