Braze Q1 revenue rises on strong AI platform demand
Braze Q1 revenue rises on strong AI platform demand
Overview
Customer engagement platform's fiscal Q1 revenue rose 30% yr/yr, beating analyst expectations
GAAP net loss per share narrowed to $0.24 from $0.34 yr/yr
Company attributed growth to strong demand for its AI-powered platform and customer expansion
Outlook
Braze sees Q2 revenue between $219.5 mln and $220.5 mln
Company expects full-year revenue of $895.0 mln to $899.0 mln
Braze projects full-year non-GAAP net income per share, diluted, of $0.61 to $0.65
Result Drivers
CUSTOMER GROWTH - Revenue growth was driven primarily by new customers, upsells, and renewals
AI PLATFORM DEMAND - Strong demand for AI-powered customer engagement platform contributed to growth, per CEO Bill Magnuson
CUSTOMER EXPANSIONS - Notable new business wins and expansions among existing customers supported results
Company press release: ID:nBw5Mrw0Qa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Beat | $211 mln | $205.18 mln (21 Analysts) |
Q1 EPS |
| -$0.24 |
|
Q1 Net Income |
| -$25.49 mln |
|
Q1 Gross Profit |
| $138.66 mln |
|
Q1 Operating Income |
| -$27.51 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Braze Inc is $31.00, about 21.8% above its May 26 closing price of $25.45
The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 33 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)