$BRZE (+3.37%) Braze Inc. reported earnings
Q3 FY2025 results ended on October 31st 2024
- Revenue: $152.1M, +22.7% YoY
- Net Loss: $27.9M vs $30.7M loss in Q3 2023
- Non-GAAP Net Income: $2.5M vs $4.5M loss in Q3 2023
- Total Customers: 2,211, up from 2,011 YoY
CEO Bill Magnuson: "We continued to execute in the third quarter, delivering strong revenue growth and operating leverage while maintaining steady investment in our product, our ecosystem, and our go-to-market motion to continue positioning Braze as the leading cross-channel customer engagement platform."
🌱Revenue & Growth
- Subscription Revenue: $146.3M, +23.6% YoY
- Professional Services Revenue: $5.8M, +3.6% YoY
- Dollar-based Net Retention: 113% vs 118% YoY
- Enterprise Customers ($500k+ ARR): 234 vs 189 YoY
- Remaining Performance Obligations: $716.8M
💰Profits & Financials
- GAAP Gross Margin: 69.8% vs 70.7% YoY
- Non-GAAP Gross Margin: 70.5% vs 71.4% YoY
- Operating Loss: $32.6M vs $35.1M YoY
- Free Cash Flow: -$14.2M vs -$5.9M YoY
- Cash & Investments: $493.1M
📌Business Highlights
- Hosted Forge 2024 conference with over 1,000 attendees
- Announced BrazeAI agent (Project Catalyst) in development
- Expanded channel offerings to include LINE and RCS Business
- Named Leader in 2024 Gartner Magic Quadrant
- Notable new customers: Hugo Boss, LUSH Cosmetics, WeatherBug
🔮Future Outlook
- Q4 Revenue: $155.0M-$156.0M
- Q4 Non-GAAP Operating Income: $2.0M-$3.0M
- Full Year Revenue: $588.0M-$589.0M
- Full Year Non-GAAP Operating Loss: $5.0M-$6.0M
- Continuing focus on AI-powered customer engagement innovations
