Braze, Inc. (BRZE)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$834.2M

Revenue growth

27.4%

Net income, last twelve months

-$113.0M

Earnings per share

-$1.03

Gross margin

66.3%

Operating margin

-13.4%

Net margin

-13.6%

Free cash flow

$84.6M

Return on equity

-18.8%

Market value

$5.2B

Cash

$166.8M

Debt

$0

Debt to equity

0.00

Shares outstanding

113.6M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of fiscal 2027 results, filed 8 September 2026.

• Revenue grew on new customers and upsells. Revenue rose to $227.2 million, with the company citing new customers, upsells and renewals as the primary drivers of the increase.
• Professional services revenue rose sharply. Professional services and other revenue reached $19.6 million, up from $8.3 million a year earlier.
• Year-over-year growth slowed from first quarter. Year-over-year revenue growth was 26.2%, down from the 30.2% reported for the first quarter of fiscal 2027.
• Third-quarter guidance initiated. Guidance was initiated for the fiscal third quarter ending October 31, 2026, and full-year guidance was updated.
• Full-year revenue and operating income raised. Full-year revenue and non-GAAP operating income ranges both moved up from the prior quarter's ranges.
• Full-year diluted share count held. The full-year diluted share assumption stayed at about 114.0 million, while the third-quarter assumption is about 114.5 million.
• Larger customers retained at higher rate. Net retention for customers at $500,000 ARR or more edged up and sits above the rate for all customers.
• Total customer count grew. The total customer count increased year over year.
• Retention across all customers held steady. Net retention across all customers was flat against the first quarter and higher than a year earlier.
• Named wins and expansions. Named wins and expansions included Boots Thailand, Chime, David Jones, Foxtel Group, Insurify, Omaze UK, Property Finder and Wilson Sporting Goods.
• BrazeAI Operator expanded across platform. BrazeAI Operator now acts across the full platform, can build Canvas steps from prompts, and offers pre-built agents with pre-filled prompts.
• AWS strategic collaboration signed. A three-year Strategic Collaboration Agreement with AWS adds a dedicated co-sell motion, joint go-to-market commitment, and incentives for AWS sellers to bring Braze into accounts.
• Databricks integration runs both ways. The Databricks CustomerLake integration lets joint customers activate audiences in Braze and send engagement data back to Databricks.
• Surveys reach landing pages and in-app. Braze Surveys' code-free surveys now appear on landing pages and in-app messages, giving marketers more places to collect zero-party feedback.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2026

By region, FY2026

Company events

The newest 8-K filings of 35 held.

Every filing

The newest filings with the SEC of 106 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

289 funds held it at 30 Jun 2026: 127 added and 73 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Microsoft Corp. (MSFT): revenue $346.4B, market value $3.95T
• Palantir Technologies Inc. (PLTR): revenue $6.2B, market value $473.1B
• Oracle Corp. (ORCL): revenue $71.8B, market value $436.3B
• SAP SE (SAP): revenue $41.6B, market value $276.7B
• CrowdStrike Holdings, Inc. (CRWD): revenue $5.4B, market value $273.1B
• Shopify Inc. (SHOP): revenue $13.3B, market value $218.4B
• Salesforce, Inc. (CRM): revenue $43.9B, market value $199.5B
• ServiceNow, Inc. (NOW): revenue $15.4B, market value $155.6B
• Snowflake Inc. (SNOW): revenue $5.4B, market value $119.8B
• Cloudflare, Inc. (NET): revenue $2.5B, market value $113.0B

What the company does

Braze, Inc. sells a customer engagement platform that brands use to collect data about their customers and send them messages across many channels. The company describes itself as a leading customer engagement platform. It was founded in 2011 and is headquartered in New York. As of January 2026 it had 2,609 customers, and its platform enabled interactions with 8.0 billion monthly active users through its customers' apps, websites and other digital interfaces.

What it sells

Customers connect their apps and websites through Braze software development kits and a REST API. They can also link data warehouses through Braze Cloud Data Ingestion and send data back out through Braze Currents.

Canvas is the company's no-code tool for designing multi-step customer journeys. Messaging channels include email, SMS, MMS, RCS, WhatsApp, LINE, push notifications, in-app and in-browser messages, Braze Content Cards and Banners, Landing Pages, Feature Flags and webhooks. Braze Audience Sync passes first-party data to advertising platforms such as Meta, Google, TikTok and The Trade Desk.

BrazeAI covers the artificial intelligence features. They include BrazeAI Decisioning Studio, Agent Console, Operator, the BrazeAI Predictive Suite and an MCP Server. Agent Console supports foundation models from Google Gemini, Anthropic and OpenAI. The company says its stream processing architecture handles customer data as it is created rather than in batches.

How it makes money

Revenue comes from subscription services and from professional services and other. Subscription fees are principally based on an upfront commitment by the customer for messaging volumes, a specific number of monthly active users, platform access and support, and certain add-on products. Customers that exceed their commitment are charged for excess usage or can buy a larger volume tier. Subscriptions are generally invoiced annually in advance, and the revenue is recognised over the contract term.

Professional services cover training and help with configuring the platform. Premium options include email deliverability support and dedicated technical support staff. Transactional messaging is an optional premium service with higher speed and reliability guarantees.

Braze describes a land-and-expand model. Customers grow their use by adding channels, buying more products, bringing in new business units or entering new geographies. Pricing depends in large part on how many consumers a customer reaches and how many messages it sends.

Who it sells to

Customers include global enterprises and technology companies in retail and consumer goods, media and entertainment, gaming, sports, restaurants and on-demand services, healthcare and life sciences, technology, and financial services. The filing counts a customer as the ultimate parent-level entity with an active subscription, so several divisions of one group count once.

Users of the platform include marketing, product, engineering, business intelligence and data science teams. Marketing efforts aim at buyers such as the Chief Digital Officer, Chief Marketing Officer, Chief Product Officer and Chief Technology Officer.

Where it operates

Braze has customers in over 70 countries and an operational presence across North America, Europe and the Asia-Pacific region. Its sales operations are in North America, South America, Europe, the Middle East and Asia-Pacific. It offers hosting in the United States, the European Union, Australia, Japan and Indonesia.

Sales are made mainly through a direct sales force, a joint venture in Japan, and resellers in certain strategic markets. Braze also works with technology partners it calls Braze Alloys, along with agencies, consultancies and global systems integrators.

How it competes

The filing names Adobe, Salesforce, Iterable and Klaviyo as competing software companies. The company says it believes none of its competitors currently offer comparable comprehensive customer engagement solutions. It also says many competitors have greater name recognition, larger budgets and more resources, and that some bundle their products with other purchases.

For intellectual property, Braze owned 29 patents and had four patent applications pending in the United States as of 31 January 2026. It owned 11 registered trademarks in the United States and 93 in other jurisdictions. Messaging volume and computing needs are typically highest in the fourth quarter, because of holiday season activity.

Its people and community

Braze had 1,988 full-time employees as of 31 January 2026. It lists six core values, among them Take Your Seat at the Table, Don't Ignore Smoke and Be a Human.

Under the Pledge 1% movement, the company has reserved up to 964,647 shares of Class A common stock for a donor advised fund. Its Tech for an Equitable Future program gives qualifying underrepresented founders 12 months of free access to Braze technology.

Braze Bonfire is the company's virtual customer community, with thousands of members. Braze also offers certifications such as Braze Certified Marketers and Braze Certified Developers.

*From Braze's annual report on Form 10-K for the year ended 31 January 2026. [The filing](https://www.sec.gov/Archives/edgar/data/1676238/000167623826000013/brze-20260131.htm)*

From the company's 10-K.