Logo

BRZE

Braze, Inc.

BRZE

Braze, Inc. • NASDAQ
$28.70 ▲ 1.34% (+0.38)
Market Cap $3.00 B
52w High $48.33
52w Low $23.91
Dividend Yield 0%
P/E -27.6
Volume 548.91K
Outstanding Shares 104.51M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $180.111M ▲ $160.643M ▲ $-27.899M ▲ -15.49% ▲ $-0.26 ▲ $-30.198M ▲
Q1-2026 $162.059M ▲ $151.424M ▲ $-35.786M ▼ -22.082% ▼ $-0.34 ▼ $-37.616M ▼
Q4-2025 $160.4M ▲ $132.646M ▼ $-17.192M ▲ -10.718% ▲ $-0.17 ▲ $-18.812M ▲
Q3-2025 $152.052M ▲ $138.712M ▲ $-27.911M ▼ -18.356% ▼ $-0.27 ▼ $-29.934M ▼
Q2-2025 $145.499M $130.029M $-22.999M -15.807% $-0.23 $-25.344M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $363.605M ▼ $1.023B ▲ $423.487M ▲ $598.881M ▲
Q1-2026 $539.294M ▲ $889.134M ▲ $414.675M ▲ $474.426M ▼
Q4-2025 $513.519M ▲ $870.998M ▲ $396.249M ▲ $474.861M ▲
Q3-2025 $492.57M ▼ $842.012M ▲ $384.199M ▲ $458.053M ▲
Q2-2025 $504.019M $825.575M $371.906M $453.693M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-27.763M ▲ $6.952M ▼ $-160.55M ▼ $7.478M ▲ $-146.329M ▼ $5.398M ▼
Q1-2026 $-35.641M ▼ $24.144M ▲ $122.837M ▲ $605K ▼ $148.437M ▲ $22.872M ▲
Q4-2025 $-17.192M ▲ $17.083M ▲ $-841K ▲ $6.177M ▲ $21.75M ▲ $15.205M ▲
Q3-2025 $-27.911M ▼ $-11.41M ▼ $-8.198M ▲ $1.477M ▼ $-17.807M ▼ $-14.248M ▼
Q2-2025 $-22.999M $11.612M $-16.827M $5.922M $945K $7.234M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Professional Services Revenue
Professional Services Revenue
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Subscription Revenue
Subscription Revenue
 $150.00M ▲$150.00M ▲$150.00M ▲$170.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Braze shows a classic high-growth software profile: revenue has been climbing steadily each year and gross profit has expanded in step, suggesting a strong business model and healthy pricing. At the same time, the company is still posting operating and net losses, though those losses have been gradually narrowing after peaking a couple of years ago. This pattern points to heavy ongoing spending on growth, sales, and product development, but with improving efficiency as the business scales. Earnings per share remain negative, yet the direction of travel is toward smaller losses over time rather than deeper ones.

Balance Sheet

Balance Sheet The balance sheet reflects a growing software company that has scaled its asset base and now has a solid equity cushion, in contrast to the negative equity position around the IPO. Cash balances spiked shortly after going public and have since normalized, but the company still appears to have a reasonable liquidity buffer. Debt has been introduced but remains modest relative to total assets, indicating limited balance-sheet risk so far. Overall, the financial foundation looks healthier and more established than in the early years, though not yet in a mature, cash-rich phase.

Cash Flow

Cash Flow Braze has moved from burning cash in its early years toward generating cash from operations, with operating cash flow turning positive and free cash flow recently crossing into positive territory as well. This shift suggests better cost discipline, more efficient customer acquisition, and a more recurring, stable revenue base. Capital spending needs are relatively light, typical of a cloud software business, so improvements in cash generation can flow through quickly. The key watchpoint is whether positive free cash flow proves durable across different market conditions and investment cycles.

Competitive Edge

Competitive Edge Braze operates in a crowded marketing and customer engagement space but has carved out a defined niche as a real-time, cross‑channel engagement platform. Its main advantages come from high switching costs—once embedded in a customer’s data stack and workflows, it is painful and risky to rip out—and from a growing ecosystem of integrations and partners. Industry recognition as a leader in cross‑channel marketing hubs and successful displacement of older, slower‑moving incumbents like some Adobe and Salesforce tools reinforce its standing. Still, the moat is best described as narrow: strong enough to protect against many smaller rivals, but with ongoing competitive pressure from large platforms and well-funded startups.

Innovation and R&D

Innovation and R&D Braze leans heavily on innovation, with much of its spending and strategic focus going into AI, real‑time data, and cross‑channel orchestration. Key initiatives include its Sage AI suite and projects like Catalyst and the AI Decisioning Studio, all aimed at automating and personalizing campaigns at scale. Its Cloud Data Ingestion and “zero‑copy” data access are designed to fit neatly into modern data warehouse environments, which can deepen customer lock‑in. Tools like Canvas, Query Builder, and the next generation of reporting keep the interface accessible for marketers rather than engineers. This emphasis on product depth and usability helps explain the continuing losses: the company is clearly prioritizing R&D and roadmap breadth over near‑term profitability.

Summary

Braze looks like a fast‑growing software platform that is still in its build‑out phase: revenues and gross profit are rising strongly, losses are narrowing, and cash flow has recently turned positive, but consistent profitability is not yet in hand. The balance sheet has transitioned from early‑stage fragility to a more solid footing with growing equity and manageable debt. Competitively, the company benefits from integration depth, high switching costs, and recognition as a leader, though it still faces intense rivalry from both large suites and niche specialists. Its strategy is clearly product‑led, with substantial investment in AI, data connectivity, and marketer‑friendly tools. The main questions going forward center on how well it can convert this innovation and growth into durable margins and stable, recurring cash generation over time.

NEWS

November 18, 2025 · 4:05 PM UTC

Braze To Report Fiscal Third Quarter 2026 Results

Read more

November 10, 2025 · 9:00 AM UTC

Rokt Strengthens Its Board and Advisory Group with Appointment of Veteran Financial Leaders

Read more

September 30, 2025 · 9:00 AM UTC

Braze Opens Applications for 2026 Tech for an Equitable Future Cohort, Empowering the Next Generation of Founders

Read more

September 24, 2025 · 12:00 PM UTC

Braze Named a Leader in 2025 Gartner® Magic Quadrant™ for Multichannel Marketing Hubs for Third Consecutive Year

Read more

September 4, 2025 · 4:05 PM UTC

Braze Reports Fiscal Second Quarter 2026 Results

Read more