Klaviyo (KVYO) financial statements
Klaviyo reported revenue of $1.2B in fiscal 2025, up 43.5% a year over 4 years.
Net income was -$32M and the operating margin -5.5%, against -27.3% in 2021.
Free cash flow was $190M.
The diluted share count rose 32% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Klaviyo's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $291M | $473M | $698M | $937M | $1.2B |
| Cost of revenue | $85M | $128M | $178M | $221M | $313M |
| Gross profit | $206M | $345M | $520M | $716M | $921M |
| Research and development | $66M | $104M | $262M | $238M | $291M |
| Selling, general and admin | $220M | $296M | $589M | $562M | $698M |
| Operating income | -$79M | -$55M | -$331M | -$84M | -$68M |
| Interest expense | $8,000 | $0 | $0 | — | — |
| Pre-tax income | -$79M | -$49M | -$307M | -$44M | -$31M |
| Income tax | $319,000 | $83,000 | $1M | $2M | $1M |
| Net income | -$79M | -$49M | -$308M | -$46M | -$32M |
| EPS (diluted) | -$0.36 | -$0.21 | -$1.27 | -$0.17 | -$0.11 |
| Diluted shares | 221M | 230M | 243M | 266M | 291M |
| Gross margin | 70.9% | 72.9% | 74.5% | 76.4% | 74.7% |
| Operating margin | -27.3% | -11.6% | -47.4% | -9.0% | -5.5% |
| Net margin | -27.3% | -10.4% | -44.2% | -4.9% | -2.6% |
Balance sheet
Fiscal years, from Klaviyo's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $328M | $386M | $739M | $881M | $1.1B |
| Receivables | — | $11M | $23M | $43M | $61M |
| Total current assets | — | $428M | $803M | $980M | $1.2B |
| Property, plant and equipment | — | $46M | $43M | $48M | $80M |
| Total assets | — | $629M | $1.1B | $1.3B | $1.6B |
| Total current liabilities | — | $85M | $131M | $200M | $282M |
| Total liabilities | — | $133M | $174M | $239M | $384M |
| Shareholders' equity | -$2.2B | -$1.0B | $915M | $1.0B | $1.2B |
| Net debt | -$328M | -$386M | -$739M | -$881M | -$1.1B |
Cash flow
Fiscal years, from Klaviyo's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$23M | -$24M | $119M | $166M | $218M |
| Capital spending | $14M | $18M | $9M | $17M | $28M |
| Free cash flow | -$37M | -$42M | $110M | $149M | $190M |
| Stock-based compensation | $35M | $7M | $341M | $135M | $162M |
| Share buybacks (net) | -$140M | $0 | $0 | — | — |
| Free cash flow margin | -12.6% | -8.8% | 15.8% | 15.9% | 15.4% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for KVYO.
Open KVYO in InvestinglyQuestions
What was Klaviyo's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Klaviyo generate?
$190M in fiscal 2025 (operating cash flow minus capital spending).
From Klaviyo's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.