Klaviyo, Inc. Series A · NYSE:KVYO
Klaviyo, Inc. Series A — Klaviyo — Q4 2025 Earnings Presentation
36 slides from Klaviyo, Inc. Series A's earnings presentation, Feb 10, 2026
Slide 1: The Autonomous B2C CRM: Powering More Valuable Customer Experiences
The Autonomous B2C CRM: Powering More Valuable Customer Experiences Q4 2025 Investor Presentation 02.10.2026
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: Investment thesis
Investment Expanding markets and gaining share - Enterprise and international momentum accelerating thesis AI expands usage and monetization - As our customers Agents and automation increase volume and value realize value and grow, we grow. More products and deeper adoption - Multi-product adoption
Slide 5: By the numbers
By the numbers $1.2B Annual revenue $250B Klaviyo Attributed Value 8B+ Consumer profiles 32% YoY growth (KAV) since 2021 193k Customers across >5% of US ecommerce 3.7B+ Average daily events 100+ countries sales attributed to Klaviyo processed during Black Friday Cyber Monday 20251 1. BFCM defined as
Slide 6: High-growth businesses trust Klaviyo with their customer experiences
High-growth businesses, from emerging creators to Q4 WINS AND EXPANSIONS global enterprises, trust Klaviyo with their customer experiences. 2X YoY Growth in $1M+ ARR customers1 2026 © Klaviyo 6 1 As of December 31, 2025. See Appendix for definition of Customers Generating Over $1,000,000 of ARR.
Slide 7: Why businesses choose Klaviyo
Why businesses choose Klaviyo Execute faster Deliver higher-quality Unified customer context customer experiences with data that activates AI orchestrated intent in real time personalization with customer preferences and consent Generate measurable economic upside Revenue growth, lower TCO and stron
Slide 8: Klaviyo is the autonomous B2C CRM
Purpose-Built Agents Klaviyo is the autonomous Marketing Service B2C CRM Intelligence Powering more valuable customer experiences Data Platform Infrastructure 2025 © Klaviyo 2026 Confidential © Klaviyo 8
Slide 9: Actionable infrastructure
Actionable infrastructure that powers more valuable customer experiences 2026 © Klaviyo 9
Slide 10: Autonomous experiences, powered by intelligent agents and infrastructure
Autonomous experiences, powered by intelligent agents and infrastructure Purpose-built agents ● Pre-built domain & industry skills ● Real-time decisioning ● Skills platform & library ● Reinforcement learning loops Infrastructure ● Flexible data platform ● Profile-level intelligence ● Deliverability
Slide 11: The autonomous future we are enabling
The autonomous future we are enabling Agent-first 1:1 personalization More efficient teams experiences 2026 © Klaviyo 11
Slide 12: Purpose-built agents that orchestrate across channels
What we have so far. Purpose-built agents that orchestrate across channels Email Text WhatsApp Mobile App Website Klaviyo Agents Trained by full business context Full funnel context Autonomous decisions at 1:1 granularity Learnings compounds across every interaction 2026 © Klaviyo 12
Slide 13: Closed loop system improves continuously and autonomously
Closed loop system improves continuously and autonomously for better outcomes Millions Intelligence of recommendations per minute Strengthens Drives better intelligence actions 6M profile updates per account per hour Customer behavior Actions 3.7B average daily events processed Generate more data 20
Slide 14: We drive measurable ROI for growing businesses
We drive measurable ROI for growing businesses. As customers capture more value with Klaviyo, usage expands— delivering stronger outcomes for customers and durable growth for us. Revenue Growth Reduced TCO Strong Returns 293% 1 40% ~67X YoY KAV growth TCO savings from ROI2 switching to Klaviyo 1 As
Slide 15: Customer testimonial: enterprise migration to Klaviyo
“Other enterprise systems require engineering and data science teams to get the most out of them. Klaviyo empowers our marketing team to get the same results, easily.” 20% time spent on 46% YoY growth in CRM execution1 SMS revenue2 03 04 Klaviyo Products (with 2 Weeks to migrate 6 Service products t
Slide 16: Platform expansion is extending our market opportunity
Platform expansion is extending our market opportunity ~1% penetrated $160B +Multi-product and logo penetration $68B +International growth +Enterprise wins Marketing Automation B2C CRM Autonomous CRM 2026 © Klaviyo 16 Source: Management estimates based on industry analyst reports.
Slide 17: Growth across multiple vectors
Growth across multiple vectors Multi-product International Mid-market and platform growth enterprise momentum ● Add more customers & ● Leverage existing ● Drive further success with land larger deals investments to accelerate larger customers ● Increase customer usage key market growth ● Win as the
Slide 18: Financials
Financials 2026 © Klaviyo 18
Slide 19: Q4 2025 Results Highlights
Q4 2025 Results Highlights1 Aligned with customer outcomes, built for durable growth Operating at scale Strong revenue growth Accelerating NRR $350M 30% 110% Dollar-Based Net Revenue Quarterly Revenue YoY Growth Rate Retention Rate2,3 Mid-market momentum Expanding profitability Consistent cash 37% 1
Slide 20: Sustained revenue growth at $1.4B annualized run rate
Sustained revenue growth at $1.4B annualized run rate Annual Revenue ($ in millions) Quarterly Revenue ($ in millions) $1,234 $350 $311 $293 $937 $270 $280 $698 48% 34% YoY 33% 34% 32% YoY 32% 32% Growth 30% Growth FY23 FY24 FY25 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 2026 © Klaviyo 20
Slide 21: Continued momentum with our largest customers
Continued momentum with our largest customers1 Total Customers2 Customers Generating >$50K ARR2 +16% +37% 193,000+ 167,000+ 3,912 2,850 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 1 All figures are as of December 31, 2025 or 2024, as noted. 2026 © Klaviyo 21 2 See Appendix for definitions of Customers and Custo
Slide 22: International is a large and growing opportunity
International is a large and growing opportunity Global footprint Geographic Revenue Mix 33% 35% 100+ Countries generating revenue1 International growth outpacing Americas 67% 65% FY24 FY25 42% Ex-Americas Growth Rate YoY2 EMEA + APAC Americas Percentages may not sum to 100% due to rounding. 1 For t
Slide 23: Broad-based leverage as we invest in growth
Broad-based leverage as we invest in growth Non-GAAP Operating Expenses (% of Revenue) 65% 62% G&A: Leverage from focus on scale and AI efficiencies 13% 12% 20% 18% R&D: Leverage on foundational work while investing for the future 33% 32% S&M: Investing behind strong unit economics to drive growth F
Slide 24: Delivering margin expansion from efficient execution
Delivering margin expansion from efficient execution Non-GAAP Operating Income ($ in millions) $169.2 $112.5 14% 12% Non-GAAP Operating Margin FY24 FY25 See Appendix for Non-GAAP reconciliation. 2026 © Klaviyo 24
Slide 25: Consistent free cash flow generation
Consistent free cash flow generation Trailing Twelve Month Free Cash Flow ($ in millions) $200 $167 $155 $149 $132 $1B+ Cash & Cash 16% 16% TTM Free Cash 13% 14% 15% Equivalents1 Flow Margin FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 See Appendix for Non-GAAP reconciliation. 2026 © Klaviyo 25 1 As of t
Slide 26: Guidance
Guidance ($ in millions) Q1 FY26 FY26 Revenue $346 - $350 $1,501 - $1,509 YoY Growth 23.5% - 25% 21.5% - 22.5% Non-GAAP Operating Income $50 - $53 $218 - $224 Non-GAAP Operating Margin 14.5% - 15% 14.5% - 15% 2026 © Klaviyo 26 See Appendix for Non-GAAP reconciliation. Percentages rounded for present
Slide 27: Appendix
Appendix 2026 © Klaviyo 27
Slide 28: Summary Non-GAAP P&L (Quarterly)
Summary Non-GAAP P&L (Quarterly) ($ in millions) FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 Revenue $270.2 $279.8 $293.1 $310.9 350.2 Cost of Revenue $69.6 $65.5 $69.0 $73.8 $95.3 Gross Profit $200.6 $214.3 $224.1 $237.1 $254.9 Gross margin % 74.2% 76.6% 76.4% 76.3% 72.8% Selling and marketing $93.0 $9
Slide 29: Summary Non-GAAP P&L (Yearly)
Summary Non-GAAP P&L (Yearly) ($ in Millions) FY 2025 FY 2024 Revenue $1,234.0 $937.5 Cost of Revenue $303.6 $211.5 Gross Profit $930.4 $725.9 Gross margin % 75.4% 77.4% Selling and marketing $399.7 $307.9 Research and development $218.8 $184.2 General and administrative $142.7 $121.4 Total operating
Slide 30: GAAP to Non-GAAP reconciliation of Operating Income
GAAP to Non-GAAP reconciliation of Operating Income 2026 © Klaviyo 30
Slide 31: GAAP to Non-GAAP reconciliation of Gross Profit
GAAP to Non-GAAP reconciliation of Gross Profit 2026 © Klaviyo 31
Slide 32: GAAP to Non-GAAP reconciliation of Operating Expenses
GAAP to Non-GAAP reconciliation of Operating Expenses 2026 © Klaviyo 32
Slide 33: GAAP to Non-GAAP reconciliation of Operating Expenses
GAAP to Non-GAAP reconciliation of Operating Expenses 2026 © Klaviyo 33
Slide 34: Reconciliation of Operating Cash Flow to Free Cash Flow
Reconciliation of Operating Cash Flow to Free Cash Flow 2026 © Klaviyo 34
Slide 35: 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 36: klaviyo
klaviyo™