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Mar 31, 2024
Klaviyo Q1 2024 Earnings Report
Klaviyo reported strong Q1 2024 results with revenue growth and platform expansion.
Key Takeaways
Klaviyo announced strong first quarter results, with revenue of $210.0 million representing 35% year-over-year growth. The company expanded its platform with new international launches and saw growth in its customer base and ARR.
Revenue reached $210.0 million, a 35% increase year-over-year.
Launched Klaviyo portfolio to solve complex needs for global and multi-account customers.
Expanded platform internationally with a French language version and SMS in nine countries.
Ended the quarter with 2,157 customers generating over $50,000 of ARR, up 69% year-over-year.
Klaviyo
Klaviyo
Forward Guidance
Klaviyo provided financial outlook for Q2 2024 and full year 2024.
Positive Outlook
- Q2 Revenue: $211.0 - $213.0 million
- Q2 Year-over-year Growth Rate: 28% - 29%
- Q2 Non-GAAP Operating Income: $19.5 - $22.5 million
- Q2 Non-GAAP Operating Margin: 9% - 11%
- Full Year Revenue: $899.0 - $907.0 million
Challenges Ahead
- Full Year Year-over-year Growth Rate: 29% - 30%
- Full Year Non-GAAP Operating Income: $97.0 - $105.0 million
- Full Year Non-GAAP Operating Margin: 11% - 12%
- Klaviyo has not provided a reconciliation of non-GAAP operating income guidance measures to the most directly comparable GAAP measures because certain items excluded from GAAP cannot be reasonably calculated or predicted at this time.
- Stock-based compensation-related charges are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change.