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Braze Reports Fiscal Second Quarter 2023 Results

·21 min read

Second quarter revenue grew 54.5% year-over-year to $86.1 million

Achieved dollar-based net retention of 126% for the trailing 12 months

NEW YORK, September 12, 2022--(BUSINESS WIRE)--Braze (Nasdaq: BRZE) a leading comprehensive customer engagement platform that powers interactions between consumers and brands they love, today announced results for its fiscal quarter ended July 31, 2022.

"We delivered a strong quarter of 55% revenue growth while continuing to provide best-in-class omni-channel customer engagement for our customers," said Bill Magnuson, cofounder and CEO of Braze. "We continue to execute on our long-term strategy, introducing new, enhanced and differentiated products, and expanding our engineering and go-to-market presence. Despite macroeconomic headwinds and the challenges they present, we remain confident in the durability of our business and the overall promise of our customer engagement platform and a massive addressable market."

Fiscal Second Quarter 2023 Financial Highlights

  • Revenue was $86.1 million compared to $55.8 million in the second quarter of the fiscal year ended January 31, 2022, up 54.5% year-over year, driven primarily by new customers, upsells and renewals.

  • Subscription revenue in the quarter was $81.7 million compared to $51.7 million in the second quarter of the fiscal year ended January 31, 2022, and professional services and other revenue was $4.4 million compared to $4.0 million in the second quarter of the fiscal year ended January 31, 2022.

  • Remaining performance obligations as of July 31, 2022 was $410.5 million, of which $274.2 million is current, which we define as less than one year.

  • GAAP Gross Margin was 68.2% compared to 66.4% in the second quarter of the fiscal year ended January 31, 2022.

  • Non-GAAP Gross Margin was 69.3% compared to 66.7% in the second quarter of the fiscal year ended January 31, 2022.

  • Dollar-based net retention for all customers for the trailing 12 months ended July 31, 2022 and July 31, 2021 was 126% and 125%, respectively; dollar-based net retention for customers with annual recurring revenue (ARR) of $500,000 or more was 130% compared to 135% in the second quarter of the fiscal year ended January 31, 2022.

  • Total customers increased to 1,599 as of July 31, 2022 from 1,119 as of July 31, 2021; 139 of our customers had ARR of $500,000 or more as of July 31, 2022, compared to 82 customers as of July 31, 2021.

  • GAAP operating loss was $35.1 million compared to an operating loss of $12.2 million in the second quarter of the fiscal year ended January 31, 2022. Operating loss in the quarter included $17.1 million of stock compensation expense.

  • Non-GAAP operating loss was $17.5 million compared to a loss of $6.5 million in the second quarter of the fiscal year ended January 31, 2022.

  • GAAP net loss per basic and diluted share attributable to Braze common stockholders was $(0.35) compared to $(0.60) in the second quarter of the fiscal year ended January 31, 2022.

  • Non-GAAP net loss per basic and diluted share attributable to Braze common stockholders was $(0.16) compared to $(0.32) in the second quarter of the fiscal year ended January 31, 2022.

  • Net cash used in operating activities was $16.3 million compared to net cash used in operating activities of $4.6 million in the second quarter of the fiscal year ended January 31, 2022.

  • Free cash flow was $(24.7) million compared to $(5.7) million in the second quarter of the fiscal year end January 31, 2022.

  • Total cash and cash equivalents, restricted cash, and marketable securities was $510.7 million as of July 31, 2022 compared to $518.1 million as of January 31, 2022.

Recent Business Highlights

  • Notable new business wins and upsells in the quarter included Roku, TelevisaUnivision, IBM, and Pizza Hut Australia.

  • Launched Canvas Flow, our next generation, best-in-class customer journey builder, strengthening our core product offering.

  • Continued to add talent to the team, increasing headcount nearly 100 employees in Q2 bringing the total Braze team to over 1,350.

Investor Event at Forge 2022

  • At 12:30 pm EDT on the afternoon of October 13, 2022, Braze will host an investor event in tandem with its Forge 2022 Customer Conference at Pier 59, Chelsea Piers in New York City.

  • The event will be video cast live and archived on the company’s Investor site at investors.braze.com.

Financial Outlook

Braze is initiating guidance for the fiscal third quarter ending October 31, 2022 and updating guidance for the fiscal year ending January 31, 2023.

Metric

(in millions, except per share

amounts)

FY 2023 Q3 Guidance

FY 2023 Guidance

Revenue

$90.0 - 91.0

347.0 - 350.0

Non-GAAP operating loss

$(23.0) - (24.0)

$(76.0) - (78.0)

Non-GAAP net loss

$(21.0) - (22.0)

$(74.0) - (76.0)

Non-GAAP net loss per share

$(0.22) - (0.23)

$(0.77) - (0.79)

Weighted average shares outstanding

~97.4

~96.4

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 Second Quarter Fiscal Year 2023 Financial Results Conference Call
When: Monday, September 12th at 5:00 pm EDT / 2:00 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 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 and non-GAAP net loss as the respective GAAP balances, adjusted for stock-based compensation expense, employer taxes related to stock-based compensation and charitable contribution expense. Prior to the first quarter of the fiscal year ended January 31, 2023, 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 or non-GAAP net loss for employer taxes related to stock-based compensation or charitable contribution expense, because these amounts were immaterial 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 the 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 third quarter of and full fiscal year ended January 31, 2023. 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 that global macroeconomic uncertainty, including from the ongoing COVID-19 pandemic and ongoing conflict between Russia and Ukraine, and general market, political, economic and business conditions could have on Braze’s or its customers’ businesses, financial condition and results of operations; (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 for the fiscal year ended January 31, 2022, filed with the Securities and Exchange Commission (SEC) on March 31, 2022 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 July 31, 2022 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 a leading comprehensive customer engagement platform that powers interactions between consumers and brands they love. With Braze, global brands can ingest and process customer data in real time, orchestrate and optimize contextually relevant, cross-channel marketing campaigns and continuously evolve their customer engagement strategies. Braze has been recognized as one of Fortune's 2021 Best Workplaces in New York, Fortune's 2021 Best Workplace for Millennials, and 2021 UK Best Workplaces for Women by Great Place to Work. The company is headquartered in New York with offices in Austin, Berlin, Chicago, London, San Francisco, Singapore, and Tokyo. 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, 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

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Revenue

$

86,131

$

55,756

$

163,626

$

103,633

Cost of revenue

27,352

18,755

53,258

34,562

Gross profit

58,779

37,001

110,368

69,071

Operating expenses:

Sales and marketing

50,007

27,492

96,051

51,843

Research and development

23,336

11,595

44,956

23,392

General and administrative

20,543

10,064

44,117

19,011

Total operating expenses

93,886

49,151

185,124

94,246

Loss from operations

(35,107

)

(12,150

)

(74,756

)

(25,175

)

Other income (expense), net

1,729

(297

)

1,759

(265

)

Loss before provision for income taxes

(33,378

)

(12,447

)

(72,997

)

(25,440

)

Provision for income taxes

35

166

49

326

Net loss

(33,413

)

(12,613

)

(73,046

)

(25,766

)

Net loss attributable to redeemable non-controlling interest

(527

)

(385

)

(891

)

(704

)

Net loss attributable to Braze, Inc.

$

(32,886

)

$

(12,228

)

$

(72,155

)

$

(25,062

)

Net loss per share attributable to Braze, Inc. common stockholders, basic and diluted

$

(0.35

)

$

(0.60

)

$

(0.77

)

$

(1.25

)

Weighted-average shares used to compute net loss per share attributable to Braze, Inc. common stockholders, basic and diluted

94,103

20,329

93,668

20,004

(1) Includes stock-based compensation as follows:

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Cost of revenue

$

911

$

177

$

1,831

$

367

Sales and marketing

5,439

1,957

11,106

4,295

Research and development

6,921

1,571

13,094

4,158

General and administrative

3,842

1,945

8,053

3,786

Total stock-based compensation expense

$

17,113

$

5,650

$

34,084

$

12,606

(2) Includes employer taxes related to stock-based compensation as follows:

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Cost of revenue

$

24

$

$

40

$

Sales and marketing

220

387

Research and development

124

251

General and administrative

164

229

Total employer taxes related to stock-based compensation

$

532

$

$

907

$

(3) Includes charitable donation expense as follows:

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

General and administrative

$

$

$

4,260

$

BRAZE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except share and per share amounts)

July 31,

2022

January 31,

2022

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

80,881

$

478,937

Accounts receivable, net of allowance of $829 and $743 at July 31, 2022 and January 31, 2022, respectively

47,973

64,504

Marketable securities

425,754

35,156

Prepaid expenses and other current assets

26,296

29,588

Total current assets

580,904

608,185

Restricted cash, noncurrent

4,036

4,036

Property and equipment, net

16,276

7,393

Operating lease right-of-use assets

51,276

Deferred contract costs

45,272

41,689

Other assets

4,329

4,959

TOTAL ASSETS

$

702,093

$

666,262

LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable

$

2,889

$

2,083

Accrued expenses and other current liabilities

34,981

31,623

Deferred revenue

135,794

126,260

Operating lease liabilities, current

10,642

Total current liabilities

184,306

159,966

Operating lease liabilities, noncurrent

44,391

Other long-term liabilities

501

1,478

TOTAL LIABILITIES

229,198

161,444

COMMITMENTS AND CONTINGENCIES (Note 13)

Redeemable non-controlling interest (Note 4)

2,344

3,235

STOCKHOLDERS’ EQUITY

Class A common stock, $0.0001 par value; 2,000,000,000 shares authorized as of July 31, 2022 and January 31, 2022; 52,069,633 and 18,549,183 shares issued and outstanding as of July 31, 2022 and January 31, 2022, respectively

5

1

Class B common stock, $0.0001 par value; 110,000,000 shares authorized as of July 31, 2022 and January 31, 2022; 42,647,593 and 74,418,847 shares issued and outstanding as of July 31, 2022 and January 31, 2022, respectively

4

8

Additional paid-in capital

761,412

717,175

Accumulated other comprehensive loss

(3,754

)

(640

)

Accumulated deficit

(287,116

)

(214,961

)

TOTAL STOCKHOLDERS’ EQUITY

470,551

501,583

TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY

$

702,093

$

666,262

BRAZE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)

Six Months Ended

July 31,

2022

2021

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss (including amounts attributable to redeemable non-controlling interests)

$

(73,046

)

$

(25,766

)

Adjustments to reconcile net loss to net cash used in operating activities:

Stock-based compensation

34,253

12,606

Amortization of deferred contract costs

10,984

7,990

Depreciation and amortization

1,900

1,373

Provision for credit losses

(155

)

(174

)

Value of common stock donated to charity

4,260

Amortization of discount/premium on marketable securities

215

254

Non-cash foreign exchange loss

295

320

Other

(36

)

2

Changes in operating assets and liabilities:

Accounts receivable

16,622

(178

)

Prepaid expenses and other current assets

3,110

(2,124

)

Deferred contract costs

(14,661

)

(12,222

)

ROU assets and liabilities

2,617

Other assets

521

(2,095

)

Accounts payable

582

1,071

Accrued expenses and other current liabilities

4,419

(5,812

)

Deferred revenue

9,703

16,428

Other long-term liabilities

17

(87

)

Net cash provided by/(used in) operating activities

1,600

(8,414

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property and equipment

(9,844

)

(755

)

Capitalized internal-use software costs

(783

)

(1,172

)

Purchases of marketable securities

(543,880

)

(28,496

)

Maturities of marketable securities

150,708

49,308

Net cash (used in)/provided by investing activities

(403,799

)

18,885

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from exercise of common stock options

5,411

3,247

Payment of deferred offering costs

(660

)

Repurchase of shares related to early exercised options

(3

)

Net cash provided by financing activities

5,411

2,584

Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash

(1,268

)

(172

)

Net change in cash, cash equivalents, and restricted cash

(398,056

)

12,883

Cash, cash equivalents, and restricted cash, beginning of period

482,973

33,018

Cash, cash equivalents, and restricted cash, end of period

$

84,917

$

45,901

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

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Gross Profit

$

58,779

$

37,001

$

110,368

$

69,071

Plus:

Stock-based compensation expense

911

177

1,831

367

Employer taxes related to stock-based compensation

24

40

Non-GAAP Gross Profit

$

59,714

$

37,178

$

112,239

$

69,438

GAAP Gross Margin

68.2

%

66.4

%

67.5

%

66.6

%

Non-GAAP Gross Margin

69.3

%

66.7

%

68.6

%

67.0

%

Reconciliation of GAAP to Non-GAAP Operating Expenses

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

GAAP sales and marketing expense

$

50,007

$

27,492

$

96,051

$

51,843

Less:

Stock-based compensation expense

5,439

1,957

11,106

4,295

Employer taxes related to stock-based compensation expense

220

387

Non-GAAP sales and marketing expense

$

44,348

$

25,535

$

84,558

$

47,548

GAAP research and development expense

$

23,336

$

11,595

$

44,956

$

23,392

Less:

Stock-based compensation expense

6,921

1,571

13,094

4,158

Employer taxes related to stock-based compensation expense

124

251

Non-GAAP research and development expense

$

16,291

$

10,024

$

31,611

$

19,234

GAAP general and administrative expense

$

20,543

$

10,064

$

44,117

$

19,011

Less:

Stock-based compensation expense

3,842

1,945

8,053

3,786

Employer taxes related to stock-based compensation expense

164

229

Charitable contribution expense

4,260

Non-GAAP general and administrative expense

$

16,537

$

8,119

$

31,575

$

15,225

Reconciliation of GAAP to Non-GAAP Operating Loss

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Loss from operations

$

(35,107

)

$

(12,150

)

$

(74,756

)

$

(25,175

)

Plus:

Stock-based compensation expense

17,113

5,650

34,084

12,606

Employer taxes related to stock-based compensation expense

532

907

Charitable contribution expense

4,260

Non-GAAP Operating loss

$

(17,462

)

$

(6,500

)

$

(35,505

)

$

(12,569

)

Reconciliation of GAAP to Non-GAAP Net Loss

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Net loss attributable to Braze, Inc.

$

(32,886

)

$

(12,228

)

$

(72,155

)

$

(25,062

)

Plus:

Stock-based compensation expense

17,113

5,650

34,084

12,606

Employer taxes related to stock-based compensation expense

532

907

Charitable contribution expense

4,260

Non-GAAP net loss attributable to Braze, Inc. (1)

$

(15,241

)

$

(6,578

)

$

(32,904

)

$

(12,456

)

Non-GAAP net loss per share attributable to Braze, Inc. common stockholders, basic and diluted

$

(0.16

)

$

(0.32

)

$

(0.35

)

$

(0.62

)

Weighted-average shares used to compute net loss per share attributable to Braze, Inc. common stockholders, basic and diluted

94,103

20,329

93,668

20,004

(1) Assumes no tax impact due to the Company’s net loss position and deferred tax assets.

Reconciliation of GAAP Cash Flow from Operating Activities to Non-GAAP Free Cash Flow

Three Months Ended

July 31,

Six Months Ended

July 31,

2022

2021

2022

2021

Net cash provided by/(used in) operating activities

$

(16,321

)

$

(4,607

)

$

1,600

$

(8,414

)

Less:

Purchases of property and equipment

(7,884

)

(457

)

(9,844

)

(755

)

Capitalized internal-use software costs

(477

)

(674

)

(783

)

(1,172

)

Non-GAAP Free cash flow

$

(24,682

)

$

(5,738

)

$

(9,027

)

$

(10,341

)

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/20220912005820/en/

Contacts

Investors:
Christopher Ferris
IR@braze.com
(609) 964-0585

Media:
Meghan Halaszynski
Press@braze.com