People were worried about BNPL for a while, less chatter recently. Anyhow #$KLAR: network spending beat by 3% (transactions +27% YoY, vale +33% YoY), 7% revenue beat, "Fair Financing" product +138% YoY. Delinquencies -36 bps vs Q2 '25 peak. Provisions 55 bps of GMV; Q1 collections v strong.