Filing Flows › Technology › Klaviyo (KVYO)
Klaviyo (KVYO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Klaviyo (KVYO) Q3 2026 earnings results →
Q3 2026 Revenue up 25% year over year to $387M · 0¢ of every $1 of revenue kept as net profit · operating margin -1.2%
Klaviyo made $387M in Q3 2026 (+25% Y/Y). Operating margin -1.2%, net earnings $704K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $387.2M in Q3 2026, up 25% year over year and up 4% from the previous quarter.
Gross margin was 74.2%, down 1.3 points from Q3 2025. Operating costs exceeded revenue by $4.5M, an operating margin of -1.2%. Operating expenses grew 19% against revenue growth of 25%. The fastest-growing cost line was Research & development (+34%). Net earnings were $704K. The effective tax rate was 65.9%. Non-operating items added $6.6M, 317% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $52.6M (down 4% year over year), 7479% of net earnings. Non-cash charges added back $12.7M of depreciation and amortization and $42.1M of share-based compensation. Working capital and other items used $2.9M. After acquisition of intangible assets ($15.3M) and acquisition of property and equipment ($8.0M) and capitalization of software development costs ($4.6M), free cash flow as the company reports it was $24.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $387M | +25% | -1.2% | $704K | $52.6M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $371M | +26% | -4.0% | −$8.8M | $93.9M |
| Q1 2026 | 10-Q | May 5, 2026 | $358M | +28% | 0.5% | $9.0M | $34.3M |
| Q4 2025 | 10-K | Feb 10, 2026 | $350M | +30% | -0.5% | $7.0M | $93.2M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $311M | +32% | -3.5% | −$426K | $54.8M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $293M | +32% | -10.7% | −$24.3M | $55.7M |
| Q1 2025 | 10-Q | May 6, 2025 | $280M | +33% | -8.5% | −$14.1M | $14.4M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Klaviyo
Klaviyo is a B2C CRM that helps consumer companies create smarter, stronger, and more valuable customer experiences. We unify the data, intelligence, and actions that define a consumer relationship into an infrastructure built for autonomy and scale. Over 193,000 businesses, from emerging creators to global enterprises, rely on our Klaviyo Data Platform (“KDP”) as the product to turn real-time consumer data into personalized, revenue-driving experiences across marketing, service and beyond. Our B2C CRM provides a single source of truth for consumer profiles, allowing businesses to understand their customers and act on that understanding immediately. Built for the AI era and open by design, Klaviyo populates consumer profiles with data from first-party systems using over 350 third-party integrations.
In its own words, from its 10-K, filed Feb 10, 2026.
Klaviyo against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +25% against the peers' median +19%. Operating margin: -1.2% against the peers' median 15.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| KVYO Klaviyo | Q3 2026 | $387M | +25% | -1.2% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Klaviyo 10-Q on SEC EDGAR · CIK 1835830 · Services-Prepackaged Software
Guidance and outlook
13F: who owns KVYO and who is buying
More on KVYO
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results