Shares of Klaviyo, Inc. (KVYO) plunged over 8% in after-hours trading on Wednesday, following the company's mixed fourth-quarter results and news of a potential stock offering.
The e-commerce marketing automation platform reported better-than-expected revenue for Q4 2024, with a 34% year-over-year increase to $270.16 million, beating Wall Street estimates of $257.29 million. However, Klaviyo's adjusted earnings per share of $0.07 fell slightly short of analyst projections, coming in lower than the $0.09 EPS reported in the same quarter last year.
Additionally, Klaviyo filed documents related to a potential offering of common stock by certain selling stockholders, although the number of shares and other details were not disclosed. The prospect of a secondary offering could be weighing on the stock price in after-hours trading.