Klaviyo, Inc.

klaviyo.com

What Do They Do?

Provides consumer businesses with a platform for customer data, personalized marketing, and customer service across email, text, and WhatsApp.

How Do They Make Money?

Customers pay subscription fees for platform access, with tiers based on profile counts and messaging; most plans are monthly, and the fees cover service over the subscription term.

FY2025 revenue

Who Are Their Customers?

Businesses from small operators to large enterprises use the platform, especially in retail and eCommerce. Many sign up through self-service; others come through commerce-platform and agency partners, while sales teams serve larger accounts.

Do Revenues Turn Into Profits?

Not on paper. It lost $31.8M in FY2025, but brought in more cash than it spent: $208.5M of free cash flow.

Operating income, FY2025

−5% of revenue

▼ −19% (Loss) vs FY2024 (−$84.1M, −9%)

Net income, FY2025

−3% of revenue

▼ −31% (Loss) vs FY2024 (−$46.1M, −5%)

Free cash flow, FY2025

17% of revenue

▲ +30% vs FY2024 ($160M, 17%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +26%; vs $293.1M in Q2 FY2025
Net income: ▼ −64% (Loss); vs −$24.3M in Q2 FY2025

Jul 13, 2026 Erica Smith appointed CFO to succeed Amanda Whalen Smith is set to become CFO effective September 1, 2026; Whalen will move into an advisory role.
May 5, 2026 Amanda Whalen announced plans to step down as CFO Whalen planned to leave the CFO role and move into an advisory position.

Growing. Revenue grew 4.2x in 4 years, from $290.6M in FY2021 to $1.2B in FY2025, about 44% a year.

Who Do They Compete With?

Competes with Mailchimp, Braze, Adobe, and Salesforce

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