Braze (BRZE)
Market Price (5/19/2026): $21.59 | Market Cap: $2.4 BilSector: Information Technology | Industry: Technology Hardware, Storage & Peripherals
Braze (BRZE)
Market Price (5/19/2026): $21.59Market Cap: $2.4 BilSector: Information TechnologyIndustry: Technology Hardware, Storage & Peripherals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% Megatrend and thematic driversMegatrends include Cloud Computing, Digital Advertising, and Artificial Intelligence. Themes include Software as a Service (SaaS), Show more. | Weak multi-year price returns2Y Excs Rtn is -90%, 3Y Excs Rtn is -107% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -145 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -20% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.6% Key risksBRZE key risks include [1] a history of unprofitability despite strong revenue growth, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Digital Advertising, and Artificial Intelligence. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -90%, 3Y Excs Rtn is -107% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -145 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -20% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.6% |
| Key risksBRZE key risks include [1] a history of unprofitability despite strong revenue growth, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Braze (BRZE) stock has gained about 5% since 1/31/2026 because of the following key factors:
1. Mixed Fiscal Fourth Quarter 2026 Results. Braze reported strong revenue for Q4 fiscal year 2026, which ended January 31, 2026, reaching $205.2 million, an increase of 27.9% year-over-year and surpassing analyst estimates of $198.23 million. However, the company's non-GAAP earnings per share of $0.10 missed the consensus forecast of $0.14, indicating ongoing profitability challenges with a GAAP net loss of $32 million. This mixed financial performance, combining robust top-line growth with bottom-line misses and gross margin compression, created conflicting signals for investors, contributing to the stock stabilizing rather than experiencing a sustained rally or significant decline.
2. Strong Fiscal Year 2027 Guidance and AI-Driven Momentum. Despite the mixed Q4 results, Braze issued optimistic guidance for the first quarter and full fiscal year 2027, projecting Q1 revenue between $204.5 million and $205.5 million and full-year revenue of $884 million to $889 million, representing approximately 20-21% growth. The company also anticipated improved non-GAAP operating income of $69 million to $73 million. This positive outlook, coupled with the continued emphasis on AI product innovation (such as BrazeAI Decisioning Studio™) and strategic partnerships, acted as a significant support for the stock, offsetting some of the profitability concerns.
Show more
1. Mixed Fiscal Fourth Quarter 2026 Results. Braze reported strong revenue for Q4 fiscal year 2026, which ended January 31, 2026, reaching $205.2 million, an increase of 27.9% year-over-year and surpassing analyst estimates of $198.23 million. However, the company's non-GAAP earnings per share of $0.10 missed the consensus forecast of $0.14, indicating ongoing profitability challenges with a GAAP net loss of $32 million. This mixed financial performance, combining robust top-line growth with bottom-line misses and gross margin compression, created conflicting signals for investors, contributing to the stock stabilizing rather than experiencing a sustained rally or significant decline.
2. Strong Fiscal Year 2027 Guidance and AI-Driven Momentum. Despite the mixed Q4 results, Braze issued optimistic guidance for the first quarter and full fiscal year 2027, projecting Q1 revenue between $204.5 million and $205.5 million and full-year revenue of $884 million to $889 million, representing approximately 20-21% growth. The company also anticipated improved non-GAAP operating income of $69 million to $73 million. This positive outlook, coupled with the continued emphasis on AI product innovation (such as BrazeAI Decisioning Studio™) and strategic partnerships, acted as a significant support for the stock, offsetting some of the profitability concerns.
Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 3.7% change in BRZE stock from 1/31/2026 to 5/18/2026 was primarily driven by a 6.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.82 | 21.58 | 3.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 693 | 738 | 6.5% |
| P/S Multiple | 3.2 | 3.2 | 0.0% |
| Shares Outstanding (Mil) | 108 | 111 | -2.6% |
| Cumulative Contribution | 3.7% |
Market Drivers
1/31/2026 to 5/18/2026| Return | Correlation | |
|---|---|---|
| BRZE | 3.7% | |
| Market (SPY) | 7.0% | 9.6% |
| Sector (XLK) | 21.3% | 12.1% |
Fundamental Drivers
The -24.7% change in BRZE stock from 10/31/2025 to 5/18/2026 was primarily driven by a -30.9% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.66 | 21.58 | -24.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 655 | 738 | 12.8% |
| P/S Multiple | 4.7 | 3.2 | -30.9% |
| Shares Outstanding (Mil) | 107 | 111 | -3.4% |
| Cumulative Contribution | -24.7% |
Market Drivers
10/31/2025 to 5/18/2026| Return | Correlation | |
|---|---|---|
| BRZE | -24.7% | |
| Market (SPY) | 8.9% | 14.6% |
| Sector (XLK) | 16.3% | 17.8% |
Fundamental Drivers
The -30.7% change in BRZE stock from 4/30/2025 to 5/18/2026 was primarily driven by a -40.6% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.13 | 21.58 | -30.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 593 | 738 | 24.4% |
| P/S Multiple | 5.4 | 3.2 | -40.6% |
| Shares Outstanding (Mil) | 104 | 111 | -6.2% |
| Cumulative Contribution | -30.7% |
Market Drivers
4/30/2025 to 5/18/2026| Return | Correlation | |
|---|---|---|
| BRZE | -30.7% | |
| Market (SPY) | 34.7% | 21.0% |
| Sector (XLK) | 67.0% | 22.2% |
Fundamental Drivers
The -26.6% change in BRZE stock from 4/30/2023 to 5/18/2026 was primarily driven by a -59.2% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.40 | 21.58 | -26.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 355 | 738 | 107.7% |
| P/S Multiple | 7.9 | 3.2 | -59.2% |
| Shares Outstanding (Mil) | 96 | 111 | -13.3% |
| Cumulative Contribution | -26.6% |
Market Drivers
4/30/2023 to 5/18/2026| Return | Correlation | |
|---|---|---|
| BRZE | -26.6% | |
| Market (SPY) | 84.5% | 41.8% |
| Sector (XLK) | 136.0% | 41.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BRZE Return | -17% | -65% | 95% | -21% | -18% | -39% | -78% |
| Peers Return | 22% | -46% | 72% | 25% | -7% | -15% | 12% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| BRZE Win Rate | 50% | 25% | 67% | 58% | 50% | 20% | |
| Peers Win Rate | 53% | 32% | 58% | 57% | 40% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| BRZE Max Drawdown | - | -70% | -27% | -50% | -49% | -54% | |
| Peers Max Drawdown | -25% | -55% | -25% | -28% | -43% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRM, ADBE, ORCL, HUBS, TWLO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/18/2026 (YTD)
How Low Can It Go
| Event | BRZE | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.9% | -6.7% |
| % Gain to Breakeven | 21.8% | 7.1% |
| Time to Breakeven | 16 days | 31 days |
In The Past
Braze's stock fell -2.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 2.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
In The Past
Braze's stock fell -2.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 2.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Braze (BRZE)
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.
AI Analysis | Feedback
1. Salesforce Marketing Cloud for the real-time, mobile customer journey.
2. HubSpot's marketing automation, but for deeply personalized, real-time, multi-channel experiences.
AI Analysis | Feedback
```html- Braze Customer Engagement Platform: A comprehensive platform providing interactions between consumers and brands worldwide.
- Braze Software Development Kits (SDKs): Tools for automated data ingestion and the delivery of mobile/web notifications and in-app messages.
- REST API: Enables importing or exporting data and triggering workflows between Braze and existing technology stacks.
- Partner Cohort Syncing: Allows brands to synchronize user segments directly from integrated partners.
- Segmentation and Segment Insights: Products used to define reusable consumer segments, analyze their performance, and understand contributing factors.
- Predictive Suite: Features that help identify groups of consumers with critical business value through predictive analytics.
- Canvas: An orchestration tool for designing multi-step, cross-channel customer journeys, such as onboarding and nurture campaigns.
- Campaigns: Functionality for sending targeted single-channel or multi-channel messages to specific user segments.
AI Analysis | Feedback
Major Customers of Braze (BRZE)
Braze, Inc. primarily sells its customer engagement platform to other companies (B2B) worldwide, enabling these brands to interact with their consumers. While Braze does not publicly disclose a definitive list of its "major" customers by revenue contribution, its platform is utilized by a wide range of well-known global brands. Based on publicly available information and case studies, some prominent customer companies include:
- Starbucks (SBUX)
- T-Mobile (TMUS)
- Pinterest (PINS)
- Etsy (ETSY)
- Gap (GPS)
- Domino's (DPZ)
- Warner Bros. Discovery (WBD) - for brands like Max (formerly HBO Max)
- Restaurant Brands International (RBI) - for brands like Burger King
AI Analysis | Feedback
- Amazon Web Services (AMZN)
AI Analysis | Feedback
Bill Magnuson, Chief Executive OfficerBill Magnuson is a co-founder of Braze, initially serving as CTO in 2011 before transitioning to CEO in 2017. Prior to co-founding Braze (formerly Appboy) after winning the TechCrunch Disrupt Hackathon with Jon Hyman in 2011, he worked as a software engineer at Google on App Inventor for Android. He also gained experience at Bridgewater Associates, a large hedge fund. Magnuson holds a Masters in EECS and a B.S. in Computer Science with a Minor in Economics from MIT.
Isabelle Winkles, Chief Financial Officer
Isabelle Winkles joined Braze as its first-ever Chief Financial Officer in January 2020, leading the Finance and Revenue Operations Functions. She was named the 2024 CFO of the Year. Before Braze, she served as Vice President of Finance at Cognizant and as Chief of Staff to the CFO. Winkles spent 18 years at Morgan Stanley, where her roles included investment banking and equity research, and she established and led new finance teams post-financial crisis. She earned a B.S. in Chemistry from MIT and an MBA from Harvard Business School.
Jon Hyman, Cofounder and Chief Technology Officer
Jon Hyman is a co-founder of Braze, overseeing the platform's technical systems, infrastructure, technical operations, security, and engineering teams. He co-founded Braze (formerly Appboy) in 2011 with Bill Magnuson after winning the TechCrunch Disrupt Hackathon. Before Braze, Hyman was a lead engineer at Bridgewater Associates. He is a Harvard alum.
Astha Malik, Chief Business Officer
Astha Malik leads all Go-To-Market Strategy and Operations, Global Marketing, and Growth at Braze, having joined in June 2022. She brings over 20 years of experience in building brands and driving growth. Her previous roles include Chief Operating Officer of VTEX and leadership positions at Zendesk, PagerDuty, and Sumo Logic. Malik holds a Masters of Science from Florida International University - Chapman Graduate School of Business.
Kevin Wang, Chief Product Officer
Kevin Wang is responsible for Braze's product roadmap, strategy, and the Product Management and UX teams. He joined Braze as a software engineer in 2012, contributing to the development of the initial product and the early engineering team. Prior to his time at Braze, Wang worked as a consultant at Accenture. He received his B.S. in Brain & Cognitive Sciences from MIT.
AI Analysis | Feedback
The public company Braze (BRZE) faces several key risks to its business operations and future growth.Key Risks for Braze (BRZE)
- Data Privacy, AI Regulation, and Cybersecurity Risks: As a customer engagement platform that processes vast amounts of sensitive consumer data, Braze is highly exposed to evolving global data privacy regulations (such as GDPR and various state-level US laws) and the inherent risks associated with Artificial Intelligence (AI) ethics, bias, and accuracy. New or evolving laws could necessitate costly changes to its platform and business model. Furthermore, the company faces significant cybersecurity threats; data breaches or privacy violations could lead to substantial legal liabilities, regulatory fines, and severe reputational damage, eroding customer trust.
- Intense Competition and Challenges to Achieving Consistent Profitability: Braze operates in a highly competitive market against established giants like Adobe and Salesforce, as well as agile, specialized platforms. This intense competition necessitates substantial investment in sales and marketing, which contributes to persistent operating losses despite strong revenue growth. While Braze has shown progress in achieving non-GAAP net income, it continues to report GAAP net losses, indicating a challenge in converting top-line growth into sustainable profitability at scale amidst market pressures. Economic downturns could also lead to businesses cutting marketing budgets, further impacting Braze's revenue growth and profitability.
- Rapid Advancements and Disruption from Generative AI: The swift evolution of AI, particularly generative AI, presents both opportunities and significant threats to Braze. While Braze is investing in AI capabilities through initiatives like BrazeAI and acquisitions, it faces increasing competition from both large tech companies and nimble startups specializing in AI-driven marketing solutions. If competitors develop more comprehensive and cost-effective AI-powered engagement solutions, or if large language model providers expand their functionalities, Braze could struggle to maintain its competitive edge and justify its premium market positioning. There is also a risk of generative AI "hollowing out" parts of its platform over time.
AI Analysis | Feedback
The clear emerging threat for Braze is the rapid advancement and integration of **Generative Artificial Intelligence (AI) and autonomous marketing agents** into competing platforms or as standalone solutions.
Braze's core offering involves providing tools for brands to manage customer data, segment audiences, personalize messages, and orchestrate multi-step, cross-channel customer journeys (e.g., using its "Canvas" tool). This largely relies on marketers using Braze's platform to design and execute these strategies.
However, the emergence of sophisticated generative AI models and intelligent automation has the potential to fundamentally disrupt this paradigm:
- Automated Content Creation: Generative AI can autonomously create highly personalized and contextually relevant marketing content (messages, creatives, calls-to-action) at scale, potentially reducing the manual effort currently required within platforms like Braze for content development.
- Autonomous Journey Design and Optimization: AI-driven systems could evolve to automatically design, adapt, and optimize entire customer journeys, dynamically adjusting based on real-time customer behavior and predictive analytics. This could diminish the need for marketers to manually "map out" journeys using tools like Braze's Canvas.
- Hyper-Personalization and Predictive Intelligence: AI can offer a deeper level of individualized personalization and predictive capabilities that go beyond current segmentation and propensity scoring, potentially making existing classification and personalization tools seem less advanced.
If major marketing cloud providers (e.g., Salesforce, Adobe) or new pure-play AI companies integrate these advanced, autonomous AI capabilities directly into their offerings, they could shift the value proposition from a "platform for marketers to build engagement" to an "intelligent agent that executes and optimizes engagement automatically." This could challenge Braze's current value proposition as a best-of-breed toolset, making its functionalities less central or unique if AI can perform these tasks more efficiently and effectively.
AI Analysis | Feedback
Braze (symbol: BRZE) operates in significant and growing addressable markets for its customer engagement platform and related services.
Customer Engagement Platform/Solutions Market
- The global total addressable market (TAM) for customer engagement platforms was valued at $16 billion, with Gartner projecting a nearly 10% annual growth rate for several years.
- Another estimate places Braze's total addressable market at $29 billion.
- The global customer engagement solutions market was estimated at $24.36 billion in 2025 and is projected to reach $30 billion by 2028.
- More recent projections indicate the global customer engagement solutions market was $29.39 billion in 2025 and is expected to grow to approximately $86.39 billion by 2035.
- In North America, the customer engagement solutions market was valued at $9.17 billion in 2025, with projections to reach around $28.04 billion by 2035. The U.S. customer engagement solution market held a dominant revenue share of 71.5% in North America in 2023.
- Another source estimates the global customer engagement solutions market size at $24.1 billion in 2024, poised to grow to $68.46 billion by 2033.
Marketing Automation Market
- The global marketing automation market was valued at $6.5 billion in 2024 and is projected to grow to $19.38 billion by 2033.
- Another report estimated the global marketing automation market size at $6.65 billion in 2024, with a projection to reach $15.58 billion by 2030.
- A different analysis projects the global marketing automation market to reach $81.01 billion by 2030, increasing from $47.02 billion in 2025.
- North America leads the marketing automation industry, holding the largest revenue share of 43.6% in 2024.
AI Analysis | Feedback
Braze (BRZE) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- New Customer Acquisition and Existing Customer Expansion: Braze consistently demonstrates growth in its customer base and the ability to expand contracts with existing clients. The company reported its strongest quarter of customer additions in three years, adding 106 net new customers sequentially in Q3 FY2026, reaching a total of 2,528. Furthermore, enterprise customers (those with over $500,000 Annual Recurring Revenue or ARR) surged by 29% year-over-year to 303 in Q3 FY2026, contributing 63% to total ARR. This growth is further supported by a dollar-based net retention rate of 109% in Q3, indicating that existing customers are increasing their spending with Braze.
- AI-Powered Product Innovation and Adoption: Braze is strategically investing in and leveraging artificial intelligence to enhance its customer engagement platform and create new revenue streams. The company's investments in advanced AI and machine learning, including Project Catalyst and the acquisition of OfferFit, are expected to be key growth drivers. AI capabilities like Braze AI Decisioning Studio contributed $4.8 million in revenue in a recent quarter. Braze plans to launch new AI products like Agent Console, an AI bot builder, which will be monetized through a credit-based model for each interaction, representing a new monetization strategy for AI-driven services.
- Global Market Expansion: Expanding its international footprint is another significant driver for Braze. Revenue from outside the US accounted for 44% of total revenue in Q3 FY2024, showing a consistent increase. Braze's international revenue grew to $267.0 million, highlighting the company's efforts to expand its global presence. The company continues to invest in headcount to support ongoing global expansion.
- Capitalizing on the Legacy Vendor Replacement Cycle: Braze is benefiting from a trend where enterprises are replacing older, legacy marketing clouds with more modern, AI-driven omnichannel customer engagement solutions. This "legacy vendor replacement cycle and consolidation trend" is a significant factor in the strength of Braze's enterprise business, as customers prefer Braze's AI-driven platform.
AI Analysis | Feedback
Share Repurchases
- Braze has reported minimal share repurchases over the last 3-5 years, with share buybacks totaling $0.00 in recent periods and approximately $165,000 in 2024.
Share Issuance
- The number of outstanding shares for Braze increased from approximately 90.25 million in 2021 to 107.627 million as of March 2026 (representing the end of fiscal year 2025/beginning of fiscal year 2026).
- Stock-based compensation has been a significant component of share issuance, rising from $7.54 million in fiscal year 2021 to $115.14 million in fiscal year 2025.
- Cash from financing activities peaked at $463.3 million during Q1 2022, likely reflecting capital raised through equity offerings following its 2021 IPO.
Outbound Investments
- Braze made payments for business acquisitions of $91.29 million in fiscal year 2025.
- In fiscal year 2023, the company recorded $16.32 million in payments for business acquisitions.
- Additionally, Braze reported significant "Purchases of Investments," which are typically financial investments, amounting to $217.98 million in fiscal year 2025, $248.06 million in fiscal year 2024, and $638.22 million in fiscal year 2023.
Capital Expenditures
- Capital expenditures amounted to $13.23 million in fiscal year 2025, $9.76 million in fiscal year 2024, and $15.45 million in fiscal year 2023.
- The primary focus of these capital expenditures is on funding long-term assets and infrastructure.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Braze Stock Up 20% in One Day, Now Is Not The Time To Buy The Stock | 03/26/2026 | |
| Is 10.5% Fall In Braze (BRZE) Stock A Buying Opportunity? | 03/11/2026 | |
| Braze Stock (+7.9%): Software Sector Rebounds on Fading AI Fears | 03/06/2026 | |
| BRZE Stock Falls -13% With A 9-day Losing Spree On Insider Selling | 01/07/2026 | |
| BRZE Stock Falls -12% In 8-day Spree On Q3 Revenue Shock | 01/06/2026 | |
| BRZE Stock Falls -9.8% In 7-Day Spree On Q3 Revenue Shock | 01/03/2026 | |
| Braze Earnings Notes | 12/28/2026 | |
| Braze Stock (+18%): Revenue Beat & Raised Guidance Ignites Rally | 12/11/2025 | |
| ARTICLES | ||
| Braze Stock To $16? | 03/26/2026 | |
| Braze Stock To $18? | 01/23/2026 | |
| BRZE Stock Falls -13% In 9-day Spree On Q3 Revenue Shock | 01/07/2026 | |
| Is Braze Stock Outperforming Its Rivals? | 12/11/2025 | |
| Braze Stock Tumbled 20% – Opportunity or Trap? | 10/17/2025 |
Trade Ideas
Select ideas related to BRZE.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | PLTR | Palantir Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 04102026 | ADSK | Autodesk | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.5% | 8.5% | 0.0% |
| 04102026 | BSY | Bentley Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.2% | 4.2% | 0.0% |
| 04102026 | ENPH | Enphase Energy | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.7% | 5.7% | 0.0% |
| 04102026 | BL | BlackLine | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 3.2% | 3.2% | -3.0% |
| 09302022 | BRZE | Braze | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -0.7% | 34.2% | -34.0% |
| 11302021 | BRZE | Braze | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -56.1% | -66.3% | -69.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 192.15 |
| Mkt Cap | 67.5 |
| Rev LTM | 14,877 |
| Op Inc LTM | 4,588 |
| FCF LTM | 753 |
| FCF 3Y Avg | 599 |
| CFO LTM | 5,736 |
| CFO 3Y Avg | 4,840 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.3% |
| Rev Chg 3Y Avg | 10.5% |
| Rev Chg Q | 20.8% |
| QoQ Delta Rev Chg LTM | 4.8% |
| Op Inc Chg LTM | 16.4% |
| Op Inc Chg 3Y Avg | 45.7% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 9.5% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 30.2% |
| CFO/Rev 3Y Avg | 27.5% |
| FCF/Rev LTM | 17.7% |
| FCF/Rev 3Y Avg | 16.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 67.5 |
| P/S | 4.2 |
| P/Op Inc | 22.4 |
| P/EBIT | 21.3 |
| P/E | 27.8 |
| P/CFO | 18.3 |
| Total Yield | 2.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.5% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.6% |
| 3M Rtn | 6.9% |
| 6M Rtn | -20.7% |
| 12M Rtn | -38.3% |
| 3Y Rtn | -22.3% |
| 1M Excs Rtn | -2.3% |
| 3M Excs Rtn | 1.7% |
| 6M Excs Rtn | -33.3% |
| 12M Excs Rtn | -62.4% |
| 3Y Excs Rtn | -97.1% |
Price Behavior
Price Behavior
| Market Price | $21.58 | |
| Market Cap ($ Bil) | 2.4 | |
| First Trading Date | 11/17/2021 | |
| Distance from 52W High | -41.5% | |
| 50 Days | 200 Days | |
| DMA Price | $21.45 | $25.69 |
| DMA Trend | down | up |
| Distance from DMA | 0.6% | -16.0% |
| 3M | 1YR | |
| Volatility | 81.1% | 64.9% |
| Downside Capture | 39.62 | 190.87 |
| Upside Capture | 102.98 | 74.29 |
| Correlation (SPY) | 3.2% | 17.7% |
BRZE Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.76 | 0.43 | 1.04 | 1.09 | 1.27 | 1.54 |
| Up Beta | -0.31 | -0.54 | -0.29 | 0.23 | 1.07 | 1.12 |
| Down Beta | -5.70 | -1.24 | -0.31 | -0.61 | 0.83 | 1.53 |
| Up Capture | 71% | 176% | 195% | 195% | 108% | 489% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 9 | 20 | 30 | 56 | 118 | 381 |
| Down Capture | 798% | 73% | 191% | 184% | 156% | 112% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 13 | 23 | 34 | 67 | 128 | 363 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRZE | |
|---|---|---|---|---|
| BRZE | -41.3% | 64.9% | -0.57 | - |
| Sector ETF (XLK) | 49.8% | 20.5% | 1.86 | 19.5% |
| Equity (SPY) | 26.7% | 12.1% | 1.66 | 18.0% |
| Gold (GLD) | 40.7% | 26.8% | 1.25 | -1.3% |
| Commodities (DBC) | 47.8% | 18.5% | 1.97 | -4.2% |
| Real Estate (VNQ) | 10.8% | 13.4% | 0.52 | 4.9% |
| Bitcoin (BTCUSD) | -23.9% | 41.9% | -0.54 | 11.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRZE | |
|---|---|---|---|---|
| BRZE | -25.5% | 64.3% | -0.25 | - |
| Sector ETF (XLK) | 21.8% | 24.8% | 0.78 | 50.9% |
| Equity (SPY) | 13.8% | 17.1% | 0.64 | 50.2% |
| Gold (GLD) | 19.5% | 17.9% | 0.88 | 4.3% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 8.2% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 35.9% |
| Bitcoin (BTCUSD) | 6.9% | 55.9% | 0.34 | 28.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRZE | |
|---|---|---|---|---|
| BRZE | -13.7% | 64.3% | -0.25 | - |
| Sector ETF (XLK) | 24.9% | 24.4% | 0.92 | 50.9% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 50.2% |
| Gold (GLD) | 13.2% | 15.9% | 0.69 | 4.3% |
| Commodities (DBC) | 8.6% | 17.9% | 0.39 | 8.2% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 35.9% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 28.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/24/2026 | 19.9% | 31.0% | 24.6% |
| 12/9/2025 | 18.1% | 10.7% | -1.9% |
| 9/4/2025 | 13.6% | 11.6% | 2.7% |
| 6/5/2025 | -17.6% | -21.1% | -21.1% |
| 3/27/2025 | 2.2% | -10.8% | -14.4% |
| 12/9/2024 | -2.0% | 7.1% | 2.0% |
| 9/5/2024 | -19.4% | -21.7% | -29.6% |
| 6/6/2024 | -0.4% | -2.1% | 3.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 7 |
| # Negative | 9 | 10 | 10 |
| Median Positive | 14.9% | 12.9% | 6.3% |
| Median Negative | -4.8% | -11.7% | -14.3% |
| Max Positive | 19.9% | 31.0% | 43.5% |
| Max Negative | -19.4% | -21.7% | -29.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 01/31/2026 | 03/25/2026 | 10-K |
| 10/31/2025 | 12/10/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/31/2025 | 10-K |
| 10/31/2024 | 12/10/2024 | 10-Q |
| 07/31/2024 | 09/06/2024 | 10-Q |
| 04/30/2024 | 06/07/2024 | 10-Q |
| 01/31/2024 | 04/01/2024 | 10-K |
| 10/31/2023 | 12/07/2023 | 10-Q |
| 07/31/2023 | 09/08/2023 | 10-Q |
| 04/30/2023 | 06/09/2023 | 10-Q |
| 01/31/2023 | 03/31/2023 | 10-K |
| 10/31/2022 | 12/14/2022 | 10-Q |
| 07/31/2022 | 09/13/2022 | 10-Q |
| 04/30/2022 | 06/14/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2026 Earnings Reported 3/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Revenue | 204.50 Mil | 205.00 Mil | 205.50 Mil | 3.5% | Higher New | Guidance: 198.00 Mil for Q4 2026 | |
| Q1 2027 Non-GAAP operating income | 10.00 Mil | 10.50 Mil | 11.00 Mil | -16.0% | Lower New | Guidance: 12.50 Mil for Q4 2026 | |
| Q1 2027 Non-GAAP net income | 11.00 Mil | 11.50 Mil | 12.00 Mil | -25.8% | Lower New | Guidance: 15.50 Mil for Q4 2026 | |
| Q1 2027 Non-GAAP net income per share, diluted | 0.1 | 0.1 | 0.11 | -22.2% | Lower New | Guidance: 0.14 for Q4 2026 | |
| 2027 Revenue | 884.00 Mil | 886.50 Mil | 889.00 Mil | 21.3% | Higher New | Guidance: 731.00 Mil for 2026 | |
| 2027 Non-GAAP operating income | 69.00 Mil | 71.00 Mil | 73.00 Mil | 167.9% | Higher New | Guidance: 26.50 Mil for 2026 | |
| 2027 Non-GAAP net income | 69.00 Mil | 71.00 Mil | 73.00 Mil | 52.7% | Higher New | Guidance: 46.50 Mil for 2026 | |
| 2027 Non-GAAP net income per share, diluted | 0.61 | 0.63 | 0.65 | 48.2% | Higher New | Guidance: 0.42 for 2026 | |
Prior: Q3 2026 Earnings Reported 12/9/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Revenue | 197.50 Mil | 198.00 Mil | 198.50 Mil | ||||
| Q4 2026 Non-GAAP operating income | 12.00 Mil | 12.50 Mil | 13.00 Mil | ||||
| Q4 2026 Non-GAAP net income | 15.00 Mil | 15.50 Mil | 16.00 Mil | ||||
| Q4 2026 Non-GAAP net income per share, diluted | 0.13 | 0.14 | 0.14 | ||||
| 2026 Revenue | 730.50 Mil | 731.00 Mil | 731.50 Mil | 1.7% | Raised | Guidance: 718.50 Mil for 2026 | |
| 2026 Non-GAAP operating income | 26.00 Mil | 26.50 Mil | 27.00 Mil | 6.0% | Raised | Guidance: 25.00 Mil for 2026 | |
| 2026 Non-GAAP net income | 46.00 Mil | 46.50 Mil | 47.00 Mil | 1.1% | Raised | Guidance: 46.00 Mil for 2026 | |
| 2026 Non-GAAP net income per share, diluted | 0.42 | 0.42 | 0.43 | 2.4% | Raised | Guidance: 0.41 for 2026 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wiseman, Susan | General Counsel | Direct | Sell | 4132026 | 20.29 | 35,000 | 710,150 | 4,249,213 | Form |
| 2 | Winkles, Isabelle | Chief Financial Officer | Direct | Sell | 4082026 | 23.31 | 8,274 | 192,867 | 10,781,295 | Form |
| 3 | Wiseman, Susan | General Counsel | Direct | Sell | 2202026 | 17.03 | 4,167 | 70,964 | 3,573,984 | Form |
| 4 | Malik, Pankaj | Chief Accounting Officer | Direct | Sell | 2202026 | 16.93 | 2,893 | 48,978 | 857,995 | Form |
| 5 | Hyman, Jonathan | Chief Technology Officer | Direct | Sell | 2202026 | 16.93 | 7,391 | 125,130 | 28,661,356 | Form |
Industry Resources
| Technology Hardware, Storage & Peripherals Resources |
| The Verge |
| TechRadar |
| Tom’s Hardware |
| PCMag |
| CNET |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.