Klaviyo, Inc. (KVYO) Earnings
Klaviyo, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $0.19. KVYO has beaten EPS estimates in 4 of its last 4 reported quarters (average surprise +22.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.19 | $0.22 | +15.8% | $358M | +2.7% |
| Nov 5, 2025 | $0.14 | $0.18 | +28.9% | $311M | +3.5% |
| Feb 19, 2025 | $0.06 | $0.07 | +16.7% | $270M | +2.1% |
| Feb 27, 2024 | $0.07 | $0.09 | +28.6% | $202M | +2.8% |
| Sep 20, 2023 | — | $0.04 | — | $165M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- AI is central to strategy, with agents and infrastructure forming the autonomous B2C CRM. - Revenue growth, strong operating margin, and high number of brands on the platform. - Investments in AI, with annualized revenue per full-time employee up. - Shipped over 75 features in Q1, including Composer private preview, and partnerships with Google, Anthropic, etc. - Composer's expanded scope and customer usage examples. - Customer Agent's growth and results. - Data infrastructure enabling one-to-one personalization. - Enterprise momentum with new customers and expansions, and Forrester Wave recognition. - International growth with specific customer examples and product capabilities. - Cross-sell motion and text messaging strategy.
Guidance
- Raised full year 2026 revenue guidance by $13 million at the midpoint, projecting revenue between $1.514 billion and $1.522 billion, 23% year-on-year growth. - Raised full year 2026 non-GAAP operating income guidance to a range of $222 to $228 million, non-GAAP operating margin of approximately 14.5 to 15%. - Q2 expected revenue of $359 to $363 million, growth of approximately 23 to 24%, non-GAAP operating income of $47.5 to $50.5 million, non-GAAP operating margin of 13 to 14%. - Sequential step up in revenue from Q3 to Q4 expected similar to last year, and higher operating margins in Q4 driven by timing of investments and AI efficiencies.
Segment performance
Revenue increased 28% year over year to $358 million. Non-GAAP operating margin increased to over 16%. More than 196,000 brands are on the platform. Enterprise, international, and B2C CRM platform had strong momentum. Annualized revenue per full-time employee in Q1 was over $600,000, up more than 25% year over year. Composer, Customer Agent, and data infrastructure contributed to performance. International revenue outside the Americas grew 39% year over year in Q1, and five of the top 10 largest new customers are from EMEA.
Analyst Q&A
Q: Samad Samana from Jefferies asked about Composer adoption and guidance precision.
A: On Composer, it has expanded scope for marketing creation and analysis, with positive feedback and future monetization work. On guidance, tighter beat reflects improved forecasting ability due to scale and strong Q1 performance.
Q: DJ Hines from Canaccord Genuity asked about agency partners.
A: Agencies are accelerating adoption of Composer and Customer Agent, helping with setup and driving growth.
Q: Rob Oliver from Baird asked about enterprise install base and partner contribution.
A: Enterprise has strong momentum with large wins, growth in 50K+ ARR customers, and work with partners like Accenture.
Q: Reimer Lenschau from Barclays asked about carrier fees.
A: Klaviyo has chosen not to pass through carrier fees for customer predictability, with intentional choices for future.
Q: Nick Altman from BDIG asked about Composer monetization and carrier fees.
A: Composer is a new revenue stream with halo effects on usage, and carrier fees are a separate intentional customer-first choice.
Q: Suti Panigrahi from Mizuho asked about NRR drivers.
A: NRR driven by customer usage expansion, cross-sell, and lapping of prior profile enforcement.
Q: Callie Valenti from Goldman Sachs asked about sequential growth seasonality.
A: Less seasonality due to profile enforcement, with strength in international and enterprise.
Q: Scott Berg from Needham and Company asked about marketing budgets.
A: Marketing budgets driven by revenue generation focus, consolidation, personalization, and productivity increase.