Has anyone looked at this company? They are guiding for 47% revenue growth of $693.5, with non-gaap margin of +11% …This puts them at the top of the elite level of SaaS companies. Very similar market cap/scale/revenues/valuation to $MNDY, but growing faster with better margins. I’m trying to figure out why it traded down post earnings.
I can’t say why the stock got hit after earnings, but I do know that they are a very recent IPO (September) and are a competitor to Braze (BRZE) in the customer engagement space.
I got into Braze back in May and it was my best performing stock by September; but I took my gains and got out when Klaviyo went public since the space was already crowded and I worried about yet more competition.
Klaviyo’s IPO was pretty hyped, imo, so the reaction to earnings might just be a post-IPO settling back to earth. But it’s a company worth watching, especially with an eye toward whether it can, in fact, take share from Braze.
BRZE is an interesting comp as far as valuation goes, I did notice they continued to grow steadily throughout the macro - the growth of KVYO is significantly faster on a higher revenue base. A large part of KVYO revenues comes through the shopify integration, SHOP is also an investor in the business.