Klaviyo Q3 swings to net profit of $704,000; revenue rises 25% to $387.21 million
KVYO•Klaviyo reported third-quarter net income of $704,000, compared with a year-earlier loss, as revenue rose 25% to $387.21 million. It forecast fourth-quarter revenue of $421 million to $425 million and authorized a $300 million stock repurchase program.
1. Quarterly results and outlook
Klaviyo swung to third-quarter net income of $704,000 from a year-earlier loss, while revenue rose 25% year over year to $387.21 million. Customers generating more than $250,000 in annual recurring revenue climbed 49% to 390. The company forecast fourth-quarter revenue of $421 million to $425 million, representing approximately 21% year-over-year growth, and its board authorized a new $300 million Series A common stock repurchase program.
