Klaviyo, Inc. Class A (KVYO) AI Stock Analysis

• Market Cap: $9.46B
• Dividend Yield: N/A
• Average Volume (3M): 2.21M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.52
• Revenue Growth: 33.17%
• EPS Growth: 82.85%
• Country: US
• Employees: 2,316
• Sector: Technology
• Sector Strength: 86
• Industry: Software - Infrastructure
• EPS (TTM): 0.16
• Shares Outstanding: 116,897,730
• 10 Day Avg. Volume: 2,422,266
• 30 Day Avg. Volume: 2,206,449
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 8.10
• Enterprise Value/Gross Profit: 10.74
• Enterprise Value/Ebitda: -102.98
• 1Y Price Target: $46.38
• Price Target Upside: 42.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 15

• Rating: 65 Neutral
• Price Target: $34.00 ▲(4.58% Upside)

Klaviyo's overall stock score reflects strong financial performance with robust revenue growth and improving cash flow, as well as positive sentiment from the latest earnings call. However, the stock's valuation is impacted by negative earnings, and technical indicators suggest a neutral trend. Leadership changes and margin pressures are potential risks to monitor.

Positive Factors

Customer Growth

Klaviyo is gaining momentum up market with strong growth in net new customers with significant contributions from customer referrals.

Earnings

Klaviyo is up 11% after reporting results where revenue and EBIT margin exceeded expectations.

Negative Factors

Investor Sentiment

Investor sentiment remains mixed with underappreciated growth initiatives unfolding.

Stock Valuation

Klaviyo's share price and valuation have been disappointing since the IPO, remaining flat despite increased revenue estimates.

Klaviyo, Inc. Class A Business Overview & Revenue Model

Company Description

Klaviyo, Inc. Class A (KVYO) is a leading customer data platform and marketing automation software provider that specializes in enabling businesses to leverage their customer data for personalized marketing experiences. Primarily serving the e-commerce and retail sectors, Klaviyo offers a suite of tools that facilitate email marketing, SMS marketing, and customer segmentation. The platform allows businesses to create targeted marketing campaigns based on consumer behavior and preferences, driving engagement and sales growth.

How the Company Makes Money

Klaviyo generates revenue primarily through a subscription-based model, where businesses pay for access to its marketing automation platform. The pricing structure is tiered based on the number of contacts managed and the level of features included in the subscription. Additionally, Klaviyo earns revenue from professional services such as onboarding, training, and consulting that help clients optimize their use of the platform. Key partnerships with e-commerce platforms and integrations with various applications enhance the company’s ecosystem, providing additional opportunities for customer acquisition and retention, thereby contributing to its overall earnings.

Klaviyo, Inc. Class A Financial Statement Overview

Summary

Klaviyo, Inc. demonstrates strong revenue growth and efficient cost management, as evidenced by its high gross profit margin. The balance sheet is solid, with low leverage and a strong equity position. Cash flow generation is improving, with significant growth in free cash flow. However, the company continues to face challenges in achieving profitability, as reflected in its negative net income and return on equity. Overall, Klaviyo is on a positive trajectory but needs to focus on turning revenue growth into sustainable profits.

Income Statement

Klaviyo, Inc. has shown consistent revenue growth, with a TTM growth rate of 7.04%. The gross profit margin remains strong at 75.77%, indicating efficient cost management. However, the company is still operating at a net loss, with a net profit margin of -4.70%, and negative EBIT and EBITDA margins, reflecting ongoing challenges in achieving profitability.

Balance Sheet

The balance sheet shows a healthy debt-to-equity ratio of 0.10, suggesting low leverage and financial stability. The equity ratio is strong, with stockholders' equity making up a significant portion of total assets. However, the negative return on equity indicates that the company is not yet generating positive returns for shareholders.

Cash Flow

The cash flow statement highlights a positive trend, with free cash flow growth of 20.34% in the TTM period. The operating cash flow to net income ratio is robust at 0.80, indicating good cash generation relative to net income. The free cash flow to net income ratio of 0.86 further underscores the company's ability to generate cash despite net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.08B	937.46M	698.10M	472.75M	290.64M
Gross Profit	813.17M	716.16M	520.21M	344.72M	205.94M
EBITDA	-84.79M	-66.36M	-316.97M	-46.00M	-73.80M
Net Income	-66.69M	-46.14M	-308.23M	-49.19M	-79.39M
Balance Sheet
Total Assets	1.40B	1.27B	1.09B	629.08M	464.45M
Cash, Cash Equivalents and Short-Term Investments	935.52M	881.47M	738.56M	385.82M	327.91M
Total Debt	99.19M	53.44M	51.58M	62.41M	65.47M
Total Liabilities	301.13M	239.32M	174.27M	1.67B	2.70B
Stockholders Equity	1.10B	1.03B	914.78M	-1.04B	-2.24B
Cash Flow
Free Cash Flow	159.32M	148.73M	110.01M	-41.80M	-36.97M
Operating Cash Flow	168.96M	165.96M	119.37M	-23.55M	-22.74M
Investing Cash Flow	-25.21M	-17.23M	-9.36M	-18.75M	-14.23M
Financing Cash Flow	-2.12M	-5.80M	242.73M	101.30M	211.26M

Klaviyo, Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 32.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KVYO, the sentiment is Positive. The current price of 32.51 is above the 20-day moving average (MA) of 31.85, above the 50-day MA of 32.31, and below the 200-day MA of 35.67, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 52.25 is Neutral, neither overbought nor oversold. The STOCH value of 67.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KVYO.

Klaviyo, Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WEX	77 Outperform	$5.87B	21.86	22.19%	―	-1.62%	36.57%
MDB	73 Outperform	$25.88B	―	-3.65%	―	21.90%	67.81%
BASE	68 Neutral	$1.35B	―	-55.90%	―	12.76%	16.97%
KVYO	65 Neutral	$9.46B	―	-6.42%	―	33.17%	82.85%
S	64 Neutral	$5.86B	―	-27.34%	―	25.39%	-42.90%
Sector *	61 Neutral	$35.48B	7.70	-10.11%	1.88%	8.73%	-9.23%
CFLT	57 Neutral	$6.91B	―	-32.18%	―	23.02%	21.01%

Klaviyo, Inc. Class A Corporate Events

Klaviyo Announces Secondary Offering of Series A Shares

On August 13, 2025, Klaviyo, Inc. announced a secondary offering of 6,500,000 shares of Series A common stock by Summit Partners affiliates, with Barclays as the underwriter. The company will not receive proceeds from this sale, which is subject to market conditions, impacting its market positioning and stakeholder interests.

Klaviyo Announces President Steve Rowland’s Retirement

On August 5, 2025, Klaviyo, Inc. announced that its President, Steve Rowland, will retire effective December 31, 2025. To ensure a smooth transition, Rowland will remain in a transitional role until his retirement date, receiving his regular salary and benefits. Post-retirement, he will serve as a consultant until March 31, 2026, with compensation in the form of continued vesting of equity awards.

Klaviyo, Inc. Stockholders Approve Key Governance Proposals

On June 10, 2025, Klaviyo, Inc. held its annual meeting of stockholders virtually, where four key proposals were voted on. The stockholders elected Ed Hallen, Michael Medici, and Roxanne Oulman as Class II directors, ratified Deloitte & Touche LLP as the independent auditor, approved executive compensation, and decided on an annual frequency for advisory votes on executive compensation. These decisions reflect the company’s ongoing governance and operational strategies, potentially impacting its market positioning and stakeholder relations.