Klarna reported a 15% rise in first-quarter revenue on Monday and returned to profit as the UK announced plans to tighten regulation on buy now, pay later lenders. The Swedish fintech posted $701 million in revenue and a $3 million adjusted profit, compared with a $2 million loss a year earlier, excluding the sale of its checkout business. The results follow Klarna’s decision last month to pause its planned US initial public offering, citing economic uncertainty and tariff concerns. The company made no mention of the IPO in its earnings update but said it is monitoring shifts in the business environment. The UK, one of Klarna’s key markets, said Monday it will introduce new rules from next year aimed at protecting consumers from unregulated lending. Klarna’s US revenue rose 33%, helped by partnerships with Walmart, DoorDash and eBay. StickIt Technologies Inc. (CSE
TKT) announced that it has strengthened its leadership team with the appointment of Igor Kostioutchenko to its board of directors. Kostioutchenko brings more than 15 years of experience in accounting and finance to the company, StickIt said in a statement on Friday. He holds multiple professional designations, including Chartered Professional Accountant, Chartered Business Valuator, Certified Internal Auditor, Certified Fraud Examiner, and is a Licensed Public Accountant. His expertise lies in financial assurance, advisory, and valuations, which StickIt highlighted are critical areas as the company advances its intellectual property portfolio and product commercialization. Eli Ben Haroosh, StickIt CEO, welcomed Kostioutchenko to the company’s board of directors. "We hope his expertise in finance and assurance will further increase the company's audit committee's and board of directors' financial expertise,” he said. “Mr Kostioutchenko is a chartered professional accountant with extensive experience in a variety of companies, and I am confident that his contribution to the company will be significant and comes at exactly the right time."
