Klaviyo provided a slightly better-than-expected revenue forecast for the December quarter, but its shares still fell in after-hours trading Tuesday.
Klaviyo went public in September after pricing its initial public offering at $30 a share. The marketing software company was founded in 2012 and helps companies with digital marketing campaigns through the use of email and text messages. For the September quarter, Klaviyo reported revenue of $175.8 million, which was above analysts’ expectations of $167.2 million, according to FactSet.
Guidance was also solid. Klaviyo gave a revenue forecast for the current quarter, ending in December, of $195 million to $197 million—which was above the consensus of $194.7 million. Klaviyo shares fell 1.9% to $31.90 in premarket trading Wednesday, the morning after the release. The stock rose 3.5% earlier in Tuesday’s regular trading session.
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