Here's What Investors Should Know About Klaviyo's First Post-IPO Earnings
Klaviyo (NYSE: KVYO) is a recent IPO (initial public offering) stock that might be hitting its stride. Its share price slid following a hot IPO in September, but investors have been slowly returning to the stock. One reason for that is likely a reevaluation of its first set of quarterly results as a publicly traded company. Let's take a look at those earnings -- released Nov. 7 -- and tease out why the market might be getting more optimistic about the company.
For its third quarter, Klaviyo, which specializes in marketing and communications automation for businesses, booked total revenue of just under $176 million. This represented year-over-year growth of 48%. This rise was on the back of a roughly 24% increase in customer count to more than 135,000.
On the downside, the highly specialized tech company's net loss ballooned to more than $297 million ($1.24 per share) for the period compared to the year-ago deficit of less than $24 million. On average, analysts tracking the stock were expecting only $167 million and a bit of change for revenue, so Klaviyo notched a clear beat on that line item. No reliable consensus estimates for net loss were available.
Source Fool.com
