Klaviyo Inc-A 2024年度报告

Fellow owners of Klaviyo: We founded Klaviyo with an idea that was simple but pretty ambitious: improve the trillions of potentialconnections between businesses and consumers. We built a best-in-class database (the “brain”) andapplication (the “voice”) to deliver personalized software-powered experiences to help brands connectwith consumers and grow their business. Fast-forward to today: Klaviyo’s data-first platform is anessential single source of truth for consumer businesses navigating the shifts of the last decade. As consumers push for more, Klaviyo gives businesses personalization at scale, real-time insights,automated attribution, and a partner ecosystem with 350+ pre-built integrations. We’ve earned customertrust with marketing automation, which we keep improving for more complex use cases, as we alsoconnect Klaviyo to more applications and more kinds of businesses, worldwide. Critically, we do so whiledriving measurable economic value for our customers and efficient growth for our stockholders. 2024 was an exceptional year for Klaviyo. We exceeded the rule of 40, growing revenue by 34% to$937 million and achieving a non-GAAP operating margin of 12%, with nearly $150 million in free cashflow.1We are proud of these results which position Klaviyo in rarefied air as a top-tier software companydriving growth, profitability, and cash generation at scale. We also made great progress executing our growth strategy.We are adding new customers, growingin the mid-market, expanding with existing customers, and scaling internationally. In 2024, our totalcustomer base grew by 17% reaching over 167,000, and our $50K+ ARR customer cohort grew by 46%with global enterprise brands like TaylorMade, The Body Shop, Samsonite, and Reebok choosingKlaviyo. We ended the year with Q4 NRR of 108%, driven by strong gross revenue retention rates andSMS attach rates, as 26% ofour SMB and mid-market customers are now using Klaviyo SMS.2Ourinvestments to internationalize our offering are also yielding results, as our platform is now available inseven languages, and we offer SMS capabilities in 19 countries, contributing to a 41% increase in APACand EMEA revenue for the full year. Our data-first approach and pace of innovation continue to set us apart in the market.Klaviyo DataPlatform (KDP) is the foundation of our platform and designed to handle large volumes of data withspeed, flexibility, and no expiration. On top of our data layer, we have built smart applications. We beganwith marketing where we redefined email–moving the industry away from a batch and blast mindset witha fast, data-rich marketing tool. Over the last 13 years, we’ve expanded our marketing automation suitewith SMS, reviews and more, solidifying Klaviyo as the leading platform for powering digital relationships. We have delivered tremendous success, but we’ve always had a much bigger vision of howKlaviyo can help B2C businesses.In February of this year, we announced Klaviyo B2C CRM–the firstand only CRM solution built to handle the complexity of B2C businesses. This is something customershave been asking for and is long overdue. Despite consumer spending making up the vast majority of theglobal economy, consumer brands have been grossly underserved. For years, B2C brands have had torely on point solutions,fragmented tech stacks, or legacy CRM software built for the long, slow salescycles of B2B companies. Until now. With B2C CRM we’re adding customer service and marketinganalytics to connect the entire consumer experience–from discovery to post-purchase. We believe this integrated, data-driven approach is the future of consumer engagement and weare excited to deliver on it for our customers.We have had a great response so far to our newofferings, including Customer Hub, our foray into service that offers a fully-branded, easy-on self-servesolution. Customer Hub will be generally available later this year, along with several other new productand feature innovations in our pipeline. The products and platform we are delivering today are setting the stage for sustainable growth in2025 and beyond.As we often say at Klaviyo, we are 1% done. We’re proud of what we have achievedbut we are just getting started–our greatest products, work, and achievements are in front of us as wecontinue to push the boundaries of what's possible in consumer engagement. On behalf of the entire Klaviyo team and the Board of Directors, thank you for your ongoing support as weexecute our growth strategy, redefine consumer engagement, and build a company that we can all beproud of for decades to come. Sincerely, Andrew BialeckiCEO, Co-Founder, and Chairperson of the Board UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-K (Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the fiscal year ended December 31, 2024 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 C