Shares of Klaviyo, Inc. (KVYO) plummeted 9.33% in after-hours trading on Wednesday, reversing gains from the regular session. The sharp decline came even as the B2C CRM platform reported second-quarter financial results that surpassed analyst expectations for both revenue and profit.
The company posted Q2 revenue of $370.6 million, topping the consensus estimate of $362.1 million, and announced a raised full-year revenue guidance to a range of $1.526 billion to $1.534 billion. Management attributed the strong performance to broad-based strength across enterprise, international markets, and multi-product adoption, alongside robust growth in its AI-powered products like Composer and Customer Agent.
Despite the beat-and-raise quarter, which also included news of an acquisition of AI-native customer success company Agency, investor sentiment soured after the release. The after-hours sell-off suggests that the positive results and forward-looking commentary may have already been priced in, or that market participants were focusing on other details in the report, such as the reported net loss of $8.85 million.
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