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Jan 31, 2023
Braze Q4 2023 Earnings Report
Braze's Q4 2023 financial results showcased revenue growth and customer base expansion.
Key Takeaways
Braze reported a 40% increase in revenue for the fourth quarter, reaching $98.7 million, driven by new customers, upsells, and renewals. The company's dollar-based net retention rate was 124%.
Revenue increased by 40% year-over-year to $98.7 million.
Dollar-based net retention was 124% for the trailing 12 months.
GAAP operating loss was $36.5 million, improved from $42.6 million in the prior year.
Net cash provided by operating activities was $0.01 million, compared to net cash used in operating activities of $24.5 million in the prior year.
Braze
Braze
Braze Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Braze provided guidance for the fiscal first quarter ending April 30, 2023, and the full fiscal year ending January 31, 2024. They also provided guidance on its non-GAAP operating loss margin, which it believes will be negative 7% or better during the fourth quarter of the fiscal year ending January 31, 2024.
Positive Outlook
- Revenue Q1 2024 Guidance: $98.5 - 99.5 million
- Revenue FY 2024 Guidance: $433.0 - 438.0 million
- Non-GAAP operating loss Q1 2024 Guidance: $(19.0) - (20.0) million
- Non-GAAP operating loss FY 2024 Guidance: $(57.0) - (61.0) million
- Non-GAAP operating loss margin is expected to be negative 7% or better during the fourth quarter of the fiscal year ending January 31, 2024.
Challenges Ahead
- Non-GAAP net loss Q1 2024 Guidance: $(17.0) - (18.0) million
- Non-GAAP net loss FY 2024 Guidance: $(53.0) - (57.0) million
- Non-GAAP net loss per share Q1 2024 Guidance: $(0.18) - (0.19)
- Non-GAAP net loss per share FY 2024 Guidance: $(0.55) - (0.59)
- Weighted average shares outstanding Q1 2024 Guidance: ~96.2 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income