Braze, Inc.
- Open
- 33.65
- Day high
- 34.08
- Day low
- 33.27
- Prev close
- 34.04
- Volume
- 79K
- Mkt cap
- $3.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.5
- P/S
- 4.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$8.3M over the last 3 months (0 open-market buys, 20 sales)
- 🏛Institutions accumulating (13F)
Braze, Inc. (BRZE) is a Technology company listed on NASDAQ. The stock is up 26% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 20 sales (SEC Form 4).
Braze, Inc. (BRZE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BRZE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 27, 2026 | $0.10 | $0.10 | +0.0% | $211M | +2.9% |
| Mar 24, 2026 | $0.14 | $0.10 | -28.6% | $205M | +3.5% |
| Dec 9, 2025 | $0.06 | $0.06 | -3.6% | $191M | +3.4% |
| Sep 4, 2025 | $0.03 | $0.15 | +400.0% | $180M | -2.2% |
| Jun 5, 2025 | $0.05 | $0.07 | +52.6% | $162M | +2.2% |
| Mar 27, 2025 | $0.05 | $0.12 | +140.0% | $160M | +3.0% |
| Dec 9, 2024 | $-0.01 | $0.02 | +441.9% | $152M | +2.6% |
| Sep 5, 2024 | $0.02 | $0.09 | +379.7% | $145M | +3.0% |
| Jun 6, 2024 | $-0.10 | $-0.05 | +50.6% | $135M | +2.9% |
| Dec 6, 2023 | $-0.13 | $-0.05 | +61.5% | $124M | -0.7% |
| Sep 7, 2023 | $-0.14 | $-0.04 | +71.4% | $115M | +0.7% |
| Jun 8, 2023 | $-0.18 | $-0.13 | +27.8% | $102M | -6.3% |
BRZE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 28, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Sell | 9,320 | $33.12 |
| Aug 28, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Sell | 32,680 | $32.28 |
| Aug 26, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Sell | 10,000 | $31.04 |
| Aug 26, 2026 | McDonnell Edward M.officer: Chief Revenue Officer | Sell | 5,805 | $31.74 |
| Aug 26, 2026 | McDonnell Edward M.officer: Chief Revenue Officer | Sell | 23,927 | $31.29 |
| Aug 21, 2026 | Malik Asthaofficer: Chief Business Officer | Sell | 7,530 | $30.36 |
| Aug 21, 2026 | Malik Asthaofficer: Chief Business Officer | Sell | 7,794 | $28.74 |
| Aug 21, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Sell | 200 | $30.75 |
| Aug 21, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Sell | 6,925 | $30.37 |
| Aug 21, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Sell | 2,288 | $28.77 |
| Aug 21, 2026 | Malik Asthaofficer: Chief Business Officer | Sell | 400 | $30.75 |
| Aug 19, 2026 | Malik Pankajofficer: Chief Accounting Officer | Tax | 2,121 | $28.93 |
| Aug 19, 2026 | Magnuson Williamdirector, officer: Chief Executive Officer | Tax | 46,421 | $28.93 |
| Aug 19, 2026 | Hyman Jonathanofficer: Chief Technology Officer | Tax | 15,784 | $28.93 |
| Aug 19, 2026 | Malik Asthaofficer: Chief Business Officer | Tax | 21,277 | $28.93 |
Source: BRZE SEC Form 4 filings, latest Aug 28, 2026. For informational purposes only — not investment advice.
See the full BRZE insider & 13F page →Braze, Inc. company profile
Overview
Braze, Inc. (NASDAQ:BRZE) is a customer engagement platform company founded in 2011 and originally known as Appboy before rebranding in November 2017. The New York-headquartered company went public in November 2021 and operates globally, serving over 2,200 brands worldwide with its comprehensive customer engagement and marketing automation platform. Braze has evolved from a mobile-focused messaging company into a full-stack customer engagement platform that helps brands build meaningful relationships with their customers across multiple digital channels.
Business
Braze operates in the customer engagement platform industry, which sits at the intersection of marketing technology (martech) and customer relationship management. The company provides a comprehensive software platform that enables brands to collect, analyze, and act on customer data to deliver personalized marketing messages and experiences across multiple digital channels. The core product is the Braze Customer Engagement Platform, which consists of several integrated components. The platform includes data ingestion tools like software development kits (SDKs) that automatically collect customer behavior data from mobile apps and websites, as well as REST APIs that allow brands to import customer data from their existing technology systems. The platform also offers advanced segmentation capabilities that help marketers group customers based on their attributes, behaviors, and predicted future actions. One of Braze's flagship features is Canvas, an orchestration tool that allows marketers to create complex, multi-step customer journeys across different communication channels. Think of Canvas as a visual workflow builder where marketers can map out automated sequences of messages - for example, sending a welcome email to new customers, followed by a push notification three days later, and then an in-app message if they haven't made a purchase within a week. The platform supports messaging across numerous channels including email, push notifications, in-app messages, SMS, WhatsApp, web push notifications, and content cards. Recently, Braze has been expanding into newer channels like RCS (Rich Communication Services) messaging and LINE messaging to stay current with evolving communication preferences. Braze generates revenue primarily through subscription-based software-as-a-service (SaaS) model, with subscription revenue accounting for approximately 96% of total revenue. The company serves customers across various industries, with retail and consumer goods representing roughly 20% of the business, while also serving financial services, media, travel, and technology companies globally.
Revenue model
Braze operates on a subscription-based SaaS business model, generating revenue primarily through annual and multi-year software licensing contracts. The company charges customers based on monthly active users (MAUs) on their platform, meaning brands pay more as their customer base grows and engages more frequently with their digital properties. This creates a natural expansion revenue model where successful customers automatically generate more revenue for Braze as their businesses grow. The company's customers are primarily enterprise and mid-market brands with significant digital customer bases. These include retailers like Shopify merchants, financial services companies, media companies, travel brands, and consumer goods companies. Braze's largest customers - those paying over $500,000 annually - now number 247 and contribute approximately 61% of total annual recurring revenue, demonstrating the platform's ability to expand within existing accounts. Beyond the core platform subscription, Braze generates additional revenue through professional services and flexible messaging credits for high-volume communication channels. The company has also introduced premium AI-powered features that command higher pricing, representing an opportunity for further monetization as artificial intelligence capabilities become more sophisticated. Several factors influence Braze's profitability margins. Positive factors include the company's improving gross margins (now around 71%) driven by economies of scale in their technology infrastructure, the high-margin nature of software subscriptions, and the expansion revenue from existing customers upgrading their usage. The company benefits from vendor consolidation trends where enterprises seek to reduce the number of marketing technology vendors they work with, positioning Braze as a comprehensive replacement for multiple point solutions. Margin pressure factors include the significant investment in research and development required to stay competitive in the rapidly evolving martech space, particularly around AI capabilities. International expansion requires upfront investment in local teams and data centers before generating returns. Additionally, the company faces pricing pressure in challenging macroeconomic environments where marketing budgets are scrutinized more heavily, and customers may negotiate harder on renewals or delay expansion purchases.
Competitive moat
Braze's competitive moat is moderate but strengthening, built primarily on data network effects, switching costs, and platform integration depth. The company's strongest defensive characteristic is the operational integration its platform achieves within customer organizations. Once brands integrate Braze's SDKs into their mobile apps and websites, connect their customer databases, and build complex multi-channel marketing campaigns in Canvas, the switching costs become substantial due to the time, technical effort, and institutional knowledge required to migrate to an alternative platform. The platform benefits from data network effects where the more customer interaction data flows through Braze, the more valuable its AI-powered personalization and predictive capabilities become. This creates a virtuous cycle where successful customers see better results, leading to deeper platform adoption and higher switching costs. Braze's recent acquisition of OfferFit for $325 million is specifically designed to strengthen this moat by adding advanced AI decisioning capabilities that become more valuable with scale and data volume. However, Braze's moat faces several competitive pressures. The company competes against well-funded incumbents like Salesforce Marketing Cloud and Adobe Experience Cloud, which have broader enterprise software ecosystems and deeper customer relationships. These platforms can cross-sell marketing automation as part of larger enterprise deals, potentially offering better pricing or bundling advantages. The customer engagement platform space also sees competition from specialized point solutions that may offer superior capabilities in specific channels (like email marketing or SMS) and newer entrants leveraging modern AI capabilities. Additionally, large technology platforms like Google and Meta continue to enhance their own marketing tools, potentially reducing demand for third-party customer engagement platforms. Braze's moat is strengthened by its focus on cross-channel orchestration and real-time personalization capabilities, which are difficult to replicate and require significant technical expertise. The company's international expansion and compliance with various data privacy regulations also create barriers for smaller competitors. However, the moat is not insurmountable, and Braze must continue investing heavily in product innovation, particularly in AI capabilities, to maintain its competitive position.
Risks & safety
Braze presents a moderate margin of safety with improving financial fundamentals but ongoing profitability challenges. • Liquidity and Solvency: Strong balance sheet with $83 million in cash and short-term investments, current ratio of 1.98, and manageable debt-to-equity ratio of 0.18. The company achieved positive free cash flow of $15.2 million in Q4 2025, indicating improving cash generation. • Cash Burn: Significantly improved trajectory with positive operating cash flow of $17 million in Q4 2025, compared to negative $11.4 million in Q3 2025. Full-year fiscal 2025 operating cash flow was positive $37 million, demonstrating operational efficiency gains. • Valuation Metrics: Trading at 9.9x price-to-book ratio and negative EV/EBITDA due to current losses. However, the company achieved non-GAAP operating profitability and expects continued positive operating income going forward. • Growth vs. Profitability: Revenue growing at 22-26% annually while transitioning to profitability. The $325 million OfferFit acquisition will impact near-term cash position but is expected to be accretive to growth. • Market Position: Strong competitive position with 113% net dollar retention rate and growing large customer base, providing revenue visibility and expansion opportunities.
Recent development
Over the past few years, Braze has undergone a significant strategic evolution from a mobile-first messaging platform to a comprehensive, AI-powered customer engagement platform. The company's most transformative recent development is its major investment in artificial intelligence capabilities, culminating in the announcement of Project Catalyst, an AI-driven agent that helps marketers optimize customer journeys by automatically generating and testing experience variations within the Canvas orchestration tool. The company has systematically expanded its channel capabilities beyond its original mobile push notification roots. Recent additions include enhanced WhatsApp messaging, LINE messaging support for Asian markets, and upcoming RCS (Rich Communication Services) messaging capabilities. This channel expansion positions Braze as a true omnichannel platform capable of reaching customers wherever they prefer to engage. Braze's data platform strategy represents another key strategic pivot. The launch of the Braze Data Platform with comprehensive cloud data integrations allows customers to unify their customer data more effectively, reducing the need for separate customer data platforms and strengthening Braze's position as a central hub for customer engagement activities. The company has accelerated its global expansion with new offices in São Paulo, Bucharest, Dubai, and Seoul, while also establishing regional data centers to comply with local data sovereignty requirements. International revenue now represents 45% of total revenue, demonstrating successful geographic diversification. Most recently, Braze announced its $325 million acquisition of OfferFit, an AI decisioning company that uses reinforcement learning to optimize customer engagement. This acquisition represents Braze's largest strategic investment and signals its commitment to becoming the leading AI-powered customer engagement platform. The acquisition is expected to help grow deal sizes and differentiate Braze's offering through advanced optimization capabilities. The company has also introduced new go-to-market initiatives including a free trial program and Braze for Startups, designed to expand its addressable market beyond large enterprises into smaller and emerging companies.
BRZE company profile · for informational purposes only — not investment advice.
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