Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Klaviyo reported second quarter 2026 revenue of $370.6 million, marking a 26% year-over-year increase, which surpassed company guidance and reflects broad-based growth across enterprise clients, international expansion, and multiproduct adoption.</li><li>The company has achieved an annualized revenue run rate nearing $1.5 billion and now serves over 205,000 brands with its autonomous B2C CRM platform.</li><li>Revenue growth is driven by large enterprise deals, including an eight-figure multiproduct contract with a fast-growing e-commerce brand, and strong traction with mid-market customers.</li></ul>

Klaviyo reported second quarter 2026 revenue of $370.6 million, marking a 26% year-over-year increase, which surpassed company guidance and reflects broad-based growth across enterprise clients, international expansion, and multiproduct adoption.The company has achieved an annualized revenue run rate nearing $1.5 billion and now serves over 205,000 brands with its autonomous B2C CRM platform.Revenue growth is driven by large enterprise deals, including an eight-figure multiproduct contract with a fast-growing e-commerce brand, and strong traction with mid-market customers.

Klaviyo’s 100%+ Marketing Analytics Growth — Can Multiproduct Adoption Supercharge ARR?

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

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  <li>
<a href="https://smartkarma.com/entities/klaviyo-inc">Klaviyo </a>is a high-growth leader in the e-commerce marketing automation niche, demonstrating robust revenue increases and a strong customer base, particularly within the Shopify ecosystem.</li>
  <li>The company's competitive moat is built on deep e-commerce integrations and high switching costs, though it faces intense competition from larger software providers and a rapidly closing feature gap.</li>
  <li>While revenue growth is strong and the company is generating positive free cash flow, it has a history of net losses and faces pressure on margins, raising questions about the long-term sustainability of its growth model.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Klaviyo is a high-growth leader in the e-commerce marketing automation niche, demonstrating robust revenue increases and a strong customer base, particularly within the Shopify ecosystem.
  The company's competitive moat is built on deep e-commerce integrations and high switching costs, though it faces intense competition from larger software providers and a rapidly closing feature gap.
  While revenue growth is strong and the company is generating positive free cash flow, it has a history of net losses and faces pressure on margins, raising questions about the long-term sustainability of its growth model.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Sacra estimates that Postscript hit $150M in annual recurring revenue (ARR) in August 2026, up 18% from $127M at the end of 2025.</li><li>Installs for Postscript on Shopify have risen 26.5% YoY.</li><li>Shopper extends Postscript from scheduled messages into product recommendations, purchase objections, and ongoing customer conversations over SMS and RCS.</li></ul>

Sacra estimates that Postscript hit $150M in annual recurring revenue (ARR) in August 2026, up 18% from $127M at the end of 2025.Installs for Postscript on Shopify have risen 26.5% YoY.Shopper extends Postscript from scheduled messages into product recommendations, purchase objections, and ongoing customer conversations over SMS and RCS.

<ul><li>Sacra estimates that Attentive hit $500M in annual recurring revenue (ARR) at the end of 2024, up from $200M in 2022.</li><li>Attentive reported powering more than $29B in revenue for customers in the year ending September 2025, up more than 48% from the prior year.</li><li>Attentive reached a $6.90B valuation as of 2021, with their funding round led by Bain Capital Ventures and Coatue.</li></ul>

Sacra estimates that Attentive hit $500M in annual recurring revenue (ARR) at the end of 2024, up from $200M in 2022.Attentive reported powering more than $29B in revenue for customers in the year ending September 2025, up more than 48% from the prior year.Attentive reached a $6.90B valuation as of 2021, with their funding round led by Bain Capital Ventures and Coatue.

<ul><li>Klaviyo recently announced its fourth quarter and full-year 2025 financial results, revealing both strengths and challenges that investors should consider.</li><li>The company demonstrated a strong financial performance with a 32% year-over-year revenue increase to $1.2 billion and an improvement in its non-GAAP operating margin to 14%.</li><li>These figures underscore Klaviyo’s successful expansion in its enterprise customer base and international markets, with its customer count surpassing 193,000, spanning over 100 countries.</li></ul>

Klaviyo recently announced its fourth quarter and full-year 2025 financial results, revealing both strengths and challenges that investors should consider.The company demonstrated a strong financial performance with a 32% year-over-year revenue increase to $1.2 billion and an improvement in its non-GAAP operating margin to 14%.These figures underscore Klaviyo’s successful expansion in its enterprise customer base and international markets, with its customer count surpassing 193,000, spanning over 100 countries.

Why Klaviyo’s RCS and WhatsApp Integration Could Redefine How Brands Convert Customers!

United States

Klaviyo, Inc. provides e-marketing solutions. The Company offers marketing automation and email platform which enables users to access, store, analyze, and use transactional and behavioral data to power highly-targeted email and advertising campaigns. Klaviyo serves customers worldwide.

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Klaviyo (KVYO US)

Klaviyo’s 100%+ Marketing Analytics Growth — Can Multiproduct Adoption Supercharge ARR?

Klaviyo reported second quarter 2026 revenue of $370.6 million, marking a 26% year-over-year increase, which surpassed company guidance and...

Baptista Research

Primer: Klaviyo (KVYO US) - Aug 2026

Klaviyo is a high-growth leader in the e-commerce marketing automation niche, demonstrating robust revenue increases and a strong customer...

αSK Primers

Primer: Postscript - 12 Oct 2026

SMS marketing tool for Shopify merchants to drive sales and customer engagement

Sacra

Primer: Attentive - 12 Oct 2026

Messaging software for e-commerce brands to send personalized SMS and email campaigns

Sacra

Why Klaviyo’s RCS and WhatsApp Integration Could Redefine How Brands Convert Customers!

Klaviyo recently announced its fourth quarter and full-year 2025 financial results, revealing both strengths and challenges that investors should...

Baptista Research

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