Braze, Inc. Reports Strong Q2 Results

NEW YORK – Braze, Inc. (NASDAQ:BRZE) reported better-than-expected second quarter results, though its shares fell by 4.8% in after-hours trading.

The customer engagement platform exceeded analyst expectations with adjusted earnings per share of $0.09, compared to a consensus loss of $0.03. Revenue surged by 26.4% year-over-year to $145.5 million, surpassing the expectations of $141.3 million.

The company forecasted Q3 adjusted earnings between breakeven and a loss of $0.01 per share, better than analyst estimates of a $0.02 loss. Revenue guidance of $147.5-148.5 million was aligned with the $148 million consensus.

Bill Magnuson, co-founder and CEO of Braze, stated, “We delivered a great second quarter, demonstrating strong top-line growth while driving efficiency in our business, achieving our first quarter of non-GAAP operating income and net income profitability.”

Braze reported non-GAAP operating income of $4.2 million for Q2, recovering from a loss of $7.6 million in the same quarter last year. The company’s dollar-based net retention for the trailing 12 months was 114%, down from 120% a year ago.

At the end of the quarter, Braze had a total of 2,163 customers, compared to 1,958 in the previous year. The company’s cash and marketable securities totaled $504.5 million as of July 31.

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