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.
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
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
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