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Klaviyo, Inc. Class A (KVYO)
NYSE:KVYO
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Klaviyo, Inc. Class A
(NYSE:KVYO)
Rating:65Neutral
Price Target:
$35.00
▲(10.17%Upside)
Positive Factors
Financial Performance
KVYO screens well across forecasts and valuations with revenue growth at 26% compared to the 21% peer average, and its valuation remains attractive.
International Expansion
International revenues grew by more than 40% as KVYO expanded product configuration from 1 to 7 languages and SMS deliverability from 5 to 17 countries.
Sales Growth
Sales headcount accelerated for the 8th straight quarter, which is seen as a solid demand indicator.
Negative Factors
Investor Sentiment
Investor sentiment remains mixed with underappreciated growth initiatives unfolding.
Retail Customer Base
Despite concerns about its retail-heavy customer base, the guidance still implies continued potential for upside.
Klaviyo, Inc. Class A (KVYO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.77B
Dividend YieldN/A
Average Volume (3M)1.58M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth33.95%
EPS Growth87.03%
CountryUS
Employees2,316
SectorTechnology
Sector Strength93
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.14
Shares Outstanding94,683,730
10 Day Avg. Volume887,599
30 Day Avg. Volume1,576,319
Financial Highlights & Ratios
PEG Ratio4.47
Price to Book (P/B)-7.96
Price to Sales (P/S)0.00
P/FCF Ratio-197.40
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue2.19
Enterprise Value/Gross Profit10.39
Enterprise Value/Ebitda-14.39
Forecast
1Y Price Target
$44.20Price Target Upside39.12% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
Klaviyo, Inc. Class A Business Overview & Revenue Model
Company DescriptionKlaviyo, Inc. Class A (KVYO) is a technology company specializing in email and SMS marketing automation solutions. Founded in 2012 and headquartered in Boston, Massachusetts, Klaviyo operates in the software-as-a-service (SaaS) sector. The company's core products include a platform that enables businesses to create, automate, and personalize marketing campaigns through email and SMS, helping them to improve customer engagement and drive sales. Klaviyo serves a wide range of industries, with a strong focus on e-commerce businesses looking to enhance their marketing strategies and customer relationships.
How the Company Makes MoneyKlaviyo generates revenue primarily through a subscription-based model. Customers pay for access to its marketing automation platform, with pricing tiers based on the number of contacts in their database and the volume of messages sent. This allows Klaviyo to earn recurring revenue from its clients. The company also offers additional features and capabilities, such as advanced analytics and customized integrations, which can be purchased at higher subscription levels. In addition to its core subscription services, Klaviyo partners with e-commerce platforms and other technology providers to expand its reach and offer integrated solutions, further enhancing its revenue potential. These partnerships are significant in driving customer acquisition and retention, contributing to the company's overall earnings growth.
Klaviyo, Inc. Class A Key Performance Indicators (KPIs)
Any
Total Customers
Indicates the total number of clients using Klaviyo's services, highlighting market penetration and the company's ability to attract and retain users.
Indicates the total number of clients using Klaviyo's services, highlighting market penetration and the company's ability to attract and retain users.
Data provided by:
Main Street Data
Main Street DataKlaviyo, Inc. Class A Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: 0.54%|
Next Earnings Date:Aug 05, 2025
Earnings Call Sentiment Positive
The earnings call reflects a generally positive sentiment with strong revenue growth, successful international expansion, high customer retention, and new product introductions. Despite macro-economic uncertainties and increased infrastructure costs affecting margins, Klaviyo's strategic investments and strong customer relationships position the company well for continued growth.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
Klaviyo reported Q1 revenue of $280 million, a 33% year-over-year increase.
Expansion in Mid-Market and International Markets
Klaviyo showed notable momentum in the mid-market and international expansion, with EMEA revenue growing 47% year-over-year.
High Customer Retention and Growth
Klaviyo ended Q1 with more than 169,000 customers, up 16% year-over-year, and achieved a net revenue retention rate (NRR) of 108%.
Growth in High-Value Customers
The number of customers with over $50,000 in ARR grew by 40% year-over-year, and more than 1,000 customers now pay over $100,000 in ARR.
New Product Launches and Innovations
Introduced new features and products, including marketing analytics and Customer Hub, which are seeing strong traction.
Successful International Expansion
Significant growth in France, Germany, and Spain, each delivering over 100% year-on-year growth in new business.
Notable Customer Wins
Signed new or expansion deals with companies like The Hershey Company, Belkin, and Gorjana.
Negative Updates
Challenges with Increased Infrastructure Costs
Non-GAAP gross margin decreased by approximately 3 points year-over-year due to increased infrastructure costs and the growth of the SMS product.
Cautious Macro-Economic Environment
Customers are feeling tentative due to macro-economic uncertainties, including potential tariffs and consumer sentiment.
Company Guidance
During Klaviyo's Q1 Fiscal 2025 earnings call, CEO Andrew Bialecki highlighted a robust start to the year with a 33% year-over-year revenue increase, reaching $280 million. The company now serves over 169,000 customers globally. Klaviyo's non-GAAP operating margin was reported at 11.6%, and the company noted strong customer retention rates despite recent pricing updates. The firm is seeing significant traction in its marketing analytics and Customer Hub products, with examples of increased customer conversions and repeat purchases. Internationally, Klaviyo experienced over 100% year-on-year growth in new business in countries like France, Germany, and Spain. The company raised its full-year 2025 revenue guidance to between $1.171 billion and $1.179 billion, reflecting a 25% to 26% growth, supported by strong Q1 performance and positive demand signals. Despite macroeconomic uncertainties, Klaviyo remains focused on expanding its AI-driven capabilities and international footprint to cater to diverse market needs.Klaviyo, Inc. Class A Financial Statement Overview
Summary
Klaviyo, Inc. shows significant revenue growth and robust gross profit margins, demonstrating strong market presence. The Balance Sheet indicates financial stability with low leverage, yet profitability remains a challenge due to persistent net losses. Efficient cash management is evident, but a decline in operating cash flow signals potential future challenges.Income Statement
Klaviyo, Inc. shows strong revenue growth with a Revenue Growth Rate of 43% from 2023 to 2024 and 39% from 2024 to TTM (Trailing-Twelve-Months). Gross Profit Margin remains robust at around 76% TTM. However, the company is struggling with profitability as indicated by negative EBIT and Net Profit Margins, suggesting operational inefficiencies or high costs.65
Positive
Balance Sheet
The company's Balance Sheet is stable with a low Debt-to-Equity Ratio of 0.10 TTM, indicating low leverage. The Equity Ratio is solid at 79% TTM, showcasing financial stability. However, the high liabilities in previous years highlight potential financial risks.70
Positive
Cash Flow
Cash flow performance is strong with positive Operating Cash Flow and Free Cash Flow TTM. The Free Cash Flow to Net Income Ratio is favorable, suggesting efficient cash management despite net losses. However, a decline in Operating Cash Flow from 2024 to TTM indicates potential future cash flow challenges.75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.01B | 937.46M | 698.10M | 472.75M | 290.64M |
| Gross Profit | 763.23M | 716.16M | 520.21M | 344.72M | 205.94M |
| EBITDA | -69.01M | -66.36M | -293.35M | -40.03M | -73.80M |
| Net Income | -47.35M | -46.14M | -308.23M | -49.19M | -79.39M |
Balance Sheet | |||||
| Total Assets | 1.35B | 1.27B | 1.09B | 629.08M | 464.45M |
| Cash, Cash Equivalents and Short-Term Investments | 888.43M | 881.47M | 738.56M | 385.82M | 327.91M |
| Total Debt | 102.69M | 53.44M | 51.58M | 62.41M | 65.47M |
| Total Liabilities | 283.38M | 239.32M | 174.27M | 1.67B | 2.70B |
| Stockholders Equity | 1.06B | 1.03B | 914.78M | -1.04B | -2.24B |
Cash Flow | |||||
| Free Cash Flow | 132.39M | 148.73M | 110.01M | -41.80M | -36.97M |
| Operating Cash Flow | 154.13M | 165.96M | 119.37M | -23.55M | -22.74M |
| Investing Cash Flow | -21.74M | -17.23M | -9.36M | -18.75M | -14.23M |
| Financing Cash Flow | -99.00K | -5.80M | 242.73M | 101.30M | 211.26M |
Klaviyo, Inc. Class A Technical Analysis
Negative
31.77
Price Trends
33.60
Negative
32.72
Negative
36.46
Negative
Market Momentum
-0.41
Positive
43.96
Neutral
18.90
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KVYO, the sentiment is Negative. The current price of 31.77 is below the 20-day moving average (MA) of 32.82, below the 50-day MA of 33.60, and below the 200-day MA of 36.46, indicating a bearish trend. The MACD of -0.41 indicates Positive momentum. The RSI at 43.96 is Neutral, neither overbought nor oversold. The STOCH value of 18.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KVYO.
Klaviyo, Inc. Class A Risk Analysis
Klaviyo, Inc. Class A disclosed 63 risk factors in its most recent earnings report. Klaviyo, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Klaviyo, Inc. Class A Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $17.05B | ― | -4.00% | ― | 19.24% | 59.66% | |
70 Outperform | $5.17B | 19.77 | 24.37% | ― | 0.90% | 26.13% | |
68 Neutral | $1.33B | ― | -55.90% | ― | 12.76% | 16.97% | |
66 Neutral | $8.48B | ― | -34.18% | ― | 24.11% | 21.87% | |
65 Neutral | $8.77B | ― | -4.73% | ― | 33.95% | 87.03% | |
64 Neutral | $5.89B | ― | -26.98% | ― | 32.25% | 20.56% | |
63 Neutral | $34.26B | 5.42 | -11.67% | 1.85% | 5.30% | -18.55% |
* Technology Sector Average
Performance Comparison
KVYO
Klaviyo, Inc. Class A
32.12
6.85
27.11%
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153.55
-31.08
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MDB
MongoDB
218.53
-32.93
-13.10%
CFLT
Confluent
25.43
1.06
4.35%
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SentinelOne
17.72
-4.00
-18.42%
BASE
Couchbase
24.24
6.36
35.57%
Klaviyo, Inc. Class A Corporate Events
Executive/Board ChangesShareholder Meetings
Klaviyo, Inc. Stockholders Approve Key Governance Proposals
Neutral
Jun 11, 2025
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.
The most recent analyst rating on (KVYO) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Klaviyo, Inc. Class A stock, see the KVYO Stock Forecast page.
Private Placements and Financing
Klaviyo Announces $372M Secondary Offering for Tax Obligations
Neutral
May 16, 2025
On May 13, 2025, Klaviyo, Inc. announced a secondary offering of $372 million in Series A common stock, primarily to cover CEO Andrew Bialecki’s tax obligations related to stock options. The company will not receive proceeds from this offering, which is managed by Goldman Sachs and Morgan Stanley, and its completion is subject to market conditions.
The most recent analyst rating on (KVYO) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Klaviyo, Inc. Class A stock, see the KVYO Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.