Filing Flows › Klaviyo (KVYO) › Q1 2025
Klaviyo (KVYO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Klaviyo (KVYO) reported revenue of $280M for the first quarter 2025 (Q1 2025), +33% from a year earlier and +4% from the quarter before. Operating margin was -8.5%, net loss $14.1M (5.0% of revenue).
Klaviyo, Q1 2025: revenue $280M (+33% year over year), operating margin -8.5%, net loss $14.1M, operating cash flow $14.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $280M | +4% | +33% |
| Operating profit | −$23.8M | — | — |
| Net earnings | −$14.1M | — | — |
| Operating cash flow | $14.4M | -76% | -45% |
| Free cash flow | $6.6M | — | -71% |
What changed
Revenue was $279.8M in Q1 2025, up 33% year over year and up 4% from the previous quarter.
Gross margin was 75.8%, down 2.8 points from a year earlier. Operating costs exceeded revenue by $23.8M, an operating margin of -8.5%. Operating expenses grew 26% against revenue growth of 33%. The fastest-growing cost line was Sales & marketing (+34%). The quarter ended with a net loss of $14.1M, narrower than the previous quarter's $27.0M loss. Non-operating items added $8.6M, -57% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $14.4M (down 45% year over year). Non-cash charges added back $4.8M of depreciation and amortization and $38.3M of share-based compensation. Working capital and other items used $14.7M. After capitalization of software development costs ($5.1M) and acquisition of property and equipment ($2.7M), free cash flow as the company reports it was $6.6M.
Questions
What was Klaviyo's revenue in the first quarter 2025?
Klaviyo (KVYO) reported revenue of $280M for the first quarter 2025 (Q1 2025), +33% from a year earlier and +4% from the quarter before.
Was Klaviyo profitable in the first quarter 2025?
Operating loss was $23.8M (-8.5% of revenue) and net loss $14.1M.
Source: Klaviyo 10-Q on SEC EDGAR.