NASDAQ$BRZE
Braze Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a strong quarter with revenue growth and strategic investments.
Braze reported a robust fiscal third quarter with a 45.6% increase in revenue year-over-year, driven by new customers, upsells, and renewals. The company continues to invest in technology and customer engagement strategies to drive loyalty and retention.
- Revenue increased by 45.6% year-over-year, reaching $93.1 million.
- Subscription revenue grew to $89.0 million, while professional services revenue was $4.1 million.
- Dollar-based net retention remained strong at 126%.
- Total customer count increased to 1,715, with 148 customers having ARR of $500,000 or more.
Headline financials
Revenue & EPS history
Braze · Revenue · Quarterly
$93.1M
Revenue by segment
Braze · $93.1M total across 2 segments · Q3 2023
- Subscription$89M+50.1%95.6%
- Professional Services$4.1M-12.8%4.4%
Forward guidance
Braze provided revenue guidance of $95.0 - 96.0 million for the fiscal fourth quarter and $352.0 - 353.0 million for the full fiscal year 2023. Non-GAAP operating loss is expected to be $(18.5) - (19.5) million for Q4 and $(71.5) - (72.5) million for the full year.
Tailwinds
- Revenue guidance of $95.0 - 96.0 million for Q4.
- Full year revenue guidance of $352.0 - 353.0 million.
- Focus on continued robust investment.
- Engagement with customer community.
- Creating a generational brand.
Headwinds
- Non-GAAP operating loss guidance of $(18.5) - (19.5) million for Q4.
- Non-GAAP operating loss guidance of $(71.5) - (72.5) million for the full year.
- Uncertainty regarding reconciling items such as stock-based compensation expense.
- Impacted by unpredictable fluctuations in Braze’s stock price.
- Factors could be material to Braze’s results calculated in accordance with GAAP.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2023
+1.1%
Avg return
Earnings day
-0.0%
Avg return
5 days after
-4.7%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+22.1%
Q3 2022
Best reaction
-18.8%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -1.3% | -9.8% | — | |
| Q1 2027 | -4.8% | +4.4% | — | |
| 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro