Klaviyo Inc (KVYO)

NYSEInformation TechnologySoftware - ApplicationSnapshot 2026-10-23

$21.11+2.53%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Klaviyo Inc’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-0.6%

+10% or more+5%0%−5%−10% or less

1.06 → 1.05 EPS · FY ending Dec 31, 2027 · 12 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 12 to 12; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	422.7M
EPS	—	0.245
Annual ending 2026-12-31
Revenue	—	1.53B
EPS	—	0.824
Annual ending 2027-12-31
Revenue	—	1.83B
EPS	—	1.052

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Operating income improves to positive territory	Operating income improved to $1.7 million in Q1 2026 from a loss last quarter.	Intact	Operating income remains negative beyond 2026-Q1	Operating income: $-14.963M FY2026-Q2; GAAP. Published target: >= $1.7 million. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 5, 2026-14,963,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: acd22b9b-014d-477c-bda2-ddace9e216c4. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue reaches at least $1.5 billion in 2026	A primary condition in Klaviyo Inc's published investment case. The stated target is >= $1.5 billion.	Intact	Revenue falls below $1.215 billion in FY26	Revenue: $370.576M FY2026-Q2; GAAP. Published target: >= $1.5 billion. Target period is not explicitly aligned with this observation. Source published Aug 5, 2026370,576,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: acd22b9b-014d-477c-bda2-ddace9e216c4. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Revenue grew from $293.1M in 2025-Q2 to $370.6M in 2026-Q2, a 26% increase. FY26 revenue guidance was raised to $1.526B-$1.534B, implying 24% growth year over year. Management consistently emphasizes growth via international expansion, enterprise customers, and multi-product adoption, and the financials show delivering progress. Delivery assessment Oct 24, 2026
Implement $500 million share repurchase program	The company started a $500 million share buyback program to boost shareholder value.	Intact	No meaningful buyback activity by end of 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$1.05

$1.04 → $1.05 · observed estimates

FY2027 revenue$1.83B

$1.82B → $1.83B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$1.04	$1,816,420,788	12 / 15
2026-07-25	$1.04	$1,816,420,788	12 / 15
2026-07-26	$1.04	$1,816,436,650	22 / 20
2026-07-27	$1.04	$1,816,420,788	12 / 15
2026-07-28	$1.04	$1,816,420,788	12 / 15
2026-07-29	$1.04	$1,816,436,650	22 / 20
2026-07-30	$1.04	$1,816,436,650	22 / 20
2026-07-31	$1.04	$1,816,420,788	12 / 15
2026-08-01	$1.04	$1,816,420,788	12 / 15
2026-08-02	$1.04	$1,816,436,650	22 / 20
2026-08-03	$1.04	$1,816,436,650	22 / 20
2026-08-04	$1.04	$1,816,436,650	22 / 20
2026-08-05	$1.04	$1,816,436,650	22 / 20
2026-08-06	$1.04	$1,816,420,788	12 / 15
2026-08-07	$1.05	$1,827,709,373	12 / 15
2026-08-08	$1.05	$1,830,049,680	22 / 20
2026-08-09	$1.05	$1,827,709,373	12 / 15
2026-08-10	$1.05	$1,827,709,373	12 / 15
2026-08-12	$1.05	$1,827,709,373	12 / 15
2026-08-13	$1.06	$1,830,649,680	21 / 20
2026-08-14	$1.05	$1,827,709,373	12 / 15
2026-08-15	$1.05	$1,827,709,373	12 / 15
2026-08-16	$1.05	$1,827,709,373	12 / 15
2026-08-17	$1.05	$1,827,709,373	12 / 15
2026-08-18	$1.05	$1,827,709,373	12 / 15
2026-08-19	$1.05	$1,827,709,373	12 / 15
2026-08-20	$1.06	$1,830,649,528	12 / 15
2026-08-21	$1.06	$1,830,649,528	12 / 15
2026-08-22	$1.06	$1,830,649,528	12 / 15
2026-08-23	$1.06	$1,830,649,528	12 / 15
2026-08-24	$1.06	$1,830,649,528	12 / 15
2026-08-25	$1.06	$1,830,649,528	12 / 15
2026-08-26	$1.06	$1,830,649,528	12 / 15
2026-08-27	$1.06	$1,830,649,528	12 / 15
2026-08-28	$1.06	$1,830,649,528	12 / 15
2026-08-29	$1.06	$1,830,649,528	12 / 15
2026-08-30	$1.06	$1,830,649,528	12 / 15
2026-08-31	$1.06	$1,830,649,528	12 / 15
2026-09-01	$1.06	$1,830,649,528	12 / 15
2026-09-02	$1.06	$1,830,649,513	12 / 15
2026-09-03	$1.06	$1,830,666,202	12 / 15
2026-09-04	$1.06	$1,830,666,202	12 / 15
2026-09-05	$1.06	$1,830,666,202	12 / 15
2026-09-06	$1.06	$1,830,666,202	12 / 15
2026-09-07	$1.06	$1,830,666,202	12 / 15
2026-09-08	$1.06	$1,830,666,202	12 / 15
2026-09-09	$1.06	$1,830,666,202	12 / 15
2026-09-10	$1.06	$1,830,666,202	12 / 15
2026-09-11	$1.06	$1,830,666,598	12 / 15
2026-09-12	$1.06	$1,830,847,550	12 / 15
2026-09-13	$1.06	$1,830,847,550	12 / 15
2026-09-14	$1.06	$1,830,847,550	12 / 15
2026-09-15	$1.06	$1,830,837,036	12 / 15
2026-09-16	$1.06	$1,830,837,036	12 / 15
2026-09-17	$1.06	$1,830,837,036	12 / 15
2026-09-18	$1.06	$1,830,837,036	12 / 15
2026-09-19	$1.06	$1,830,837,036	12 / 15
2026-09-20	$1.06	$1,830,837,036	12 / 15
2026-09-21	$1.06	$1,830,837,036	12 / 15
2026-09-22	$1.06	$1,830,837,036	12 / 15
2026-09-23	$1.06	$1,830,837,036	12 / 15
2026-09-24	$1.06	$1,830,837,036	12 / 15
2026-09-25	$1.06	$1,830,837,036	12 / 15
2026-09-26	$1.06	$1,830,837,036	12 / 15
2026-09-27	$1.06	$1,830,837,036	12 / 15
2026-09-28	$1.06	$1,830,837,036	12 / 15
2026-09-29	$1.06	$1,830,837,036	12 / 15
2026-09-30	$1.06	$1,830,837,036	12 / 15
2026-10-01	$1.06	$1,830,837,036	12 / 16
2026-10-02	$1.06	$1,830,837,036	12 / 16
2026-10-03	$1.06	$1,830,837,036	12 / 16
2026-10-04	$1.06	$1,830,837,036	12 / 16
2026-10-05	$1.06	$1,830,837,036	12 / 16
2026-10-06	$1.06	$1,830,837,036	12 / 16
2026-10-07	$1.06	$1,830,837,036	12 / 16
2026-10-08	$1.06	$1,830,837,036	12 / 16
2026-10-09	$1.06	$1,830,837,036	12 / 16
2026-10-10	$1.06	$1,830,837,036	12 / 16
2026-10-11	$1.06	$1,830,837,036	12 / 16
2026-10-12	$1.06	$1,830,837,036	12 / 16
2026-10-13	$1.06	$1,830,837,036	12 / 16
2026-10-14	$1.06	$1,830,837,036	12 / 16
2026-10-15	$1.06	$1,830,598,941	12 / 16
2026-10-16	$1.06	$1,830,598,941	12 / 16
2026-10-17	$1.06	$1,830,598,941	12 / 16
2026-10-18	$1.05	$1,829,348,512	12 / 16
2026-10-19	$1.05	$1,829,348,512	12 / 16
2026-10-20	$1.05	$1,829,348,512	12 / 16
2026-10-21	$1.05	$1,829,348,512	12 / 16
2026-10-22	$1.05	$1,829,348,493	12 / 16
2026-10-23	$1.05	$1,829,348,493	12 / 16
2026-10-24	$1.05	$1,829,348,493	12 / 16

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	22	1
2026-06-01	22	1
2026-07-01	22	1
2026-08-01	21	2
2026-09-01	21	2
2026-10-01	21	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 21 Buy / Strong Buy · 3 Hold · 0 Sell / Strong Sell

0 upgrades1 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Goldman SachsOct 16 · prior Jun 24

$26.00 → $20.00-23.1%

$0$14.30$28.60

0 raises · 1 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Operating income improves to positive territoryOperating income: $-14.963M
Revenue reaches at least $1.5 billion in 2026Revenue: $370.576M
Implement $500 million share repurchase programDirect metric needs a verified mapping

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.7%Typical daily move · historical

Downside history

-61.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Klaviyo Inc outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a growth-oriented software business, not yet a proven profitable compounder: the evidence classifies earnings quality and value as loss-making. The thesis is on watch after the signal turned cautious, with medium confidence in the evidence.

What's priced into Klaviyo Inc

KVYO is valued at a 1.54 premium to peers, while the expectations gap is negative, suggesting market expectations may be ahead of what current fundamentals support. The model labels what is priced in as justified and fragility as low, but valuation has fallen materially in the recent change data.

What the fundamentals likely do

Near term, revenue growth remains strong: revenue rose 26% year over year in the latest comparable quarters, and management raised FY26 revenue guidance to imply 24% growth. Margin progress is less even, with non-GAAP operating margin moving from 16% in Q1 to 14% in Q2, though the full-year margin outlook was raised; recent performance has been weak, and an earnings miss was recorded in August.

What Klaviyo Inc hinges on

Over the next one to three years, the thesis depends on growth from international expansion, enterprise customers, and broader product use continuing while margins improve. A reversal and cut to recently raised guidance would damage management credibility, while easing interest rates or continued strength among large software peers could support the sector backdrop.