“2025 was a breakout year for Klaviyo. We grew revenue by 32% to $1.2 billion and delivered 14% non-GAAP operating margin.” — CEO
“AI is an accelerant and opportunity for our customers and for us.” — CEO
“Q4 was a standout quarter... customers increased spend with us because we are the engine of their growth.” — CFO
“Service is on the steepest adoption curve in our company's history.” — CFO
“The shift towards autonomous, conversational and agent-driven experiences is happening faster than we could have anticipated.” — Chano
Prepared Metrics
Metric
Value
Speaker/Context
2025全年营收
12.34亿美元，同比+32%
CEO，CFO
Q4营收
3.50亿美元，同比+30%
CFO
2025非GAAP营业利润率
14%（全年），15%（Q4）
CFO
2025自由现金流利润率
16%
CFO
Q4自由现金流
8700万美元，同比+61%
CFO
现金余额
>10亿美元
CFO
客户数
>193,000
CEO
ARR>5万美元客户
3,912家，同比+37%
CFO
NRR
110%，同比+200bps
CFO
多产品客户ARR占比
60%
CFO
3+产品客户ARR占比
15%
CFO
国际收入增速（Q4）
41%
CFO
2026全年营收指引
15.01亿–15.09亿美元，+21.5%–22.5%
CFO
2026全年非GAAP营业利润率指引
14.5%–15%
CFO
2026 Q1营收指引
3.46亿–3.50亿美元，+23.5%–25%
CFO
2026 Q1非GAAP营业利润率指引
14.5%–15%
CFO
Q&A Batch (1-5 of 8)
Q1 — Unknown Analyst
Topic: Portfolio enforcement impact on NRR and SMS performance
Key points:
NRR has 3 drivers: growing usage of email/SMS, cross-sell of text messaging and newer products (marketing analytics, service), and portfolio enforcement (smallest contributor).
Automated flows drive up to 10x more revenue per message vs. static campaigns.
Over 29% of SMB+ customers now use SMS/text messaging products.
SMS transitioning to RCS (richer media, carousels, in-message actions); WhatsApp launched generally in last few months.
Mgmt stance: Bullish – SMS and RCS/WhatsApp have “a lot of upside”; Customer Agent integration into text messaging and WhatsApp driving usage.
Q2 — Kathleen Alexis Keyser
Topic: Service (Customer Agent) adoption by cohort and contribution to 2026 guidance
Key points:
Customer Agent adoption seen from entrepreneurs/SMB up to mid-market and enterprise (e.g., high-end fashion brand closed $800 dress sale without human interaction).
Two rate limiters: customers unsure how to train agents (Klaviyo building auto-training) and nervous about response quality (building simulated conversations).
2026 guidance includes “minimal contribution from service”; it is “embedded upside” in the model.
Mgmt stance: Bullish – service is early but strong traction; guidance reflects core momentum (international, mid-market/enterprise, new products) with service as potential accelerator.
Q3 — Gabriela Borges
Topic: Moat against AI-native competitors replicating Klaviyo’s context via API
Key points:
Klaviyo has 0.5 trillion data points last year, trillions historically, ~4 billion new signals daily (customer interactions with Klaviyo-powered experiences).
Infrastructure: database designed for real-time use cases – query attributes and make decisions in milliseconds, integrated with messaging, compliance, and personalization.
Mgmt stance: Bullish – data set and real-time infrastructure are “what set us apart”; hard to replicate both.
Q4 — Raimo Lenschow
Topic: Co-CEO Chano Fernandez’s enterprise background fit for Klaviyo’s SMB base
Key points:
Focus on scaling enterprise (best pipeline ever, doubled customers >$1M ARR last year) and operational strength (using AI internally for productivity gains, better alignment across product/engineering/go-to-market).
Investing in compliance and governance to serve enterprise.
Mgmt stance: Bullish – enterprise momentum is “very clear”; operational cadence and enterprise readiness are key contributions.
Q5 — David Hynes
Topic: Accenture partnership and its role in Klaviyo’s model
Key points:
Accenture sees Klaviyo as a partner for marketing reinvention and service reinvention, powering AI solutions for companies solving fragmentation.
Klaviyo’s Marketing Agent and Customer Agent create new work for agencies and SI partners.
Enterprise is a new opportunity; core SMB business remains “great cornerstone.”
Mgmt stance: Bullish – partnership is “instrumental”; more to share in coming months.