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Provides email and SMS marketing automation software that e-commerce brands use to target and retain customers.
Provides email and SMS marketing automation software that e-commerce brands use to target and retain customers.
Charges a monthly subscription that rises with the number of customer profiles a brand stores and the messages it sends, so revenue grows as clients' customer lists grow. Because the product is built around store data, most customers run on Shopify and similar e-commerce platforms. It went public in 2023.
Moat: narrow (switching costs, data, network effects). Deep integration with Shopify and accumulated customer data create switching costs for merchants.
Headquarters: Boston, Massachusetts, United States · Founded: 2012 · Employees: 2,368
Size Klaviyo (KVYO) is a United States Information Technology company (Packaged Software) with a market value of $5.90B, the 1073rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $20.71 on 6 Nov 2026.
Performance Over six months the shares gained 36.2%, against +8.8% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 28.9% over the last twelve months (peer median +11.2%); the operating margin is -1.9% (peer median 16.5%).
Valuation It trades at 19.7× forward earnings against a peer median of 17.1× (10th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +38%, so the hurdle is -31 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.6 points below its cost of capital (7.3% WACC).
Backlog Backlog (remaining performance obligations) was $352M at 30 Sep 2026, up 63% on a year earlier — 0.2 years of trailing revenue. Backlog detail →
Short interest Short interest is 15.9% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.39B | $1.23B | $937M | $698M | $473M |
| Revenue growth | — | +32% | +34% | +48% | — |
| Gross profit | $1.03B | $921M | $716M | $521M | $345M |
| EBITDA | -$2.38M | -$44.9M | -$66.3M | -$309M | -$46.0M |
| Net income | $6.79M | -$31.8M | -$46.1M | -$308M | -$49.2M |
| Free cash flow | $236M | $190M | $149M | $110M | -$41.8M |
| Capital expenditure | $40.1M | $28.5M | $17.2M | $9.36M | $18.2M |
| Total debt | $114M | $121M | $53.4M | $51.6M | $62.4M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Klaviyo KVYO | $5.90B | +36% | +29% | -2% | 19.7× | 7.0% |
| Salesforce CRM | $176B | +18% | +11% | 22% | 14.6× | 13.7% |
| HubSpot HUBS | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% |
| Braze BRZE | $5.20B | +111% | +27% | -13% | 57.1× | 27.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KVYO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.9% | +4.5% | 2nd highest of 21 |
| 6-month return | +36.2% | +8.8% | 5th highest of 20 |
| Distance from 52-week high | -37.9% | -25.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +28.9% | +11.2% | 5th highest of 21 |
| Operating margin | -1.9% | 16.5% | 4th lowest of 21 |
| Forward P/E | 19.7× | 17.1× | 10th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 7.0% | 8.7% | 8th least demanding of 19 |
| Growth delivered (Del g) | +37.7% | +15.3% | highest of 19 |
| Hurdle (Req g minus delivered) | -30.7 pp | -6.1 pp | least demanding of 19 |
| ROIC minus cost of capital | -15.6 pp | +2.6 pp | 4th lowest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Klaviyo KVYO | United States | $5.90B | +36% | +29% | -2% | 19.7× | 7.0% | +37.7% |
| Shanghai Baosight Software 600845.SS | China | $5.97B | -24% | +11% | 10% | 30.3× | 6.9% | +1.4% |
| Doximity DOCS | United States | $5.79B | +25% | +11% | 31% | 23.3× | 16.3% | +25.5% |
| NIQ Global Intelligence NIQ | United States | $6.02B | +5% | +9% | 8% | 17.1× | 10.9% | +14.6% |
| Hundsun Technologies 600570.SS | China | $6.05B | -20% | -5% | 9% | 30.1× | 34.8% | +7.0% |
| ACI Worldwide ACIW | United States | $6.06B | +32% | +7% | 19% | 22.9× | 11.8% | +6.3% |
| Bilibili 9626.HK | Hong Kong | $6.06B | -36% | +11% | 4% | 14.2× | 7.3% | +19.5% |
| Dolby Laboratories DLB | United States | $6.07B | +11% | +1% | 19% | 14.3× | 10.0% | +3.0% |
| Open Text OTEX.TO | Canada | $6.07B | +9% | +1% | 23% | 6.4× | -6.2% | +10.8% |
| RingCentral RNG | United States | $6.09B | +58% | +5% | 9% | 13.3× | 15.2% | +16.3% |
| Varonis Systems VRNS | United States | $5.63B | +71% | +18% | -25% | 138.0× | 23.0% | +16.3% |
| Giant Network 002558.SZ | China | $5.61B | -35% | +105% | 48% | 10.0× | -2.1% | +17.9% |
| Octave Intelligence OCTV | United States | $5.60B | n/a | +1% | 20% | 14.7× | 17.0% | +1.3% |
| Topicus.com TOI.V | Canada | $6.25B | +9% | +28% | 15% | 21.3× | 0.7% | +26.5% |
| SenseTime 0020.HK | Hong Kong | $6.25B | -44% | +31% | -51% | n/a | n/a | n/a |
| Navan NAVN | United States | $6.25B | +36% | +35% | -25% | 76.3× | n/a | n/a |
| International Games System 3293.TWO | Taiwan | $6.27B | 0% | +15% | 59% | 14.4× | -4.0% | +21.2% |
| Kingnet Network 002517.SZ | China | $5.47B | -4% | +62% | 29% | 13.7× | 6.3% | +28.1% |
| Waystar WAY | United States | $5.45B | +33% | +21% | 24% | 15.8× | 7.5% | +16.0% |
| Trend Micro 4704.T | Japan | $5.39B | +18% | +7% | 18% | 27.4× | -4.1% | +9.7% |
| Commvault Systems CVLT | United States | $6.48B | +51% | +14% | 10% | 27.6× | 26.9% | +10.3% |
Klaviyo reported $352M of remaining performance obligations at 30 Sep 2026, up 63% from a year earlier and up 14% from the previous quarter. That is 0.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.11.