Braze leaps on upbeat forecast

Braze

08/06/2023 22:52

** Shares of customer engagement platform Braze  BRZE.O  up
10.5% at $37.50 in extended trading
    ** Co forecasts smaller annual loss than prior estimate,
betting on its strong customer base, renewals, and gaining new
subscriptions
    ** Now expects full-year adjusted loss per share of 51 cents
to 55 cents, compared to prior projection of a loss between 55
cents to 59 cents
    ** Also sees Q2 revenue of $108 mln to $109 mln, above Wall
Street estimate of $105.7 mln, per Refinitiv data
    ** BRZE forecasts smaller-than-expected Q2 adjusted loss per
share
    ** Co beats Q1 sales expectations and reports
smaller-than-expected loss
    ** Up to Thursday's close, stock had risen 24.4% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))