NASDAQ$BRZE
Braze Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Braze's Q1 2023 revenue increased by 61.9% year-over-year, reaching $77.5 million, and the company achieved a dollar-based net retention rate of 127%.
Braze reported strong first quarter fiscal 2023 results, with revenue growing 61.9% year-over-year to $77.5 million. The company's dollar-based net retention rate was 127% for the trailing 12 months, and it generated $15.7 million in free cash flow.
- Revenue was $77.5 million, up 61.9% year-over-year.
- Subscription revenue reached $72.8 million, compared to $44.7 million in the same quarter of the previous year.
- Dollar-based net retention rate was 127% for the trailing 12 months.
- Free cash flow was $15.7 million, compared to $(4.6) million in the same quarter of the previous year.
Headline financials
Revenue & EPS history
Braze · Revenue · Quarterly
$77.5M
Revenue by segment
Braze · $77.5M total across 2 segments · Q1 2023
- Subscription$72.8M+62.9%93.9%
- Professional Services$4.7M+46.9%6.1%
Forward guidance
Braze is initiating guidance for the fiscal second quarter ending July 31, 2022 and updating guidance for the fiscal year ending January 31, 2023.
Tailwinds
- Revenue for Q2 2023 is expected to be between $80.5 million and $81.5 million.
- Revenue for the full year 2023 is projected to be between $345.0 million and $349.0 million.
- Non-GAAP operating loss for Q2 2023 is anticipated to be between $(19.5) million and $(20.5) million.
- Non-GAAP operating loss for the full year 2023 is expected to be between $(77.0) million and $(81.0) million.
- Non-GAAP net loss per share for the full year 2023 is projected to be between $(0.78) and $(0.82).
Headwinds
- Non-GAAP operating loss for Q2 2023 is expected to be between $(19.5) million and $(20.5) million.
- Non-GAAP net loss for Q2 2023 is anticipated to be between $(18.5) million and $(19.5) million.
- Non-GAAP net loss per share for Q2 2023 is projected to be between $(0.19) and $(0.20).
- Non-GAAP operating loss for the full year 2023 is expected to be between $(77.0) million and $(81.0) million.
- Non-GAAP net loss for the full year 2023 is anticipated to be between $(74.5) million and $(78.5) million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+1.3%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-4.5%
Avg return
30 days after
52%
12 / 23 earnings
Positive
+22.1%
Q3 2022
Best reaction
-18.8%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | -1.3% | +1.2% | -0.2% | |
| Q3 2026 | +17.7% | +8.1% | -1.9% | |
| Q2 2026 | +13.5% | +8.7% | +2.7% | |
| Q1 2026 | -17.7% | -21.2% | -20.3% | |
| Q4 2025 | +2.2% | -1.1% | -14.9% | |
| Q3 2025 | -1.2% | +0.4% | +6.5% | |
| Q2 2025 | -17.6% | -20.6% | -28.0% | |
| Q1 2025 | +1.7% | +0.5% | +8.3% | |
| Q4 2024 | -10.4% | -13.3% | -15.6% | |
| Q3 2024 | -4.6% | -5.5% | -16.4% | |
| Q2 2024 | +3.0% | -0.9% | -0.5% | |
| Q1 2024 | +16.0% | +22.2% | +22.7% | |
| Q4 2023 | +9.6% | +12.7% | -6.8% | |
| Q3 2023 | +0.2% | -2.7% | +2.3% | |
| Q2 2022 | -16.7% | -19.3% | -32.3% | |
| Q2 2023 | -18.8% | -18.8% | -28.6% | |
| Q1 2022 | +14.5% | +12.9% | +43.5% | |
| Q1 2023 | -2.1% | +1.4% | +29.8% | |
| Q4 2020 | -7.1% | -13.0% | -7.8% | |
| Q4 2022 | -11.8% | -13.9% | -14.5% | |
| Q4 2021 | +16.9% | +19.9% | -14.2% | |
| Q3 2021 | +22.1% | +24.1% | -8.4% | |
| Q3 2022 | +22.1% | +24.1% | -8.4% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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