Klaviyo Inc Reports Second Quarter Financial Results for 2024
Intellectia.AI Updated: 2024-08-08
Klaviyo, Inc. Reports Second Quarter Financial Results for 2024
Klaviyo, Inc. (NYSE: KVYO), a technology company focusing on marketing automation within eCommerce, reported its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change | QoQ Change | Consensus Estimate |
|---|---|---|---|---|---|
| Total Revenue | $222.2M | $164.6M | +35.0% | +4.3% | $212.31M |
| Earnings Per Share | $0.19 | $0.15 | +26.7% | +9.5% | $0.1 |
Interpretation: Klaviyo, Inc. experienced significant year-over-year growth in both total revenue and earnings per share (EPS). The revenue surpassed the consensus estimate of $212.31M by 4.7%. The company also achieved quarter-over-quarter revenue growth of 4.3%, indicating stability and sustained growth.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change |
|---|---|---|---|
| Subscription Revenue | $214.2M | $158.3M | +35.3% |
| Professional Services | $8.0M | $6.3M | +27.0% |
Interpretation: Most of the revenue came from subscription services, which grew by 35.3% year over year. Professional services also showed a healthy increase, reinforcing the robustness of Klaviyo's diversified revenue streams.
Operational Metrics
| Metric | Q2 2024 | Notes |
|---|---|---|
| Customers | 151,000 | |
| International Revenue | 31.9% of total | |
| Customers >$50k ARR | 2,386 | |
| NRR | 112% |
Stock Price Movement
Following the earnings release, the stock saw a 4.1% increase, reflecting investor confidence in Klaviyo’s robust financial performance.
This earnings report highlights Klaviyo, Inc.'s strong financial performance for the second quarter of 2024, driven by significant increases in both subscription and professional service revenues, as well as a solid customer base and international growth.
Note: Sections such as executive commentary, dividends, and specific forward guidance were skipped due to insufficient information.
