Q2 2024 Klaviyo Inc Earnings Call Transcript
Key Points
- Revenue grew 35% year over year to $222 million, exceeding expectations.
- Added over 5,000 new customers in Q2, bringing the total to more than 151,000 customers.
- Strong international growth, with revenue in EMEA accelerating to 45% year over year.
- Continued investment in AI features, enhancing productivity and marketing strategies.
- High customer retention rates, with a dollar-based net revenue retention rate of 112%.
- Softness in the SMB market, with fewer ads in the larger SMB space and longer sales cycles.
- Expected decline in net revenue retention rate due to macro pressures and customer trends.
- Non-GAAP operating margin guidance for Q3 is lower at 10% to 11%, compared to 15% in Q2.
- Continued pressure on gross margins due to the growing SMS business.
- Headcount growth came in lighter than expected, potentially impacting future capacity.
Please stand by for streaming text.
Yes, good afternoon, and welcome to Criteo's Second Quarter Fiscal 2024 earnings conference call.(Operator instructions).
Thank you. With that, I would like to turn the call over to Andrew Zilli, Vice President of Investor Relations. Please, Carla.
Thanks. Good afternoon, and thanks for joining Criteo's Second Quarter 2024 earnings call. Our earnings press release, investor presentation and SEC filings and a replay of today's call can be found on our IR website at investors.Klaviyo.com.
With me on the call today are Andrew biking, Co-Founder and CEO, and Amanda Whalen, CFO.
As a reminder, our commentary today will include non-GAAP measures. Reconciliations to the most directly comparable GAAP measures can be found in today's earnings press release or earnings release supplemental materials, which can be found on our Investor Relations website. Additionally, some of our comments today may contain forward
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