Klaviyo, Inc. (KVYO)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.4B

Revenue growth

28.9%

Net income, last twelve months

$6.8M

Earnings per share

$0.02

Gross margin

73.8%

Operating margin

-1.9%

Net margin

0.5%

Free cash flow

$253.1M

Return on equity

0.7%

Market value

$6.1B

Price to earnings

1027.5x

Cash

$832.6M

Debt

$0

Debt to equity

0.00

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of fiscal 2026 results, filed 5 August 2026.

• Revenue rose 26% to $370.6 million. Revenue was $370.6 million, against $293.1 million a year earlier. Six-month revenue was $728.6 million, against $572.9 million.
• Revenue run rate near $1.5 billion. The company closed the quarter at a nearly $1.5 billion annualized run rate, with growth across enterprise, international and multi-product.
• Non-GAAP operating income reached $50.9 million. GAAP operating loss was $15.0 million, against $31.3 million a year earlier. Non-GAAP operating income was $50.9 million, a 14% margin, against $40.9 million at 14.0%.
• Net loss per share narrowed. Net loss per share, basic and diluted, was $(0.03), against $(0.09) a year earlier. Non-GAAP net income per diluted share was $0.19, against $0.16.
• Customer count passed 205,000. Total customers exceeded 205,000, up from over 196,000 at March 31. Customers generating over $50,000 of ARR rose to 4,477, from 4,175 at March 31.
• Net revenue retention reached 109%. Dollar-based net revenue retention was 109%, up one percentage point year over year, against 110% in the prior quarter release.
• One fifth of ARR from multi-product customers. 20% of ARR came from customers using three or more products.
• New brands and a regional expansion. New customers include Warner Music Group, the San Francisco 49ers and Claire’s. The Body Shop expanded regionally.
• Revenue outside Americas up 35%. Revenue outside the Americas grew 35% year over year. The company hosted its largest K:LDN event to date.
• Prior quarter international growth was 39%. The prior quarter release reported 39% revenue growth outside the Americas and 51% growth for EMEA excluding the UK.
• Composer released and agents enhanced. Composer was released. Customer Agent gained a conversational builder, custom skills, simulations and developer API access. K:Social launched generally.
• Composer was in private preview. At the prior report, Composer was in private preview and Customer Agent added custom skills and more channels.
• AI and commerce platform integrations. New integrations include Anthropic Claude and native Figma. Klaviyo launched as a Shopify Sidekick and Stripe Projects partner.
• Autonomous B2C CRM positioning. Management said agents depend on context, and that the company has spent over a decade building real-time infrastructure to deliver it.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 26 held.

Every filing

The newest filings with the SEC of 75 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

334 funds held it at 30 Jun 2026: 164 added and 75 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Microsoft Corp. (MSFT): revenue $346.4B, market value $3.95T
• Palantir Technologies Inc. (PLTR): revenue $6.2B, market value $473.1B
• Oracle Corp. (ORCL): revenue $71.8B, market value $436.3B
• SAP SE (SAP): revenue $41.6B, market value $276.7B
• CrowdStrike Holdings, Inc. (CRWD): revenue $5.4B, market value $273.1B
• Shopify Inc. (SHOP): revenue $13.3B, market value $218.4B
• Salesforce, Inc. (CRM): revenue $43.9B, market value $199.5B
• ServiceNow, Inc. (NOW): revenue $15.4B, market value $155.6B
• Snowflake Inc. (SNOW): revenue $5.4B, market value $119.8B
• Cloudflare, Inc. (NET): revenue $2.5B, market value $113.0B

What the company does

Klaviyo is a software company that sells a B2C CRM, a customer relationship management platform built for companies that sell to consumers. As of 31 December 2025 it had over 193,000 customers, from emerging creators to global enterprises.

What it sells

The platform has three layers. The data layer holds profile data such as identity and preferences, along with event data such as browsing, purchasing, returns and support interactions. The intelligence layer applies statistical and machine learning techniques to produce predictions, such as estimated customer lifetime value, next order dates and churn risk. The action layer holds the tools and AI agents customers use to act on that data.

- AI agents: Marketing Agent generates campaigns, flows and signup forms. Customer Agent answers questions and helps shoppers across digital channels. - Marketing: email, text messaging, Rich Communication Services, WhatsApp messaging, mobile push notifications, Klaviyo Social (added through the 2025 acquisition of Gatsby) and a Reviews add-on. - Service: Customer Hub, a consumer-facing portal, and Helpdesk, a workspace for managing consumer conversations. Together with Customer Agent they form Klaviyo Service. - Data and analytics: the KDP, Advanced KDP and Marketing Analytics.

The platform connects to over 350 third-party integrations, including Shopify, WooCommerce and Salesforce Commerce Cloud. Data is stored in the cloud using databases such as MySQL, PostgreSQL, Clickhouse and S3.

How it makes money

Klaviyo sells subscriptions to its platform. Plans are tiered by the number of active consumer profiles and by the number of emails, text messages and WhatsApp messages sent. For Klaviyo Service, tiers also depend on tickets and conversations. The company does not price by seat. Push notifications are unlimited and included in the email plan.

The company describes a land-and-expand approach. Customers move to higher tiers as they store more profiles and send more messages. They can also add channels such as text messaging and WhatsApp, add use cases such as Customer Agent and Advanced KDP, or extend the platform to other brands, business units and geographies. Text and WhatsApp messages carry higher sending costs than email. Demand rises in the fourth quarter because of holiday shopping.

Who buys from it

Customers range from entrepreneurs and small and medium-sized businesses to mid-market companies and enterprises. The company started with small businesses and has built a sales team for mid-market and enterprise accounts. Most customers operate in retail and eCommerce. Others come from education, events and entertainment, restaurants and travel, and some are business-to-business companies. The filing defines a customer as a distinct paid subscription, so one organisation with several brands can count as several customers.

How it reaches customers

The company calls its go-to-market approach product-led. Most new customers arrive through inbound channels such as word-of-mouth, commerce platform partnerships and agency partnerships. Many sign up on the website without involving sales, and they can start on a free tier or go directly to a paid plan. Sales teams cover Americas, EMEA and APAC. They include an inside sales team for new customers, a mid-market and enterprise team, and a customer growth team.

The partner ecosystem covers commerce platforms, technology companies, marketing agencies, systems integrators and developers. In July 2022 the company completed transactions with Shopify that made Klaviyo the recommended email solution for all Shopify Plus merchants. In January 2026 it launched a Klaviyo application with OpenAI that lets customers reach their Klaviyo data inside ChatGPT.

Where it operates

The company began by serving North America. It added London in 2019, Sydney in 2022, Dublin in 2024, and Singapore and France in 2025. Sales outside the Americas made up 35.1% of revenue in 2025. Text messaging is offered in more than 20 countries. The platform is offered in English, French, German, Portuguese, Korean, Spanish, Italian, Dutch, Swedish, Spanish (Mexico) and Polish. Klaviyo bills only in U.S. Dollars.

Competition and intellectual property

It says some competitors may be larger and have greater resources. The company says it believes none offers comparable solutions with the full functionality of its platform.

As of 31 December 2025 it held 26 issued and allowed patents and 47 pending patent applications in the United States. It also held 6 registered trademarks and 5 pending trademarks in the United States, and 101 registered and 42 pending trademarks outside it. The company is subject to laws on privacy, data protection, consumer protection and other matters across jurisdictions.

*From Klaviyo's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1835830/000183583026000007/kvyo-20251231.htm)*

From the company's 10-K.