KVYO
Klaviyo, Inc.
Is KVYO Halal?
Cloud marketing-automation and customer-data software — generally permissible activity, but current liquidity and receivables screens fail.
What You Should Know
Klaviyo's March 31, 2026 Form 10-Q reports assets of $1,523.617 million, no interest-bearing debt, cash of $984.590 million, receivables of $72.302 million and quarterly revenue of $358.005 million. Debt/assets is 0.00%, liquidity/assets is 64.62%, receivables plus cash/assets is 69.37% and disclosed interest income is 2.63% of revenue. Liquidity and receivables screens fail; no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Liquidity/assets is 64.62%, above examined 33.333% limits
- •Receivables-plus-cash/assets is 69.37%, above examined FTSE and MSCI limits
- •Customer, campaign and content end uses are not universally quantified
- •Disclosed interest income is 2.63% of quarterly revenue; no fixed purification percentage asserted
- •Data privacy, consent and profiling require qualitative review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
0 / 1,523.617
984.59 / 1,523.617
1,056.892 / 1,523.617
9.411 / 358.005
- Financial
- Fails
- Overall
- Fails
Debt/assets is 0.00%, liquidity/assets is 64.62% and receivables-plus-cash/assets is 69.37%; liquidity and receivables exceed the examined limits. Interest income is 2.63% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 64.62% and receivables-plus-cash/assets is 69.37%, above the examined MSCI total-assets limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 64.62%, above the examined Malaysia 33% limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based liquidity and receivables screens already fail.
Business-activity disclosure
Klaviyo provides cloud marketing automation, customer-data and analytics tools for e-commerce and consumer brands. General-purpose software is generally permissible, but customer campaigns, content and end uses are not reduced to a universal prohibited-revenue numerator.
Limitation: The filing does not classify customer, campaign or content revenue by a universal Sharia category; the activity conclusion remains qualitative.
Purification
Klaviyo discloses interest income of $9.411 million, but ZakatInvest does not prescribe a scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Klaviyo's March 31, 2026 Form 10-Q.
- No interest-bearing debt is reported; operating lease liabilities are excluded.
- Cash and cash equivalents are $984.590 million; the filing does not separately present a marketable-securities balance, so no securities amount is added.
- Net accounts receivable is $72.302 million and first-quarter revenue is $358.005 million.
- The filing discloses $9.411 million of interest income, used as the non-compliant-income numerator; no fixed purification percentage is prescribed.
- Marketing-automation and customer-data software is generally permissible, but no universal prohibited-revenue numerator is disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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