Braze Inc

Latest Results (06.04.2026):

Braze Inc — fiscal fourth quarter of fiscal year 2026: Braze reported strong top-line growth with Q4 revenue of $205.2M (up 27.9% year‑over‑year) and full‑year revenue of $738.2M (up 24.4%). The company showed positive non‑GAAP operating income and free cash flow for the year, announced a $100M share repurchase program (including a $50M accelerated buyback), and provided FY‑2027 guidance while highlighting rapid adoption of its BrazeAI product suite.

Revenue

Q4 FY2026 revenue was $205.2M vs. $160.4M in Q4 FY2025 (+27.9%). Fiscal 2026 revenue was $738.2M vs. $593.4M in FY2025 (+24.4%). Q4 subscription revenue was $193.5M and professional services/other was $11.7M.

Bookings and Commercial Momentum

Quarterly bookings grew by more than 50% year‑over‑year, driven by enterprise wins and expansions; total customers rose to 2,609 (from 2,296), and customers with ARR ≥ $500K increased to 333 (from 247).

Retention & Contract Visibility

Trailing 12‑month dollar‑based net retention was 109% (all customers) and 110% for customers with ARR ≥ $500K. Remaining performance obligations were $1.0B, with $642.1M current (under one year).

Margins

Q4 GAAP gross margin was 65.5% (vs. 69.3% prior year); Q4 non‑GAAP gross margin was 67.2% (vs. 69.9% prior year). Fiscal year GAAP gross margin was 67.1% and non‑GAAP gross margin 68.7%.

Profitability Metrics

Q4 GAAP operating loss was $28.2M; Q4 non‑GAAP operating income was $14.5M. Fiscal FY2026 GAAP operating loss was $144.8M while non‑GAAP operating income was $28.5M. Stock‑based compensation was a significant reconciling item ($37.3M in Q4; $144.9M for FY2026).

EPS and Cash Flow

Q4 GAAP net loss per share was $(0.29) (basic & diluted); Q4 non‑GAAP diluted net income per share was $0.10. FY2026 GAAP net loss per share was $(1.22); FY non‑GAAP diluted net income per share was $0.38. Q4 net cash provided by operating activities was $19.4M and Q4 free cash flow was $13.9M; FY operating cash flow was $71.4M and FY free cash flow was $58.1M.

Balance Sheet / Liquidity

Total cash, cash equivalents, restricted cash, and marketable securities were $415.9M as of January 31, 2026 (down from $514.0M a year earlier). Goodwill and intangibles increased related to recent acquisitions shown on the balance sheet.

Share Repurchase

The board authorized a share repurchase program of up to $100M, and Braze plans an accelerated buyback of approximately $50M imminently.

Outlook

FY2027 guidance: revenue $884.0–889.0M, non‑GAAP operating income $69–73M, non‑GAAP net income per share (diluted) $0.61–0.65 (weighted average shares ~113M). Q1 FY2027 guidance: revenue $204.5–205.5M; non‑GAAP operating income $10–11M; non‑GAAP net income per share $0.10–0.11 (diluted).

Product & Partnerships

Braze emphasized accelerated AI product rollouts (BrazeAI Decisioning Studio scaling; BrazeAI Agent Console™ and BrazeAI Operator™ made generally available) and highlighted partnership enhancements with Snowflake, Shopify, The Trade Desk, and LinkedIn.