NASDAQ$BRZE
Braze Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported first quarter revenue growth of 31.3% year-over-year, achieving dollar-based net retention of 122% and positive free cash flow.
Braze reported strong first quarter fiscal year 2024 results, with revenue up 31.3% year-over-year to $101.8 million and a dollar-based net retention rate of 122%. The company also generated $21.7 million in free cash flow.
- Revenue was $101.8 million, up 31.3% year-over-year.
- Subscription revenue was $97.1 million, compared to $72.8 million in the first quarter of the fiscal year ended January 31, 2023.
- Dollar-based net retention was 122% for the trailing 12 months.
- Free cash flow was $21.7 million.
Headline financials
Revenue & EPS history
Braze · Revenue · Quarterly
$102M
Revenue by segment
Braze · $102M total across 2 segments · Q1 2024
- Subscription$97.1M+33.4%95.5%
- Professional Services$4.6M-2.1%4.5%
Forward guidance
Braze is initiating guidance for the fiscal second quarter ending July 31, 2023, and updating guidance for the fiscal year ending January 31, 2024.
Tailwinds
- Revenue Q2 2024 Guidance: $108.0 - 109.0 million
- Revenue FY 2024 Guidance: $442.5 - 446.5 million
- Non-GAAP operating loss Q2 2024 Guidance: $(15.0) - (16.0) million
- Non-GAAP operating loss FY 2024 Guidance: $(54.0) - (58.0) million
- Non-GAAP operating loss margin will be negative 7% or better during the fourth quarter of the fiscal year ending January 31, 2024.
Headwinds
- Non-GAAP net loss Q2 2024 Guidance: $(13.0) - (14.0) million
- Non-GAAP net loss FY 2024 Guidance: $(50.0) - (54.0) million
- Non-GAAP net loss per share Q2 2024 Guidance: $(0.13) - (0.14)
- Non-GAAP net loss per share FY 2024 Guidance: $(0.51) - (0.55)
- Weighted average shares outstanding ~97.4 million for Q2 2024 and ~97.8 million for FY 2024
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 2024
+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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