to Klaviyo another to of up flow at year-over-year. and QX revenue as deliver quarter margin delivered close growth was efficient fourth the XX% out year we XX% quarter, to X%, year-over-year Andrew. Thanks, great Non-GAAP continue $XX In in performance a operating financial free strong was grew cash million, million. $XXX scale.
we well non-GAAP $XXX year, operating a of of up million, margin with XX%, Rule the XX% full the delivering For revenue XX. year-over-year, above of delivered
both these very profitability continue proud of deliver to results at are and growth we as scale. We
strategy. are data-first several our discussed results on evidence our and is these themes that key well growth Andrew cutting resonating, earlier, approach
and We customers, the mid-market, customers growing are expanding new in with expanding existing internationally. adding
XXX,XXX In XX,XXX XX% new more [ added and up QX, have we now than customers, we customers, ] year-over-year. over
we encouraging see and demand some as the heightened the We improved by season, And SMB stabilization end the quarter-over-quarter. space an that strength in this the to in low but during to nonetheless. SMB continue partially see number holiday driven the customers is high the of market. We sign of it notably, be may new started acknowledge
expected was in we in customers holiday the back our of millions driven benefited of the than included revenue a The April pricing revenue from by guidance. our stronger QX continued shopping came in though that also related realized during season. mid-single-digit majority value to high our the in platform made Our changes dollars,
landing of move had We in another up year-over-year. customers with show strong day generating $XX,XXX over cohort, we XX% of continuing the upmarket this to as trend new ARR, investments customers, success continued quarter ended larger customers X,XXX QX to Our adding from X. in
We XXX% or revenue add be which existing continue our to grow our to dollar-based as expansion stabilized usage retention customers they seen with ] NRR, as NRR was in rate, [ can their drive QX. QX products net and the in-period from for quarter. Notably, new our
it's I stability don't to X call data in want that metric. based on floor a our So see in to while some points, good
motion adding cross-sell deliver strong Our especially e-mail SMS. results, customers with continues to
of As XX% total our SMB than of mid-market customers. Klaviyo year-end, XX% combined of than and SMS and is customers more by more used our
be attach better Going product. we this of mid-market indication and believe a is in forward, will disclosing as only traction the rate SMB we our combined that SMS
on We update this will an basis. continue annual provide to
our XX% the notable QX, year-over-year international in from tremendous year both and Germany In you strength on grew while growth and fronts. year-over-year. this expansion revenue our accelerated France, revenue As heard in the we with Nordics, to international combined Andrew, XX% go-to-market EMEA made product progress
margins a our of extent, our were gross due X approximately and, down ], new builder. in to on. products Moving the increased non-GAAP holiday continued [ quarter SMS growth primarily employee to support points season, XX% costs year-over-year Fourth infrastructure of lesser
year, last the full down XX%, non-GAAP point margin For year. about from gross was X
was full recognized result item the the increased bonus related expenses. Turning from employee year a percentage to of impact to nonoperating in as the program QX. QX Each of a new accrual line as that of revenue
impact, was expenses of Cyber as additional R&D Aside support infrastructure. our to result Friday from Monday slightly that a higher Black
bonus G&A, international additional In tax-related employee to prior impact. the we an release, reserve similar quarters, had offset that
forward, line. our expect tax-related we releases not on that do a impact have reserve additional Going G&A material would
revenue our quarter, was income X.X%. operating as $XX than saw better representing in primarily non-GAAP result upside margin of quarter. non-GAAP the a was For expected the This of we a million, fourth operating the
million quarter, for full year, up interest prior $XX cash higher year-over-year, non-GAAP $XXX XX% operating margin income non-GAAP from and For income. due the million of the was operating and the both for income the We XX%. generated operating $XXX during flow XX% million a year, of free up to year
that yesterday. let been Klaviyo I including features me asking some and to pricing introduced went updates discuss for, pricing sending have new options. our Before downgrade get flexible guidance, customers that live auto
are believe consumer in XX%. to profile we our be to enforce compliant it are increases original In the a based will are be the power we profiles pricing a addition, pricing who moved because to out of price on plan. In we recommitting of the the and intent active compliance Customers to customer-friendly, of maximum contains. order to of value limiting data
Importantly, see a a pricing changes. to result of customers are not as most expected these increase
for importantly, Very some friction they are may for the do These generate customers expected said, That better minimal incremental future. us reduce customer which changes will anticipate full to benefit churn, our pricing we position revenue. QX. to impact and in though, year accounts
move company remain As a as consistent. we priorities growth our to XXXX,
to expanding customers. moving will adding new internationally, upmarket existing expanding with behind continue customers, invest We and
Our will be aligned investments with these in largely priorities. XXXX
we addition, expansion planning In as verticals. our as in are into new incremental well investments new products supporting
similar a XXXX to XXXX. perspective, will capital From we allocation anticipate be
our top priority, our support that will confident we're the investments growth is long-term sustainable to efforts are today making drive As we growth.
to turning guidance. Now
upmarket the billing of than revenue QX for also expect we the $X.XX QX. seasonality our prorated to benefit continued $X.XX QX, from from QX business in smaller by well million, For year-over-year and of representing of takes $XXX expectations to strength as million saw $XXX changes we account driven a into guidance This as our internationally. to growth
earlier our first expect of will year. to a income marketing operating including spend, quarter million, demand in We the that QX million This $XX.X $XX.X XX%. product margin non-GAAP non-GAAP guidance includes of place to operating expected generation tomorrow investments representing our and XX% take an event additional in increase
we bonus that accrued QX, the quarter. in recall forward, going expense employee each it XXXX be you'll in Additionally, will entire but accrued
fourth operating margin down you mid-single year-over-year up As the digits quarters result, non-GAAP X for quarter. should and the a each of expect to in be first year-over-year
guidance we impact that While few items flow, to our don't QX performance. I or on provide want will highlight cash a gross margin
cohort First, growing to of additional make investments support infrastructure customers. we to plan our larger
it While these QX investments will XXXX in in coming result scale expect below over time, slightly margin gross we our will XX%. gross margin of
QX. factors that you bonus build cash models, related your are go to is in to consider. payment will QX regarding One as there employee X program Second, flow, the our out
of In see some we'll of such the security first tax, greater seasonal a payroll-related items, impact addition, social in reset year. as half which typically have the the
QX As expect a flow cash will we result, our free be negative.
As to also but only starting account own in not into our of the are full look which year, are some business, trends the taking we broader stay, we to environment. the
external guidance sustained in are We assuming but small we cautiously a meaningful in improving change about are purchasing optimistic our business improvement the we not see behavior. sentiment, yet until
to expectations growth of of our $X.XXX on to with consistent initiating billion $X.XXX the XX%, said, that we year for call. the QX set guidance XX% billion XXXX, With are we for full revenue year-over-year
QX. operating million, the impact as non-GAAP spending, we income income different in heavily with ] the XX% to year's representing [ timing of non-GAAP expect operating of operating our lighter year of and to weighted million to income expect XX%. last quarters marketing margin accrual this more $XXX bonus We a the of X in operating look first linearity from well as annual Because of $XXX
the continued is where I discussed QX consistent by discussed previously. ended investments we primarily we drivers our our to As operating non-GAAP on call, XXXX margin growth in driven roughly
year for closing, In great XXXX Klaviyo. a was
differentiate and are executing we power expand to vertically helping to integrated scope in ourselves Clavo deliver continue that with even are our customer platform, to market experiences the excited and growth. the omnichannel We data of our strategy, more improve growth our brands journey, fuel
delivering continue to at for customers. and continue positioned drive well scale are to success as We growth our profitability we
And up with the open that, call for Operator? Q&A. I'll
