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Klaviyo (KVYO)

Market Price (6/25/2026): $14.1 | Market Cap: $4.3 BilSector: Information Technology | Industry: Application Software

Klaviyo (KVYO)

Market Price (6/25/2026): $14.1
Market Cap: $4.3 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 30%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -59%

Megatrend and thematic drivers
Megatrends include Cloud Computing, E-commerce & Digital Retail, and Digital Advertising. Themes include Software as a Service (SaaS), Show more.

Weak multi-year price returns
2Y Excs Rtn is -72%, 3Y Excs Rtn is -124%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -42 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.2%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4%

Key risks
KVYO key risks include [1] a significant concentration risk from its pivotal reliance on the Shopify partnership and [2] customer churn and declining retention rates stemming from its recent shift to an active profile-based pricing model.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 30%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
3 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -59%
4 Megatrend and thematic drivers
Megatrends include Cloud Computing, E-commerce & Digital Retail, and Digital Advertising. Themes include Software as a Service (SaaS), Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -72%, 3Y Excs Rtn is -124%
6 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -42 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.2%
7 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4%
9 Key risks
KVYO key risks include [1] a significant concentration risk from its pivotal reliance on the Shopify partnership and [2] customer churn and declining retention rates stemming from its recent shift to an active profile-based pricing model.

KVYO in ETFs

Weight = KVYO's share of each fund

VTI0.00%
ITOT0.00%
VB0.03%
IGV0.07%
VBK0.06%
ESML0.04%
SCHA0.04%
DFAS0.02%
+3 more covered ETFs

Valuation & Metrics

FYE: 12/31KVYO [1]S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]$1.3 Bil—
FY 2026 Sales$1.5 Bil—
FY 2027 Sales$1.8 Bil—
FY 2026 Sales Growth15.8%—
FY 2027 Sales Growth19.4%8.2%
EARNINGS
LTM Net Income (GAAP) [3]$-8.6 Mil—
FY 2026 Net Income (Non-GAAP)$245.7 Mil—
FY 2027 Net Income (Non-GAAP)$302.8 Mil—
FY 2027 Net Income Growth23.2%16.0%
FY 2026 EPS (Non-GAAP)$0.85—
FY 2027 EPS (Non-GAAP)$1.04—
FY 2027 EPS Growth21.9%—
VALUATION
FY 2026 P/S2.83.3
FY 2027 P/S2.4—
FY 2026 P/E17.520.2
FY 2027 P/E14.2—

[1] KVYO forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).
KVYOS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)1.3
Rev Chg Q27.9%8.8%
Rev Chg LTM30.3%7.5%
Rev Chg 3Y Avg32.1%5.9%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.0
CFO LTM ($ Bil)0.2
Net Inc LTM ($ Bil)-0.0
Op Mgn LTM-3.2%18.4%
CFO/Rev LTM18.1%21.4%
Net Inc Mgn-0.7%13.0%
VALUATIONMODERATE
P/S3.33.3
P/CFO18.015.1
P/FCF21.219.5
P/E-496.624.3
STABILITYVERY GOOD
Debt/Equity0.030.21
Cash/Assets0.650.07

AI Analysis | Feedback

MetricValueDateSource
Number of Customers183,000+9302025Link
Customers with over $50,000 of ARR35639302025Link
Net Revenue Retention (NRR)109%9302025Link
International Revenue Growth (EMEA and APAC)43% year-over-year9302025Link
Percentage of customers using SMS offering18.2%12312024Link
Klaviyo Attributed Value (KAV)over $50 billion12312023Link

Price Chart

No Events

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/24/2026

Klaviyo (KVYO) stock has lost about 20% since 2/28/2026 because of the following key factors:

1. Klaviyo's fiscal Q1 2026 earnings beat was overshadowed by softer-than-expected fiscal Q2 2026 guidance and a key executive transition.

On May 5, 2026, Klaviyo reported strong fiscal Q1 2026 results, with earnings per share of $0.22 exceeding consensus estimates of $0.19-$0.20 and revenue of $358.01 million surpassing expectations of $348.57 million, marking a 27.9% year-over-year increase. Despite raising its full-year 2026 revenue guidance, the stock experienced a significant decline of 15.1% to 18.3% on the day. This sell-off was primarily driven by the company's fiscal Q2 2026 revenue outlook of $359-$363 million, which implied a deceleration in year-over-year growth to 23%-24% from Q1's 28%, and a lower projected non-GAAP operating margin of 13%-14% compared to Q1's 16.3%-16.4%. Adding to the uncertainty, Klaviyo also announced that its Chief Financial Officer, Amanda Whalen, planned to step down, although she will remain in her role through August 21, 2026.

2. Significant insider selling activity by a high-ranking executive contributed to negative market sentiment.

In the early part of the specified period, Co-Chief Executive Officer Andrew Bialecki executed multiple large sales of Klaviyo stock. On February 24, 2026, and March 3, 2026, Bialecki sold a total of 400,000 shares, amounting to approximately $7.1 million. These transactions, while part of a pre-scheduled Rule 10b5-1 trading plan, represent substantial insider selling that can be interpreted negatively by investors and add selling pressure to the stock, especially amidst broader market volatility.

Show more
Updated on 6/24/2026

Klaviyo (KVYO) stock has lost about 20% since 2/28/2026 because of the following key factors:

1. Klaviyo's fiscal Q1 2026 earnings beat was overshadowed by softer-than-expected fiscal Q2 2026 guidance and a key executive transition.

On May 5, 2026, Klaviyo reported strong fiscal Q1 2026 results, with earnings per share of $0.22 exceeding consensus estimates of $0.19-$0.20 and revenue of $358.01 million surpassing expectations of $348.57 million, marking a 27.9% year-over-year increase. Despite raising its full-year 2026 revenue guidance, the stock experienced a significant decline of 15.1% to 18.3% on the day. This sell-off was primarily driven by the company's fiscal Q2 2026 revenue outlook of $359-$363 million, which implied a deceleration in year-over-year growth to 23%-24% from Q1's 28%, and a lower projected non-GAAP operating margin of 13%-14% compared to Q1's 16.3%-16.4%. Adding to the uncertainty, Klaviyo also announced that its Chief Financial Officer, Amanda Whalen, planned to step down, although she will remain in her role through August 21, 2026.

2. Significant insider selling activity by a high-ranking executive contributed to negative market sentiment.

In the early part of the specified period, Co-Chief Executive Officer Andrew Bialecki executed multiple large sales of Klaviyo stock. On February 24, 2026, and March 3, 2026, Bialecki sold a total of 400,000 shares, amounting to approximately $7.1 million. These transactions, while part of a pre-scheduled Rule 10b5-1 trading plan, represent substantial insider selling that can be interpreted negatively by investors and add selling pressure to the stock, especially amidst broader market volatility.

3. Broader macroeconomic headwinds and a challenging environment for the tech software sector impacted Klaviyo's performance.

The period since late February 2026 has been characterized by a general downturn in the tech and software sectors. Concerns over potential interest rate hikes by the Federal Reserve, which could increase borrowing costs and reduce consumer spending, have weighed on investor sentiment. Geopolitical tensions, such as the conflict with Iran, have driven up gas prices and fueled inflation fears, further contributing to a cautious investment climate. The iShares Expanded Tech-Software ETF (IGV) experienced a decline of over 21% in fiscal Q1 2026, reflecting widespread worries about AI disrupting traditional software business models and questioning whether significant AI investments will yield adequate returns. These sector-wide and macroeconomic pressures created a difficult backdrop for growth-oriented software companies like Klaviyo.

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Stock Movement Drivers

Fundamental Drivers

The -19.2% change in KVYO stock from 2/28/2026 to 6/24/2026 was primarily driven by a -23.8% change in the company's P/S Multiple.
(LTM values as of)22820266242026Change
Stock Price ($)17.4114.06-19.2%
Change Contribution By: 
Total Revenues ($ Mil)1,2341,3126.3%
P/S Multiple4.33.3-23.8%
Shares Outstanding (Mil)303304-0.4%
Cumulative Contribution-19.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/24/2026
ReturnCorrelation
KVYO-19.2% 
Market (SPY)7.2%-3.3%
Sector (XLK)32.1%2.1%

Fundamental Drivers

The -50.8% change in KVYO stock from 11/30/2025 to 6/24/2026 was primarily driven by a -56.2% change in the company's P/S Multiple.
(LTM values as of)113020256242026Change
Stock Price ($)28.5614.06-50.8%
Change Contribution By: 
Total Revenues ($ Mil)1,1541,31213.7%
P/S Multiple7.43.3-56.2%
Shares Outstanding (Mil)301304-1.2%
Cumulative Contribution-50.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/24/2026
ReturnCorrelation
KVYO-50.8% 
Market (SPY)7.9%8.2%
Sector (XLK)28.3%14.0%

Fundamental Drivers

The -58.6% change in KVYO stock from 5/31/2025 to 6/24/2026 was primarily driven by a -64.8% change in the company's P/S Multiple.
(LTM values as of)53120256242026Change
Stock Price ($)34.0014.06-58.6%
Change Contribution By: 
Total Revenues ($ Mil)1,0071,31230.3%
P/S Multiple9.33.3-64.8%
Shares Outstanding (Mil)274304-9.9%
Cumulative Contribution-58.6%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/24/2026
ReturnCorrelation
KVYO-58.6% 
Market (SPY)25.8%14.2%
Sector (XLK)59.5%16.0%

Fundamental Drivers

null
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Market Drivers

5/31/2023 to 6/24/2026
ReturnCorrelation
KVYO  
Market (SPY)82.4%35.8%
Sector (XLK)127.5%33.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
KVYO Return---15%48%-21%-58%-59%
Peers Return37%-52%93%12%-5%-47%-29%
S&P 500 Return27%-19%24%23%16%8%96%

Monthly Win Rates [3]
KVYO Win Rate--50%67%50%33% 
Peers Win Rate62%32%62%50%45%17% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
KVYO Max Drawdown----30%-52%-60% 
Peers Max Drawdown-21%-58%-22%-31%-38%-50% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: HUBS, CRM, ADBE, INTU, SHOP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/24/2026 (YTD)

How Low Can It Go

EventKVYOS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.9%-9.5%
  % Gain to Breakeven31.4%10.5%
  Time to Breakeven313 days24 days

Compare to HUBS, CRM, ADBE, INTU, SHOP

In The Past

Klaviyo's stock fell -4.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 4.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventKVYOS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.9%-9.5%
  % Gain to Breakeven31.4%10.5%
  Time to Breakeven313 days24 days

Compare to HUBS, CRM, ADBE, INTU, SHOP

In The Past

Klaviyo's stock fell -4.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 4.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Klaviyo (KVYO)

Klaviyo (KVYO) provides a powerful Software-as-a-Service (SaaS) platform designed to help businesses of all sizes effectively capture, store, analyze, and predictively use their own first-party data. The company's core mission is to drive revenue growth for its customers by enabling them to create and deliver highly personalized consumer experiences across digital channels such as email, SMS, and push notifications. Klaviyo addresses key challenges faced by businesses, including the complexity of consumer data, the unreliability of third-party data, and the limitations of fragmented marketing solutions, by offering a vertically integrated solution that combines a proprietary data layer with an advanced application layer, featuring machine learning and artificial intelligence capabilities.

The company's main offering is its subscription-based platform, with pricing tiered based on the number of active consumer profiles stored and messages sent. This platform integrates with over 300 third-party data sources, allowing customers to centralize first-party data, generate unified consumer profiles, and then use these profiles for rapid segmentation and highly personalized campaign creation. Klaviyo has also expanded its product suite, launching Klaviyo Reviews to help customers collect product feedback, and a Customer Data Platform (CDP) for enhanced data transformation, cleansing, advanced reporting, and predictive analytics, further strengthening its core offering.

Klaviyo primarily serves the retail and eCommerce sectors, catering to a diverse customer base that spans entrepreneurs, small and medium-sized businesses (SMBs), and increasingly, mid-market and enterprise-level companies. The company employs a product-led go-to-market strategy, attracting new customers efficiently through inbound channels, self-service options, and strong partnerships. While its roots are in eCommerce, Klaviyo is actively exploring and seeing organic demand from other verticals such as education, wellness, and B2B, demonstrating the extensibility of its platform and its potential for continued expansion.

AI Analysis | Feedback

1. Klaviyo is like **HubSpot for advanced, data-driven e-commerce marketing**, focusing on AI-powered personalization across email, SMS, and push notifications.

2. Klaviyo is an **intelligent Mailchimp that also handles SMS and push messages**, powered by deep customer data and AI to hyper-personalize communications.

AI Analysis | Feedback

  • Klaviyo Core Platform: A vertically-integrated SaaS platform that leverages first-party data, machine learning, and AI to help businesses deliver personalized consumer experiences across digital channels.
  • Email Marketing Service: Enables customers to send highly personalized email campaigns and automations.
  • SMS Marketing Service: Allows customers to send personalized SMS messages to consumers.
  • Klaviyo Reviews: A product designed for collecting product reviews and integrating them with consumer data and messaging.
  • Klaviyo Customer Data Platform (CDP): An advanced offering that provides tools for data transformation, cleansing, enhanced reporting, predictive analysis, and scalable data synchronization.

AI Analysis | Feedback

Klaviyo (KVYO) sells its SaaS platform primarily to other businesses. The provided background information does not list the names of specific customer companies, public or otherwise. Instead, it describes categories of businesses that utilize Klaviyo's services. Klaviyo serves the following categories of customers:
  • Entrepreneurs and Small and Medium-sized Businesses (SMBs): Klaviyo initially focused on and continues to serve entrepreneurs and SMBs, which form a significant portion of its customer base.
  • Mid-market and Enterprise Companies: As Klaviyo's platform and its customers have grown, it has attracted and is actively targeting larger mid-market companies and enterprises that seek to enhance consumer engagement.
  • Businesses Across Various Verticals, Primarily Retail and eCommerce: While its core customer base operates within the retail and eCommerce sectors, Klaviyo also sees demand from and is expanding into other verticals, including education, events and entertainment, restaurants, travel, and business-to-business (B2B) companies.

AI Analysis | Feedback

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AI Analysis | Feedback

Andrew Bialecki, Co-Chief Executive Officer, Co-Founder, and Chairperson

Andrew Bialecki co-founded Klaviyo in 2012. Prior to founding Klaviyo, he worked as a software engineer and product manager at Applied Predictive Technologies (APT), which was later acquired by Mastercard. He also held roles as a Senior Engineer at Performable, a marketing software startup that was subsequently acquired by HubSpot, and as Chief Technology Officer at RockTech. Mr. Bialecki studied Physics, Astronomy, and Astrophysics at Harvard University. He notably bootstrapped Klaviyo for its initial three years before seeking venture capital and held a 38% ownership stake when the company went public in 2023.

Chano Fernández, Co-Chief Executive Officer

Chano Fernández assumed the role of Co-Chief Executive Officer at Klaviyo in January 2026. Before joining Klaviyo, he served as Co-Chief Executive Officer for Eightfold.ai, an AI talent intelligence platform, from January 2024 to August 2025. Earlier in his career, he was Co-Chief Executive Officer of Workday from August 2020 to December 2022, where he also served as a director.

Amanda Whalen, Chief Financial Officer

Amanda Whalen was appointed Chief Financial Officer of Klaviyo in May 2022. Her extensive financial background includes serving as Executive Vice President and Chief Financial Officer of Walmart International, where she oversaw finances across eight international markets with over $90 billion in revenue. She also held the position of Senior Vice President and Treasurer for Walmart. Prior to Walmart, Ms. Whalen was CFO and Chief Administrative Officer for DaVita Rx, a part of the Fortune 500 healthcare company DaVita Inc. She also held various strategic and finance roles in the food industry at C&S Wholesale Grocers, Saputo Dairy Foods, and Dean Foods. Ms. Whalen began her career at Bain & Company, where she spent over a decade advising C-level executives on business and operational strategies. She earned her bachelor's degree from Princeton University and an MBA from MIT's Sloan School of Management, and led Klaviyo's IPO.

Ed Hallen, Co-Founder and Chief Strategy Officer

Ed Hallen co-founded Klaviyo in 2012 with Andrew Bialecki. He currently serves as Chief Strategy Officer, having previously been Chief Product Officer. Before Klaviyo, Mr. Hallen worked at Applied Predictive Technologies (APT), where he led product management, and APT was later acquired by Mastercard. He also gained experience in enterprise business development at Google and worked at Accel-KKR. In 2017, he briefly stepped away from Klaviyo to establish Team Engine, an HR automation firm, before rejoining Klaviyo in 2021. Mr. Hallen holds a degree in systems engineering from the University of Virginia and an MBA from MIT.

AI Analysis | Feedback

The key risks to Klaviyo's business include intense competition in the marketing technology sector, customer concentration in the retail and e-commerce vertical, and potential challenges related to net revenue retention and its evolving pricing strategy.

  1. Intense Competition and Rapid Market Evolution: Klaviyo operates in a highly competitive and rapidly evolving front-office software market, particularly within email marketing and customer engagement. The company faces significant threats from established players and innovative startups, including competitors like Mailchimp, Braze, Adobe, and Salesforce. To maintain its competitive edge and market share, Klaviyo must continually innovate and differentiate its offerings to keep pace with technological changes, especially in areas like AI and machine learning.
  2. Customer Concentration in Retail/eCommerce and Sensitivity to Macroeconomic Factors: Klaviyo's customer base primarily operates within the retail and e-commerce vertical, with a strong focus on small and medium-sized businesses (SMBs). This concentration makes the company particularly susceptible to economic slowdowns, as SMBs tend to be more sensitive to macroeconomic changes and may optimize their IT spending. Such a scenario could lead to increased customer churn and reduced net revenue retention.
  3. Challenges with Net Revenue Retention and Impact of Pricing Strategy: While Klaviyo's Net Revenue Retention (NRR) was 110% as of December 31, 2025, showing a year-over-year increase, it is lower than the 119% reported as of June 30, 2023. Furthermore, Klaviyo's transition to a new active profile-based pricing model from its previous send-based tier structure has reportedly led to increased costs for some customers and resulted in some customer churn. If this trend of customer reconsideration or churn continues, it could negatively impact Klaviyo's revenue growth and market share.

AI Analysis | Feedback

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AI Analysis | Feedback

Klaviyo's estimated addressable markets for its main products and services encompass various regions and verticals. Within its core retail and e-commerce segments, Klaviyo estimates its serviceable addressable market (SAM) to be over $16 billion. This market opportunity is calculated for the geographies where Klaviyo primarily operates, including North America, Western Europe, New Zealand, and Australia. Expanding beyond its initial focus, Klaviyo estimates its total addressable market (TAM) across all verticals in the United States alone to be $34 billion. On a global scale, the company's estimated total addressable market is $68 billion. This global TAM is projected to increase to approximately $160 billion by 2026, driven by the transition to a more comprehensive B2C CRM platform.

AI Analysis | Feedback

Klaviyo (KVYO) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
  1. Customer Growth and Expansion: Klaviyo is focused on both attracting new customers and expanding its relationship with existing ones. The company is actively penetrating the mid-market and enterprise segments, as evidenced by the significant year-over-year growth in customers generating over $50,000 of Annual Recurring Revenue (ARR). Klaviyo's "land-and-expand" model encourages existing customers to increase their usage of the platform, leading to higher Net Revenue Retention (NRR).
  2. International Expansion: Klaviyo continues to see strong growth in its international markets, particularly in regions like EMEA and APAC. International revenue growth is outpacing the overall business, supported by investments in deeper localizations and new regional hubs.
  3. New Product Offerings and AI Capabilities: The company is investing in and launching new products and features, notably its Reviews and Customer Data Platform (CDP) products. Klaviyo is also heavily focused on integrating advanced Artificial Intelligence (AI) into its platform, with newly launched AI-driven products being the fastest-growing in its history. These AI capabilities are designed to enhance customer engagement and streamline marketing efforts, driving increased platform adoption and value.
  4. Multi-Product Adoption: Klaviyo's strategy involves customers adopting a broader range of its offerings, such as text messaging and WhatsApp. The shift towards autonomous customer experiences is expected to accelerate multi-product adoption and reinforce the durability of Klaviyo's growth model.

AI Analysis | Feedback

Share Issuance

  • Klaviyo has raised $454.8 million in primary capital since its inception.

Inbound Investments

  • Klaviyo has received $454.8 million in primary capital from investors since its inception.

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Financials

KVYOHUBSCRMADBEINTUSHOPMedian
NameKlaviyo HubSpot Salesfor.Adobe Intuit Shopify  
Mkt Price14.06180.73152.76196.57262.24114.17166.75
Mkt Cap4.39.5132.679.072.4148.875.7
Rev LTM1,3123,29842,82925,19820,92512,36616,646
Op Inc LTM-42679,3669,0905,7492,1053,927
FCF LTM20260714,66110,2807,7152,1204,918
FCF 3Y Avg15146112,8818,6956,2931,6333,963
CFO LTM23879815,22110,4817,8882,1475,018
CFO 3Y Avg17460913,5118,8936,4801,6584,069

Growth & Margins

KVYOHUBSCRMADBEINTUSHOPMedian
NameKlaviyo HubSpot Salesfor.Adobe Intuit Shopify  
Rev Chg LTM30.3%21.1%11.0%11.5%15.1%31.8%18.1%
Rev Chg 3Y Avg-21.6%10.0%11.0%14.2%28.0%14.2%
Rev Chg Q27.9%23.4%13.3%12.7%10.4%34.3%18.3%
QoQ Delta Rev Chg LTM6.3%5.3%3.1%3.0%4.0%7.0%4.7%
Op Inc Chg LTM50.7%199.0%18.2%10.6%23.1%45.9%34.5%
Op Inc Chg 3Y Avg-77.7%53.7%13.6%23.7%164.0%53.7%
Op Mgn LTM-3.2%2.0%21.9%36.1%27.5%17.0%19.4%
Op Mgn 3Y Avg-19.6%-1.8%20.3%35.9%25.7%12.4%16.4%
QoQ Delta Op Mgn LTM2.3%1.7%0.4%-0.6%0.4%0.7%0.6%
CFO/Rev LTM18.1%24.2%35.5%41.6%37.7%17.4%29.9%
CFO/Rev 3Y Avg16.9%21.6%34.5%38.8%35.2%16.9%28.1%
FCF/Rev LTM15.4%18.4%34.2%40.8%36.9%17.1%26.3%
FCF/Rev 3Y Avg14.8%16.3%32.9%37.9%34.1%16.6%24.7%

Valuation

KVYOHUBSCRMADBEINTUSHOPMedian
NameKlaviyo HubSpot Salesfor.Adobe Intuit Shopify  
Mkt Cap4.39.5132.679.072.4148.875.7
P/S3.32.93.13.13.512.03.2
P/Op Inc-101.2141.914.28.712.670.713.4
P/EBIT-101.279.613.38.411.970.712.6
P/E-495.294.616.510.915.8111.716.2
P/CFO18.011.98.77.59.269.310.5
Total Yield-0.2%1.1%6.9%9.1%8.2%0.9%4.0%
Dividend Yield0.0%0.0%0.9%0.0%1.8%0.0%0.0%
FCF Yield 3Y Avg2.3%2.4%5.9%6.4%4.3%1.3%3.3%
D/E0.00.00.30.10.10.00.1
Net D/E-0.2-0.20.20.0-0.0-0.0-0.0

Returns

KVYOHUBSCRMADBEINTUSHOPMedian
NameKlaviyo HubSpot Salesfor.Adobe Intuit Shopify  
1M Rtn-5.4%-10.5%-14.9%-19.7%-18.0%10.8%-12.7%
3M Rtn-22.5%-24.1%-15.6%-17.1%-38.4%-3.6%-19.8%
6M Rtn-56.6%-54.5%-42.1%-44.3%-60.9%-32.6%-49.4%
12M Rtn-57.3%-67.6%-43.2%-48.6%-65.2%-0.2%-53.0%
3Y Rtn-57.1%-64.7%-26.0%-59.4%-40.8%79.0%-49.0%
1M Excs Rtn-3.9%-9.0%-13.4%-18.1%-16.5%12.4%-11.2%
3M Excs Rtn-34.2%-36.3%-28.3%-29.9%-51.4%-13.9%-32.1%
6M Excs Rtn-63.7%-61.3%-48.6%-52.4%-68.4%-40.3%-56.8%
12M Excs Rtn-78.8%-88.4%-63.6%-70.4%-87.5%-18.3%-74.6%
3Y Excs Rtn-124.0%-132.1%-93.5%-127.2%-108.0%9.6%-116.0%

Financials

$ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
Filing Date5/5/20262/10/202611/5/20258/5/20255/6/20252/19/202511/6/20248/7/20245/8/20242/29/202411/7/20239/20/2023
Key Financials Quarterly            
Total Revenue358350311293280270235222210202176165
Ebitda84-6-27-19-30-9-10-18-33-29910
Operating Income2-2-11-31-24-35-13-14-22-36-3027
Net Income97-0-24-14-27-1-5-13-26-29711
EPS0.030.020.00-0.09-0.05-0.10-0.01-0.02-0.05-0.10-1.240.04
Key Financials TTM            
Total Revenue TTM1,3121,2341,1541,0781,007937869810752698642585
Ebitda TTM-22-49-83-85-67-66-69-359-339-317-286-10
Operating Income TTM-42-68-101-103-86-84-86-375-354-331-298-22
Net Income TTM-9-32-66-67-47-46-45-341-325-308-283-9
Growth Rates Quarterly            
Total Revenue Growth27.9%29.6%32.2%31.9%33.3%34.0%33.7%35.0%34.5%38.8%47.5%-
EBITDA Growth142.6%112.3%25.9%-179.0%-4.7%8.6%97.1%-196.3%-533.5%-2493.9%-1168.5%-
Operating Income Growth107.3%94.7%18.4%-122.9%-7.5%4.6%95.6%-299.8%-2616.2%-791.1%-1077.6%-
Net Income Growth164.1%126.1%68.3%-391.3%-9.4%-2.6%99.5%-145.4%-401.1%-3382.8%-1144.5%-
Margins Quarterly            
EBITDA Margin2.3%1.0%-2.1%-9.3%-6.8%-11.0%-3.7%-4.4%-8.6%-16.1%-170.0%6.2%
Operating Income Margin0.5%-0.5%-3.5%-10.7%-8.5%-12.8%-5.6%-6.3%-10.5%-18.0%-171.9%4.3%
Net Income Margin2.5%2.0%-0.1%-8.3%-5.0%-10.0%-0.6%-2.2%-6.1%-13.0%-169.0%6.6%
Cash & Debt            
Total Cash9851,065980936888881827794756739723439
Total Debt1171211139910353424548525456
Net Debt / (Cash)-867-944-867-836-786-828-784-748-707-687-669-382
Cash Flows Quarterly            
FCF from Operations349355561460394126392441
Cash Flows TTM            
FCF from Operations TTM23821818516915416614512913011910261
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases100-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC0.5%-0.6%-2.6%-11.0%-7.8%-13.2%-2.7%-5.4%-8.5%-13.8%-119.8%3.3%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-3.7%-6.0%-8.7%-9.0%-7.5%-8.0%-8.1%-35.8%-33.9%-32.2%-29.6%-2.7%

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment1,234937698473291
Total1,234937698473291


Price Behavior

Price Behavior
Market Price$14.06 
Market Cap ($ Bil)4.3 
First Trading Date09/20/2023 
Distance from 52W High-60.9% 
   50 Days200 Days
DMA Price$16.45$23.13
DMA Trenddowndown
Distance from DMA-14.5%-39.2%
 3M1YR
Volatility95.0%68.9%
Downside Capture109.87200.80
Upside Capture-22.7151.19
Correlation (SPY)-5.4%13.5%
KVYO Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-4.60-1.40-0.420.550.85-0.04
Up Beta-20.24-4.16-2.12-0.80-0.100.25
Down Beta-2.12-2.58-0.98-0.110.660.40
Up Capture-203%-39%7%33%43%116%
Bmk +ve Days13283667141432
Stock +ve Days11233363126336
Down Capture193%245%70%192%159%111%
Bmk -ve Days7132757109318
Stock -ve Days9183060122333

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with KVYO
KVYO-58.1%68.9%-0.96-
Sector ETF (XLK)51.6%23.5%1.7015.7%
Equity (SPY)23.3%12.5%1.4014.1%
Gold (GLD)17.7%27.7%0.57-10.7%
Commodities (DBC)18.2%18.6%0.765.4%
Real Estate (VNQ)11.6%13.8%0.56-6.4%
Bitcoin (BTCUSD)-40.6%42.4%-1.1115.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with KVYO
KVYO-16.1%62.0%-0.27-
Sector ETF (XLK)21.8%25.3%0.7633.7%
Equity (SPY)13.2%17.1%0.6035.9%
Gold (GLD)16.4%18.3%0.73-2.1%
Commodities (DBC)6.9%19.5%0.2611.1%
Real Estate (VNQ)2.7%18.9%0.0415.2%
Bitcoin (BTCUSD)10.4%54.1%0.3922.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with KVYO
KVYO-8.4%62.0%-0.27-
Sector ETF (XLK)25.1%24.7%0.9233.7%
Equity (SPY)15.3%18.0%0.7335.9%
Gold (GLD)11.5%16.1%0.59-2.1%
Commodities (DBC)5.7%18.0%0.2411.1%
Real Estate (VNQ)5.6%20.7%0.2315.2%
Bitcoin (BTCUSD)57.2%66.5%0.9722.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity25.6 Mil
Short Interest: % Change Since 515202617.4%
Average Daily Volume7.5 Mil
Days-to-Cover Short Interest3.4 days
Basic Shares Quantity304.3 Mil
Short % of Basic Shares8.4%

Returns Analyses

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-32.2%-38.1%-32.4%
2/10/2026-3.7%-13.7%-8.8%
11/5/20257.1%9.1%13.3%
8/5/202515.0%-1.2%1.5%
5/6/20256.4%18.7%7.4%
2/19/2025-5.8%-13.8%-30.0%
11/6/2024-16.3%-9.1%-1.5%
8/7/202433.4%31.1%28.3%
...
SUMMARY STATS   
# Positive545
# Negative676
Median Positive11.8%16.9%7.4%
Median Negative-10.6%-13.8%-10.6%
Max Positive33.4%31.1%28.3%
Max Negative-32.2%-38.1%-32.4%
 Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-32.2%-38.1%-32.4%
2/10/2026-3.7%-13.7%-8.8%
11/5/20257.1%9.1%13.3%
8/5/202515.0%-1.2%1.5%
5/6/20256.4%18.7%7.4%
2/19/2025-5.8%-13.8%-30.0%
11/6/2024-16.3%-9.1%-1.5%
8/7/202433.4%31.1%28.3%
5/8/202411.8%15.2%4.5%
2/27/2024-4.3%-14.1%-9.7%
11/7/2023-15.3%-15.7%-11.6%
SUMMARY STATS   
# Positive545
# Negative676
Median Positive11.8%16.9%7.4%
Median Negative-10.6%-13.8%-10.6%
Max Positive33.4%31.1%28.3%
Max Negative-32.2%-38.1%-32.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/10/202610-K
09/30/202511/05/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/19/202510-K
09/30/202411/06/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202302/29/202410-K
09/30/202311/07/202310-Q
06/30/202309/20/2023424B4
 Collapse to Preview
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/10/202610-K
09/30/202511/05/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/19/202510-K
09/30/202411/06/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202302/29/202410-K
09/30/202311/07/202310-Q
06/30/202309/20/2023424B4

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue359.00 Mil361.00 Mil363.00 Mil   
Q2 2026 Revenue Growth23.0%23.5%24.0%   
Q2 2026 Non-GAAP Operating Income47.50 Mil49.00 Mil50.50 Mil   
Q2 2026 Non-GAAP Operating Margin13.0%13.5%14.0%   
2026 Revenue1.51 Bil1.52 Bil1.52 Bil0.9% RaisedGuidance: 1.50 Bil for 2026
2026 Revenue Growth 23.0% 4.5%1.0%RaisedGuidance: 22.0% for 2026
2026 Non-GAAP Operating Income222.00 Mil225.00 Mil228.00 Mil1.8% RaisedGuidance: 221.00 Mil for 2026
2026 Non-GAAP Operating Margin14.5%14.75%15.0%00AffirmedGuidance: 14.75% for 2026

Prior: Q4 2025 Earnings Reported 2/10/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue346.00 Mil348.00 Mil350.00 Mil4.5% Higher NewGuidance: 333.00 Mil for Q4 2025
Q1 2026 Revenue Growth23.5%24.25%25.0%3.2% Higher NewGuidance: 23.5% for Q4 2025
Q1 2026 Non-GAAP Operating Income50.00 Mil51.50 Mil53.00 Mil14.4% Higher NewGuidance: 45.00 Mil for Q4 2025
Q1 2026 Non-GAAP Operating Margin14.5%14.75%15.0%9.3%1.2%Higher NewGuidance: 13.5% for Q4 2025
2026 Revenue1.50 Bil1.50 Bil1.51 Bil23.7% Higher NewActual: 1.22 Bil for 2025
2026 Revenue Growth21.5%22.0%22.5%-26.7% Lower NewActual: 30.0% for 2025
2026 Non-GAAP Operating Income218.00 Mil221.00 Mil224.00 Mil35.3% Higher NewActual: 163.30 Mil for 2025
2026 Non-GAAP Operating Margin14.5%14.75%15.0%9.3%1.2%Higher NewActual: 13.5% for 2025

Insider Activity

Updated 6/18/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Whalen, AmandaChief Financial OfficerDirectSell618202613.2314,000185,22011,274,500Form
2Bialecki, AndrewCo-Chief Executive OfficerDirectSell528202614.61212,529  Form
3Bialecki, AndrewCo-Chief Executive OfficerDirectSell520202614.88200,000  Form
4St., Ledger Susan DirectSell520202614.279,334133,196156,100Form
5Whalen, AmandaChief Financial OfficerDirectSell518202614.2614,000199,64012,764,711Form
 Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Whalen, AmandaChief Financial OfficerDirectSell618202613.2314,000185,22011,274,500Form
2Bialecki, AndrewCo-Chief Executive OfficerDirectSell528202614.61212,529  Form
3Bialecki, AndrewCo-Chief Executive OfficerDirectSell520202614.88200,000  Form
4St., Ledger Susan DirectSell520202614.279,334133,196156,100Form
5Whalen, AmandaChief Financial OfficerDirectSell518202614.2614,000199,64012,764,711Form
6Bialecki, AndrewCo-Chief Executive OfficerDirectSell514202614.61200,000  Form
7Edmond, LandonChief Legal OfficerDirectSell422202620.009,623192,46011,682,480Form
8Bialecki, AndrewCo-Chief Executive OfficerDirectSell416202617.19200,000  Form
9Bialecki, AndrewCo-Chief Executive OfficerDirectSell409202618.63200,000  Form
10Bialecki, AndrewCo-Chief Executive OfficerDirectSell402202619.42200,000  Form
11Bialecki, AndrewCo-Chief Executive OfficerDirectSell326202618.17200,000  Form
12Bialecki, AndrewCo-Chief Executive OfficerDirectSell319202619.37200,000  Form
13Bialecki, AndrewCo-Chief Executive OfficerDirectSell312202619.96206,827  Form
14Edmond, LandonChief Legal OfficerDirectSell305202620.1615,093304,2756,586,836Form
15Bialecki, AndrewCo-Chief Executive OfficerDirectSell305202618.64200,000  Form
16Bialecki, AndrewCo-Chief Executive OfficerDirectSell226202616.76200,000  Form
17Whalen, AmandaChief Financial OfficerDirectSell218202618.8814,000264,3478,349,941Form
18Ceran, Jennifer DirectBuy217202618.3816,339300,311564,101Form
19Bialecki, AndrewCo-Chief Executive OfficerDirectSell129202625.33155,219  Form
20Bialecki, AndrewCo-Chief Executive OfficerDirectSell122202624.16167,926  Form
21Whalen, AmandaChief Financial OfficerDirectSell116202625.8314,000361,66311,423,861Form
22Edmond, LandonChief Legal OfficerDirectSell116202625.8310,000258,3378,883,729Form
23Bialecki, AndrewCo-Chief Executive OfficerDirectSell115202627.41140,646  Form
24Bialecki, AndrewChief Executive OfficerDirectSell1223202532.97100,000  Form
25Edmond, LandonChief Legal OfficerDirectSell1219202531.3814,190445,30211,105,310Form
26Whalen, AmandaChief Financial OfficerDirectSell1219202531.3814,000439,36314,190,602Form
27Hallen, Ed Hodgkins TrustSell1219202530.3534,8781,058,5474,055,488Form
28Hallen, Ed Hodgkins LLCSell1219202530.3782,6722,510,74915,951,721Form
29Bialecki, AndrewChief Executive OfficerDirectSell1217202530.40100,000  Form
30Bialecki, AndrewChief Executive OfficerDirectSell1217202529.04138,648  Form
31Rowland, Stephen EricPresidentDirectSell1217202529.457,104209,21712,790,242Form
32Hallen, Ed Hodgkins TrustSell1217202530.131574,7305,076,965Form
33Hallen, Ed Hodgkins LLCSell1217202530.1560018,09018,328,728Form
34Bialecki, AndrewChief Executive OfficerDirectSell1211202530.0017,777  Form
35Bialecki, AndrewChief Executive OfficerDirectSell1211202530.1282,223  Form
36Bialecki, AndrewChief Executive OfficerDirectSell1211202529.42131,362  Form
37Bialecki, AndrewChief Executive OfficerDirectSell1204202530.00952  Form
38Bialecki, AndrewChief Executive OfficerDirectSell1204202528.62142,045  Form
39Bialecki, AndrewChief Executive OfficerDirectSell1126202527.76144,717  Form
40Edmond, LandonChief Legal OfficerDirectSell1121202527.5914,394397,12810,386,793Form
41Bialecki, AndrewChief Executive OfficerDirectSell1120202527.16147,329  Form
42Rowland, Stephen EricPresidentDirectSell1118202527.397,104194,57912,089,891Form
43Galvin, CarmelChief People OfficerDirectSell1118202527.5111,156306,92517,603,879Form
44Whalen, AmandaChief Financial OfficerDirectSell1118202528.6015,000428,93413,775,044Form
45Bialecki, AndrewChief Executive OfficerDirectSell1113202529.74140,464  Form
46Hallen, Ed Hodgkins TrustSell1112202530.0054516,3505,059,770Form
47Hallen, Ed Hodgkins LLCSell1112202530.002,26667,98018,255,540Form
48Hallen, Ed Hodgkins TrustSell1112202530.058,572257,5895,084,580Form
49Hallen, Ed Hodgkins LLCSell1112202530.0450,9201,529,63719,564,932Form
50Rowland, Stephen EricPresidentDirectSell1016202524.357,105173,00710,507,415Form
51Bialecki, AndrewChief Executive OfficerDirectSell1016202524.37163,331  Form
52Whalen, AmandaChief Financial OfficerDirectSell1010202525.0315,000375,38112,055,212Form
53Bialecki, AndrewChief Executive OfficerDirectSell1009202525.30159,508  Form
54Bialecki, AndrewChief Executive OfficerDirectSell1002202528.86137,224  Form
55Bialecki, AndrewChief Executive OfficerDirectSell925202535.45211,358  Form
56Bialecki, AndrewChief Executive OfficerDirectSell917202532.35226,382  Form
57Hallen, Ed Hodgkins TrustSell917202531.6522,224703,3905,626,610Form
58Hallen, Ed Hodgkins LLCSell917202531.7367,5242,142,53722,924,163Form
59Rowland, Stephen EricPresidentDirectSell917202531.887,105226,51813,983,861Form
60Whalen, AmandaChief Financial OfficerDirectSell912202531.5015,000472,50015,174,148Form
61St., Ledger Susan DirectSell912202532.203,413109,899352,236Form
62Bialecki, AndrewChief Executive OfficerDirectSell911202531.96220,481  Form
63Summit, Partners L P See footnotesSell910202531.874,000,000  Form
64Bialecki, AndrewChief Executive OfficerDirectSell904202531.00223,304  Form
65Bialecki, AndrewChief Executive OfficerDirectSell828202531.50226,702  Form
66Summit, Partners L PSee footnoteSell827202530.01975,000  Form
67Galvin, CarmelChief People OfficerDirectSell819202531.6711,155353,27921,403,631Form
68Rowland, Stephen EricPresidentDirectSell819202531.467,105223,52314,022,540Form
69Edmond, LandonChief Legal OfficerDirectSell819202531.469,965313,49912,350,693Form
70Whalen, AmandaChief Financial OfficerDirectSell819202531.3215,000469,80015,206,330Form
71Summit, Partners L P See footnotesSell815202530.016,500,000195,065,00015,005,000Form
72Rowland, Stephen EricPresidentDirectSell716202531.567,079223,41313,755,268Form
73Whalen, AmandaChief Financial OfficerDirectSell714202531.6615,000474,83216,392,182Form
74Rowland, Stephen EricPresidentDirectSell617202534.567,079244,63215,306,288Form
75Whalen, AmandaChief Financial OfficerDirectSell613202533.4715,000502,05017,331,804Form
76Summit, Partners L P See footnotesSell605202533.354,000,000  Form

Industry Resources

External Quote Links


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