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Braze Inc. Class A Common Stock Earnings Recaps

BRZE Information Technology 2 recaps
Next earnings: December 8, 2026 (estimated) · full calendar
Q2 2027 Sep 10, 2026

Braze shares fell 25.8% after earnings, indicating investors were disappointed despite reported revenue growth and raised guidance. The transcript points to concerns around still-moderating growth—revenue increased 26% year over year—and the early, not-yet-material monetization of AI, which may have outweighed improving margins and cash flow.

Key takeaways
  • Fiscal Q2 revenue was $227 million, up 26% year over year and 8% sequentially.
  • Large-customer dollar-based net retention improved 100 basis points to 112%, while customers spending at least $500,000 annually rose 28% year over year.
  • Paid adoption of Braze AI tools reached roughly one-third of the large-customer cohort, increasing about 900 basis points from Q1; management acknowledged AI monetization remains early.
  • Non-GAAP operating margin improved by more than 600 basis points year over year, and free cash flow reached a record second-quarter $22 million.
  • Management raised third-quarter and full-year revenue guidance, as well as full-year operating income guidance, while targeting at least 400 basis points of operating-margin improvement.
Full recap
Q4 2026 Mar 25, 2026

Braze, Inc. delivered a robust performance in Q4 FY2026, achieving $205 million in revenue—growing 28% year-over-year and further validating its leadership in customer engagement solutions.

Key takeaways
  • Q4 revenue surged 28% year-over-year; organic growth accelerated for the third consecutive quarter.
  • Trailing twelve-month dollar-based net retention improved to 109%, reflecting strong customer commitment.
  • Annual recurring revenue surpassed $800 million, driven by significant demand for Braze's high ROI platform.
  • Q4 bookings increased over 50% year-over-year, with strong gains in both new and expanded customer engagements.
  • Initiated share repurchase program, underscoring long-term confidence in growth and financial stability.
Full recap

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