Klaviyo, Inc. Class A ( (KVYO) ) has released its Q3 earnings. Here is a breakdown of the information Klaviyo, Inc. Class A presented to its investors.
Klaviyo, Inc. operates in the digital marketing sector, providing a platform that enables businesses to leverage first-party data for targeted marketing through email, SMS, and push notifications, supporting more than 157,000 customers globally.
Klaviyo reported robust financial growth for the third quarter of 2024, with a 34% increase in revenue year-over-year to $235.1 million. The company also raised its full-year 2024 revenue guidance, reflecting confidence in its ongoing growth strategies.
Key financial metrics from the report include a gross profit of $180.7 million, representing a 77% gross margin, and a notable decrease in operating loss to $13.3 million from $302.2 million the previous year. The company also saw a significant increase in customers generating over $50,000 in annual recurring revenue, rising 54% year-over-year. Strategic initiatives included expanding language support and SMS offerings, along with integrations with platforms like Canva, highlighting Klaviyo’s efforts to enhance its service offerings and market reach.
Looking ahead, Klaviyo remains focused on international expansion and customer growth, with management optimistic about sustaining revenue growth through strategic initiatives and continued platform enhancements.
