"Google views Klaviyo as a key marketing player in this new era of agentic commerce,†said Stephen Brough, Global GTM Head, RCS for Business. "This deepened collaboration across our two companies and product lines will help Google bring real-time customer intelligence to every touchpoint a consumer has - from ads to AI.†What's available today The announcement reinforces the Google and Klaviyo integrations that are already live, including: BOSTON & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Klaviyo (NYSE: KVYO ...

Core Insights - Investor enthusiasm for AI's potential to drive innovation and efficiency has shifted to a significant rejection of the enterprise software sector, with predictions that AI agents may eventually displace traditional roles in the industry [1] Group 1 - The article highlights the rapid change in investor sentiment regarding AI and enterprise software, indicating a move from optimism to skepticism [1] - Gary Alexander's extensive experience in both Wall Street and Silicon Valley positions him as a knowledgeable figure in understanding current industry trends [1]

Core Viewpoint - Klaviyo Inc reported better-than-expected fourth-quarter financial results and provided FY26 sales guidance above market estimates [1] Financial Performance - The company reported quarterly earnings of 19 cents per share, surpassing the analyst consensus estimate of 17 cents per share [1] - Quarterly sales reached $350.195 million, exceeding the analyst consensus estimate of $333.954 million [1] Future Guidance - Klaviyo anticipates FY2026 sales between $1.501 billion and $1.509 billion, compared to market estimates of $1.481 billion [1] Market Reaction - Following the earnings announcement, Klaviyo shares increased by 5.6% to $22.30 in pre-market trading [2] - Analysts adjusted their price targets for Klaviyo after the earnings report [2]

Core Insights - Robert Playter, the CEO of Hyundai Motor Group's robot affiliate Boston Dynamics, is stepping down [1] Company Summary - Boston Dynamics, based in Waltham, Massachusetts, announced the resignation of its CEO on its X account [1]

Core Viewpoint - Klaviyo, Inc. (NYSE:KVYO) specializes in marketing automation and email marketing services, providing tools for personalized marketing campaigns, and faces competition from firms like Mailchimp and HubSpot [1] Group 1: Analyst Ratings and Price Targets - Jefferies set a price target of $29 for KVYO, indicating a potential increase of 37.31% from its current price of $21.12 [1] - Benchmark reduced its price target from $46 to $30 while maintaining a buy rating [2] - Jefferies upgraded the stock to a "strong-buy" in October, while Stifel Nicolaus maintained a buy rating and Morgan Stanley set an overweight rating [3] Group 2: Stock Performance - KVYO's stock recently hit a new 52-week low after an analyst downgrade, falling to $18.55 during trading and closing at $19.67 [2] - The stock has shown some recovery, currently priced at $21.12, reflecting a 7.26% increase with a change of $1.43 [3] - Over the past year, KVYO reached a high of $48.17 and a low of $18.55, with a market capitalization of approximately $6.38 billion and a trading volume of 11.48 million shares on the NYSE [3]

分组1 - Klaviyo, Inc. reported quarterly earnings of $0.19 per share, exceeding the Zacks Consensus Estimate of $0.17 per share, and showing an increase from $0.07 per share a year ago, resulting in an earnings surprise of +13.98% [1] - The company achieved revenues of $350.2 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 5.06%, and up from $270.16 million year-over-year [2] - Klaviyo, Inc. has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance [2] 分组2 - The stock has underperformed the market, losing about 39.4% since the beginning of the year, while the S&P 500 has gained 1.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $342.63 million, and for the current fiscal year, it is $0.80 on revenues of $1.48 billion [7] - The Internet - Software industry, to which Klaviyo belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Data and Key Metrics Changes - Klaviyo achieved a revenue growth of 32% year-over-year, reaching $1.2 billion for the fiscal year 2025, with a non-GAAP operating margin of 14% [5][26] - In Q4, revenue was $350 million, reflecting a 30% year-over-year increase, leading to an annualized revenue run rate of $1.4 billion [27] - Non-GAAP operating income for Q4 was $51 million, representing a 15% non-GAAP operating margin, which is a 900 basis point expansion year-over-year [31] - Free cash flow surged 61% year-over-year to $87 million, highlighting the high quality of earnings [32] Business Line Data and Key Metrics Changes - The largest customers, contributing over $50,000 of ARR, grew by 37% year-over-year [26] - The new service category is the fastest-growing product launch in Klaviyo's history, contributing to a net revenue retention (NRR) of 110%, an increase of over 200 basis points year-over-year [27][29] - Over 60% of ARR now comes from multi-product customers, with more than 15% of ARR from customers adopting at least three products [29] Market Data and Key Metrics Changes - International revenue growth accelerated to 42%, with revenue outside the Americas representing more than one-third of the business by the end of Q4 [26][24] - Q4 saw strong momentum in mobile, with over 29% of SMB Plus customers utilizing text and WhatsApp [28] Company Strategy and Development Direction - Klaviyo is focused on delivering autonomous customer experiences through its B2C CRM, leveraging AI to enhance customer engagement and operational efficiency [5][18] - The company aims to consolidate customer engagement tools into a single platform to improve decision-making and personalization, addressing the fragmentation in customer relationship management [20][22] - Klaviyo is expanding its enterprise pipeline and has seen a doubling of customers generating at least $1 million of ARR, indicating strong demand in the enterprise segment [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, projecting revenue between $1.501 billion and $1.509 billion for 2026, representing a year-on-year growth of 21.5%-22.5% [33] - The outlook for 2026 is considered de-risked, assuming minimal revenue contribution from new AI and service products, which are viewed as upside potential [33][34] - Management emphasized the importance of AI in driving customer engagement and operational efficiency, positioning Klaviyo as a revenue-yield engine [36] Other Important Information - Klaviyo processed 0.5 trillion customer interactions across 8 billion consumer profiles, translating into 3.7 billion daily signals that inform customer engagement strategies [11] - The company has launched agents for marketing and customer service, with over half of the campaigns created by the Marketing Agent now generated by AI [14][15] Q&A Session Summary Question: What was the impact from the portfolio enforcement change in the quarter? - Management indicated that the portfolio enforcement change had a smaller impact on NRR compared to the growing usage of the platform across email and SMS products and the cross-sell of newer products [41][42] Question: How did SMS perform in the quarter versus expectations? - SMS performance was strong, with a transition from SMS to RCS allowing for better customer experiences, and the integration of WhatsApp also showed positive trends [44][45] Question: Can you provide visibility into adoption and engagement trends by cohorts? - Adoption of the customer agent is seen across all customer segments, with a strong interest in the agent's capabilities, although there are challenges in training and quality assurance [49][52] Question: What is the limiting factor to an LLM or AI-native company replicating Klaviyo's context? - Klaviyo's extensive dataset and real-time data infrastructure provide a significant competitive advantage that is difficult to replicate [57][60] Question: How does the Co-CEO's enterprise experience fit into Klaviyo's strategy? - The Co-CEO's experience in scaling enterprise businesses is expected to enhance operational strengths and improve alignment across product, engineering, and go-to-market strategies [63] Question: What do you see in the Accenture partnership? - The partnership with Accenture is focused on providing services around marketing and service reinvention, leveraging Klaviyo's capabilities to address customer fragmentation [66][71]

Financial Data and Key Metrics Changes - Klaviyo reported a revenue growth of 32% year-over-year, reaching $1.2 billion for 2025, with a non-GAAP operating margin of 14% [5][28] - In Q4, revenue was $350 million, up 30% year-over-year, contributing to an annualized revenue run rate of $1.4 billion [28] - Non-GAAP operating income for Q4 was $51 million, representing a 15% non-GAAP operating margin, reflecting a 900-basis-point expansion year-over-year [32] - Free cash flow surged 61% year-over-year to $87 million, highlighting the high quality of earnings [33] Business Line Data and Key Metrics Changes - The largest customers, contributing over $50,000 of ARR, grew by over 37% year-over-year [28] - The new service category is the fastest-growing product launch in Klaviyo's history, contributing to a net revenue retention (NRR) of 110%, an increase of over 200 basis points year-over-year [28] - 60% of ARR now comes from multi-product customers, with over 15% of ARR from customers adopting at least three products [30] Market Data and Key Metrics Changes - International revenue growth accelerated to 42%, with revenue outside the Americas representing more than one-third of the business by the end of Q4 [28][25] - Q4 saw strong performance in Italy, Spain, and Portugal, alongside traction with global brands like Bayer and KIKO Milano [31] Company Strategy and Development Direction - Klaviyo is focused on delivering autonomous customer experiences powered by AI, positioning itself as a leader in the B2C CRM space [5][19] - The company aims to consolidate customer engagement tools into a single platform to enhance personalization and decision-making [22] - Klaviyo is expanding its enterprise pipeline and has partnered with Accenture to drive integrated customer outcomes for large brands [24][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential, citing strong momentum in customer engagement and the shift towards autonomous experiences [26][34] - The 2026 revenue guidance is projected between $1.501 billion and $1.509 billion, representing 21.5%-22.5% year-on-year growth, with expectations for continued operating margin expansion [34][35] - Management emphasized the importance of AI in enhancing customer engagement and driving revenue growth [37] Other Important Information - Klaviyo processed half a trillion customer interactions across 8 billion consumer profiles, translating into 3.7 billion daily signals [11] - The company is seeing increased adoption of its Customer Agent, which is designed to handle real-time customer interactions and improve service outcomes [15][50] Q&A Session Summary Question: What was the impact from the portfolio enforcement change in the quarter? - The portfolio enforcement change had a smaller impact on NRR compared to the growing usage of the platform across email and SMS products and the cross-sell of newer products [42] Question: How did SMS perform in the quarter versus expectations? - SMS performed very strongly, with a transition from SMS to RCS allowing for better experiences and increased engagement [44] Question: Can you provide visibility into adoption and engagement trends by cohorts? - Adoption of the Customer Agent is seen across all customer segments, with significant interest from SMBs to enterprise customers [50] Question: What is the limiting factor to an LLM or AI-native company replicating Klaviyo's context? - Klaviyo's extensive dataset and real-time infrastructure provide a significant competitive advantage that is difficult to replicate [56][58] Question: How does the skill set of the new co-CEO fit into Klaviyo's strategy? - The new co-CEO brings experience in scaling enterprise technology businesses, which aligns with Klaviyo's focus on expanding its enterprise customer base [61] Question: What do you see in the Accenture partnership? - Accenture views Klaviyo as a strong partner for providing AI-driven solutions to address fragmentation in customer engagement [69]

Financial Data and Key Metrics Changes - Klaviyo achieved a revenue growth of 32% year-over-year, reaching $1.2 billion for 2025, with a non-GAAP operating margin of 14% [4][25] - In Q4, revenue was $350 million, up 30% year-over-year, leading to an annualized revenue run rate of $1.4 billion [25][26] - Non-GAAP operating income for Q4 was $51 million, representing a 15% non-GAAP operating margin, reflecting a 900 basis point expansion year-over-year [30] Business Line Data and Key Metrics Changes - The largest customers, contributing over $50,000 of ARR, grew by 37% year-over-year [25][29] - The new service category is the fastest-growing product launch in Klaviyo's history, contributing to a net revenue retention (NRR) of 110%, an increase of over 200 basis points year-over-year [25][30] - Over 60% of ARR now comes from multi-product customers, with more than 15% of ARR from customers adopting at least three products [28] Market Data and Key Metrics Changes - International revenue growth accelerated to 42%, with revenue outside the Americas representing more than one-third of the business by the end of Q4 [25][23] - Q4 saw strong momentum in mobile, with over 29% of SMB Plus customers utilizing text and WhatsApp [26] Company Strategy and Development Direction - Klaviyo is focused on delivering autonomous customer experiences powered by AI, positioning itself as a leader in the B2C CRM space [4][17] - The company aims to consolidate customer engagement tools into a single platform to enhance personalization and decision-making [19][22] - Klaviyo is expanding its enterprise pipeline and has formed a partnership with Accenture to drive integrated customer outcomes [22][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, projecting revenue between $1.501 billion and $1.509 billion for 2026, representing 21.5%-22.5% year-on-year growth [32] - The outlook for 2026 is considered de-risked, assuming minimal revenue contribution from new AI and service products, which are viewed as embedded upside [32][53] - Management highlighted the importance of AI in enhancing customer engagement and driving revenue growth [34][76] Other Important Information - Klaviyo processed 0.5 trillion customer interactions across 8 billion consumer profiles in the past year, translating into 3.7 billion daily signals [10] - The company has surpassed $1 billion in cash on hand for the first time, indicating strong financial health [31] Q&A Session Summary Question: What was the impact from the portfolio enforcement change in the quarter? - The portfolio enforcement change had a smaller impact on NRR compared to the growing usage of the platform across email and SMS products and the cross-sell of newer products [40] Question: How did SMS perform in the quarter versus expectations? - SMS performed strongly, with a transition from SMS to RCS allowing for better experiences, and the integration of Customer Agent into text messaging and WhatsApp driving increased usage [42][44] Question: Can you provide visibility into adoption and engagement trends by cohorts? - Adoption of the Customer Agent is seen across all customer segments, with a strong interest in training and quality of responses being the main concerns for businesses [48][50] Question: What is the limiting factor to an LLM or an AI-native company replicating Klaviyo's context? - Klaviyo's extensive dataset and real-time data infrastructure provide a significant competitive advantage that is difficult to replicate [56][58] Question: How does the Accenture partnership fit into Klaviyo's model? - The partnership with Accenture focuses on marketing and service reinvention, leveraging Klaviyo's capabilities to address fragmentation in customer experiences [68][70]

02.10.2026 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 presentation and accompanying oral commentary, including, but not limited to, statements about Klaviyo's outlook for the first quarter and the full fiscal year ending December 31, 2026, and Klaviyo's e ...