Financials
Income statement, balance sheet and cash flow, built from SEC EDGAR filings.
Braze, Inc.
BRZE
· CIK 0001676238
Figures in millions of USD unless the line is a per-share amount or a share count.
| Line item | Q2 2027 2026-07-31 | Q1 2027 2026-04-30 | Q4 2026 2026-01-31 | Q3 2026 2025-10-31 | Q2 2026 2025-07-31 | Q1 2026 2025-04-30 | Q4 2025 2025-01-31 | Q3 2025 2024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 227 | 211 | 205 | 191 | 180 | 162 | 160 | 152 |
| Gross Profit | 152 | 139 | 134 | 128 | 122 | 111 | 111 | 106 |
| Operating Income | -18 | -28 | -28 | -38 | -39 | -40 | -22 | -33 |
| Pre-Tax Income | -16 | -24 | -25 | -34 | -35 | -35 | -16 | -27 |
| Net Income | -19 | -27 | -32 | -36 | -28 | -36 | -17 | -28 |
| EPS (Diluted) | -0.17 | -0.24 | -0.28 | -0.33 | -0.26 | -0.34 | -0.16 | -0.27 |
| Balance Sheet | ||||||||
| Total Assets | 1,131 | 1,091 | 1,114 | 1,041 | 1,023 | 889 | 871 | 842 |
| Total Liabilities | 529 | 508 | 490 | 439 | 423 | 415 | 396 | 384 |
| Shareholders' Equity | 600 | 582 | 624 | 602 | 599 | 474 | 475 | 458 |
| Cash & Equivalents | 167 | 145 | 124 | 98 | 81 | 231 | 83 | 61 |
| Cash Flow | ||||||||
| Operating Cash Flow | 24 | 28 | 19 | 21 | 7 | 24 | 17 | -11 |
| Capital Expenditures | -1 | 0 | -5 | -2 | -3 | 0 | -1 | -2 |
| Free Cash Flow | 23 | 28 | 15 | 19 | 4 | 24 | 16 | -13 |
| Ratios | ||||||||
| Gross Margin | 66.83% | 65.72% | 65.48% | 67.18% | 67.67% | 68.62% | 69.26% | 69.81% |
| Operating Margin | -7.98% | -13.04% | -13.76% | -19.67% | -21.52% | -24.82% | -13.44% | -21.42% |
| Profit Margin | -8.30% | -12.60% | -15.40% | -18.86% | -15.49% | -22.08% | -10.72% | -18.36% |
| Free Cash Flow Margin | 10.14% | 13.28% | 7.09% | 9.97% | 2.41% | 14.76% | 9.97% | -8.77% |
| Line item | Q2 2027 2026-07-31 | Q1 2027 2026-04-30 | Q4 2026 2026-01-31 | Q3 2026 2025-10-31 | Q2 2026 2025-07-31 | Q1 2026 2025-04-30 | Q4 2025 2025-01-31 | Q3 2025 2024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Total Revenue | 227 | 211 | 205 | 191 | 180 | 162 | 160 | 152 |
| Cost of Revenue | ||||||||
| Cost of Revenue | 75 | 72 | 71 | 63 | 58 | 51 | 49 | 46 |
| Gross Profit | ||||||||
| Gross Profit | 152 | 139 | 134 | 128 | 122 | 111 | 111 | 106 |
| Operating Expenses | ||||||||
| R&D Expense | 45 | 46 | 45 | 44 | 41 | 37 | 34 | 33 |
| Selling & Marketing | 93 | 89 | 82 | 89 | 83 | 74 | 69 | 75 |
| General & Administrative | 32 | 31 | 36 | 33 | 37 | 41 | 30 | 31 |
| Total Operating Expenses | 170 | 166 | 163 | 166 | 161 | 151 | 133 | 139 |
| Operating Income | ||||||||
| Operating Income | -18 | -28 | -28 | -38 | -39 | -40 | -22 | -33 |
| Non-Operating Items | ||||||||
| Other Non-Operating Items | 2 | 3 | 4 | 3 | 4 | 6 | 6 | 5 |
| Pre-Tax Income | ||||||||
| Income Before Tax | -16 | -24 | -25 | -34 | -35 | -35 | -16 | -27 |
| Tax | ||||||||
| Income Tax Expense | 2 | 1 | 7 | 2 | -7 | 1 | 1 | 1 |
| Net Income | ||||||||
| Net Income Available to Common | -19 | -27 | -32 | -36 | -28 | -36 | -17 | -28 |
| EPS | ||||||||
| EPS (Basic) | -0.17 | -0.24 | -0.28 | -0.33 | -0.26 | -0.34 | -0.16 | -0.27 |
| EPS (Diluted) | -0.17 | -0.24 | -0.28 | -0.33 | -0.26 | -0.34 | -0.16 | -0.27 |
| Shares | ||||||||
| Shares Outstanding (Basic) | 111 | 111 | 113 | 108 | 107 | 105 | 104 | 102 |
| Shares Outstanding (Diluted) | 111 | 111 | 113 | 108 | 107 | 105 | 104 | 102 |
| Other Items | ||||||||
| Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Line item | Q2 2027 2026-07-31 | Q1 2027 2026-04-30 | Q4 2026 2026-01-31 | Q3 2026 2025-10-31 | Q2 2026 2025-07-31 | Q1 2026 2025-04-30 | Q4 2025 2025-01-31 | Q3 2025 2024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total Assets | 1,131 | 1,091 | 1,114 | 1,041 | 1,023 | 889 | 871 | 842 |
| Current Assets | 570 | 547 | 568 | 502 | 485 | 659 | 644 | 613 |
| Current Assets | ||||||||
| Cash & Cash Equivalents | 167 | 145 | 124 | 98 | 81 | 231 | 83 | 61 |
| Accounts Receivable, Net | 112 | 118 | 122 | 90 | 88 | 86 | 95 | 90 |
| Prepaid & Other Current Assets | 47 | 40 | 33 | 28 | 31 | 34 | 35 | 30 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment, Net | 42 | 42 | 44 | 41 | 40 | 39 | 39 | 40 |
| Goodwill | 262 | 262 | 262 | 267 | 268 | 28 | 28 | 28 |
| Intangible Assets, Net (excl. Goodwill) | 56 | 58 | 61 | 65 | 68 | 3 | 3 | 3 |
| Other Non-Current Assets | 5 | 4 | 3 | 4 | 4 | 4 | 3 | 4 |
| Operating Lease Right-of-Use Assets | 72 | 71 | 72 | 73 | 73 | 76 | 76 | 80 |
| Liabilities & Equity | ||||||||
| Total Liabilities & Equity | 1,131 | 1,091 | 1,114 | 1,041 | 1,023 | 889 | 871 | 842 |
| Liabilities | ||||||||
| Total Liabilities | 529 | 508 | 490 | 439 | 423 | 415 | 396 | 384 |
| Current Liabilities | ||||||||
| Current Liabilities | 450 | 441 | 420 | 369 | 354 | 344 | 324 | 308 |
| Accounts Payable | 2 | 6 | 2 | 4 | 1 | 1 | 2 | 3 |
| Deferred Revenue, Current | 347 | 343 | 305 | 271 | 262 | 265 | 240 | 224 |
| Operating Lease Liability, Current | 19 | 20 | 19 | 20 | 20 | 19 | 18 | 18 |
| Non-Current Liabilities | ||||||||
| Operating Lease Liability, Non-Current | 62 | 62 | 63 | 64 | 64 | 68 | 69 | 74 |
| Other Non-Current Liabilities | 5 | 5 | 6 | 6 | 5 | 3 | 2 | 2 |
| Equity | ||||||||
| Total Stockholders' Equity | 600 | 582 | 624 | 602 | 599 | 474 | 475 | 458 |
| Additional Paid-In Capital | 1,364 | 1,326 | 1,340 | 1,288 | 1,249 | 1,095 | 1,063 | 1,027 |
| Retained Earnings (Deficit) | -764 | -745 | -718 | -687 | -651 | -623 | -587 | -570 |
| Accumulated OCI | 0 | 0 | 2 | 0 | 0 | 2 | -1 | 0 |
| Other Items | ||||||||
| Accounts Receivable, Allowance for Credit Loss, Current | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Restricted Cash, Current | 1 | 1 | 1 | 1 | 1 | — | 0 | 0 |
| Common stock, shares authorized | — | — | 2,000 | — | — | — | — | — |
| Debt Securities, Available-for-Sale, Excluding Accrued Interest, Current | 243 | 242 | 288 | 285 | 283 | 308 | 430 | 431 |
| Restricted Cash, Noncurrent | 3 | 3 | 3 | 3 | 3 | 1 | 1 | 1 |
| Finance Lease, Right-of-Use Asset, after Accumulated Amortization | 15 | — | 0 | — | — | — | — | — |
| Capitalized Contract Cost, Net, Noncurrent | 107 | 104 | 101 | 86 | 82 | 79 | 77 | 72 |
| Accrued expenses and other current liabilities | 79 | 74 | 95 | 74 | 70 | 58 | 64 | 63 |
| Finance Lease, Liability, Current | 4 | — | 0 | — | — | — | — | — |
| Finance Lease, Liability, Noncurrent | 11 | — | 0 | — | — | — | — | — |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Line item | Q2 2027 2026-07-31 | Q1 2027 2026-04-30 | Q4 2026 2026-01-31 | Q3 2026 2025-10-31 | Q2 2026 2025-07-31 | Q1 2026 2025-04-30 | Q4 2025 2025-01-31 | Q3 2025 2024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | -18 | -25 | -32 | -36 | -28 | -36 | -17 | -28 |
| Operating Cash Flow | 24 | 28 | 19 | 21 | 7 | 24 | 17 | -11 |
| Depreciation & Amortization (CF) | — | 6 | — | — | — | 3 | — | — |
| Share-Based Compensation | 36 | 36 | 38 | 38 | 38 | 31 | 28 | 28 |
| Change in Accounts Receivable | 6 | 4 | -32 | -2 | 2 | 9 | -5 | -21 |
| Change in Accounts Payable | -4 | 4 | -2 | 3 | 0 | -1 | -1 | -2 |
| Change in Accrued Liabilities | 6 | -21 | 20 | 5 | 8 | -7 | 2 | -1 |
| Change in Deferred Revenue | 4 | 38 | 33 | 9 | -10 | 25 | 16 | 12 |
| Change in Prepaid & Other Assets | -7 | -7 | -4 | 3 | 2 | 3 | -5 | 1 |
| Provision for Credit Losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Other Non-Cash Items | — | — | 0 | 0 | — | — | 0 | 0 |
| Investing Activities | ||||||||
| Investing Cash Flow | -4 | 43 | -7 | -6 | -161 | 123 | -1 | -8 |
| Capital Expenditures | -1 | 0 | -5 | -2 | -3 | 0 | -1 | -2 |
| Acquisitions, Net of Cash | — | — | 0 | -1 | — | — | 0 | 0 |
| Maturities of Investments | 23 | 36 | 38 | 35 | 39 | 63 | 36 | 32 |
| Financing Activities | ||||||||
| Financing Cash Flow | 2 | -50 | 14 | 1 | 7 | 1 | 6 | 1 |
| Share Repurchases | 0 | -50 | — | — | 0 | 0 | — | — |
| Reconciliation | ||||||||
| Effect of Exchange Rate Changes | 0 | 0 | 1 | 0 | 0 | 1 | -1 | 0 |
| Net Change in Cash | 21 | 21 | 27 | 16 | -146 | 148 | 22 | -18 |
| Supplemental | ||||||||
| Income Taxes Paid | 1 | 2 | 1 | 0 | 1 | 2 | 0 | 1 |
| Other Items | ||||||||
| Capitalized Contract Cost, Amortization | 13 | 12 | 11 | 10 | 10 | 9 | 9 | 9 |
| Cost, Depreciation and Amortization | — | — | — | 6 | — | — | — | 3 |
| Noncash Contribution Expense | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Amortization of Debt Discount (Premium) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
| Unrealized Gain (Loss), Foreign Currency Transaction, before Tax | 0 | 0 | — | 0 | 0 | 0 | — | 0 |
| Deferred income taxes {1} | — | 0 | — | — | — | 0 | — | — |
| Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease) | — | — | — | 0 | 0 | 0 | — | 0 |
| Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item | — | 0 | — | — | — | 0 | — | — |
| Deferred contract costs | -16 | -15 | -26 | -14 | -13 | -12 | -13 | -13 |
| ROU assets and liabilities | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets {1} | -1 | -1 | 7 | 0 | -8 | 0 | 0 | -1 |
| Increase (Decrease) in Other Noncurrent Liabilities | 1 | -3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payments to Develop Software | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Payments to Acquire Debt Securities, Available-for-Sale | -31 | -27 | -40 | -37 | -23 | -52 | -38 | -37 |
| Return of principal on marketable securities | 7 | 35 | — | 0 | 7 | 113 | — | 0 |
| Payment for Contingent Consideration Liability, Financing Activities | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Proceeds from Stock Plans | 1 | 0 | 2 | 0 | 3 | 1 | 3 | 0 |
| Stock-based compensation capitalized to internal-use software | 1 | 1 | 0 | 1 | 0 | 1 | 0 | 1 |
| Debt Securities, Available-for-Sale, Unrealized Gain (Loss) | -1 | -1 | 0 | 1 | -1 | 1 | 0 | 0 |
| Net change to property and equipment (included in accounts payable/accrued liabilities) | 0 | 0 | -1 | 0 | 0 | 1 | -1 | 0 |
| Settlement of Asset Retirement Obligations Through Noncash Payments, Amount | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Excise tax on stock repurchase (included in accrued liabilities) | — | 0 | — | — | — | 0 | — | — |
| Goodwill, Measurement Period Adjustment | 0 | 0 | — | — | 0 | 0 | — | — |
| Stock Issued | — | — | 0 | 1 | — | — | 0 | 0 |
Ratios derived from the statements above and the EOD price feed; prices are taken at each period's end date.
| Line item | Q2 2027 2026-07-31 | Q1 2027 2026-04-30 | Q4 2026 2026-01-31 | Q3 2026 2025-10-31 | Q2 2026 2025-07-31 | Q1 2026 2025-04-30 | Q4 2025 2025-01-31 | Q3 2025 2024-10-31 |
|---|---|---|---|---|---|---|---|---|
| Financial Efficiency | ||||||||
| Asset Turnover | 0.20 | 0.19 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 |
| Current Ratio | 1.27 | 1.24 | 1.35 | 1.36 | 1.37 | 1.92 | 1.98 | 1.99 |
| Debt / EBITDA Ratio | — | -3.84 | — | — | — | -2.32 | — | — |
| Debt / Equity Ratio | 0.14 | 0.14 | 0.13 | 0.14 | 0.14 | 0.18 | 0.18 | 0.20 |
| Debt / FCF Ratio | 3.52 | 2.91 | 5.68 | 4.41 | 19.44 | 3.65 | 5.47 | -6.91 |
| Net Debt / EBITDA Ratio | — | 3.01 | — | — | — | 3.83 | — | — |
| Net Debt / Equity Ratio | -0.14 | -0.11 | -0.07 | -0.02 | 0.01 | -0.30 | 0.01 | 0.07 |
| Net Debt / FCF Ratio | -3.72 | -2.28 | -2.86 | -0.73 | 0.79 | -6.03 | 0.27 | -2.31 |
| Quick Ratio | 0.62 | 0.60 | 0.59 | 0.51 | 0.48 | 0.92 | 0.55 | 0.49 |
| Return on Assets (ROA) | -1.70% | -2.41% | -2.93% | -3.49% | -2.92% | -4.07% | -2.01% | -3.35% |
| Return on Capital Employed (ROCE) | -2.66% | -4.24% | -4.07% | -5.59% | -5.79% | -7.38% | -3.94% | -6.10% |
| Return on Equity (ROE) | -3.19% | -4.41% | -5.16% | -6.00% | -5.20% | -7.54% | -3.69% | -6.12% |
| Return on Invested Capital (ROIC) | -3.66% | -5.13% | -5.43% | -6.12% | -4.63% | -10.84% | -3.59% | -5.71% |
| Yields | ||||||||
| Earnings Yield | -0.68% | -1.09% | -1.35% | -1.15% | -0.93% | -1.09% | -0.36% | -0.86% |
| FCF Yield | 0.83% | 1.15% | 0.62% | 0.62% | 0.15% | 0.73% | 0.33% | -0.41% |
| Total Valuation | ||||||||
| Enterprise Value | 2,858 | 2,505 | 2,386 | 3,098 | 2,973 | 3,400 | 4,795 | 3,183 |
| Last Close Price | 24.92 | 22.03 | 20.82 | 28.66 | 27.87 | 31.13 | 45.98 | 31.46 |
| Market Capitalization | 2,772 | 2,441 | 2,345 | 3,085 | 2,977 | 3,255 | 4,799 | 3,214 |
| EV Ratios | ||||||||
| EV/EBIT Ratio | -157.70 | -91.03 | -84.51 | -82.53 | -76.72 | -84.52 | -222.40 | -97.72 |
| EV/EBITDA Ratio | — | -117.98 | — | — | — | -90.37 | — | — |
| EV/FCF Ratio | 124.04 | 89.40 | 163.96 | 162.86 | 684.61 | 142.08 | 299.74 | -238.71 |
| EV/Sales Ratio | 12.58 | 11.87 | 11.63 | 16.24 | 16.51 | 20.98 | 29.89 | 20.93 |
| Price Ratios | ||||||||
| P/FCF Ratio | 120.32 | 87.12 | 161.09 | 162.13 | 685.40 | 136.05 | 300.02 | -241.02 |
| P/OCF Ratio | 114.51 | 86.78 | 121.02 | 147.12 | 428.18 | 134.83 | 280.93 | -281.64 |
| P/TBV Ratio | 9.81 | 9.35 | 7.80 | 11.40 | 11.30 | 7.35 | 10.83 | 7.54 |
| PB Ratio | 4.62 | 4.20 | 3.76 | 5.12 | 4.97 | 6.86 | 10.11 | 7.02 |
| PE Ratio | -146.59 | -91.79 | -74.20 | -86.85 | -107.19 | -91.56 | -279.17 | -116.52 |
| PEG Ratio | -5.03 | -6.34 | -4.96 | — | -4.56 | — | -7.16 | — |
| PS Ratio | 12.20 | 11.57 | 11.43 | 16.16 | 16.53 | 20.09 | 29.92 | 21.13 |