Braze, Inc.

Braze, Inc. (BRZE) Market Cap

Braze, Inc. has a market capitalization of $2.58B.

Price: $22.91

-0.23 (-0.99%)

Market Cap: 2.58B

NASDAQ · time unavailable

CEO: William Magnuson

Sector: Technology

Industry: Software - Application

IPO Date: 2021-11-17

Website: https://www.braze.com

Braze, Inc. (BRZE) - Company Information

Market Cap: 2.58B|Sector: Technology

Company Profile

Braze, Inc. operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners. The company also offers classification products, including segmentation that can define reusable segments of consumers based upon attributes, events, or predictive propensity scores; segment insights, which allows customers to analyze how segments are performing relative to each other across a set of pre-selected key performance indicators, and helps to understand the factors that determine which consumers belong to a particular segment; and predictive suite that allows customers to identify groups of consumers that are of critical business value. In addition, it provides personalization and action products; and orchestration products, which include Canvas, an orchestration tool that allows customers to create journeys, mapping out multi-steps, and cross-channel messaging experiences, which include onboarding flows, nurture campaigns, win-back strategies, and others; campaigns, which allow customers to send one set of single-channel or multi-channel messages to be delivered to customers in a particular user segment; event and API triggering; frequency capping and rate limiting; intelligent selection; and reporting and analytics. The company was formerly known as Appboy, Inc. and changed its name to Braze, Inc. in November 2017. Braze, Inc. was incorporated in 2011 and is headquartered in New York, New York.

Analyst Sentiment

92%
Strong Buy

From 21 Active Polls

1Y Forecast: $38.00

▲ +65.9% Potential Upside

Consensus Target Metrics

Low Bound

$30

Median

$38

High Bound

$45

Average

$38

Price & Moving Averages

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🎯 Wall Street Analyst Intelligence Report

1-Year structural target targets, chart projections, and sentiment maps.

Average 1Y Target
$38.00
▲ +65.87% Upside
Low Target
$30.00
31% Risk
Median Target
$37.50
64% Mid
High Target
$45.00
96% Max
Consensus
Buy
24 / 25 Buys

Consensus Trend Projection

Trailing closures vs. 12-month metrics map.

Analyst Vote Distribution

Aggregate institutional coverage sentiment weights.

📊 Historical Valuation Multiples

Real-time Trailing Twelve Month (TTM) momentum side-by-side with discrete quarterly metrics.

Fiscal QuarterTTMQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024
Period EndingTrailing 12MApr 30, 2026Jan 31, 2026Oct 31, 2025Jul 31, 2025Apr 30, 2025Jan 31, 2025Oct 31, 2024Jul 31, 2024
Market Cap ($M)2,5802,4412,2603,0682,9773,2554,7323,2144,470
Enterprise Value ($M)2,5172,3772,2183,1182,9803,1114,7373,2444,479
Price to Earnings Ratio (P/E)-20.79-22.95-17.88-21.30-26.67-22.74-68.81-28.78-48.59
Price/Earnings-to-Growth Ratio (PEG)-8.08-2.38-3.58-2.39-21.99-12.53-6.39-6.56
Price to Sales Ratio (P/S)3.2811.5711.0116.0716.5320.0929.5021.1330.72
Price to Book Ratio (P/B)4.364.203.625.104.976.869.977.029.85
Price to Free Cash Flow Ratio (P/FCF)39.1387.12167.39161.24551.45142.33311.22-225.54617.89
Enterprise Value to Sales (EV/Sales)11.2710.8116.3416.5519.2029.5321.3430.78
Enterprise Value to EBITDA (EV/EBITDA)-23.91-111.97-99.61-98.79-98.69-82.71-251.78-108.38-176.71
Debt to Equity Ratio0.610.140.130.250.140.180.180.200.19
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Valuation Model Suspended

API Payload Error: Inverted or negative baseline Free Cash Flow margin detected (-9.7%).

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📘 Full Research Report

ℹ️

AI-Generated Research: This report is for informational purposes only.

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📘 BRAZE INC CLASS A (BRZE) — Investment Overview

🧩 Business Model Overview

Braze provides a customer engagement software platform that enables brands to deliver personalized messaging across channels (e.g., email, mobile push, in-app messaging, and other digital touchpoints) using customer behavioral data. The value chain is straightforward: customers connect data sources to Braze, define audiences and orchestration logic, and then execute campaigns through Braze’s real-time engagement workflows. Ongoing usage and optimization are supported via a combination of platform tooling and integrations that fit into existing marketing and product data stacks.

As customers operationalize personalization and automation, Braze becomes embedded in day-to-day marketing execution and in the orchestration of customer journeys—raising the difficulty of replacing it once established.

💰 Revenue Streams & Monetisation Model

Revenue is primarily subscription-based SaaS, supplemented by usage components tied to customer engagement activity (commonly message or event-driven consumption patterns). Monetisation is typically characterized by:

  • Recurring platform revenue driven by contracted subscriptions (often aligned to customer scale and feature scope).
  • Usage/volume monetisation that scales with campaign execution and the intensity of customer interactions.
  • Professional services and onboarding that support implementation, integrations, and configuration—usually smaller relative to recurring software revenue.

Margin structure reflects the economics of software: gross margin is supported by relatively low incremental delivery cost, while operating leverage depends on sales efficiency, retention, and the ability to grow without proportionate increases in support and sales headcount.

🧠 Competitive Advantages & Market Positioning

Braze’s moat is anchored in high switching costs (data gravity) and workflow operationalization. Once teams integrate Braze into their customer data pipelines and operationalize automated messaging journeys, the platform accumulates proprietary configuration, audience logic, orchestration rules, analytics definitions, and integration touchpoints. Replacing those systems is not limited to re-licensing software; it requires rebuilding a working personalization program and re-validating performance.

Braze also benefits from ecosystem breadth—a practical advantage in enterprise deployments—because competitors can win individual workloads, but Braze aims to consolidate cross-channel orchestration under one operational model.

  • Salesforce Marketing Cloud (broader suite; strong enterprise reach) targets marketers with an end-to-end platform approach.
  • Adobe Experience Cloud (larger experience stack; often positioned as a comprehensive customer experience solution) competes where organizations already standardize on Adobe.
  • Customer.io / Iterable (direct engagement/automation competitors) compete on simpler execution and time-to-value, particularly in mid-market segments.

Compared with these rivals, Braze’s emphasis is on behavior-driven orchestration and modern engagement execution, with a platform approach intended to scale across complex customer journeys rather than treating engagement as isolated campaign tools.

🚀 Multi-Year Growth Drivers

Over a 5–10 year horizon, Braze is positioned to benefit from durable demand for customer engagement orchestration driven by:

  • Shift from generic marketing to personalization at scale: Brands increasingly require real-time behavioral targeting and automated journey management rather than static segmentation.
  • First-party data and privacy-driven operating models: Changes to third-party data availability raise the importance of customer data platforms and consent-respecting engagement systems that rely on owned data.
  • Omnichannel execution complexity: Growth in channels and touchpoints increases the need for centralized orchestration and consistent measurement across touchpoints.
  • Marketing operations modernization: Marketing teams use workflow automation to reduce manual campaign effort and improve responsiveness to customer actions.
  • Expansion of use cases: Beyond basic messaging, brands use engagement platforms for lifecycle programs, experimentation, and event-triggered journeys—expanding the addressable footprint within existing customers.

These dynamics support a TAM expansion story in “customer engagement orchestration” and strengthen the economics of installed bases via higher engagement utilization and continued workflow adoption.

⚠ Risk Factors to Monitor

  • Competition and platform consolidation risk: Large-suite vendors (e.g., Salesforce, Adobe) can bundle capabilities, while point-solution competitors can pressure engagement costs or create displacement in specific workflows.
  • Implementation and integration complexity: Customer success depends on reliable integration with data pipelines and activation tools; friction can increase time-to-value and elevate churn risk.
  • Data privacy, security, and compliance: Regulatory and policy changes can alter consent, data retention, and targeting practices—requiring continuous product adaptation.
  • Platform substitution within marketing stacks: If alternative tools deliver comparable functionality with lower switching friction, net retention and expansion rates can face pressure.
  • Concentration of marketing spend: SaaS engagement budgets can be cyclical when enterprise customers adjust discretionary marketing programs.

📊 Valuation & Market View

Software and SaaS investors typically anchor on growth and retention rather than near-term accounting earnings. For this category, valuation frameworks often emphasize:

  • EV/Sales or EV/ARR for subscription-based revenue streams.
  • Net retention and expansion, since installed-base monetisation is a key driver of long-duration compounding.
  • Gross margin durability and operating leverage, reflecting scalable software economics.
  • Sales efficiency and customer acquisition economics, which influence whether growth can compound without a sustained rise in cost structure.

Across customer engagement platforms, the valuation “needle movers” tend to be retention durability, the ability to expand usage within active accounts, and evidence that platform differentiation persists despite competitive feature parity.

🔍 Investment Takeaway

Braze is a customer engagement orchestration platform with a structural moat driven by high switching costs (data gravity) and deep operational embedding in customer journey workflows. The opportunity is supported by secular shifts toward personalization, omnichannel execution, and first-party data-driven engagement. The primary investment debate centers on competitive pressure from larger suites and point solutions, balanced against Braze’s ability to maintain retention and expand usage as customer engagement programs mature.


⚠ AI-generated — informational only. Validate using filings before investing.

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📰 Market News & Coverage

15 Stories Available

Real-time institutional reporting and market updates for BRZE.

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Braze Blazes Ahead on Q1 2027 Earnings Beat, Raised Guidance

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Braze, Inc. (BRZE) Q1 2027 Earnings Call Transcript

Braze, Inc. (BRZE) Q1 2027 Earnings Call Transcript

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Braze (BRZE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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Braze, Inc. (BRZE) Q1 Earnings Meet Estimates

Braze, Inc. (BRZE) came out with quarterly earnings of $0.1 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.07 per share a year ago.

marketbeat.com2026-05-27

Braze Q1 Earnings Call Highlights

Braze NASDAQ: BRZE reported a strong start to fiscal 2027, with executives pointing to accelerating revenue growth, improving retention and rising demand for its AI-driven customer engagement tools.

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Braze Delivers Fourth Straight Quarter of Organic Revenue Growth Acceleration

NEW YORK--(BUSINESS WIRE)--Braze (Nasdaq: BRZE) the leading customer engagement platform that empowers brands to Be Absolutely Engaging™, today announced results for its fiscal quarter ended April 30, 2026. “We are off to a strong start in fiscal year 2027, delivering the fourth straight quarter of organic revenue acceleration, driven by strong demand for our AI-powered customer engagement platform,” said Bill Magnuson, cofounder and CEO of Braze. “The strong market momentum we experienced at t.

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Braze Delivers Powerful New Agentic AI Capabilities That Transform How Marketers Build, Personalize, and Deliver Customer Experiences

LONDON--(BUSINESS WIRE)--Braze (Nasdaq: BRZE), the leading customer engagement platform that empowers brands to Be Absolutely Engaging™, today delivered a new set of AI capabilities that transform how marketers build and deliver engaging and relevant experiences for their customers. From reaching new audiences to driving conversion and long-term loyalty, these capabilities join together in an integrated platform that gives marketers a unified way to manage the full customer lifecycle. BrazeAI O.

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Braze Unveils New Research Showing How AI, Data, and Decisioning Are Redefining Customer Engagement

LONDON--(BUSINESS WIRE)--Braze (Nasdaq: BRZE), the leading customer engagement platform that empowers brands to Be Absolutely Engaging™, today released two new research studies from Forrester Consulting and Cowry that highlight fundamental shifts in how brands must approach customer engagement in the age of AI. Together, the findings show that while AI adoption is nearly universal, most organizations are still struggling to translate that investment into meaningful business impact. The research.

📊 AI Financial Analysis

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Earnings Data: Q Ending 2026-04-30

"BRZE reported Q1’27 revenue of $211.0M and net income of -$26.6M (EPS -$0.24) as of 2026-04-30. On a YoY basis (vs 2025-04-30), revenue grew +30.1% and net loss improved slightly (net income went from -$35.8M to -$26.6M, a +25.7% improvement in earnings). Sequentially (vs 2026-01-31), revenue rose +2.9%, while net loss widened to -$26.6M from -$31.6M (improvement of +15.8%). Profitability remains negative: gross margin was strong at 65.7% but operating margin is still -13.0% in the latest quarter, worse than Q4’26 (-8.2%) as operating expense pressure persists. Over the full four-quarter run, gross margin drifted down (from ~68.6% to ~65.7%), suggesting some margin normalization, while operating and net margins stayed consistently loss-making. Cash flow quality is mixed but improving: Q1’27 operating cash flow was +$28.1M and free cash flow +$28.0M. The company exited the quarter with $145.3M cash and $242.2M short-term investments (total cash & ST investments $387.5M). Financing included a ~$50M share repurchase, which partially offset cash buildup. Total shareholder return is currently pressured by weak market momentum: price is down ~20.3% over the past year and the stock shows no dividend support (yield 0%)."

Revenue Growth

Good

QoQ revenue +2.9% (205.2M to 211.0M) and YoY revenue +30.1% (162.1M to 211.0M) show solid growth despite early-quarter lumpiness.

Profitability

Neutral

Gross margin eased (from ~68.6% in Q1’26 to 65.7% in Q1’27). Operating margin remains deeply negative (-13.0% in Q1’27 vs -8.2% in Q4’26), keeping EPS negative (EPS -$0.24).

Cash Flow Quality

Fair

Q1’27 operating cash flow was +$28.1M and free cash flow +$28.0M, supporting near-term liquidity. No dividends; share repurchase (~$50M) indicates some capital return capacity despite ongoing losses.

Leverage & Balance Sheet

Neutral

Balance sheet liquidity is strong: cash & short-term investments $387.5M. Total assets increased to ~$1.09B, and equity is sizable (~$0.58B). Net debt remains negative (net debt -$63.8M), indicating resilience for a non-bank.

Shareholder Returns

Neutral

Dividend yield is 0%. Market performance is weak with 1Y price change of -20.27%, which weighs total return despite buybacks.

Analyst Sentiment & Valuation

Fair

Consensus price target ($42.44) is meaningfully above the current price (~$22.66), implying upside. However, valuation metrics are distorted by losses (negative P/E), and the stock has underperformed over the last year.

Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.

Fundamentals Overview

Loading fundamentals overview...

Braze started fiscal 2027 strongly with $211M revenue (+30% YoY; +3% QoQ) and improving efficiency, driving Non-GAAP operating margin up by over 300 bps YoY. Retention strengthened, with dollar-based net retention reaching 110% (+100 bps) and 111% for large customers (+100 bps). Gross margin fell YoY to 67.4% due to premium messaging volumes and Decisioning Studio headcount for Core. The key commercial driver is AI adoption translating into bookings and expansions, including new wins such as Bondora Group, ClassPass, Denny’s, Deuna, Kueski, NRMA, Regal Cinemas, Solomon, and Subway, plus reference customers like Clio and Luxury Escapes. Operationally, the company is actively solving prior Decisioning Studio capacity constraints by ramping forward-deployed delivery personnel, enabling Q2 decisioning studio revenue growth of 15%–20% sequentially. Guidance reinforces momentum: Q2 revenue $219.5M–$220.5M (~22% YoY), and FY27 revenue $895M–$899M with implied ~8% Non-GAAP operating margin at midpoint.

AI IconGrowth Catalysts

  • Braze AI Operator and Braze AI Agent Console reaching general availability early in Q1 27, ahead of schedule; early adoption by hundreds of customers
  • Braze AI Decisioning Studio demand despite prior Q4 supply constraints, with accelerated start dates after ramping forward-deployed delivery personnel; Q2 decisioning studio revenue expected to grow 15% to 20% sequentially
  • Upsell and deeper data platform integrations driven by additional channels and experimentation with Braze AI tools
  • Legacy replacement cycle acting as a sustained demand source for AI-driven solutions paired with first-party data activation

Business Development

  • New business wins / expansions: Bondora Group, ClassPass, Denny's, Deuna, Kueski, NRMA, Regal Cinemas, Solomon, Subway
  • Milestone new business win with a prominent AI lab (unnamed)
  • Case study customers referenced: Clio (AI Operator), Luxury Escapes (AI Agent Console)
  • Other referenced customer wins/expansions: Australian online wagering business (unnamed), French athletic apparel company (unnamed), global retirement and investment solutions company (unnamed), leading US energy drink company (unnamed), LatAm expansion with an existing global beauty customer (unnamed), large hotel franchisee adopting Decisioning Studio (unnamed)

AI IconFinancial Highlights

  • Revenue: $211.0M, +30% YoY and +3% QoQ
  • Non-GAAP operating margin: improved by over 300 bps YoY (management cited >300 bps); Non-GAAP operating income $10.5M (5% of revenue) vs $2.8M (2%) prior-year quarter
  • Non-GAAP gross margin: 67.4% (down from 69.3% YoY); year-over-year decline attributed primarily to higher premium messaging volumes and Decisioning Studio headcount added for Core
  • EPS (Non-GAAP): $0.10 per share vs $0.07 prior-year quarter
  • Dollar-based net retention: improved another 100 bps to 110% (total) and 100 bps to 111% for large customers
  • Organic growth signal: Decisioning Studio contributed $5.7M in quarter, implying organic YoY growth rate of 26.7%
  • RPO: total remaining performance obligation $1.1B (+30% YoY, +4% QoQ); Current RPO $670M, up to 28% YoY from 27% prior quarter

AI IconCapital Funding

  • No buyback, debt level, or incremental financing disclosed in the transcript
  • Cash: ended quarter with ~$392M in cash equivalents, restricted cash, and marketable securities
  • Operating cash flow: $28M; free cash flow record $27M (capitalized costs included); management expects FCF to fluctuate due to timing of customer/vendor payments

AI IconStrategy & Ops

  • Decisioning Studio Q4 26 supply constraint limited bookings and delayed start dates by multiple months; Q1 accelerates by ramping hiring and forward-deployed delivery personnel
  • Q2 expects decisioning studio revenue to grow 15% to 20% sequentially from Q1
  • Professional services revenue structure: subscription line historically included CS entitlements with activity-based allocation; now more specific CS SKUs/SKU line items created to improve transparency and shift attribution to professional services (no fundamental change to revenue recognition referenced)
  • Product/automation expansion: Decisioning Studio self-serve features advancing; content optimizer support expanded to SMS, MMS, and RCS in addition to email and push

AI IconMarket Outlook

  • Q2 fiscal 27 revenue guidance: $219.5M to $220.5M (~22% YoY at midpoint)
  • Q2 Non-GAAP operating income: $17M to $18M; implied Non-GAAP operating margin ~8% at midpoint
  • Q2 Non-GAAP net income: $17M to $18M; Non-GAAP EPS $0.15 to $0.16 on ~114M weighted average diluted shares
  • Full-year fiscal 27 revenue: $895M to $899M (~22% YoY at midpoint)
  • Full-year fiscal 27 Non-GAAP operating income: $70M to $74M; implied Non-GAAP operating margin ~8% at midpoint
  • Full-year Non-GAAP net income per share: $0.61 to $0.65 on ~114M full-year weighted average diluted shares
  • Management reiteration: on track to achieve 400 bps operating margin expansion promised for fiscal year 27

AI IconRisks & Headwinds

  • Q4 26 supply constraint reduced Decisioning Studio bookings in certain regions and delayed start dates; although being mitigated via hiring ramp, it signals capacity/supply execution risk for future quarters
  • Non-GAAP gross margin pressure YoY from higher premium messaging volumes and Decisioning Studio headcount attributable to Core
  • Customer readiness/education remains necessary for scaled AI adoption (education, baseline deployment, then experimentation and scale)

Q&A: Analyst Interest

  • Decisioning Studio hiring bottleneck: Isabelle confirmed she would not break out Q1 impact but said the hiring ramp is purposefully tied to the sequential Q2 revenue range. She described progress from zero to one on capacity in certain locations, with Decisioning Studio starting in Americas before scaling EMEA/APAC, supporting the Q2 timing.
  • AI adoption prioritization and workflow readiness: Bill explained their roadmap prioritization as two parts—marketer workflow enablement (including increased usage of Braze MCP server) and performance/decisioning quality for personalization and relevance optimization. He emphasized customer education as paramount, and positioned Braze AI as improving productivity and bottom-line outcomes.
  • Professional services jump and gross margin impact: Isabelle attributed the professional services revenue increase mainly to CS entitlement packaging changes—moving CS entitlements from a mostly bundled subscription attribution into more specific line items/SKUs for transparency and accounting attribution—plus some deployed personnel mix. She said there’s some gross margin impact from personnel and messaging, but strategic cost-optimized locations and messaging drive the margin story.

Sentiment: POSITIVE

Note: This summary was synthesized by AI from the BRZE Q1 2027 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.

📋 Official Regulatory 10-K / 10-Q SEC Filings

Direct authenticated documentation links to audited SEC database reports for BRZE.

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SEC Filings (BRZE)

© 2026 Stock Market Info — Braze, Inc. (BRZE) Financial Profile