39 slides from Klaviyo, Inc. Series A's earnings presentation, Feb 19, 2025
Slide 1: Q4 2024 / FY 2024 Investor Presentation
Q4 2024 / FY 2024 Investor Presentation 02.20.2025
Slide 2: Forward-Looking Statements and Disclaimer
Forward-Looking Statements and Disclaimer This presentation includes certain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Other than statements of historical facts, all statements contained in this
Slide 3: Statement Regarding Use of Non-GAAP Financial Measures
Statement Regarding Use of Non-GAAP Financial Measures In addition to financial measures prepared in accordance with generally accepted accounting principles in the United States (GAAP), this presentation and accompanying oral commentary contain non-GAAP financial measures, including non-GAAP gross
Slide 4: The Only CRM Built for B2C
THE ONLY CRM BUILT FOR B2C Powered by its built-in Klaviyo Data Platform and AI insights, Klaviyo combines marketing automation, analytics and customer service into one unified solution, making it easy for businesses of all sizes to build meaningful relationships, drive smarter decisions and grow fa
Slide 5: Positioned to win & deliver durable growth at scale
Positioned to win & deliver durable growth at scale One-of-a-kind Large & Momentum Proven & integrated platform growing market executing efficient with data advantage opportunity growth vectors business model Redefining B2C tech Aligned with secular Clear and proven plan to Track record of durable s
Slide 6: Klaviyo by the numbers
Klaviyo by the numbers1 $937M Revenue 108% Dollar-Based Net Revenue 33% EMEA & APAC Revenue 16% Free Cash Flow Margin3 Retention Rate2,4 34% YoY Revenue Growth 167,000+ Total Customers 2,4 2,850 Customers Generating Over 12% Non-GAAP $50K ARR2,4 Operating Margin3 46% YoY Growth 1 All metrics for fisc
Slide 7: Klaviyo is positioned to redefine the next era of B2C engagement
Klaviyo is positioned to redefine the next era of B2C engagement Channel first Channel affinity marketing marketing Standalone Built in CDP CDP Siloed Omnichannel marketing interactions (pre and post) Human-led AI-guided decision making decision making 2025 © Klaviyo 7
Slide 8: Built to scale
B2C CRM 2025 Global Klaviyo’s evolution 7 languages; SMS in 19 countries Redefining growth for B2C businesses CDP 2024 2023 We started with a simple idea: that 01/12/25 Sarah L. businesses should own their customer “Skin looks & feels flawless!” data and use it to create better, more personalized ex
Slide 9: Klaviyo: The only CRM built for B2C
Klaviyo: The only CRM built for B2C 1:1 personalization at scale, All-in-one platform for B2C Data-first, built-in without complexity marketing & service teams 2025 © Klaviyo 9
Slide 10: Why Klaviyo
Why Klaviyo Powering personalization & automation at scale Benefits to Klaviyo Customers Data-first, built in ● Real-time profile Rapid implementation Unified customer, purchase, and behavioral data into one view Automate 1:1 personalized, omni-channel ● No limits, no silos experiences with faster t
Slide 11: Our data-first approach is a competitive advantage
Our data-first approach is a competitive advantage Vertically integrated tech stack ● Unified data layer and application layer ● Built to scale across applications and verticals Comprehensive tools & features ● Reporting & analytics: Advanced analytics, benchmarking and reporting ● AI and ML-powered
Slide 12: Klaviyo Service
Klaviyo Service Bring marketing and service together to grow revenue and loyalty Customer Hub AI Agent Unified Inbox Manage orders, discover new 24/7 automated self-service, with Complete customer context for products, and ask for support easy escalations to live agents faster, personalized service
Slide 13: AI remains central to our product roadmap
AI remains central to our product roadmap Enabling customers to work faster, unleash creativity, and dream up new possibilities Leverage strategic insights Weave together data to deeply understand customers and spark an idea Ex. Predictive analytics, Review sentiment AI Create targeted communication
Slide 14: We continue to expand our global presence
We continue to expand our global presence 7 languages supported 19 countries available for SMS on the Klaviyo platform English, French, German, Portuguese, across North America, EMEA, and APAC Korean, Spanish, Italian 4 Countries with Operations 2025 © Klaviyo 14 (USA, UK, Australia, Ireland)
Slide 15: Trusted by a large, growing, and diverse customer base
Trusted by a large, growing, and diverse customer base 167,000+ Total Customers1 2,850 Customers > $50K ARR1 Diverse Ranging from entrepreneurs, SMBs and mid-market+ 1 As of December 31, 2024. See Appendix for definitions of Customers and Customers Generating Over $50,000 of ARR. 2025 © Klaviyo 15
Slide 16: We help customers drive revenue
We help customers drive revenue Getting the right discount to the right customer. Modernizing & consolidating B2C & B2B tech stack. Leveraging segmented testing to drive revenue. To increase customer lifetime value, Ruffwear wanted to Luxury British fashion icon Paul Smith modernized its Legal Sea F
Slide 17: Customer testimonial: Klaviyo Customer Hub
Customer expectations are at an all-time high, and managing loyalty, referrals, rewards, and subscriptions can be a challenge. We wanted to simplify the experience for our loyal customers, and Klaviyo Customer Hub made that possible. It’s now a central part of our customer retention strategy.” VP of
Slide 18: Multiple growth vectors in play
Multiple growth vectors in play - long runway of near- and long-term opportunities Launch Enable developer- led apps new Expand use cases into new Continue to verticals Broad platform Grow in the innovate in applicability mid-market & marketing Customer Open enterprise Integrations Expand Reviews (M
Slide 19: $68B Large & growing market
Global TAM ~1% penetrated $68B Large & growing market opportunity - U.S. TAM Across verticals ~3% penetrated $34B significant white space SAM Retail & eCommerce ~6% penetrated $16B 1 For the fiscal year ended December 31, 2024 $937M 2025 © Klaviyo 19 TAM source data: Statista, Analysys Mason, Klaviy
Slide 20: Our partner ecosystem enriches customer offerings
Our partner ecosystem enriches customer offerings and accelerates our customer acquisition engine Stickier customer relationships ● Scalable flywheel enables efficient customer acquisition and partner growth Enhance Co-market ● Depth of integrations and broader product Technology eCommerce Strategic
Slide 21: Financials
Financials 2025 © Klaviyo 21
Slide 22: Q4 2024 financial highlights
Q4 2024 financial highlights1 Operating at Scale $270M Quarterly revenue Strong Revenue Growth 34% Year-over-year growth rate Healthy Expansion With Our Customers 108% Dollar-Based Net Revenue Retention Rate2 Momentum in the Mid Market 46% Year-over-year growth in Customers > $50K ARR3 Generating St
Slide 23: Revenue growth at scale
Revenue growth at scale YoY Growth 48% 34% 39% 35% 35% 34% 34% 2025 © Klaviyo 23
Slide 24: Strong customer growth
Strong customer growth1 2 2 +17% +46% 1 All figures are as of December 31, 2024 or 2023, as indicated. 2025 © Klaviyo 24 2 See Appendix for definitions of Customers and Customers Generating Over $50,000 of ARR.
Slide 25: Continuing to diversify internationally
Continuing to diversify internationally Key highlights ● 41% YoY international revenue growth ● Notable strength in EMEA, particularly in France, Germany, and the Nordics ● 7 languages supported on the Klaviyo platform ● Klaviyo SMS available in 19 countries ● Added customers across the globe includ
Slide 26: Measured investments against our market opportunities
Measured investments against our market opportunities Key drivers ▪ Employee bonus plan implemented in 2024 drove additional costs in each line item ▪ G&A leverage due to the release of international tax related reserves and the lapping of IPO costs ▪ R&D held flat as we continue to invest in new pr
Slide 27: Continued growth of non-GAAP operating margin
Continued growth of non-GAAP operating margin Non-GAAP 11% 12% Operating Margin See Appendix for Non-GAAP reconciliation. 2025 © Klaviyo 27
Slide 28: Consistent free cash flow generation
Consistent free cash flow generation TTM Free Cash Flow Margin 16% 16% 14% 15% 16% 2025 © Klaviyo 28 See Appendix for Non-GAAP reconciliation.
Slide 29: Guidance
Guidance ($ in millions) Q1 FY25 FY25 Revenue $265 - $269 $1,156 - $1,164 YoY Growth 26% - 28% 23% - 24% Non-GAAP Operating Income $25.5 - $28.5 $130 - $136 Non-GAAP Operating Margin 10%-11% 11%-12% 2025 © Klaviyo 29 Guidance issued as of February 19, 2025
Slide 30: Appendix
Appendix 2025 © Klaviyo 30
Slide 31: Summary Non-GAAP P&L (Quarterly)
Summary Non-GAAP P&L (Quarterly) ($ in millions) FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 Revenue $201.6 $210.0 $222.2 $235.1 $270.2 Cost of Revenue $41.9 $42.4 $47.5 $52.1 $69.6 Gross Profit $159.8 $167.6 $174.7 $183.0 $200.6 Gross margin % 79.2% 79.8% 78.6% 77.8% 74.2% Selling and marketing $77.3 $
Slide 32: Summary Non-GAAP P&L (Yearly)
Summary Non-GAAP P&L (Yearly) ($ in Millions) FY 2024 FY 2023 Revenue $937.5 $698.1 Cost of Revenue $211.5 $150.2 Gross Profit $725.9 $547.9 Gross margin % 77.4% 78.5% Selling and marketing $307.9 $229.0 Research and development $184.2 $136.7 General and administrative $121.4 $104.1 Total operating e
Slide 33: GAAP to Non-GAAP reconciliation of Operating Income
GAAP to Non-GAAP reconciliation of Operating Income 2025 © Klaviyo 33
Slide 34: GAAP to Non-GAAP reconciliation of Gross Profit
GAAP to Non-GAAP reconciliation of Gross Profit 2025 © Klaviyo 34
Slide 35: GAAP to Non-GAAP reconciliation of Operating Expenses
GAAP to Non-GAAP reconciliation of Operating Expenses 2025 © Klaviyo 35
Slide 36: GAAP to Non-GAAP reconciliation of Operating Expenses
GAAP to Non-GAAP reconciliation of Operating Expenses 2025 © Klaviyo 36
Slide 37: Reconciliation of Operating Cash Flow to Free Cash Flow
Reconciliation of Operating Cash Flow to Free Cash Flow 2025 © Klaviyo 37
Slide 38: Select defined terms
Select defined terms Customers: We define a customer as a distinct paid subscription to our platform. A single organization could have multiple discrete contracting divisions or subsidiaries or brands each with paid subscriptions to our platform, which would, in general, constitute multiple distinct
Slide 39: klaviyo
klaviyo™