Braze, Inc. operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, that allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; Braze Cloud Data Ingestion that offers direct connections to cloud services and data warehouses, marketing, product, and growth teams; Braze Currents to stream data in real time; and Snowflake Data Sharing to track and store data. It also provides segmentation that define reusable segments of consumers based upon attributes, events, or predictive propensity scores; segment insights, which allows customers to analyze how segments are performing relative to each other across a set of pre-selected key performance indicators; and predictive suite that allows customers to identify groups of consumers that are of critical business value. In addition, the company offers Canvas, an orchestration tool; campaigns, which allows customers; event and API triggering; marketing pressure management; and reporting and analytics, as well as content generation and quality assurance platform, content management, catalogs, templating language, connected content, and intelligent timing and channel products. Further, it provides decisioning studio; agent console; liquid assistant and AI copywriter; personalized variant; AI item recommendations; and MCP Servers. The company was formerly known as Appboy, Inc. and changed its name to Braze, Inc. in November 2017. Braze, Inc. was incorporated in 2011 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $738M | $-125M | $-131M | $58M | -21.0% | 24.4% | 26.6% |
| 2025 | $593M | $-112M | $-104M | $20M | -21.8% | 25.8% | -19.7% |
| 2024 | $472M | $-138M | $-129M | $-6M | -29.1% | 32.7% | -7.1% |
| 2023 | $355M | $-144M | $-139M | $-39M | -31.2% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 355.43 | 471.80 | 593.41 | 738.18 |
| Operating Revenue | - | 355.43 | 471.80 | 593.41 | 738.18 |
| Cost Of Revenue | - | 115.82 | 147.53 | 183.19 | 242.52 |
| Gross Profit | - | 239.61 | 324.27 | 410.22 | 495.66 |
| Operating Expense | - | 387.75 | 468.96 | 532.38 | 640.41 |
| Research And Development | - | 97.29 | 119.86 | 133.97 | 167.14 |
| Selling General And Administration | - | 290.46 | 349.10 | 398.41 | 473.27 |
| Total Expenses | - | 503.57 | 616.49 | 715.57 | 882.94 |
| Operating Income | - | -148.14 | -144.69 | -122.16 | -144.76 |
| Total Operating Income As Reported | - | -148.14 | -144.69 | -122.16 | -144.76 |
| EBITDA | - | -143.52 | -137.73 | -112.04 | -125.43 |
| Normalized EBITDA | - | -143.52 | -137.73 | -112.04 | -125.43 |
| EBIT | - | -148.14 | -144.69 | -122.16 | -144.76 |
| Interest Income | 0.51 | - | - | - | - |
| Interest Expense | 0.37 | - | - | - | - |
| Net Interest Income | 0.14 | - | - | - | - |
| Other Non Operating Income Expenses | - | 7.98 | 16.22 | 21.56 | 16.60 |
| Other Income Expense | - | 7.98 | 16.22 | 21.56 | 16.60 |
| Interest Income Non Operating | 0.51 | - | - | - | - |
| Interest Expense Non Operating | 0.37 | - | - | - | - |
| Net Non Operating Interest Income Expense | 0.14 | - | - | - | - |
| Pretax Income | - | -140.16 | -128.47 | -100.60 | -128.16 |
| Tax Provision | - | 0.58 | 1.96 | 3.44 | 2.62 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -140.75 | -130.43 | -104.05 | -130.79 |
| Net Income From Continuing And Discontinued Operation | - | -138.97 | -129.17 | -103.74 | -131.29 |
| Net Income From Continuing Operation Net Minority Interest | - | -138.97 | -129.17 | -103.74 | -131.29 |
| Net Income | - | -138.97 | -129.17 | -103.74 | -131.29 |
| Net Income Common Stockholders | - | -138.97 | -129.17 | -103.74 | -131.29 |
| Net Income Including Noncontrolling Interests | - | -140.75 | -130.43 | -104.05 | -130.79 |
| Normalized Income | - | -138.97 | -129.17 | -103.74 | -131.29 |
| Diluted NI Availto Com Stockholders | - | -138.97 | -129.17 | -103.74 | -131.29 |
| Basic Average Shares | - | 94.57 | 98.10 | 102.19 | 107.91 |
| Diluted Average Shares | - | 94.57 | 98.10 | 102.19 | 107.91 |
| Reconciled Depreciation | - | 4.62 | 6.96 | 10.12 | 19.33 |
| Reconciled Cost Of Revenue | - | 115.82 | 147.53 | 183.19 | 242.52 |
| Minority Interests | - | 1.78 | 1.26 | 0.30 | -0.50 |
| General And Administrative Expense | - | 88.77 | 101.98 | 116.09 | 146.26 |
| Other Gand A | - | 88.77 | 101.98 | 116.09 | 146.26 |
| Selling And Marketing Expense | - | 201.68 | 247.12 | 282.32 | 327.01 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Braze, Inc.this co. | BRZE | $2.6B | -19.85 | 4.18 | -21.0% | -20.45 |
| Vistance Networks, Inc. | VISN | $2.8B | 1.23 | -2.79 | -227.4% | 30.18 |
| Workiva Inc. | WK | $2.8B | -105.19 | -506.37 | 481.4% | 2375.17 |
| Freshworks Inc. | FRSH | $2.7B | 14.43 | 2.57 | 17.8% | 53.81 |
| StoneCo Ltd. | STNE | $2.6B | 1.13 | 0.24 |
| - |
| - |
| - |
| - |
| 21.1% |
| 2.17 |
| Quantum Computing Inc. | QUBT | $2.5B | -135.15 | 1.58 | -1.2% | -130.81 |
| Agilysys, Inc. | AGYS | $2.5B | 64.93 | 7.71 | 11.9% | 40.93 |
| PagSeguro Digital Ltd. | PAGS | $2.5B | 1.16 | 0.17 | 14.5% | 5.00 |
| PDF Solutions, Inc. | PDFS | $2.4B | -3688.94 | 8.71 | -0.2% | 129.30 |
| Peer Median | - | 1.15 | 0.91 | 13.2% | 35.55 | |