Customer engagement platform Braze Q2 revenue beats estimates on customer growth
Customer engagement platform Braze Q2 revenue beats estimates on customer growth
Overview
Customer engagement platform's fiscal Q2 rev grew 26% yr/yr, beating analyst expectations
Adjusted EPS for fiscal Q2 beat analyst expectations
Growth driven by new customers, upsells, and renewals
Outlook
Braze sees Q3 revenue between $229 mln and $230 mln
Company expects full-year revenue of $910 mln to $913 mln
Braze forecasts full-year non-GAAP net income per share, diluted, of $0.64 to $0.65
Result Drivers
CUSTOMER GROWTH AND EXPANSION - Revenue growth driven by new customers, upsells, and renewals
AI SOLUTIONS ADOPTION - Accelerating adoption of BrazeAI products supported business momentum, per CEO Bill Magnuson
CUSTOMER RETENTION - Improved dollar-based net retention rates reflected increased spending by existing customers
Company press release: ID:nBw4ht1Yxa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $227.23 mln | $219.88 mln (21 Analysts) |
Q2 Adjusted EPS | Beat | $0.19 | $0.15 (21 Analysts) |
Q2 Loss Per Share |
| $0.17 |
|
Q2 Net Loss Attributable |
| $18.85 mln |
|
Q2 Gross Profit |
| $151.86 mln |
|
Q2 Operating Income |
| -$18.12 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 $35.00, about 9.5% above its September 4 closing price of $31.96
The stock recently traded at 39 times the next 12-month earnings vs. a P/E of 35 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)