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Apr 30, 2022
Braze Q1 2023 Earnings Report
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%.
Key Takeaways
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.
Braze
Braze
Braze Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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.
Positive Outlook
- 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).
Challenges Ahead
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income