Braze (Nasdaq: BRZE) the leading customer engagement platform
that empowers brands to Be Absolutely EngagingTM, today announced
results for its fiscal quarter ended April 30, 2024.
“We are off to a solid start in fiscal 2025, delivering strong
results in an uneven macro, driven by returns from our long-term
investments and consistent execution,” said Bill Magnuson,
cofounder and CEO of Braze. “Our focus remains on product
differentiation, sales and marketing efficiency, and strengthening
our foundations for future growth, including with global expansion
that helps our customers around the world execute outstanding
customer engagement at scale.”
Fiscal First Quarter 2025 Financial
Highlights
- Revenue was $135.5 million compared to $101.8 million in the
first quarter of the fiscal year ended January 31, 2024, up 33.1%
year-over year, driven primarily by new customers, upsells and
renewals. First quarter revenue was impacted by a $0.8 million
revenue reserve related to the company’s April service outage.
- Subscription revenue in the quarter was $130.1 million compared
to $97.1 million in the first quarter of the fiscal year ended
January 31, 2024, and professional services and other revenue was
$5.4 million compared to $4.6 million in the first quarter of the
fiscal year ended January 31, 2024.
- Remaining performance obligations as of April 30, 2024 were
$657.3 million, of which $419.8 million is current, which the
company defines as less than one year.
- GAAP gross margin was 67.1% compared to 67.9% in the first
quarter of the fiscal year ended January 31, 2024.
- Non-GAAP gross margin was 67.9% compared to 68.8% in the first
quarter of the fiscal year ended January 31, 2024.
- Dollar-based net retention for all customers for the trailing
12 months ended April 30, 2024 and April 30, 2023 was 117% and
122%, respectively; dollar-based net retention for customers with
annual recurring revenue (ARR) of $500,000 or more was 119%
compared to 124% in the first quarter of the fiscal year ended
January 31, 2024.
- Total customers increased to 2,102 as of April 30, 2024 from
1,866 as of April 30, 2023; 212 of the company’s customers had ARR
of $500,000 or more as of April 30, 2024, compared to 164 customers
as of April 30, 2023.
- GAAP operating loss was $40.1 million compared to an operating
loss of $41.9 million in the first quarter of the fiscal year ended
January 31, 2024. A primary contributor to the operating loss in
the quarter included $28.3 million of stock-based compensation
expense.
- Non-GAAP operating loss was $10.0 million compared to a loss of
$16.0 million in the first quarter of the fiscal year ended January
31, 2024.
- GAAP net loss per basic and diluted share attributable to Braze
common stockholders was $0.35 compared to $0.40 in the first
quarter of the fiscal year ended January 31, 2024.
- Non-GAAP net loss per basic and diluted share attributable to
Braze common stockholders was $0.05 compared to $0.13 in the first
quarter of the fiscal year ended January 31, 2024.
- Net cash provided by operating activities was $19.4 million
compared to net cash provided by operating activities of $22.5
million in the first quarter of the fiscal year ended January 31,
2024.
- Free cash flow was $11.4 million compared to $21.7 million in
the first quarter of the fiscal year ended January 31, 2024.
- Total cash and cash equivalents, restricted cash, and
marketable securities was $487.7 million as of April 30, 2024
compared to $480.0 million as of January 31, 2024.
Recent Business
Highlights
- Notable new business wins include Bauer Media Group, Bolt
Technology, Country Road Group, Hugo Boss, Leonardo.ai, Property
Finder, and Solaris Bank AG, among others. Notable upsells in the
quarter include Etsy, Lime, MyEyeDr., Talkspace, and the rewards
credit card Yonder.
- Braze announced an expansion of our global footprint and
strategic focus on key regions across Asia-Pacific, Europe, the
Middle East and Africa, and Latin America. Specifically, we are
establishing a direct presence in São Paulo, Brazil; Bucharest,
Romania; Dubai, UAE; and Seoul, South Korea, with plans to grow
local teams and establish offices in each location. In addition, we
announced plans to open a new data center in Indonesia, our second
outside of the US, and first in APAC, with more to come in the
future.
- We added technology expertise to our leadership team with the
appointment of Yvonne Wassenaar, a seasoned SaaS executive, to our
Board of Directors.
- Braze was recognized as one of the UK’s Best (Large) Workplaces
for DevelopmentTM by Great Place To Work UK.
Financial Outlook
Braze is initiating guidance for the fiscal second quarter
ending July 31, 2024, and updating guidance for the fiscal year
ending January 31, 2025.
Metric
(in millions, except per share
amounts)
FY 2025 Q2 Guidance
FY 2025 Guidance(1)
Revenue
$140.5 - 141.5
$577.0 - 581.0
Non-GAAP operating loss
$(6.5) - (7.5)
$(19.5) - (23.5)
Non-GAAP net loss
$(3.0) - (4.0)
$(6.0) - (10.0)
Non-GAAP net loss per share
$(0.03) - (0.04)
$(0.06) - (0.10)
Weighted average shares outstanding
~101.5
~102.0
(1) Includes the negative impact of the
$0.8M revenue reserve allocated for the service outage in April
2024.
Braze has not reconciled its guidance as to non-GAAP operating
loss, non-GAAP net loss or non-GAAP net loss per share to their
most directly comparable GAAP measure as a result of uncertainty
regarding, and the potential variability of, reconciling items such
as stock-based compensation expense specific to equity compensation
awards that are directly impacted by unpredictable fluctuations in
Braze’s stock price. Accordingly, reconciliation is not available
without unreasonable effort, although it is important to note that
these factors could be material to Braze’s results calculated in
accordance with GAAP.
Conference Call
Information:
What: Braze First Quarter Fiscal Year 2025 Financial
Results Conference Call When: Thursday, June 6th at 4:30 pm
EDT / 1:30 pm PDT Webcast & Supplemental Data:
investors.braze.com Replay: A webcast replay will be
available on Braze’s investor site at investors.braze.com.
Supplemental and Other Financial
Information
Supplemental information, including an accompanying financial
presentation and other information can be accessed through Braze’s
investor website at investors.braze.com.
Non-GAAP Financial
Measures
This press release and the accompanying tables contain the
following non-GAAP financial measures: non-GAAP gross profit and
margin, non-GAAP sales and marketing expense, non-GAAP research and
development expense, non-GAAP general and administrative expense,
non-GAAP operating loss, non-GAAP operating margin, non-GAAP net
loss, non-GAAP net loss per share, basic and diluted, and non-GAAP
free cash flow. Braze defines non-GAAP gross profit and margin,
non-GAAP sales and marketing expense, non-GAAP research and
development expense, non-GAAP general and administrative expense,
non-GAAP operating loss, non-GAAP operating margin, and non-GAAP
net loss as the respective GAAP balances, adjusted for stock-based
compensation expense, employer taxes related to stock-based
compensation, charitable contribution expense, contingent
consideration adjustments, acquisition related expense,
amortization of intangible assets, and restructuring expense.
Additionally, prior to the second quarter of the fiscal year ended
January 31, 2024, Braze did not adjust non-GAAP gross profit and
margin, non-GAAP sales and marketing expense, non-GAAP research and
development expense, non-GAAP general and administrative expense,
non-GAAP operating loss, non-GAAP operating margin or non-GAAP net
loss for amortization of intangible assets, because there were no
such amortizations in prior periods, or for restructuring expense,
because such amounts were not material in prior periods. Further,
prior to the fourth quarter of the fiscal year ended January 31,
2024, Braze did not adjust non-GAAP gross profit and margin,
non-GAAP sales and marketing expense, non-GAAP research and
development expense, non-GAAP general and administrative expense,
non-GAAP operating loss, non-GAAP operating margin or non-GAAP net
loss for contingent consideration adjustments, because there were
no such adjustments in prior periods. Braze defines non-GAAP free
cash flow as net cash used in operating activities, minus purchases
of property and equipment and minus capitalized internal-use
software costs. Investors are encouraged to review the
reconciliation of these historical non-GAAP financial measures to
their most directly comparable GAAP financial measures.
Braze uses this non-GAAP financial information internally in
analyzing its financial results and believes that this non-GAAP
financial information, when taken collectively with GAAP financial
measures, may be helpful to investors because it provides
consistency and comparability with past financial performance and
assists in comparisons with other companies, some of which use
similar non-GAAP financial information to supplement their GAAP
results. The non-GAAP financial information is presented for
supplemental informational purposes only, and should not be
considered a substitute for financial information presented in
accordance with generally accepted accounting principles in the
United States (GAAP), and may be different from similarly-titled
non-GAAP measures used by other companies.
The principal limitation of these non-GAAP financial measures is
that they exclude significant expenses that are required by GAAP to
be recorded in Braze’s financial statements. In addition, they are
subject to inherent limitations as they reflect the exercise of
judgment by Braze’s management about which expenses are excluded or
included in determining these non-GAAP financial measures. A
reconciliation is provided below in the financial statement tables
included below in this press release for each non-GAAP financial
measure to the most directly comparable financial measure stated in
accordance with GAAP.
Braze encourages investors to review the related GAAP financial
measures and the reconciliation of these non-GAAP financial
measures to their most directly comparable GAAP financial measures,
which it includes in press releases announcing quarterly and fiscal
year financial results, including this press release, and not to
rely on any single financial measure to evaluate Braze’s
business.
Definition of Other Business
Metrics
Customer: Braze defines a customer, as of period end, as the
separate and distinct, ultimate parent-level entity that has an
active subscription with Braze to use its products. A single
organization could have multiple distinct contracting divisions or
subsidiaries, all of which together would be considered a single
customer.
Annual Recurring Revenue (ARR): Braze defines ARR as the
annualized value of customer subscription contracts, including
certain premium professional services that are subject to
contractual subscription terms, as of the measurement date,
assuming any contract that expires during the next 12 months is
renewed on its existing terms (including contracts for which Braze
is negotiating a renewal). Braze’s calculation of ARR is not
adjusted for the impact of any known or projected future events
(such as customer cancellations, expansion or contraction of
existing customers relationships or price increases or decreases)
that may cause any such contract not to be renewed on its existing
terms. ARR may decline or fluctuate as a result of a number of
factors, including customers’ satisfaction or dissatisfaction with
Braze’s products and professional services, pricing, competitive
offerings, economic conditions or overall changes in Braze’s
customers’ spending levels. ARR should be viewed independently of
revenue and does not represent Braze’s GAAP revenue on an
annualized basis or a forecast of revenue, as it is an operating
metric that can be impacted by contract start and end dates and
renewal rates.
Dollar-Based Net Retention Rate: Braze calculates dollar-based
net retention rate as of a period end by starting with the ARR from
a cohort of customers as of 12 months prior to such period-end (the
Prior Period ARR). Braze then calculates the ARR from the same
cohort of customers as of the end of the current period (the
Current Period ARR). Current Period ARR includes any expansion and
is net of contraction or attrition over the last 12 months, but
excludes ARR from new customers in the current period. Braze then
divides the total Current Period ARR by the total Prior Period ARR
to arrive at the point-in-time dollar-based net retention rate.
Braze then calculates the weighted average point-in-time
dollar-based net retention rates as of the last day of each month
in the current trailing 12-month period to arrive at the
dollar-based net retention rate.
Remaining Performance Obligations: The transaction price
allocated to remaining performance obligations represents amounts
under non-cancelable contracts expected to be recognized as revenue
in future periods, and may be influenced by several factors,
including seasonality, the timing of renewals, the timing of
service delivery and contract terms. Unbilled portions of the
remaining performance obligation are subject to future economic
risks including bankruptcies, regulatory changes and other market
factors.
Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding Braze’s financial outlook for the second
quarter of and the full fiscal year ended January 31, 2025. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections. Words such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “goal,” “hope,” “intend,”
“may,” might,” “potential,” “predict,” “project,” “shall,”
“should,” “target,” “will,” and variations of these terms and
similar expressions are intended to identify these forward-looking
statements, although not all forward-looking statements contain
these identifying words.
Forward-looking statements are based on Braze’s current
assumptions, expectations and beliefs and are subject to
substantial risks, uncertainties, assumptions and changes in
circumstances that may cause Braze’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. These risks include, but are not
limited to, risks and uncertainties related to: (1) unstable market
and economic conditions may have serious adverse consequences on
Braze’s business, financial condition and share price; (2) Braze’s
recent rapid revenue growth may not be indicative of its future
revenue growth; (3) Braze’s history of operating losses; (4)
Braze’s limited operating history at its current scale; (5) Braze’s
ability to successfully manage its growth; (6) the accuracy of
estimates of market opportunity and forecasts of market growth and
the impact of global and domestic socioeconomic events on Braze’s
business; (7) Braze’s ability and the ability of its platform to
adapt and respond to changing customer or consumer needs,
requirements or preferences; (8) Braze’s ability to attract new
customers and renew existing customers; (9) the competitive markets
in which Braze participates and the intense competition that it
faces; (10) Braze’s ability to adapt and respond effectively to
rapidly changing technology, evolving cybersecurity and data
privacy risks, evolving industry standards or changing regulations;
and (11) Braze’s reliance on third-party providers of cloud-based
infrastructure; as well as other risks and uncertainties discussed
in the “Risk Factors” section of Braze’s Annual Report on Form 10-K
filed with the Securities and Exchange Commission (SEC) on April 1,
2024 and other subsequent filings Braze makes with the SEC from
time to time, including Braze’s Quarterly Report on Form 10-Q for
the fiscal quarter ended April 30, 2024 that will be filed with the
SEC. The forward-looking statements included in this press release
represent Braze’s views only as of the date of this press release
and Braze assumes no obligation, and does not intend to update
these forward-looking statements, except as required by law.
About Braze
Braze is the leading customer engagement platform that empowers
brands to Be Absolutely Engaging.™ Braze allows any marketer to
collect and take action on any amount of data from any source, so
they can creatively engage with customers in real time, across
channels from one platform. From cross-channel messaging and
journey orchestration to Al-powered experimentation and
optimization, Braze enables companies to build and maintain
absolutely engaging relationships with their customers that foster
growth and loyalty. The company has been recognized as a 2024 U.S.
News Best Technology Companies to Work For, is a 2023 UK Best
Workplace for Women by Great Place to Work, and was named a Leader
by Gartner® in the 2023 Magic Quadrant™ for Multichannel Marketing
Hubs and in The Forrester Wave™: Cross-Channel Marketing Hubs, Q1
2023. Braze is headquartered in New York with 10+ offices across
North America, Europe, and APAC. Learn more at braze.com.
Braze uses its Investor website at investors.braze.com as a
means of disclosing material non-public information, announcing
upcoming investor conferences and for complying with its disclosure
obligations under Regulation FD. Accordingly, you should monitor
its investor relations website in addition to following its press
releases, blog posts on its website (braze.com), SEC filings and
public conference calls and webcasts.
Selected Financial Data
BRAZE, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except per
share amounts)
Three Months Ended
April 30,
2024
2023
Revenue
$
135,459
$
101,780
Cost of revenue (1)(2)
44,548
32,687
Gross Profit
90,911
69,093
Operating expenses:
Sales and marketing (1)(2)
69,827
57,262
Research and development (1)(2)
34,373
29,745
General and administrative
(1)(2)(3)(4)(5)
26,791
23,983
Total operating expenses
130,991
110,990
Loss from operations
(40,080
)
(41,897
)
Other income, net
5,171
3,459
Loss before provision for income taxes
(34,909
)
(38,438
)
Provision for income taxes
798
388
Net loss
(35,707
)
(38,826
)
Net loss attributable to redeemable
non-controlling interest
(66
)
(372
)
Net loss attributable to Braze, Inc.
$
(35,641
)
$
(38,454
)
Net loss per share attributable to Braze,
Inc. common stockholders, basic and diluted
$
(0.35
)
$
(0.40
)
Weighted-average shares used to compute
net loss per share attributable to Braze, Inc. common stockholders,
basic and diluted
100,788
96,353
(1) Includes stock-based compensation as
follows:
Three Months Ended
April 30,
2024
2023
Cost of revenue
$
964
$
889
Sales and marketing
9,445
7,848
Research and development
10,832
9,843
General and administrative
7,037
5,566
Total stock-based compensation expense
$
28,278
$
24,146
(2) Includes employer taxes related to
stock-based compensation as follows:
Three Months Ended
April 30,
2024
2023
Cost of revenue
$
68
$
22
Sales and marketing
541
117
Research and development
836
256
General and administrative
297
90
Total employer taxes related to
stock-based compensation expense
$
1,742
$
485
(3) Includes acquisition related expense
as follows:
Three Months Ended
April 30,
2024
2023
General and administrative
$
—
$
1,268
(4) Includes amortization of intangible
assets acquired in the acquisition expense as follows:
Three Months Ended
April 30,
2024
2023
General and administrative
$
218
$
—
(5) Includes adjustment to the fair value
of the contingent consideration liability as follows:
Three Months Ended
April 30,
2024
2023
General and administrative
$
(137
)
$
—
BRAZE, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS (UNAUDITED)
(in thousands, except share
and per share amounts)
April 30,
2024
January 31,
2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$
74,801
$
68,228
Restricted cash, current
3,373
3,373
Accounts receivable, net of allowance of
$2,396 and $2,772 at April 30, 2024 and January 31, 2024,
respectively
81,632
92,256
Marketable securities
408,957
407,898
Prepaid expenses and other current
assets
30,180
29,366
Total current assets
598,943
601,121
Restricted cash, noncurrent
530
530
Property and equipment, net
39,328
29,358
Operating lease right-of-use assets
76,597
81,163
Deferred contract costs
66,012
63,661
Goodwill
28,448
28,448
Intangible assets, net
3,472
3,690
Other assets
2,796
2,970
TOTAL ASSETS
$
816,126
$
810,941
LIABILITIES, REDEEMABLE NON-CONTROLLING
INTEREST, AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable
$
4,689
$
6,321
Accrued expenses and other current
liabilities
56,267
63,264
Deferred revenue
229,330
204,269
Operating lease liabilities, current
15,360
15,585
Total current liabilities
305,646
289,439
Operating lease liabilities,
noncurrent
72,173
75,027
Other long-term liabilities
2,074
2,050
TOTAL LIABILITIES
379,893
366,516
COMMITMENTS AND CONTINGENCIES (Note
13)
Redeemable non-controlling interest (Note
4)
126
192
STOCKHOLDERS’ EQUITY
Class A common stock, $0.0001 par value;
2,000,000,000 and 2,000,000,000 shares authorized as of April 30,
2024 and January 31, 2024, respectively; 76,844,270 and 73,037,015
shares issued and outstanding as of April 30, 2024 and January 31,
2024, respectively
8
7
Class B common stock, $0.0001 par value;
110,000,000 and 110,000,000 shares authorized as of April 30, 2024
and January 31, 2024, respectively; 24,175,408 and 27,173,408
shares issued and outstanding as of April 30, 2024 and January 31,
2024, respectively
2
3
Additional paid-in capital
958,224
928,494
Accumulated other comprehensive loss
(3,393
)
(1,178
)
Accumulated deficit
(518,734
)
(483,093
)
TOTAL STOCKHOLDERS’ EQUITY
436,107
444,233
TOTAL LIABILITIES, REDEEMABLE
NON-CONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY
$
816,126
$
810,941
BRAZE, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
Three Months Ended
April 30,
2024
2023
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net loss (including amounts attributable
to redeemable non-controlling interests)
$
(35,707
)
$
(38,826
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Stock-based compensation
28,620
24,179
Amortization of deferred contract
costs
8,313
6,660
Depreciation and amortization
2,126
1,526
Provision for credit losses
668
594
(Accretion) amortization of (discount)
premium on marketable securities
(487
)
471
Non-cash foreign exchange (gain) loss
(295
)
310
Fair value adjustments to contingent
consideration
(137
)
—
Other
280
20
Changes in operating assets and
liabilities:
Accounts receivable
9,876
11,046
Prepaid expenses and other current
assets
(984
)
745
Deferred contract costs
(10,730
)
(9,479
)
ROU assets and liabilities
1,522
705
Other assets
277
(380
)
Accounts payable
(1,800
)
405
Accrued expenses and other current
liabilities
(7,351
)
9,364
Deferred revenue
25,285
15,228
Other long-term liabilities
(81
)
(19
)
Net cash provided by operating
activities
19,395
22,549
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchases of property and equipment
(6,915
)
(40
)
Capitalized internal-use software
costs
(1,039
)
(852
)
Purchases of marketable securities
(59,650
)
(46,297
)
Maturities of marketable securities
57,000
71,486
Net cash (used in)/provided by investing
activities
(10,604
)
24,297
CASH FLOWS FROM FINANCING
ACTIVITIES:
Proceeds from exercise of common stock
options
1,035
2,211
Payments of deferred purchase
consideration
(2,916
)
—
Net cash (used in)/provided by financing
activities
(1,881
)
2,211
Effect of foreign currency exchange rate
changes on cash, cash equivalents, and restricted cash
(337
)
(180
)
Net change in cash, cash equivalents, and
restricted cash
6,573
48,877
Cash, cash equivalents, and restricted
cash, beginning of period
72,131
72,623
Cash, cash equivalents, and restricted
cash, end of period
$
78,704
$
121,500
BRAZE, INC.
U.S. GAAP RECONCILIATION OF
NON-GAAP ADJUSTED RESULTS
(in thousands, except per
share amounts)
The following tables reconcile each
non-GAAP financial measure to its most directly comparable GAAP
financial measure:
Reconciliation of GAAP to Non-GAAP
Gross Margin
Three Months Ended
April 30,
2024
2023
Gross profit
$
90,911
$
69,093
Plus:
Stock-based compensation expense
964
889
Employer taxes related to stock-based
compensation expense
68
22
Non-GAAP gross profit
$
91,943
$
70,004
GAAP gross margin
67.1
%
67.9
%
Non-GAAP gross margin
67.9
%
68.8
%
Reconciliation of GAAP to Non-GAAP
Operating Expenses
Three Months Ended
April 30,
2024
2023
GAAP sales and marketing expense
$
69,827
$
57,262
Less:
Stock-based compensation expense
9,445
7,848
Employer taxes related to stock-based
compensation expense
541
117
Non-GAAP sales and marketing expense
$
59,841
$
49,297
GAAP research and development expense
$
34,373
$
29,745
Less:
Stock-based compensation expense
10,832
9,843
Employer taxes related to stock-based
compensation expense
836
256
Non-GAAP research and development
expense
$
22,705
$
19,646
GAAP general and administrative
expense
$
26,791
$
23,983
Less:
Stock-based compensation expense
7,037
5,566
Employer taxes related to stock-based
compensation expense
297
90
Acquisition related expense
—
1,268
Amortization of intangibles expense
218
—
Contingent consideration adjustment
(137
)
—
Non-GAAP general and administrative
expense
$
19,376
$
17,059
Reconciliation of GAAP to Non-GAAP
Operating Loss
Three Months Ended
April 30,
2024
2023
Loss from operations
$
(40,080
)
$
(41,897
)
Plus:
Stock-based compensation expense
28,278
24,146
Employer taxes related to stock-based
compensation expense
1,742
485
Acquisition related expense
—
1,268
Amortization of intangibles expense
218
—
Contingent consideration adjustment
(137
)
—
Non-GAAP loss from operations
$
(9,979
)
$
(15,998
)
GAAP operating margin
(29.6
)%
(41.2
)%
Non-GAAP operating margin
(7.4
)%
(15.7
)%
Reconciliation of GAAP to Non-GAAP Net
Loss
Three Months Ended
April 30,
2024
2023
Net loss attributable to Braze, Inc.
$
(35,641
)
$
(38,454
)
Plus:
Stock-based compensation expense
28,278
24,146
Employer taxes related to stock-based
compensation expense
1,742
485
Acquisition related expense
—
1,268
Amortization of intangibles expense
218
—
Contingent consideration adjustment
(137
)
—
Non-GAAP net loss attributable to Braze,
Inc. (1)
$
(5,540
)
$
(12,555
)
Non-GAAP net loss per share attributable
to Braze, Inc. common stockholders, basic and diluted
$
(0.05
)
$
(0.13
)
Weighted-average shares used to compute
net loss per share attributable to Braze, Inc. common stockholders,
basic and diluted
100,788
96,353
(1) Assumes no non-GAAP tax expenses
associated with the non-GAAP adjustment due to the Company’s
historical non-GAAP net loss position and available deferred tax
assets sufficient to offset such non-GAAP tax expense.
Reconciliation of GAAP Cash Flow from
Operating Activities to Non-GAAP Free Cash Flow
Three Months Ended
April 30,
2024
2023
Net cash provided by operating
activities
$
19,395
$
22,549
Less:
Purchases of property and equipment
(6,915
)
(40
)
Capitalized internal-use software
costs
(1,039
)
(852
)
Non-GAAP free cash flow
$
11,441
$
21,657
Braze is a registered trademark of Braze, Inc. All product and
company names herein may be trademarks of their registered
owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240606558333/en/
Investors: Christopher Ferris IR@braze.com (609) 964-0585
Media: Katelyn Bryant Press@braze.com
Braze (NASDAQ:BRZE)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Braze (NASDAQ:BRZE)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024