Financials

Braze Inc. financials

BRZE Software

Braze Inc. is a technology firm specializing in a cloud-based customer engagement platform that supports multi-channel marketing through email, push notifications, and in-app messaging. Founded in 2011 and led by CEO Bill Magnuson, the company serves over 1,000 global brands with a subscription-based model. Competing with firms like Salesforce and Adobe, Braze is recognized for innovation through tools such as Braze Canvas and advanced analytics. Its focus on AI-driven enhancements and global integrations positions the company for sustained growth.

Snapshot

Braze Inc. reported $738M in revenue in fiscal 2026, up 24.4% year over year, with an operating margin of -19.6%.

Revenue (FY2026): $738M
YoY growth: +24.4%
Operating margin: -19.6%
Direction: Expanding

Financial statements

In thousands, USD
	FY 2026	FY 2025	FY 2024	FY 2023
Total Revenues	738,182	593,410	471,800	355,426
Cost of Sales	242,525	183,191	147,527	115,818
Gross Profit	495,657	410,219	324,273	239,608
Selling, General & Administrative Expenses	473,271	398,409	349,102	290,455
Research & Development Expenses	167,143	133,969	119,863	97,293
Operating Profit	(144,757)	(122,159)	(144,692)	(148,140)
Interest and Investment Income	16,596	21,557	16,220	7,977
Total Non-Operating Income	16,596	21,557	16,220	7,977
Income Before Provision for Income Taxes	(128,161)	(100,602)	(128,472)	(140,163)
Provision for Income Taxes	2,625	3,445	1,957	583
Consolidated Net Income	(130,786)	(104,047)	(130,429)	(140,746)
Net Income Attributable to Minority Interests and Other	501	(304)	(1,263)	(1,780)
Net Income Attributable to Common Shareholders	(131,287)	(103,743)	(129,166)	(138,966)
Basic EPS	-1.22	-1.02	-1.32	-1.47
Diluted EPS	-1.22	-1.02	-1.32	-1.47
Basic Weighted Average Shares Outstanding	107,906	102,189	98,096	94,569
Diluted Weighted Average Shares Outstanding	107,906	102,189	98,096	94,569
Shares Outstanding	112,771	103,951	100,210	95,975

In thousands, USD
	FY 2026	FY 2025	FY 2024	FY 2023
Cash and Cash Equivalents	124,342	83,062	68,228	68,587
Short-Term Investments	287,580	430,457	407,898	410,083
Total Cash and Cash Equivalents	411,922	513,519	476,126	478,670
Accounts Receivable	122,350	95,234	92,256	78,338
Total Trade Receivables	122,350	95,234	92,256	78,338
Other Current Assets	33,654	35,273	32,739	26,163
Total Current Assets	567,926	644,026	601,121	583,171
Net Property, Plant & Equipment	115,528	114,697	110,521	66,600
Net Intangible Assets	61,487	3,130	3,690	500
Goodwill	261,857	28,448	28,448	—
Other Long-Term Assets	106,959	80,697	67,161	55,135
Total Assets	1,113,760	870,998	810,941	705,406
Accounts Payable	1,562	2,150	6,321	3,101
Accrued Expenses	95,023	64,189	63,264	37,415
Current Portion of Leases	19,269	18,162	15,585	10,695
Unearned Revenue	304,560	239,976	204,269	166,092
Total Current Liabilities	420,414	324,477	289,439	217,303
Leases	63,385	69,278	75,027	40,590
Other Long-Term Liabilities	5,802	2,494	2,050	755
Total Long-Term Liabilities	69,187	71,772	77,077	41,345
Total Liabilities	489,601	396,249	366,516	258,648
Common Stock	11	10	10	10
Additional Paid-in Capital	1,340,090	1,062,610	928,494	806,044
Accumulated Other Comprehensive Income	1,788	(926)	(1,178)	(6,824)
Retained Earnings	(718,123)	(586,836)	(483,093)	(353,927)
Total Common Shareholders' Equity	623,767	474,861	444,233	445,303
Minority Interests and Other	389	(112)	192	1,455
Total Shareholders' Equity	624,156	474,749	444,425	446,758
Total Liabilities and Shareholders' Equity	1,113,760	870,998	810,941	705,406

In thousands, USD
	FY 2026	FY 2025	FY 2024	FY 2023
Net Income	(130,786)	(104,047)	(130,429)	(140,746)
Depreciation & Amortization	60,595	45,129	36,751	28,257
Share-Based Compensation Expense	143,738	115,140	97,232	72,243
Other Adjustments	2,801	3,108	2,244	8,510
Changes in Trade Receivables	(22,715)	(5,363)	(14,008)	(14,650)
Changes in Accounts Payable	(601)	(3,912)	3,419	906
Changes in Accrued Expenses	26,191	3,694	20,990	5,075
Changes in Unearned Revenue	57,137	35,887	34,108	39,894
Changes in Other Operating Activities	(64,922)	(52,956)	(43,457)	(21,797)
Cash from Operating Activities	71,438	36,680	6,850	(22,308)
Capital Expenditure	(9,588)	(13,234)	(9,761)	(15,447)
Purchases of Intangible Assets	(3,776)	(3,814)	(3,574)	(1,258)
Purchases of Investments	(151,641)	(217,975)	(248,059)	(638,221)
Proceeds from Sale of Investments	295,952	198,553	257,737	256,407
Payments for Business Acquisitions	(181,854)	—	(16,319)	—
Cash from Investing Activities	(50,907)	(36,470)	(19,976)	(398,519)
Issuance of Common Shares	22,960	14,611	13,274	11,332
Net Issuance / (Repurchases) of Common Shares	22,960	14,611	13,274	11,332
Other Financing Activities	—	(2,916)	(165)	—
Cash from Financing Activities	22,960	11,695	13,109	11,332
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1,255	(444)	(475)	(855)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	44,746	11,461	(492)	(410,350)

Key metrics

$2.35B

Market Cap

-17.07x

P/E

3.18x

P/S

-23.99x

EV/EBITDA

-23.8%

Return on Equity

-21.8%

Return on Invested Capital

1.35x

Current Ratio

8.4%

Free Cash Flow Margin

Quarterly trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q1 2027	$211M	+30.2%	-13.0%	$-28M
Q4 2026	$205M	+27.9%	-13.8%	$-28M
Q3 2026	$191M	+25.5%	-19.7%	$-38M
Q2 2026	$180M	+23.8%	-21.5%	$-39M
Q1 2026	$162M	—	-24.8%	$-40M
Q4 2025	$160M	—	-13.4%	$-22M
Q3 2025	$152M	—	-21.4%	$-33M
Q2 2025	$145M	—	-19.2%	$-28M

Margins

67.1%

Gross margin

-19.6%

Operating margin

-17.7%

Net margin

SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated2026-06-20

Snapshot

Financial statements

Key metrics

Quarterly trend

Margins

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