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

• Market Cap: $9.65B
• Dividend Yield: N/A
• Average Volume (3M): 2.34M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.34
• Revenue Growth: 32.81%
• EPS Growth: -36.32%
• Country: US
• Employees: 2,316
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.18
• Shares Outstanding: 137,856,140
• 10 Day Avg. Volume: 2,830,851
• 30 Day Avg. Volume: 2,340,915
• PEG Ratio: 2.75
• Price to Book (P/B): 10.62
• Price to Sales (P/S): 11.72
• P/FCF Ratio: 73.85
• Enterprise Value/Market Cap: 0.77
• Enterprise Value/Revenue: 6.47
• Enterprise Value/Gross Profit: 8.61
• Enterprise Value/Ebitda: -103.24
• 1Y Price Target: $42.50
• Price Target Upside: 33.02% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 0.65
• Revenue Forecast (FY): $1.22B

• Rating: 72 Outperform
• Price Target: $34.00 ▲(6.42% Upside)

Klaviyo, Inc. scores a 72, driven by strong earnings call insights and positive corporate events. The company's strategic focus on AI and international expansion is promising, though profitability challenges and valuation concerns temper the overall score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market reach and product adoption, supporting long-term business sustainability.

International Expansion

Strong international growth enhances market diversification and reduces dependence on domestic markets, strengthening global presence.

AI Integration

Rapid adoption of AI-driven products positions Klaviyo as a leader in innovation, enhancing competitive advantage and customer value.

Negative Factors

Profitability Challenges

Ongoing profitability issues indicate operational inefficiencies, which could hinder financial flexibility and long-term growth.

Legacy Tech Challenges

Difficulty in transitioning clients from legacy systems may slow AI adoption, impacting growth and market competitiveness.

Limited Immediate AI Revenue

While AI products show promise, limited immediate revenue contribution may delay financial benefits, affecting short-term performance.

Klaviyo, Inc. Class A Business Overview & Revenue Model

Company Description

Klaviyo, Inc. Class A (KVYO) is a leading marketing automation platform that specializes in email and SMS marketing services. Founded in 2012, Klaviyo primarily serves e-commerce businesses by providing tools to enhance customer engagement, optimize marketing campaigns, and drive sales through data-driven insights. The platform integrates seamlessly with various e-commerce systems, enabling brands to create personalized marketing experiences and automate their outreach efforts.

How the Company Makes Money

Klaviyo generates revenue primarily through a subscription-based model, charging customers based on the number of contacts they manage and the features they utilize. The company offers several pricing tiers that cater to different business sizes and needs, allowing clients to scale their usage as their customer base grows. Additionally, Klaviyo monetizes its services through add-on features and advanced analytics tools that provide deeper insights into customer behavior. The platform's strong integration capabilities with popular e-commerce platforms further enhance its value proposition, driving customer acquisition and retention. Strategic partnerships with e-commerce platform providers also contribute to its revenue growth by expanding its market reach and facilitating customer onboarding.

Klaviyo, Inc. Class A Financial Statement Overview

Summary

Klaviyo, Inc. demonstrates strong revenue growth and effective gross margin management, but faces challenges in achieving profitability. The balance sheet is solid with low leverage, though returns on equity are negative. Cash flow generation is improving, which is a positive sign for future financial stability.

Income Statement

Klaviyo, Inc. has shown consistent revenue growth with a 7.03% increase in the TTM period. However, profitability remains a challenge with negative net profit and EBIT margins, indicating ongoing operational inefficiencies. The gross profit margin is strong at 75.42%, suggesting effective cost management at the gross level.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.09, reflecting conservative leverage. However, the negative return on equity (-6.34%) indicates that the company is not generating sufficient returns on its equity base. The equity ratio of 77.96% suggests a strong equity position relative to total assets.

Cash Flow

Klaviyo's free cash flow has grown by 12.55% in the TTM period, indicating improving cash generation capabilities. The operating cash flow to net income ratio of 0.79 suggests that the company is generating cash efficiently relative to its net income, despite the negative net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.15B	937.46M	698.10M	472.75M	290.64M
Gross Profit	867.17M	716.16M	520.21M	344.72M	205.94M
EBITDA	-72.29M	-66.36M	-316.97M	-46.00M	-73.80M
Net Income	-65.77M	-46.14M	-308.23M	-49.19M	-79.39M
Balance Sheet
Total Assets	1.47B	1.27B	1.09B	629.08M	464.45M
Cash, Cash Equivalents and Short-Term Investments	980.27M	881.47M	738.56M	385.82M	327.91M
Total Debt	113.41M	53.44M	51.58M	62.41M	65.47M
Total Liabilities	322.99M	239.32M	174.27M	1.67B	2.70B
Stockholders Equity	1.14B	1.03B	914.78M	-1.04B	-2.24B
Cash Flow
Free Cash Flow	179.31M	148.73M	110.01M	-41.80M	-36.97M
Operating Cash Flow	184.94M	165.96M	119.37M	-23.55M	-22.74M
Investing Cash Flow	-30.41M	-17.23M	-9.36M	-18.75M	-14.23M
Financing Cash Flow	-1.42M	-5.80M	242.73M	101.30M	211.26M

Klaviyo, Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 31.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 31.95 is above the 20-day moving average (MA) of 29.37, above the 50-day MA of 27.66, and above the 200-day MA of 30.78, indicating a bullish trend. The MACD of 0.78 indicates Negative momentum. The RSI at 66.28 is Neutral, neither overbought nor oversold. The STOCH value of 82.38 is Negative, 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
AKAM	73 Outperform	$12.84B	26.16	10.64%	―	4.21%	-0.63%
KVYO	72 Outperform	$9.65B	-134.47	-6.10%	―	32.81%	-36.32%
CFLT	72 Outperform	$10.58B	―	-29.62%	―	21.58%	18.88%
DBX	62 Neutral	$7.18B	16.26	―	―	-0.44%	2.47%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
INFA	54 Neutral	―	―	0.43%	―	1.32%	-84.56%
VRNS	48 Neutral	$3.94B	-32.98	-22.17%	―	11.37%	-34.44%

Klaviyo, Inc. Class A Corporate Events

Klaviyo Appoints Chano Fernández as Co-CEO

On December 8, 2025, Klaviyo’s Board of Directors appointed Chano Fernández as co-Chief Executive Officer, effective January 1, 2026, alongside co-founder Andrew Bialecki. This strategic move aims to enhance Klaviyo’s capacity to pursue global opportunities and lead the AI revolution in the B2C CRM sector, with Fernández focusing on go-to-market and operations while Bialecki drives the company’s AI vision.

Klaviyo Reports Record Black Friday Cyber Monday Sales

On December 2, 2025, Klaviyo, Inc. reported record-breaking results for the 2025 Black Friday Cyber Monday period, with a 27% year-over-year increase in Klaviyo Attributed Value, reaching $3.8 billion. The company’s AI-powered personalization and loyalty strategies led to significant growth in consumer engagement and spending, despite a decrease in discount rates across the industry. The report highlighted that consumer loyalty and AI-driven recommendations were key drivers of performance, with repeat customers contributing significantly to sales growth. Klaviyo’s approach demonstrated that brands could achieve strong results by focusing on customer relationships and personalized experiences rather than relying solely on discounts.

Klaviyo, Inc. Unveils AI-Driven CRM Strategy

On September 25, 2025, Klaviyo, Inc. held an Investor Day event where it presented its business strategy, market opportunities, and financial performance. The company highlighted its focus on building an autonomous CRM platform, emphasizing the integration of AI to drive productivity and enhance customer experiences. Klaviyo aims to expand its market presence by targeting mid-market and enterprise customers, leveraging its data-driven approach to fuel growth and innovation.