Braze, Inc. BRZE
To forge vibrant connections between people and the brands they love, fueled by a community that inspires and technology that lights the way.
Braze is a leading customer engagement platform that empowers brands to Be Absolutely Engaging. Customer Engagement is an emerging category of business activity and software which we define as the full set of activities that companies use to build and maintain direct, meaningful relationships with their customers. Our platform brings together rich, first-party context, transforms that context with composable intelligence (models, agents, and operators), and delivers continuous, and personally relevant interactions across channels. As of January 2026, 2,609 customers around the world trusted Braze to power their cross-channel customer engagement strategies. In January 2026, our platform enabled interactions with 8.0 billion monthly active users via our customers' apps, websites, and other digital interfaces, up from 7.2 billion in January 2025.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Foreign
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| United States | $405.1M | $326.4M | $267.2M |
| Foreign | $333.1M | $267.0M | $204.6M |
As the company reported it, from the “Revenue from Contracts with Customers - Disaggregation of Revenue by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $738.2M | $593.4M | $471.8M | $355.4M | $238.0M | $150.2M | $96.4M | — |
| Cost of revenue | $242.5M | $183.2M | $147.5M | $115.8M | $78.5M | $54.5M | $35.7M | — |
| Gross profit | $495.7M | $410.2M | $324.3M | $239.6M | $159.5M | $95.7M | $60.7M | — |
| R&D | $167.1M | $134.0M | $119.9M | $97.3M | $59.0M | $29.2M | $20.3M | — |
| SG&A | $146.3M | $116.1M | $102.0M | $88.8M | $51.6M | $28.0M | $16.5M | — |
| Total operating expenses | $640.4M | $532.4M | $469.0M | $387.7M | $237.7M | $127.8M | $94.2M | — |
| Operating income | -$144.8M | -$122.2M | -$144.7M | -$148.1M | -$78.2M | -$32.2M | -$33.5M | — |
| Pre-tax income | -$128.2M | -$100.6M | -$128.5M | -$140.2M | -$78.3M | -$31.4M | -$31.4M | — |
| Income tax | $2.6M | $3.4M | $2.0M | $583.0K | $165.0K | $537.0K | $452.0K | — |
| Net income | -$130.8M | -$104.0M | -$130.4M | -$140.7M | -$78.2M | -$31.8M | -$31.8M | — |
| EPS, basic | -1.22 | -1.02 | -1.32 | -1.47 | -2.20 | -1.77 | -1.96 | — |
| EPS, diluted | -1.22 | -1.02 | -1.32 | -1.47 | -2.20 | -1.77 | -1.96 | — |
| Shares, diluted (wtd. avg.) | 107.9M | 102.2M | 98.1M | 94.6M | 34.9M | 18.0M | 16.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $124.3M | $83.1M | $72.1M | $72.6M | $483.0M | $33.0M | $11.6M | $104.9M |
| Short-term investments | — | — | — | — | $35.2M | $58.0M | — | — |
| Receivables | $122.3M | $95.2M | $92.3M | $78.3M | $64.5M | $34.8M | — | — |
| Total current assets | $567.9M | $644.0M | $601.1M | $583.2M | $608.2M | $134.0M | — | — |
| Property, plant and equipment | $43.5M | $38.5M | $29.4M | $20.3M | $7.4M | $5.5M | — | — |
| Goodwill | $261.9M | $28.4M | $28.4M | $0 | — | — | — | — |
| Other intangibles | $61.5M | $3.1M | $3.7M | $500.0K | — | — | — | — |
| Total assets | $1.11B | $871.0M | $810.9M | $705.4M | $666.3M | $171.4M | — | — |
| Accounts payable | $1.6M | $2.1M | $6.3M | $3.1M | $2.1M | $439.0K | — | — |
| Total current liabilities | $420.4M | $324.5M | $289.4M | $217.3M | $160.0M | $101.1M | — | — |
| Total liabilities | $489.6M | $396.2M | $366.5M | $258.6M | $161.4M | $103.4M | — | — |
| Retained earnings | -$718.1M | -$586.8M | -$483.1M | -$353.9M | -$215.0M | -$138.2M | — | — |
| Total equity | $623.8M | $474.9M | $444.2M | $445.3M | $501.6M | -$108.5M | -$86.9M | -$78.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $71.4M | $36.7M | $6.8M | -$22.3M | -$35.4M | -$6.1M | -$7.4M | — |
| Depreciation and amortisation | $19.3M | $10.1M | $7.0M | $4.6M | $2.8M | $1.6M | $645.0K | — |
| Stock-based compensation | $143.7M | $115.1M | $97.2M | $72.2M | $47.2M | $7.5M | $12.4M | — |
| Capital expenditure | $9.6M | $13.2M | $9.8M | $15.4M | $2.3M | $2.5M | $1.7M | — |
| Investing cash flow | -$50.9M | -$36.5M | -$20.0M | -$398.5M | $18.0M | $22.5M | -$87.2M | — |
| Financing cash flow | $23.0M | $11.7M | $13.1M | $11.3M | $467.9M | $4.9M | $1.3M | — |
| Buybacks | — | — | $165.0K | $0 | $0 | $204.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-021908.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $96.4M | $150.2M | $238.0M | $355.4M | $471.8M | $593.4M | $738.2M |
| Gross profit | — | $60.7M | $95.7M | $159.5M | $239.6M | $324.3M | $410.2M | $495.7M |
| Net income | — | -$31.8M | -$31.8M | -$78.2M | -$140.7M | -$130.4M | -$104.0M | -$130.8M |
Recent filings and events
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed Item 5.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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