Klaviyo IPO Presentation Deck
GAAP to Non-GAAP reconciliation (cont'd)
Non-GAAP Operating (Loss) Income
(in thousands)
Operating Loss on a GAAP Basis
Add: Amortization of Prepaid Marketing Expense
Add: Stock-Based Compensation Expense ¹
Add: Restructuring Expense ²
2
Non-GAAP Operating Income (Loss)
Revenue
Operating Margin
Year Ended December 31
2021
($79,233)
35,248
($43,985)
$290,640
(27.3%)
2022
($55,036)
22,040
6,802
($26, 194)
$472,748
(11.6%)
Non-GAAP Operating Margin
(15.1%)
(5.5%)
¹ Represents non-cash share-based awards granted. During the years ended December 31, 2022 and 2021, stock-based compensation expense of $1.5 million and $16.7 million, respectively, related
to repurchasing and retiring our common stock which was paid in cash, and thus are excluded from the table above.
2 Represents restructuring costs incurred in connection with a reduction in the Company's workforce announced in March 2023. During the period ended March 31, 2023, stock-based compensation
expense of approximately $0.5 million related to the reduction in workforce is excluded from restructuring expense and included in stock-based compensation from the table above.
Six Months Ended June 30
2022
($25,296)
5,723
($19,573)
$208,345
(12.1%)
(9.4%)
2023 Ⓒ Klaviyo
2023
$7,910
26,448
2,342
7,366
$44,066
$320,674
2.5%
13.7%
Confidential
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