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Friday 6 November 2026
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Klaviyo, Inc.
KVYO Technology Software Application
Klaviyo, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 31.6% from fiscal 2024.
- Revenue
- +24.6%
- EPS
- +66.7%
- Free cash flow
- −14.8%
Quarter to September 2026, against a year earlier
20.84
0.52
−2.43%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 291 | 473 | 698 | 937 | 1,234 | 1,466 | +43.5% | 1,531 | 1,829 | 2,181 | +20.9% | |
| Gross margin, % | — | — | — | — | — | 70.86 | 72.92 | 74.52 | 76.39 | 74.67 | 73.54 | +3.8 pt | ||||||
| EBT | — | — | — | — | — | (79) | (49) | (307) | (44) | (31) | 13 | (21.2%) | ||||||
| EBT margin, % | — | — | — | — | — | (27.21) | (10.39) | (43.98) | (4.66) | (2.47) | 0.91 | +24.7 pt | ||||||
| Net income | — | — | — | — | — | (79) | (49) | (308) | (46) | (32) | 8 | (20.5%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 1.32 | 2.06 | 2.87 | 3.52 | 4.24 | 5.14 | +34.0% | |||||
| Earnings | — | — | — | — | — | (0.36) | (0.21) | (1.27) | (0.17) | (0.11) | 0.02 | (25.6%) | ||||||
| Cash flow | — | — | — | — | — | (0.10) | (0.10) | 0.49 | 0.62 | 0.75 | 0.96 | n/m | ||||||
| Capex | — | — | — | — | — | (0.06) | (0.08) | (0.04) | (0.06) | (0.10) | (0.16) | +11.0% | ||||||
| Free cash flow | — | — | — | — | — | (0.17) | (0.18) | 0.45 | 0.56 | 0.65 | 0.80 | n/m | ||||||
| Book value | — | — | — | — | — | 0.00 | (4.51) | 3.77 | 3.88 | 4.11 | 3.03 | n/m | ||||||
| Shares, m | — | — | — | — | — | 221 | 230 | 243 | 266 | 291 | 294 | +7.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,120.43 | 0.0 | |||||
| P/S | — | — | — | — | — | 0.00 | 0.00 | 9.40 | 11.72 | 7.65 | 4.06 | 5.8 | ||||||
| P/B | — | — | — | — | — | 0.00 | 0.00 | 7.17 | 10.62 | 7.89 | 6.87 | 5.1 | ||||||
| EV/Sales | — | — | — | — | — | 0.00 | 0.00 | 8.34 | 10.78 | 6.79 | 3.57 | 5.2 | ||||||
| EV/FCF | — | — | — | — | — | 633.56 | 633.56 | 52.92 | 67.92 | 44.21 | 22.84 | 286.4 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (23) | (24) | 119 | 166 | 218 | 274 | n/m | |||||
| Capex | — | — | — | — | — | (14) | (18) | (9) | (17) | (28) | (44) | +18.9% | ||||||
| Free cash flow | — | — | — | — | — | (37) | (42) | 110 | 149 | 190 | 229 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 272 | 343 | 673 | 780 | 924 | 573 | +35.7% | |||||
| Net debt | — | — | — | — | — | (328) | (386) | (739) | (882) | (1,066) | (706) | +34.3% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | (1,036) | 915 | 1,034 | 1,197 | 866 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | (15.64) | (35.88) | (3.91) | (2.23) | 0.57 | (2.2) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | (117.54) | (34.54) | (32.34) | (7.66) | (32.3) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 3.01 | 507.77 | (4.74) | (2.85) | 0.79 | (2.8) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 1,548 | 1,815 | 2,182 | 2,368 | — | +15.2% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.31 | 0.38 | 0.43 | 0.52 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Business profile
Klaviyo, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| NAVN Navan, Inc. | $6.6B | — (loss-making) | — (loss-making) | +35.38% (above 0%: growing) | n/m | +618.65% (above 0%: growing) | 74.09% | (10.98%) | Compare |
| CVLT CommVault Systems, Inc. | $6.5B | 81.0× | 62.1× | +13.11% (above 0%: growing) | +113.79% (above 0%: growing) | −3.69% (below 0%: shrinking) | 81.15% | 9.72% | Compare |
| RNG Ringcentral, Inc. | $6.3B | 9.5× | 10.0× | +5.85% (above 0%: growing) | +3,442.11% (above 0%: growing) | +21.03% (above 0%: growing) | 73.12% | 7.97% | Compare |
| KVYO Klaviyo, Inc. | $5.9B | 1,120× | — (loss-making) | +24.55% (above 0%: growing) | n/m | −14.79% (below 0%: shrinking) | 74.22% | (1.16%) | |
| NIQ NIQ Global Intelligence plc | $5.9B | — (loss-making) | — (loss-making) | +8.01% (above 0%: growing) | n/m | +199.46% (above 0%: growing) | 55.52% | 5.81% | Compare |
| OCTV Octave Intelligence plc | $5.6B | — | — | — | — | — | — | — | Compare |
| NICE Nice | $5.6B | 13.8× | 15.7× | +7.65% (above 0%: growing) | −53.16% (below 0%: shrinking) | +141.20% (above 0%: growing) | 64.04% | 13.29% | Compare |
| PEGA Pegasystems Inc. | $5.5B | 19.3× | 31.6× | +3.15% (above 0%: growing) | −64.00% (below 0%: shrinking) | −96.98% (below 0%: shrinking) | 73.60% | 3.78% | Compare |
| BRZE Braze, Inc. | $5.2B | — (loss-making) | — (loss-making) | +26.16% (above 0%: growing) | n/m | +515.45% (above 0%: growing) | 66.83% | (7.98%) | Compare |
| Median of peers | $5.8B | 16.6× | 23.7× | +8.01% | +30.32% | +141.20% | 73.12% | 5.81% |
From the latest earnings call
- Co-CEO Andrew Bialecki said Composer had more than 95,000 users in its first month, while Customer Agent adoption grew 40% quarter over quarter.
- CFO Amanda Whalen said Klaviyo raised its full-year revenue outlook but lowered its non-GAAP operating income guide, including acquisition costs and product investment.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
51.02%
Held by the ten largest
29.31%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| SUMMIT PARTNERS L P | 18.85m | 6.62% | 0.00 |
| Vanguard | 14.78m | 5.19% | +14.27k |
| Capital Group | 12.58m | 4.42% | −2.51m |
| BlackRock | 7.61m | 2.67% | +3.26m |
| Fidelity (FMR) | 6.57m | 2.31% | −3.22m |
| Whale Rock Capital Management LLC | 5.53m | 1.94% | −1.30m |
| Wellington Management | 5.05m | 1.77% | −430.03k |
| Morgan Stanley | 4.44m | 1.56% | −623.01k |
| Millennium Management | 4.12m | 1.45% | +1.77m |
| Sands Capital Alternatives, LLC | 3.93m | 1.38% | +278.47k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 29 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 78.00k | 78.00k | 108.00 |
| 2024 | 78.03k | 78.03k | 126.00 |
| 2023 | 78.03k | 78.03k | 85.00 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement
Klaviyo, Inc. (KVYO) Latest News
5 Nov
4 Nov
27 Oct
20 Oct
9 Sep
6 Aug
5 Aug
4 Jul
KVYO metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Shares outstanding
- Book value per share
- Revenue growth
- Altman Z-score
- Beneish M-score
Klaviyo sells software that helps consumer-facing businesses understand and communicate with their customers. Founded in 2012 and headquartered in Boston, it is led by co-chief executive officers Andrew Bialecki and Luciano Fernandez Gomez.
Its platform brings together information a business collects about its customers, such as purchases, browsing activity, preferences and support interactions. It combines those records into profiles that businesses can use to divide customers into groups, personalize messages and respond to customer actions. More than 350 integrations connect Klaviyo with other systems that hold customer information.