Track market-moving stories before they get noisy

Posted by Defense World Staff on Jul 26th, 2026

Braze, Inc. (NASDAQ:BRZE – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $21.22, but opened at $21.98. Braze shares last traded at $21.5620, with a volume of 52,649 shares changing hands.

Wall Street Analysts Forecast Growth BRZE has been the topic of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target on shares of Braze in a research report on Thursday, May 28th. Canaccord Genuity Group reduced their price objective on Braze from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 price objective on shares of Braze in a research report on Thursday, May 28th. UBS Group restated an “outperform” rating on shares of Braze in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Braze from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.76.

View Our Latest Stock Report on Braze

Braze Stock Up 2.5% The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -19.43 and a beta of 0.85. The business has a 50-day moving average of $23.12 and a two-hundred day moving average of $22.16.

Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.The firm had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $205.19 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. Braze has set its Q2 2027 guidance at 0.150-0.160 EPS. Equities analysts predict that Braze, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows A number of large investors have recently modified their holdings of BRZE. Vanguard Group Inc. increased its holdings in Braze by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock valued at $337,793,000 after buying an additional 892,635 shares during the period. Dana Investment Advisors Inc. bought a new position in shares of Braze during the 4th quarter worth about $1,980,000. SG Americas Securities LLC lifted its holdings in shares of Braze by 5,412.5% during the 4th quarter. SG Americas Securities LLC now owns 289,790 shares of the company’s stock worth $9,937,000 after acquiring an additional 284,533 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of Braze by 8.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,233,143 shares of the company’s stock valued at $42,284,000 after acquiring an additional 98,854 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Braze by 232,716.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,111 shares of the company’s stock valued at $3,433,000 after acquiring an additional 100,068 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile (Get Free Report)

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

Further Reading Five stocks we like better than Braze Telecom Earnings Reveal a Sector That Finally Looks Healthier Defense Earnings Show Readiness Now and Modernization Ahead Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off MarketBeat Week in Review – 07/20- 07/24 Receive News & Ratings for Braze Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Braze and related companies with MarketBeat.com's FREE daily email newsletter.

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Braze (BRZE +7.41%) shares jumped on Friday, finishing the day up 7.4%. The S&P 500 and the Nasdaq Composite finished down 0.7% and 0.5%, respectively.

The customer-engagement software company's stock is getting a lift from two main catalysts: a "Buy" rating from Goldman Sachs and a broader rebound in software stocks.

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Goldman Sachs sees Braze as a winner On June 24, Goldman Sachs analyst Callie Valenti assumed coverage of Braze with a Buy rating and a $34 price target -- roughly 77% above where the stock had been trading.

Software stocks have been under pressure Braze stock is down about 40% over the past six months as part of a larger sell-off in software stocks. The market has been fearful that AI models from OpenAI and Anthropic could simply replace what software stocks like Braze do. That fear is easing.

Source: Getty Images

Braze's growth is strong, but profitability remains elusive In its most recent quarter, Braze posted revenue of $211 million, up 30% year over year, alongside record free cash flow and a full-year guidance raise.

Unfortunately, the company continues to struggle to turn a profit, losing just shy of $27 million last quarter. If the company can reverse that, Braze stock could take off.

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Braze and Goldman Sachs Group. The Motley Fool has a disclosure policy.

📌 Top story -- scroll down for more updates

Today’s Evening News: Netflix Charges More, Bets Bigger 5:51 pm

Netflix (NFLX 0.65%) is raising prices across all tiers, with plans increasing by $1 to $2 per month and add-on member fees also climbing. The move follows a January 2025 hike and supports a growing content budget -- expected to hit $20 billion in 2026 -- as the company expands into live events and new formats. Management is betting that higher pricing and a projected surge in ad revenue will help drive 2026 revenue toward $50 billion-plus. Shares were up 1.13% on Thursday.

Commanding of the remote: In the Moneyball Hidden Gems Primary database, Netflix holds a Superscore of 89 and an 80 for Command, reflecting durable competitive advantages and steady intellectual property (IP)-driven growth. Translation: pricing power -- and room to exercise it. Ads enter the spotlight: Netflix expects ad revenue to roughly double in 2026, shifting part of the growth story beyond subscriptions. A New Trend in AI is Emerging: Efficiency 5:18 pm

The approach to AI so far can be best described as using brute force to make things happen. It’s been effective so far, but the approach starts to run into problems when the numbers get really big. Thankfully, some new developments in AI could help alleviate that challenge. Matt, Jon, and Tyler discuss how Google and Arm Holdings (ARM +9.89%) are advancing AI efficiency. Plus, social media’s bad week in court and the mailbag.

Tyler Crowe, Jon Quast, and Matt Frankel discuss:

Meta and Alphabet losing watershed social media cases Is a “tobacco moment” as bad as it sounds? Advancements in AI efficiency Mailbag: Auto invest or buy the dip? 🎧 The Motley Fool Money podcast drops daily after the bell! Listen on Apple Podcasts, Spotify, or other podcast platforms—or check out the Fool's podcast feed.

Closing Bell 4:06 pm

Stocks fell as oil surged back above $100, with the Nasdaq nearing correction territory and the Dow dropping about 470 points. Rising crude prices tied to Middle East tensions pushed yields higher and pressured equities, especially tech. Mixed signals from U.S. and Iranian officials have kept markets volatile, with investors increasingly pricing in a prolonged conflict and sticky inflation risk tied to energy.

Oil’s domino effect: Higher crude feeds inflation fears, lifting bond yields and tightening financial conditions—bad news for growth stocks. Markets betting on a bluff: Some investors think harsh rhetoric masks progress in talks—but if wrong, energy and volatility could climb further. ADMA Craters On Revenue Doubts 3:45 pm — ADMA -16.77%

By Seth Jayson
Team Rule Breakers

Not a boring week. A short seller showed up on Tuesday alleging that ADMA Biologics' (ADMA 0.90%) revenue growth is basically an inventory-stuffing mirage, the stock cratered something like 47% in four days, and the company’s response amounted to “that report is speculative and wrong” without getting into specifics — which didn’t quench the fire. Cantor Fitzgerald downgraded it the next morning. The actual Q4 numbers from last month were fine, but nobody cares about last quarter’s numbers when someone’s questioning whether the numbers are real.

Read the report here, if you’d like.

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Adtech Darling AppLovin Keeps Falling 3:01 pm — APP -10.15%

AppLovin (APP +3.20%) fell nearly 10% today, extending a six-month slide of roughly 38%, with no company-specific news driving the move. Instead, macro pressures—including rising recession odds tied to Middle East conflict and sticky inflation concerns—are weighing on high-growth software names. At the same time, investors remain uneasy about how artificial intelligence could reshape the adtech landscape, even after AppLovin posted strong recent results with rapid revenue and profit growth.

Macro Overhang Builds: Rising oil prices and inflation fears are pressuring risk appetite, particularly in higher-multiple tech stocks. AI Uncertainty Lingers: Despite strong execution, investors are still debating whether AI will enhance or erode AppLovin’s competitive position.

Coupang Leans Into AI With Nvidia 2:46 pm — CPNG -3.70%, NVDA -3.70%

★ CPNG is recommended in Stock Advisor (Team RB) and in Rule Breakers
★ NVDA is recommended in Hidden Gems and in Stock Advisor (Team RB) as a Foundational Stock

Coupang (CPNG 1.59%) is partnering with Nvidia (NVDA +0.14%) to build an “AI factory” aimed at optimizing its logistics and e-commerce operations. The effort centers on Coupang Intelligent Cloud, where AI is already improving efficiency—chip utilization has reportedly jumped from 65% to 95%. While shares initially rose on the news, they’ve slipped back below $20 amid broader market volatility.

Efficiency Engine: AI-driven logistics could lower costs and speed delivery, key advantages in a scale-driven e-commerce model. Margin Story Emerging: With core EBITDA margins already near 8%, incremental AI gains could push profitability into double-digit territory over time.

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Seth Jayson: EPAC is Solid, But Not Stirring 2:35 pm — EPAC -8.03%

By Seth Jayson
Team Rule Breakers

Earnings week for the hydraulic tool people. Enerpac (EPAC +0.01%) dropped Q2 numbers last night and held its call this morning — product sales grew 6% organically, which is their best showing in ten quarters, while the services business in Europe continued to shrink and needed a restructuring charge to get costs in line. Adjusted earnings came in flat year-over-year at 39 cents, basically matching estimates, and revenue beat modestly. They narrowed full-year guidance instead of raising it, which tells you management is being careful rather than exuberant. Not a quarter that changes anyone’s thesis. The interesting bit is a new five-year North Sea oil and gas contract and a small acquisition that fills a product gap, both of which are future-looking. The stock sits well below its 52-week high, so the market has not been excited for a while now.

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Beam Has Good News, Raises Doubts 1:30 pm -- BEAM +2.6%

By Karl Thiel
Team Rule Breakers

Beam Therapeutics (BEAM 1.48%) has been on the move recently, and today, it reported some encouraging phase 1/2 data for its drug BEAM-302 in alpha-1 antitrypsin deficiency (AATD). The data was optimistic enough that the company is moving directly into a pivotal trial later this year. If it gets an accelerated approval pathway, it could be ready for an FDA submission as soon as late 2027.

That's seemingly good news, but the stock actually ticked slightly lower on the announcement. Why is that? It most likely comes down to two main reasons.

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Today's Lunchtime News 1:40 pm -- AAPL +0.7%

Apple (AAPL 1.93%) added four new partners -- Bosch, Cirrus Logic (CRUS +0.56%), TDK, and Qnity Electronics (Q +1.98%) -- to its American Manufacturing Program Thursday, committing $400 million through 2030 to manufacture components domestically. The expansion is part of Apple's broader $600 billion, four-year pledge to U.S. manufacturing announced alongside President Trump in August 2025.

What gets made where: TDK will manufacture iPhone camera stabilization sensors in the U.S. for the first time. Bosch will produce chips for crash detection at Taiwan Semiconductor's (TSM +1.03%) facility in Washington state. Cirrus Logic will develop Face ID semiconductors at GlobalFoundries' (GFS +1.97%) New York fab. Apple has already sourced more than 20 billion U.S.-made chips from 24 factories across 12 states since the program launched. Tariff context: Apple has absorbed roughly $3.3 billion in tariff costs since Trump's trade policies took effect, with CEO Tim Cook choosing to eat the expenses rather than raise prices. Last month the Supreme Court struck down a significant portion of Trump's tariff agenda, which could reshape Apple's cost outlook.

Generative AI Reshapes the C-Suite 12:30 pm -- KO -0.1%, WMT -0.2%

The rise of generative AI is redrawing the American C-suite as veteran leaders step aside for tech-native successors. Coca-Cola (KO 0.37%) CEO James Quincey announced his departure Thursday, citing a "huge new shift" in technology that requires a "completely new transformation." This follows a similar move by former Walmart (WMT 0.07%) chief Doug McMillon, who admitted he "couldn't finish" the massive AI transition required for the next decade of retail. As Quincey hands the reins to COO Henrique Braun and Walmart elevates John Furner, investors are seeing a clear signal: the complexity of "agentic commerce" is now a primary driver of corporate succession planning.

The Agility Mandate: Outgoing leaders are explicitly prioritizing "energy" and "speed" over tenure, signaling that traditional retail and beverage moats are no longer enough to survive the AI wave. Symbolic Tech Pivots: Walmart’s recent move to the Nasdaq and Coke's focus on AI-driven supply chains suggest these legacy giants are desperate to be valued as technology platforms rather than just consumer staples.

Mortgage Rates Hit Six-Month High 12:35 pm

U.S. mortgage rates surged to a six-month high of 6.38% this week, according to Freddie Mac. The four-week climb reflects the inflationary pressure of the Middle East conflict, which has driven oil prices up 30% since late February and sent Treasury yields higher. This spike directly undercuts the Trump administration's efforts to lower costs via expanded mortgage-backed security purchases by Fannie Mae. With the critical spring selling season beginning, the sudden reversal from sub-6% rates threatens to stall volume for major homebuilders and lenders as affordability metrics deteriorate under the weight of "war-premium" inflation.

The Yield Curve Connection: Because mortgage rates track the 10-year Treasury, the "higher-for-longer" narrative fueled by energy costs is effectively neutralizing government attempts to subsidize the housing market. Spring Season Cooling: Investors in residential REITs and mortgage originators should watch for a significant drop in application volumes as potential buyers are priced out by the 16-basis-point jump in just seven days. Costco's Energy Drink Jolts Celsius Shares 15% 11:15 am -- COST +0.8%, CELH -0.2%

By Sanmeet Deo
Team Rule Breakers

The beverage market recently experienced a significant jolt as Costco (COST +0.17%) introduced its Kirkland Signature energy drink, a move that sent Celsius Holdings (CELH +1.13%) shares tumbling roughly 15% this week. By offering a 24-pack of its 200mg-caffeine sparkling drink for $16.99 -- a staggering 55% discount compared to Celsius's $37.99 -- Costco is directly targeting "inflation-weary" shoppers. This "look-alike" strategy deliberately mimics Celsius's aesthetic, fruit-forward flavors and caffeine profile to capture immediate attention.

Historically, private-label brands have successfully disrupted commodity-driven beverage categories like bottled water, milk, and basic juices, where price is the primary differentiator and brand attachment is low. However, the energy drink sector is a different beast, defined by intense brand loyalty, "lifestyle" positioning, and a "fake health effect" that consumers are willing to pay a premium for.

10:35 am -- GOOG -1.3%, META -4.2%

Alphabet (GOOG +0.87%) and Meta Platforms (META 0.37%) faced a sharp reversal Thursday after a Los Angeles jury found YouTube and Facebook liable for harm to a minor. The $3 million compensatory damage award marks a first-of-its-kind verdict, potentially stripping away the broad legal immunity social media platforms have historically enjoyed. This legal reckoning comes at a vulnerable time for the sector, as investors weigh the cost of increased moderation and potential algorithm overhauls against the backdrop of an already volatile market.

The Liability Floodgates: This ruling sets a precedent that could trigger thousands of similar lawsuits, transforming platform safety from a PR concern into a recurring balance sheet liability.

Algorithmic Accountability: If courts continue to hold platforms responsible for automated content delivery, both firms may be forced to choose between lower user engagement and escalating legal settlements.

Top of the Morning 10:25 am

By Emily Flippen, CFA
Team Rule Breakers

As tensions continue to rise in the Middle East this week, investors may be asking fair questions about what the second-order impacts may be from the war in Iran. While no one can claim to know what will happen with the conflict, one thing is clear: with Brent crude swinging between $100 and $120 a barrel over the past few weeks, gas prices are likely to stay high for the foreseeable future. And high gas prices have sizable implications for more than just energy companies.

9:40 am -- BRZE +4.4%

By Tim Beyers
Team Rule Breakers

Shares of Braze (BRZE +0.67%) soared close to 20% yesterday on better-than-expected top line results and a promising forecast. And yet more improvements are needed if this company is to deliver for shareholders over the long term.

Let's start with the good news. Revenue jumped 27.9% to $205.2 million, beating expectations of $198.22 million, according to S&P Global Market Intelligence. Cash from operations roughly doubled over the full fiscal year, to $71.4 million. Braze is starting to build some financial muscle.

Trouble is there's a lot more work to do. Building a real-time messaging platform for marketing and customer engagement isn't cheap. Operating losses widened in both the fourth quarter and the full fiscal year.

Rising R&D expense (+34%) contributed heavily to those losses. Getting customers to commit was costly too. Braze earned $3.24 in fresh revenue for every incremental $1 of investment in sales and marketing in fiscal 2026, down 6.4% from $3.46 in fiscal 2025.

Reversing that trend permanently is key to generating the cash flows that will power the returns shareholders crave.

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Opening Bell 9:35 am

The Dow fell 233 points Thursday as Brent crude futures jumped 4% to over $106, erasing recent optimism. Market volatility spiked after President Trump warned Iranian negotiators to "get serious" before a looming five-day deadline, stating there would be "no turning back." While the S&P 500 and Nasdaq shed 0.8% and 1.2%, respectively, Gulf nations issued a joint condemnation of strikes on energy infrastructure, further tightening global supply. Investors are currently weighing whether Iran's public rejection of U.S. proposals is a "smokescreen" or a genuine signal of prolonged conflict that could keep West Texas Intermediate above $93.

Posted by Defense World Staff on Apr 2nd, 2026

Braze (NASDAQ:BRZE – Get Free Report) and ON24 (NYSE:ONTF – Get Free Report) are both computer and technology companies, but which is the better business? We will contrast the two businesses based on the strength of their analyst recommendations, profitability, institutional ownership, risk, dividends, valuation and earnings.

Insider and Institutional Ownership 90.5% of Braze shares are held by institutional investors. Comparatively, 83.9% of ON24 shares are held by institutional investors. 18.2% of Braze shares are held by company insiders. Comparatively, 33.0% of ON24 shares are held by company insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company will outperform the market over the long term.

Earnings & Valuation This table compares Braze and ON24″s top-line revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Braze $738.18 million 3.58 -$131.29 million ($1.22) -19.33 ON24 $139.31 million 2.50 -$28.85 million ($0.68) -11.92 ON24 has lower revenue, but higher earnings than Braze. Braze is trading at a lower price-to-earnings ratio than ON24, indicating that it is currently the more affordable of the two stocks.

Profitability This table compares Braze and ON24’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Braze -17.78% -18.75% -10.60% ON24 -20.71% -16.62% -10.46% Risk and Volatility Braze has a beta of 0.89, suggesting that its share price is 11% less volatile than the S&P 500. Comparatively, ON24 has a beta of 0.6, suggesting that its share price is 40% less volatile than the S&P 500.

Analyst Ratings This is a summary of recent ratings and recommmendations for Braze and ON24, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Braze 1 1 22 0 2.88 ON24 1 2 0 0 1.67 Braze currently has a consensus price target of $36.67, indicating a potential upside of 55.50%. ON24 has a consensus price target of $8.10, indicating a potential downside of 0.06%. Given Braze’s stronger consensus rating and higher probable upside, analysts clearly believe Braze is more favorable than ON24.

Summary Braze beats ON24 on 8 of the 14 factors compared between the two stocks.

About Braze (Get Free Report)

Braze, Inc. operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company 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 that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data. It also offers classification products, including segmentation that can 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 provides Canvas, an orchestration tool that allows customers to create journeys, mapping out multi-steps, and cross-channel messaging experiences; campaigns, which allows customers to send one set of single-channel or multi-channel messages to be delivered to customers in a particular user segment; event and API triggering; marketing pressure management; and reporting and analytics. Further, it offers personalization products, such as liquid templating platform, connected content platform, content blocks, intelligent timing and channel, personalized variant, and AI item recommendations, and catalogs; and action products. 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.

About ON24 (Get Free Report)

ON24, Inc. provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience. It also offers ON24 Engagement Hub, for always-on multimedia content experience; ON24 Target, for personalized and curated landing page experience; ON24 Intelligence, for analytics backbone that captures first-person data to power the insights, benchmarking, reporting, and artificial intelligence and machine learning engine; ON24 AI-powered ACE, for enabling hyper-personalization at scale across ON24 experiences; ON24 Connect, for ecosystem of third-party application integrations; and ON24 Services and Platform Support, which provides a portfolio of professional services that provide consulting and support for product and platform adoption. In addition, the company offers consulting services, such as experience management, monitoring and production, implementation, and other support services. It sells its products through direct sales. The company serves technology, financial services, healthcare, industrial and manufacturing, professional services, and business-to-business information service companies. The company was formerly known as NewsDirect, Inc. and changed its name to ON24, Inc. in December 1998. ON24, Inc. was incorporated in 1998 and is headquartered in San Francisco, California.

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Braze remains a buy as Q4 2026 results reinforce the case for accelerating growth and higher valuation. Bookings surged over 50% y/y, enterprise traction deepened, and large customers now comprise 64% of ARR, supporting sustained momentum. AI is now contributing to revenue, with BrazeAI Decisioning Studio generating $5.7M and rapid adoption of new AI tools signaling future monetization potential.

BrazeAI Operator™, BrazeAI Agent Console™, and the new Braze Creative Studio are now available alongside EU hosting for BrazeAI Decisioning Studio™, introducing a radically better way for marketers to forge and maintain lasting customer relationships.

LONDON--(BUSINESS WIRE)--Braze (Nasdaq: BRZE), the leading customer engagement platform that empowers brands to Be Absolutely Engaging™, today delivered a new set of AI capabilities that transform how marketers build and deliver engaging and relevant experiences for their customers. From reaching new audiences to driving conversion and long-term loyalty, these capabilities join together in an integrated platform that gives marketers a unified way to manage the full customer lifecycle.

BrazeAI Operator™ and BrazeAI Agent Console™, now generally available

BrazeAI Operator™ and BrazeAI Agent Console™ bring decisioning, content generation, and execution directly into the marketer’s workflow. By embedding AI into the core platform, teams can act on data in real time and turn strategy into live customer experiences faster.

Speed up campaign execution with AI-powered content generation Reduce dependency on technical teams to get campaigns out the door Drive more relevant engagement by acting on customer data in real-time A unified approach to creative production and activation in Braze

The Braze Creative Studio connects creative production with campaign execution, giving teams a single place to manage assets and launch experiences. With direct integrations to Figma and Canva, it removes friction between design and delivery.

Move creative assets seamlessly from design tools into live campaigns Maintain brand consistency across channels with centralized asset management Connect creative to real-time customer context for more relevant experiences Flexible, regional infrastructure for AI-driven decisioning

BrazeAI Decisioning Studio™ can now be hosted in Europe on Google Cloud, giving brands more control over how and where their data is managed. This expansion supports decisioning while also meeting regional data requirements.

Keep customer data closer to home with EU-based hosting Apply decisioning without compromising on data governance or compliance Scale AI-driven engagement globally with greater flexibility and control “The world’s largest and most sophisticated brands are choosing Braze to drive their AI transformation during this period of rapidly evolving disruption and opportunity. But for AI to matter, it has to be more than a promise. It has to work, at scale, and be enterprise-ready,” said Bill Magnuson, Cofounder and CEO of Braze. “Braze is putting powerful, production-ready AI and creative tools directly into the hands of marketers to amplify their impact and define their competitive edge. Our new tools are live, the technology is proven, and the brands that seize this moment will build the businesses that customers remember.”

These updates are being unveiled today at City x City London, Braze’s flagship EMEA event focused on the craft of customer engagement, at Olympia in London. The event brings together Europe’s leading marketers, product leaders, and customer experience teams to explore how brands are applying AI, real-time data, and creativity to drive more effective engagement. Through a combination of product showcases, customer-led sessions, and practical use cases, City x City London is designed to give attendees a clear view into how the most successful brands are putting AI to work, swapping ideas, and turning inspiration into action.

Enabling real-time, individualized engagement

BrazeAI Operator™ is a new in-dashboard AI assistant that helps marketers create campaigns, build custom agents, generate content, and troubleshoot workflows, reducing the time and technical expertise required to execute complex strategies.

Cleo, a global family care platform, used BrazeAI Operator™ to rebuild its welcome experience around individual member needs. This resulted in an 81% reduction in unsubscribes, a 97% drop in opt-outs on the first email, a 284% increase in app opens, and a 124% lift in push notification engagement.

The American Diabetes Association applied BrazeAI Operator™ to redesign its eCommerce journey, moving from a single-message approach to a more dynamic, multi-step experience that supports deeper engagement and follow-up interactions.

“I felt like I was talking to someone who worked for Braze. It’s my thought partner. I’m kind of addicted to it. I’m doing things that would have been completely impossible without the Operator.”
— Elaine Armbruster, Director of Digital Experience, American Diabetes Association

“The Operator literally thought of ways of using customer data I hadn't even considered and incorporated it into advanced Liquid code. It prevented issues I wouldn't have caught until QA, and I wouldn’t have known where to start troubleshooting.”
— Holly Jacobson, Sr Lifecycle Marketing Manager, Cleo

To learn more about how BrazeAI Operator™ helps marketers build, troubleshoot, and optimize campaigns with greater speed and confidence, visit the Braze blog for a deeper look at the product and customer use cases.

BrazeAI Agent Console™ provides a new, centralized environment to build, manage, and deploy AI agents that generate content, interpret data, and adapt campaigns in real time.

Dayuse, a global hospitality platform, used BrazeAI Agent Console™ to generate individualized messages at the moment of send, with each message informed by real-time customer context such as booking history, preferences, and language. This approach enabled the brand to move beyond static campaigns and deliver content that reflects each user’s situation as it happened. By working with Braze, Dayuse has seen a 90% increase in booking conversion rate, doubled incremental revenue for a key campaign, and achieved an additional 23% uplift in repeat engagement after adopting the capability.

“Personalization at this level across marketers used to require significant manual workload. With BrazeAI Agent Console, we were able to scale individualized messaging across languages and regions in a way that feels relevant to each customer. That shift has had a clear impact on how customers engage and return to our platform.”
— Martin Juglair, CRM Manager, Dayuse

To explore how BrazeAI Agent Console™ enables real-time decisioning, content generation, and data interpretation within live customer journeys, visit the Braze blog for additional detail and examples.

Introducing the Braze Creative Studio

The new Braze Creative Studio brings creative production and campaign execution into a unified workflow, so marketers can move from concept to campaign faster while maintaining brand consistency.

With the new Figma and Canva integrations, marketers can import creative assets and full email templates from popular design programs directly into Braze while keeping design fidelity intact. A new centralized UI gives teams easy access to a composable set of content capabilities, including the new design tool integrations, a centralized media library, templates, brand guidelines, and more, making it simpler to use the features they need and scale what works.

The Braze Creative Studio works seamlessly with the rest of the Braze platform, connecting creative execution with real-time data, intelligence, and cross-channel delivery so brands can transform generic assets into relevant, memorable brand experiences.

“The most exciting thing about agentic AI isn't what any single tool can do on its own, it's what opens up when the right tools work together. Canva AI gives agents the ability to generate and iterate on visuals at scale, and Braze gets that creative in front of the right audience at the right moment. Closing the loop from visual creation to customer activation is what marketing teams need to keep up, and this integration enables users to seamlessly publish their on-brand Canva assets to Braze while maintaining design integrity.”
— Anwar Haneef, Head of Ecosystem, Canva

“The new Figma plugin is a great workflow hack for marketers like me building asset-heavy campaigns or landing pages on tight deadlines. We all know the headache of juggling multiple tabs just to get one task done, and this tool eliminates that friction by uploading images in a single click. It’s simple, but I rely on it daily to save several minutes on each project.”
— Ashley Auger, CRM Technical Manager, Growth, Mercari US

To see how the Braze Creative Studio streamlines creative workflows and connects design to activation with Figma and Canva, visit the Braze blog for more information.

About Braze

Braze is the leading customer engagement platform that empowers brands to Be Absolutely Engaging™. Braze helps brands deliver great customer experiences that drive value both for consumers and for their businesses. Built on a foundation of composable intelligence, BrazeAI™ allows marketers to combine and activate AI agents, models, and features at every touchpoint throughout the Braze Customer Engagement Platform for smarter, faster, and more meaningful customer engagement. From cross-channel messaging and journey orchestration to Al-powered decisioning and optimization, Braze enables companies to turn action into interaction through autonomous, 1:1 personalized experiences. The company has repeatedly been recognized as a Leader in marketing technology by industry analysts, and was voted a G2 “Best of Marketing and Digital Advertising Software Product” in 2025. Braze was also named a 2025 Best Companies To Work For by U.S. News & World Report, a 2025 America’s Greatest Companies by Newsweek, and a 2025 Fortune Best Workplace in Technology™ by Great Place To Work®. The company is headquartered in New York with 15 offices across the Americas, EMEA, and APAC. Learn more at braze.com.

Forward-looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the anticipated performance of and benefits from Braze, its products and programs, including the BrazeAI Decisioning Studio, BrazeAI Operator, BrazeAI Agent Console and Braze Creative Studio. These forward-looking statements are based on the current assumptions, expectations and beliefs of Braze, and are subject to substantial risks, uncertainties and changes in circumstances that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Further information on potential factors that could affect Braze results are included in Braze’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the U.S. Securities and Exchange Commission on March 25, 2026, and the other public filings of Braze with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent the views of Braze only as of the date of this press release, and Braze assumes no obligation, and does not intend to update these forward-looking statements, except as required by law.

Launched on 09/06/2019, the WisdomTree Cloud Computing ETF (WCLD - Free Report) is a smart beta exchange traded fund offering broad exposure to the Technology ETFs category of the market.

What Are Smart Beta ETFs?The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.

Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.

However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.

By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.

This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.

Fund Sponsor & IndexManaged by Wisdomtree, WCLD has amassed assets over $224.99 million, making it one of the average sized ETFs in the Technology ETFs. Before fees and expenses, this particular fund seeks to match the performance of the BVP NASDAQ EMERGING CLOUD INDEX .

The BVP Nasdaq Emerging Cloud Index is an equally weighted Index, designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers.

Cost & Other ExpensesCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.

Operating expenses on an annual basis are 0.45% for this ETF, which makes it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 0.00%.

Sector Exposure and Top HoldingsMost ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.

For WCLD, it has heaviest allocation in the Information Technology sector --about 92.2% of the portfolio.

Taking into account individual holdings, Fastly Inc - Class A (FSLY) accounts for about 2.87% of the fund's total assets, followed by Digitalocean Holdings Inc (DOCN) and Braze Inc-a (BRZE).

WCLD's top 10 holdings account for about 19.89% of its total assets under management.

Performance and RiskThe ETF has lost about -21.91% and is down about -17.6% so far this year and in the past one year (as of 04/30/2026), respectively. WCLD has traded between $24.09 and $36.88 during this last 52-week period.

The ETF has a beta of 1.13 and standard deviation of 29.15% for the trailing three-year period. With about 66 holdings, it effectively diversifies company-specific risk .

AlternativesWisdomTree Cloud Computing ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.

Global X Cloud Computing ETF (CLOU) tracks INDXX GLOBAL CLOUD COMPUTING INDEX and the First Trust Cloud Computing ETF (SKYY) tracks ISE Cloud Computing Index. Global X Cloud Computing ETF has $210.62 million in assets, First Trust Cloud Computing ETF has $2.45 billion. CLOU has an expense ratio of 0.68% and SKYY changes 0.60%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs

Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

NEW YORK--(BUSINESS WIRE)--Braze (Nasdaq: BRZE) the leading customer engagement platform that empowers brands to Be Absolutely Engaging™, today announced results for its fiscal quarter ended April 30, 2026.

“We are off to a strong start in fiscal year 2027, delivering the fourth straight quarter of organic revenue acceleration, driven by strong demand for our AI-powered customer engagement platform,” said Bill Magnuson, cofounder and CEO of Braze. “The strong market momentum we experienced at the end of fiscal year 2026 carried directly into this quarter. Our AI solutions, including BrazeAI Operator™, BrazeAI Agent Console™, and BrazeAI Decisioning Studio™ are already delivering measurable results for customers. The world's leading brands are increasingly looking to transform their businesses through our platform as they deepen their direct-to-consumer relationships and build their futures on Braze. The strength of our results validates our product leadership, go-to-market approach, and financial strategy, positioning Braze to become the global standard for customer engagement.”

Fiscal First Quarter 2027 Financial Highlights

Revenue was $211.0 million compared to $162.1 million in the first quarter of the fiscal year ended January 31, 2026, up 30.2% year-over-year, driven primarily by new customers, upsells, and renewals. Subscription revenue in the quarter was $195.2 million compared to $154.9 million in the first quarter of the fiscal year ended January 31, 2026, and professional services and other revenue was $15.8 million compared to $7.2 million in the first quarter of the fiscal year ended January 31, 2026. Remaining performance obligations as of April 30, 2026 were $1,079.2 million, of which $670.3 million is current, which the company defines as less than one year. GAAP gross margin was 65.7% compared to 68.6% in the first quarter of the fiscal year ended January 31, 2026. Non-GAAP gross margin was 67.4% compared to 69.3% in the first quarter of the fiscal year ended January 31, 2026. Dollar-based net retention for all customers for the trailing 12 months ended April 30, 2026 and April 30, 2025 was 110% and 109%, respectively; dollar-based net retention for customers with annual recurring revenue (ARR) of $500,000 or more was 111% compared to 112% in the first quarter of the fiscal year ended January 31, 2026. Total customers increased to 2,713 as of April 30, 2026 from 2,342 as of April 30, 2025; 349 of the company’s customers had ARR of $500,000 or more as of April 30, 2026, compared to 262 customers as of April 30, 2025. GAAP operating loss was $27.5 million compared to an operating loss of $40.2 million in the first quarter of the fiscal year ended January 31, 2026. A primary contributor to the operating loss in the quarter included $33.6 million of stock-based compensation expense. Non-GAAP operating income was $10.5 million compared to non-GAAP operating income of $2.8 million in the first quarter of the fiscal year ended January 31, 2026. GAAP net loss per share attributable to Braze common stockholders, basic and diluted, of $0.24 based on 110.8 million weighted average shares outstanding in the first quarter of the fiscal year ending January 31, 2027, compared to GAAP net loss per share attributable to Braze common stockholders, basic and diluted, of $0.34, based on 104.6 million weighted average shares outstanding in the first quarter of the fiscal year ended January 31, 2026. Non-GAAP net income per share attributable to Braze common stockholders, diluted, was $0.10 based on 112.9 million weighted average shares outstanding in the first quarter of the fiscal year ending January 31, 2027, compared to non-GAAP net income per share attributable to Braze common stockholders, diluted, of $0.07 based on 108.0 million weighted average shares outstanding in the first quarter of the fiscal year ended January 31, 2026. Net cash provided by operating activities was $28.1 million compared to net cash provided by operating activities of $24.1 million in the first quarter of the fiscal year ended January 31, 2026. Free cash flow was $26.8 million compared to $22.9 million in the first quarter of the fiscal year ended January 31, 2026. Total cash and cash equivalents, restricted cash, and marketable securities was $391.5 million as of April 30, 2026 compared to $415.9 million as of January 31, 2026. Business Highlights

Notable new business wins and existing customer expansions in the quarter included Bondora Group, ClassPass, Denny’s, Deuna, Kueski, NRMA, Regal Cinemas, Salomon, and Subway. Hosted nearly 1,200 in-person attendees at City x City London, Braze’s largest gathering of prospects and customers outside of the U.S., for an event centered on shaping the future of AI-driven customer engagement. Released the Forrester Total Economic Impact™ Of Braze study* which examines the combined business impact of the Braze platform and BrazeAI Decisioning Studio™ and finds that a composite organization using the Braze platform achieved an estimated 457% return on investment over three years, with a net present value of $23.5 million and payback in less than six months. Innovations

Announced Braze Creative Studio, including new integrations with Figma and Canva, which connect creative execution with real-time data, intelligence, and cross-channel delivery, thus enabling brands to transform generic assets into relevant, memorable brand experiences. Made BrazeAI Operator™ generally available months ahead of schedule. Operator is a companion that provides a unified experience for accessing AI to build campaigns, uncover data insights, answer questions and greatly simplify execution. Amplified with a major public launch at City x City London in April, including new innovations added since general availability such as a unified experience to access AI while creating or modifying campaigns, with additional enhancements currently in beta. Made BrazeAI Agent Console™ generally available months ahead of schedule, and launched to the public at City x City London in April. Agent Console brings the power of generative and agentic AI directly into Braze Canvas and Catalogs. Additional innovation introduced after general availability includes enabling automated agents to run personalized campaigns and manage two-way customer engagement to drive ROI, with much more to come in beta. Management Team Updates

Chris Lal joined the company as General Counsel on May 15, 2026 to lead global legal, strategic and governance matters, including intellectual property, privacy, commercial, corporate, employment and responsible-AI initiatives. Mr. Lal brings deep experience both as a business leader and a corporate and securities attorney, having led legal functions at companies across data analytics, technology, e-commerce and retail. Nick Rockwell will join the company as Chief Information Officer to lead compliance, data governance, AI transformation, enterprise business data flows, and corporate IT initiatives effective June 1, 2026. Mr. Rockwell brings extensive experience across media, publishing and technology organizations, building digital products for mass audiences. The company appointed Pankaj Malik, currently Chief Accounting Officer, as its Interim Chief Financial Officer effective May 29, 2026. Mr. Malik has led the Braze accounting department since 2021. Financial Outlook

Braze is initiating guidance for the fiscal second quarter ending July 31, 2026, and updating guidance for the fiscal year ending January 31, 2027.

Metric

(in millions, except per share amounts)

FY 2027 Q2 Guidance

FY 2027 Guidance

Revenue

$219.5 - 220.5

$895.0 - 899.0

Non-GAAP operating income

$17.0 - 18.0

$70.0 - 74.0

Non-GAAP net income

$17.0 - 18.0

$70.0 - 74.0

Non-GAAP net income per share, diluted

$0.15 - 0.16

$0.61 - 0.65

Weighted average common shares used in computing non-GAAP net income per share, diluted

~114.0

~114.0

Braze has not reconciled its guidance as to non-GAAP operating income, non-GAAP net income or non-GAAP net income per share, diluted, to their most directly comparable GAAP measures as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in Braze’s stock price. Accordingly, reconciliations are not available without unreasonable effort, although it is important to note that these factors could be material to Braze’s results calculated in accordance with GAAP.

Conference Call Information

What: Braze Fiscal First Quarter 2027 Financial Results Conference Call
When: Wednesday, May 27th at 4:30 pm EDT / 1:30 pm PDT
Webcast & Supplemental Data: investors.braze.com
Replay: A webcast replay will be available on Braze’s investor site at investors.braze.com.

Supplemental and Other Financial Information

Supplemental information, including an accompanying financial presentation and other information can be accessed through Braze’s investor website at investors.braze.com.

Non-GAAP Financial Measures

This press release and the accompanying tables contain the following non-GAAP financial measures: non-GAAP gross profit and margin, non-GAAP sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, basic and diluted, and non-GAAP free cash flow. Braze defines non-GAAP gross profit and margin, non-GAAP sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP operating income (loss), non-GAAP operating margin, and non-GAAP net income (loss) as the respective GAAP balances, adjusted for stock-based compensation expense, employer taxes related to stock-based compensation, charitable contribution expense, acquisition-related expense, and amortization of intangible assets. Braze defines non-GAAP free cash flow as net cash provided by (used in) operating activities, minus purchases of property and equipment and minus capitalized internal-use software costs. Investors are encouraged to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures.

Braze uses this non-GAAP financial information internally in analyzing its financial results and believes that this non-GAAP financial information, when taken collectively with GAAP financial measures, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles in the United States (GAAP), and may be different from similarly titled non-GAAP measures used by other companies.

The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by GAAP to be recorded in Braze’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by Braze’s management about which expenses are excluded or included in determining these non-GAAP financial measures. A reconciliation is provided below in the financial statement tables included below in this press release for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP.

Braze encourages investors to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, which it includes in press releases announcing quarterly and fiscal year financial results, including this press release, and not to rely on any single financial measure to evaluate Braze’s business.

Definition of Other Business Metrics

Customer: Braze defines a customer, as of period end, as the separate and distinct, ultimate parent-level entity that has an active subscription with Braze to use its products. A single organization could have multiple distinct contracting divisions or subsidiaries, all of which together would be considered a single customer.

Annual Recurring Revenue (ARR): Braze defines ARR as the annualized value of customer subscription contracts, including certain premium professional services that are subject to contractual subscription terms, as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms (including contracts for which Braze is negotiating a renewal). Braze’s calculation of ARR is not adjusted for the impact of any known or projected future events (such as customer cancellations, expansion or contraction of existing customers relationships or price increases or decreases) that may cause any such contract not to be renewed on its existing terms. ARR may decline or fluctuate as a result of a number of factors, including customers’ satisfaction or dissatisfaction with Braze’s products and professional services, pricing, competitive offerings, economic conditions or overall changes in Braze’s customers’ spending levels. ARR should be viewed independently of revenue and does not represent Braze’s GAAP revenue on an annualized basis or a forecast of revenue, as it is an operating metric that can be impacted by contract start and end dates and renewal rates.

Dollar-Based Net Retention Rate: Braze calculates dollar-based net retention rate as of a period end by starting with the ARR from a cohort of customers as of 12 months prior to such period-end (the Prior Period ARR). Braze then calculates the ARR from the same cohort of customers as of the end of the current period (the Current Period ARR). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months, but excludes ARR from new customers in the current period. Braze then divides the total Current Period ARR by the total Prior Period ARR to arrive at the point-in-time dollar-based net retention rate. Braze then calculates the weighted average point-in-time dollar-based net retention rates as of the last day of each month in the current trailing 12-month period to arrive at the dollar-based net retention rate.

Organic Revenue: Braze defines organic revenue as total GAAP revenue, less GAAP revenue generated from business units acquired within the prior 12 months.

Remaining Performance Obligations: The transaction price allocated to remaining performance obligations represents amounts under non-cancelable contracts expected to be recognized as revenue in future periods, and may be influenced by several factors, including seasonality, the timing of renewals, the timing of service delivery and contract terms. Unbilled portions of the remaining performance obligation are subject to future economic risks including bankruptcies, regulatory changes and other market factors.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Braze’s financial outlook for the second quarter of and the full fiscal year ending January 31, 2027, the anticipated performance of and customer value from its products and features, including its BrazeAI products and features, and its future business strategies and plans. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “hope,” “intend,” “may,” “might,” “potential,” “predict,” “project,” “shall,” “should,” “target,” “will” and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on Braze’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Braze’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: (1) the extent to which Braze achieves anticipated financial targets; (2) Braze’s ability to realize its broader strategic and operating objectives; (3) unstable market and economic conditions may have serious adverse consequences on Braze’s business, financial condition and share price; (4) Braze’s recent rapid revenue growth may not be indicative of its future revenue growth; (5) Braze’s history of operating losses; (6) Braze’s limited operating history at its current scale; (7) Braze’s ability to successfully manage its growth; (8) the accuracy of estimates of market opportunity and forecasts of market growth and the impact of global and domestic socioeconomic events on Braze’s business; (9) Braze’s ability and the ability of its platform to adapt and respond to changing customer or consumer needs, requirements or preferences; (10) Braze’s ability to attract new customers and renew existing customers; (11) the competitive markets in which Braze participates and the intense competition that it faces; (12) Braze’s ability to adapt and respond effectively to rapidly changing technology, evolving cybersecurity and data privacy risks, evolving industry standards or changing regulations; and (13) Braze’s reliance on third-party providers of cloud-based infrastructure; as well as other risks and uncertainties discussed in the “Risk Factors” section of Braze’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 25, 2026 and other subsequent filings Braze makes with the SEC from time to time, including Braze’s Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2026, that will be filed with the SEC. The forward-looking statements included in this press release represent Braze’s views only as of the date of this press release and Braze assumes no obligation, and does not intend to update these forward-looking statements, except as required by law.

Third Party Reports

*The Total Economic Impact™ Of Braze, a commissioned study conducted by Forrester Consulting on behalf of Braze, April 2026. Results are based on a three-year composite organization representative of interviewed customers.

Operational Data

Operational and other internal data included in this press release is approximate and is based on various assumptions. This data is tracked with internal systems and tools that are not independently verified by any third party, and is accordingly subject to adjustment. The methodology underlying the data included in this press release may vary from prior years and prior year results may not be directly comparable to current results.

About Braze

Braze is the leading customer engagement platform that empowers brands to Be Absolutely Engaging™. Braze helps brands deliver great customer experiences that drive value both for consumers and for their businesses. Built on a foundation of composable intelligence, BrazeAI™ allows marketers to combine and activate AI agents, models, and features at every touchpoint throughout the Braze Customer Engagement Platform for smarter, faster, and more meaningful customer engagement. From cross-channel messaging and journey orchestration to Al-powered decisioning and optimization, Braze enables companies to turn action into interaction through autonomous, 1:1 personalized experiences. The company has been consistently recognized as a Leader in marketing technology by industry analysts, and was named a G2 “Best of Marketing and Digital Advertising Software Product” in 2026. Braze was also named a 2026 Best Places to Work by Built In, a 2025 America’s Greenest Companies by Newsweek, and a 2025 Fortune Best Workplace in Technology™ by Great Place To Work®. The company is headquartered in New York with 15 offices across the Americas, EMEA, and APAC. Learn more at braze.com.

Braze uses its Investor website at investors.braze.com as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor its investor relations website in addition to following its press releases, blog posts on its website (braze.com), SEC filings and public conference calls and webcasts.

Selected Financial Data

  BRAZE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands, except per share amounts)

  Three Months Ended
April 30,

2026

2025

Revenue

$

210,999

$

162,059

Cost of revenue (1)(2)(5)

72,336

50,857

Gross Profit

138,663

111,202

Operating expenses:

Sales and marketing (1)(2)(5)

89,188

74,127

Research and development (1)(2)

46,100

36,797

General and administrative (1)(2)(3)(4)(5)

30,889

40,500

Total operating expenses

166,177

151,424

Loss from operations

(27,514

)

(40,222

)

Other income, net

3,450

5,652

Loss before provision for income taxes

(24,064

)

(34,570

)

Provision for income taxes

1,428

1,071

Net loss

(25,492

)

(35,641

)

Net income (loss) attributable to redeemable non-controlling interest

1,099

145

Net loss attributable to Braze, Inc.

$

(26,591

)

$

(35,786

)

Net loss per share attributable to Braze, Inc. common stockholders, basic and diluted

$

(0.24

)

$

(0.34

)

Weighted-average shares used to compute net loss per share attributable to Braze, Inc. common stockholders, basic and diluted

110,797

104,572

Three Months Ended
April 30,

2026

2025

Cost of revenue

$

1,206

$

1,077

Sales and marketing

10,584

10,011

Research and development

14,640

11,336

General and administrative

7,171

7,975

Total stock-based compensation expense

$

33,601

$

30,399

Three Months Ended
April 30,

2026

2025

Cost of revenue

$

31

$

60

Sales and marketing

193

413

Research and development

307

744

General and administrative

139

213

Total employer taxes related to stock-based compensation expense

$

670

$

1,430

Three Months Ended
April 30,

2026

2025

General and administrative

$

500

$

1,109

Three Months Ended
April 30,

2026

2025

General and administrative

$

172

$

10,020

Three Months Ended
April 30,

2026

2025

Cost of revenue

$

2,362

$

—

Sales and marketing

600

—

General and administrative

78

101

Total amortization of intangible assets

$

3,040

$

101

BRAZE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands, except share and per share amounts)

  April 30,
2026

January 31,
2026

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

145,289

$

124,342

Restricted cash, current

566

566

Accounts receivable, net of allowance of $1,808 and $1,934, respectively

118,471

122,350

Marketable securities

242,232

287,580

Prepaid expenses and other current assets

40,117

33,088

Total current assets

546,675

567,926

Restricted cash, noncurrent

3,430

3,430

Property and equipment, net

42,426

43,517

Operating lease right-of-use assets

70,591

72,011

Deferred contract costs

103,755

100,738

Goodwill

262,120

261,857

Intangible assets, net

58,447

61,487

Other assets

3,595

2,791

TOTAL ASSETS

$

1,091,039

$

1,113,757

LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable

$

5,607

$

1,562

Accrued expenses and other current liabilities

73,579

95,023

Deferred revenue

342,519

304,560

Operating lease liabilities, current

19,775

19,269

Total current liabilities

441,480

420,414

Operating lease liabilities, noncurrent

61,681

63,385

Other long-term liabilities

4,717

5,802

TOTAL LIABILITIES

507,878

489,601

COMMITMENTS AND CONTINGENCIES (Note 13)

Redeemable non-controlling interest (Note 4)

1,488

389

STOCKHOLDERS’ EQUITY

Class A common stock, $0.0001 par value; 2,000,000,000 and 2,000,000,000 shares authorized as of April 30, 2026 and January 31, 2026, respectively; 111,783,711 and 112,770,651 shares issued and outstanding as of April 30, 2026 and January 31, 2026, respectively

11

11

Additional paid-in capital

1,325,959

1,340,091

Accumulated other comprehensive income (loss)

417

1,788

Accumulated deficit

(744,714

)

(718,123

)

TOTAL STOCKHOLDERS’ EQUITY

581,673

623,767

TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY

$

1,091,039

$

1,113,757

  BRAZE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands)

  Three Months Ended
April 30,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss (including amounts attributable to redeemable non-controlling interests)

$

(25,492

)

$

(35,641

)

Adjustments to reconcile net loss to net cash provided by operating activities:

Stock-based compensation

35,804

30,643

Amortization of deferred contract costs

12,280

9,421

Depreciation and amortization

6,284

2,606

Provision for credit losses

(78

)

232

Value of common stock donated to charity

500

1,109

Accretion of discount on marketable securities

(78

)

(399

)

Non-cash foreign exchange (gain) loss

288

227

Deferred tax asset

(263

)

—

Other

6

9

Changes in operating assets and liabilities:

Accounts receivable

3,848

9,108

Prepaid expenses and other current assets

(6,961

)

3,147

Deferred contract costs

(15,342

)

(11,870

)

ROU assets and liabilities

273

(410

)

Other assets

(805

)

(403

)

Accounts payable

3,833

(978

)

Accrued expenses and other current liabilities

(20,889

)

(7,203

)

Deferred revenue

38,211

24,547

Other long-term liabilities

(3,293

)

(1

)

Net cash provided by operating activities

28,126

24,144

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property and equipment

(108

)

(217

)

Capitalized internal-use software costs

(1,227

)

(1,055

)

Purchases of marketable securities

(26,662

)

(52,364

)

Maturities of marketable securities

35,870

63,215

Return of principal on marketable securities

34,923

113,258

Net cash provided by investing activities

42,796

122,837

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from exercise of common stock options

310

605

Repurchase of common stock

(50,000

)

—

Net cash provided by/(used in) financing activities

(49,690

)

605

Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash

(285

)

851

Net change in cash, cash equivalents, and restricted cash

20,947

148,437

Cash, cash equivalents, and restricted cash, beginning of period

128,338

83,592

Cash, cash equivalents, and restricted cash, end of period

$

149,285

$

232,029

  BRAZE, INC.

U.S. GAAP RECONCILIATION OF NON-GAAP ADJUSTED RESULTS

(in thousands, except per share amounts)

  The following tables reconcile each non-GAAP financial measure to its most directly comparable GAAP financial measure:

  Reconciliation of GAAP to Non-GAAP Gross Margin

Three Months Ended
April 30,

2026

2025

Gross profit

$

138,663

$

111,202

Plus:

Stock-based compensation expense

1,206

1,077

Employer taxes related to stock-based compensation expense

31

60

Amortization of intangibles expense

2,362

—

Non-GAAP gross profit

$

142,262

$

112,339

GAAP gross margin

65.7

%

68.6

%

Non-GAAP gross margin

67.4

%

69.3

%

Reconciliation of GAAP to Non-GAAP Operating Expenses

Three Months Ended
April 30,

2026

2025

GAAP sales and marketing expense

$

89,188

$

74,127

Less:

Stock-based compensation expense

10,584

10,011

Employer taxes related to stock-based compensation expense

193

413

Amortization of intangibles expense

600

—

Non-GAAP sales and marketing expense

$

77,811

$

63,703

GAAP research and development expense

$

46,100

$

36,797

Less:

Stock-based compensation expense

14,640

11,336

Employer taxes related to stock-based compensation expense

307

744

Non-GAAP research and development expense

$

31,153

$

24,717

GAAP general and administrative expense

$

30,889

$

40,500

Less:

Stock-based compensation expense

7,171

7,975

Employer taxes related to stock-based compensation expense

139

213

1% Pledge charitable contribution expense

500

1,109

Acquisition related expense

172

10,020

Amortization of intangibles expense

78

101

Non-GAAP general and administrative expense

$

22,829

$

21,082

Reconciliation of GAAP to Non-GAAP Operating Income

Three Months Ended
April 30,

2026

2025

Loss from operations

$

(27,514

)

$

(40,222

)

Plus:

Stock-based compensation expense

33,601

30,399

Employer taxes related to stock-based compensation expense

670

1,430

1% Pledge charitable contribution expense

500

1,109

Acquisition related expense

172

10,020

Amortization of intangibles expense

3,040

101

Non-GAAP income from operations

$

10,469

$

2,837

GAAP operating margin

(13.0

)%

(24.8

)%

Non-GAAP operating margin

5.0

%

1.8

%

Reconciliation of GAAP to Non-GAAP Net Income

Three Months Ended
April 30,

2026

2025

Net loss attributable to Braze, Inc.

$

(26,591

)

$

(35,786

)

Plus:

Stock-based compensation expense

33,601

30,399

Employer taxes related to stock-based compensation expense

670

1,430

1% Pledge charitable contribution expense

500

1,109

Acquisition related expense

172

10,020

Amortization of intangibles expense

3,040

101

Non-GAAP net income attributable to Braze, Inc. (1)

$

11,392

$

7,273

Non-GAAP net income per share attributable to Braze, Inc. common stockholders, basic

$

0.10

$

0.07

Non-GAAP net income per share attributable to Braze, Inc. common stockholders, diluted

$

0.10

$

0.07

Weighted-average shares used to compute net income per share attributable to Braze, Inc. common stockholders, basic

110,797

104,572

Weighted-average shares used to compute net income per share attributable to Braze, Inc. common stockholders, diluted

112,862

107,977

Reconciliation of GAAP Cash Flow from Operating Activities to Non-GAAP Free Cash Flow

Three Months Ended
April 30,

2026

2025

Net cash provided by operating activities

$

28,126

$

24,144

Less:

Purchases of property and equipment

(108

)

(217

)

Capitalized internal-use software costs

(1,227

)

(1,055

)

Non-GAAP free cash flow

$

26,791

$

22,872

Braze is a registered trademark of Braze, Inc.
All product and company names herein may be trademarks of their registered owners.

Braze, Inc. (BRZE - Free Report) came out with quarterly earnings of $0.1 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -2.82%. A quarter ago, it was expected that this company would post earnings of $0.14 per share when it actually produced earnings of $0.1, delivering a surprise of -28.57%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Braze, which belongs to the Zacks Internet - Software industry, posted revenues of $211 million for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 2.84%. This compares to year-ago revenues of $162.06 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Braze shares have lost about 25.8% since the beginning of the year versus the S&P 500's gain of 9.8%.

What's Next for Braze?While Braze has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Braze was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.15 on $215.78 million in revenues for the coming quarter and $0.63 on $884.24 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Elastic (ESTC - Free Report) , has yet to report results for the quarter ended April 2026. The results are expected to be released on May 28.

This software developer is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +19.2%. The consensus EPS estimate for the quarter has been revised 10.3% lower over the last 30 days to the current level.

Elastic's revenues are expected to be $446.4 million, up 14.9% from the year-ago quarter.

Braze, Inc. (BRZE) Q1 2027 Earnings Call Transcript

Braze (BRZE +0.42%) stock is losing ground in Thursday's trading following the company's recent quarterly report. The marketing software specialist's share price was down 4.2% as of 3:45 p.m. ET despite the S&P 500 being up 0.6% at the same point in the daily session and the Nasdaq Composite being up 0.9%. On the other hand, the stock had been off as much as 9.4% earlier in the session.

Braze published its first-quarter results after the market closed yesterday and actually posted sales that beat Wall Street's forecast. The company also raised its full-year sales outlook, but that hasn't been enough to prevent a pullback for the stock.

Image source: Getty Images.

Braze posted solid momentum in Q1 With its Q1 report, Braze delivered non-GAAP (adjusted) earnings of $0.10 on sales of $211 million. Earnings per share were in line with the average Wall Street analyst estimate, and sales for the period topped the average forecast by $5.8 million. Revenue increased roughly 30% year over year in the period, but the company's adjusted gross margin fell to 67.4% from 69.3% in the prior-year period.

Today's Change

(

0.42

%) $

0.09

Current Price

$

21.75

What's next for Braze? With its Q1 report, Braze raised its full-year sales target to between $895 million and $899 million -- with the midpoint of that guidance suggesting annual sales growth of roughly 22%. The company had previously guided for sales to come in between $884 million and $889 million for the year.

On the other hand, the company said that it expected adjusted earnings per share for the year to come in between $0.61 and $0.65. While that forecast was in line with management's previous guidance, the company is targeting the same profit range even though its sales target has increased. With signs that margins are softening, some investors are opting to move out of the stock today.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Braze. The Motley Fool has a disclosure policy.

It’s been a long time coming, but Braze Incorporated’s NASDAQ: BRZE stock price decline is over, and the rebound appears underway.

The pullback has been partly tied to fears that artificial intelligence (AI) could disrupt customer engagement software providers. But Braze’s latest earnings release indicate a rebound underpinned by strength in clients, penetration, and cash flow, suggesting AI is becoming a demand driver rather than just a competitive threat. 

Takeaways from the company's fiscal Q1 2027 earnings report include client wins such as Regal Cinemas, Salomon, and Subway—all globally recognized brands—and a Forrester Total Economic Impact report. That report found that Braze’s customer engagement platform delivers more than 450% return on investment (ROI) within the first three years, paying for itself within the first six months of use by energizing brand engagement while reducing marketing and back-end engineering costs.

Get Braze alerts:

Braze Accelerates in Fiscal Q1 2027, Raises GuidanceBraze Today

$21.80 +0.14 (+0.65%)

As of 01:59 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$15.26▼

$37.33Price Target$35.00

Braze, Inc. had a solid quarter, accelerating growth for the fourth consecutive quarter.

Revenue came in at $211 million, up more than 30% year-over-year (YOY) and 280 basis points better than expected. Strength was driven by customers, up 16% YOY, and penetration, with the net retention rate up 110% YOY.

Client growth was driven by large customers contributing more than $500,000 in annual recurring revenue (ARR), which increased 33% YOY, underpinned by Subscriptions. Subscriptions are the core segment, accounting for nearly 93% of revenue, but Pro Services was also strong, up more than 100% YOY, driven by demand for Braze’s AI-enabled tools. That mix matters because Braze is not simply selling more seats; it is adding higher-value implementation, customer success, and AI-enabled capabilities around its core platform.

Margin news was mixed, but overall bullish for investors, as it aligns with the company’s cash flow and capital return outlook. Margin narrowed at all levels, more sharply than anticipated in some comparisons, but the impact is mitigated by the cause and the company’s financial position. While sales, marketing, research, and development expenses all increased, they underpin results and are controllable.

Other costs, including general and administrative, are also controllable and declined during the period. The net result was $28.1 million in operating cash flow, a 16.5% gain compared to last year, $26.8 million in free cash flow, and 10 cents in adjusted earnings.

The earnings per share (EPS) of 10 cents was only as expected, despite the top-line strength, but up more than 40% YOY, enabling a confident capital return.

Management followed through on its accelerated share repurchase authorization, buying $50 million in shares during the quarter. The company has $50 million left and expects to nearly offset the full impact of share-based compensation this year.

Guidance was also good. The company raised its outlook for revenue and earnings, putting the midpoint in alignment with the consensus. While not typically a strong catalyst, the news was not as bad as expected. The likely outcome is that Braze continues to perform well as the year progresses, leading analysts to adopt a more bullish posture.

Analyst Signal Floor for BRZE StockBraze Stock Forecast Today12-Month Stock Price Forecast:
$35.00
66.76% Upside

Moderate Buy
Based on 20 Analyst Ratings

Current Price$20.99High Forecast$50.00Average Forecast$35.00Low Forecast$27.00Braze Stock Forecast Details

Analyst response was tepid, with a few price target reductions and numerous reaffirmed targets.

The consensus price forecast of $36 implies nearly 30% upside, signaling a deep-value opportunity for investors.

More importantly, the revisions suggest the sentiment downtrend is over, setting the stage for improvement as the year progresses and serving as a catalyst for higher stock prices.

Until then, MarketBeat data show that Braze coverage is increasing, and the 24 tracked analysts have a high conviction in the Moderate Buy rating.

The Buy-side bias is more than 90% and reflected in the institutional activity. Institutional groups own more than 90% of the stock and have accumulated it at an aggressive pace over the trailing 12-month period. The likely outcome is that they continue to buy and hold until higher prices are available.

How high can the BRZE share price get? The valuation metrics suggest about 100% upside is possible. The current-year P/E is high, but assuming the company meets its outlook, the stock will trade at only 13x the 2030 forecast. In this scenario, Braze shares can easily advance by 100% to the 26x level, as longer-term forecasts suggest an even deeper value is present.

Chart price action has been bullish following the release. Braze’s market confirmed support at a cluster of moving averages and then advanced above a critical support target. The setup in June suggests that a move toward the next critical resistance level near $32.50 is likely and may be reached by the end of the month.

A move above $32.50 would strengthen this market. Braze’s biggest risks are macroeconomic headwinds and their impact on IT spending, but it doesn’t appear to be a significant problem now. Other threats include the potential commoditization of AI services due to intense competition from larger players.

Should You Invest $1,000 in Braze Right Now?Before you consider Braze, you'll want to hear this.

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