Filing Flows › Klaviyo (KVYO) › Q1 2026
Klaviyo (KVYO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Klaviyo (KVYO) reported revenue of $358M for the first quarter 2026 (Q1 2026), +28% from a year earlier and +2% from the quarter before. Operating margin was 0.5%, net earnings $9.0M (2.5% of revenue).
Klaviyo, Q1 2026: revenue $358M (+28% year over year), operating margin 0.5%, net earnings $9.0M, operating cash flow $34.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $358M | +2% | +28% |
| Gross profit | $269M | +6% | +27% |
| Operating profit | $1.7M | — | — |
| Net earnings | $9.0M | +29% | — |
| Operating cash flow | $34.3M | -63% | +139% |
| Free cash flow | $18.6M | — | — |
What changed
Revenue was $358.0M in Q1 2026, up 28% year over year and up 2% from the previous quarter.
Gross margin was 75.1%, down 0.7 points from Q1 2025. Operating profit was $1.7M, a 0.5% margin (up 9.0 points year over year). Operating expenses grew 13% against revenue growth of 28%. The fastest-growing cost line was General & admin (+23%). Net earnings were $9.0M. The effective tax rate was 15.7%. Non-operating items added $9.0M, 84% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $34.3M (up 139% year over year), 379% of net earnings. Non-cash charges added back $6.3M of depreciation and amortization and $41.8M of share-based compensation. Working capital and other items used $22.9M. After acquisition of property and equipment ($11.7M) and capitalization of software development costs ($3.6M) and purchase of other non-current assets ($485K), free cash flow as the company reports it was $18.6M.
Questions
What was Klaviyo's revenue in the first quarter 2026?
Klaviyo (KVYO) reported revenue of $358M for the first quarter 2026 (Q1 2026), +28% from a year earlier and +2% from the quarter before.
Was Klaviyo profitable in the first quarter 2026?
Operating profit was $1.7M (0.5% of revenue) and net earnings $9.0M.
Source: Klaviyo 10-Q on SEC EDGAR.