Braze (BRZE) | Financial Analysis & Statements
Braze Inc. Mid-cap Technology
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Jan 2026Income Metrics
Revenue
205.2M
Gross Profit
134.4M
65.48%
Operating Income
-28.2M
-13.76%
Net Income
-31.6M
-15.39%
Balance Sheet Metrics
Total Assets
1.1B
Total Liabilities
489.6M
Shareholders Equity
624.2M
Debt to Equity
0.78
Cash Flow Metrics
Operating Cash Flow
3.5M
Free Cash Flow
13.9M
Revenue & Profitability Trend
Quarter Income Flow
Jan 31, 2026
Annual Income Flow
2026
Braze Income Statement From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 738.2M | 593.4M | 471.8M | 355.4M | 238.0M |
| Cost of Goods Sold | 242.5M | 183.2M | 147.5M | 115.8M | 78.5M |
| Gross Profit | 495.7M | 410.2M | 324.3M | 239.6M | 159.5M |
| Gross Margin % | 67.1% | 69.1% | 68.7% | 67.4% | 67.0% |
| Operating Expenses | |||||
| Research & Development | 167.1M | 134.0M | 119.9M | 97.3M | 59.0M |
| Selling, General & Administrative | 473.3M | 398.4M | 349.1M | 290.5M | 178.7M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 640.4M | 532.4M | 469.0M | 387.7M | 237.7M |
| Operating Income | -144.8M | -122.2M | -144.7M | -148.1M | -78.2M |
| Operating Margin % | -19.6% | -20.6% | -30.7% | -41.7% | -32.9% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | 506.0K |
| Interest Expense | - | - | - | - | 369.0K |
| Other Non-Operating Income | 16.6M | 21.6M | 16.2M | 8.0M | -121.0K |
| Pre-tax Income | -128.2M | -100.6M | -128.5M | -140.2M | -78.3M |
| Income Tax | 2.6M | 3.4M | 2.0M | 583.0K | -165.0K |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income | -130.8M | -104.0M | -130.4M | -140.7M | -78.2M |
| Net Margin % | -17.7% | -17.5% | -27.6% | -39.6% | -32.8% |
| Key Metrics | |||||
| EBITDA | -125.4M | -112.0M | -137.7M | -143.5M | -75.4M |
| EPS (Basic) | $-1.22 | $-1.02 | $-1.32 | $-1.47 | $-2.20 |
| EPS (Diluted) | $-1.22 | $-1.02 | $-1.32 | $-1.47 | $-2.20 |
| Basic Shares Outstanding | 107906000 | 102189000 | 98096000 | 94569000 | 34897000 |
| Diluted Shares Outstanding | 107906000 | 102189000 | 98096000 | 94569000 | 34897000 |
Income Statement Trend
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Braze Balance Sheet From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 124.3M | 83.1M | 68.2M | 68.6M | 478.9M |
| Short-term Investments | 287.6M | 430.5M | 407.9M | 410.1M | 35.2M |
| Accounts Receivable | 122.4M | 95.2M | 92.3M | 78.3M | 64.5M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 2.5M | 6.2M | 4.6M | 5.4M | 3.6M |
| Total Current Assets | 567.9M | 644.0M | 601.1M | 583.2M | 608.2M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 72.0M | 76.1M | 81.2M | 46.3M | 0 |
| Goodwill | 585.2M | 60.0M | 60.6M | 500.0K | - |
| Intangible Assets | 61.5M | 3.1M | 3.7M | 500.0K | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 107.0M | 80.7M | 67.2M | 55.1M | 50.7M |
| Total Non-Current Assets | 545.8M | 227.0M | 209.8M | 122.2M | 58.1M |
| Total Assets | 1.1B | 871.0M | 810.9M | 705.4M | 666.3M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 1.6M | 2.2M | 6.3M | 3.1M | 2.1M |
| Short-term Debt | 19.3M | 18.2M | 15.6M | 10.7M | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 3.5M | 2.4M | 5.7M | 3.2M | 3.5M |
| Total Current Liabilities | 420.4M | 324.5M | 289.4M | 217.3M | 160.0M |
| Non-Current Liabilities | |||||
| Long-term Debt | 63.4M | 69.3M | 75.0M | 40.6M | 0 |
| Deferred Tax Liabilities | - | - | - | - | 0 |
| Other Non-Current Liabilities | 5.8M | 2.5M | 2.0M | 755.0K | 1.5M |
| Total Non-Current Liabilities | 69.2M | 71.8M | 77.1M | 41.3M | 1.5M |
| Total Liabilities | 489.6M | 396.2M | 366.5M | 258.6M | 161.4M |
| Equity | |||||
| Common Stock | 11.0K | 10.0K | 10.0K | 10.0K | 9.0K |
| Retained Earnings | -718.1M | -586.8M | -483.1M | -353.9M | -215.0M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 624.2M | 474.7M | 444.4M | 446.8M | 504.8M |
| Key Metrics | |||||
| Total Debt | 82.7M | 87.4M | 90.6M | 51.3M | 0 |
| Working Capital | 147.5M | 319.5M | 311.7M | 365.9M | 448.2M |
Balance Sheet Composition
Braze Cash Flow Statement From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -130.8M | -104.0M | -130.4M | -140.7M | -78.2M |
| Depreciation & Amortization | 19.3M | 10.1M | 7.0M | 4.6M | 2.8M |
| Stock-Based Compensation | 143.7M | 115.1M | 97.2M | 72.2M | 47.2M |
| Working Capital Changes | -34.7M | -19.7M | -16.5M | 757.0K | -14.1M |
| Operating Cash Flow | 42.0M | 39.9M | -11.1M | -34.7M | -24.8M |
| Investing Activities | |||||
| Capital Expenditures | -9.6M | -13.2M | -9.8M | -15.4M | -2.3M |
| Acquisitions | -181.9M | 0 | -16.3M | 0 | 0 |
| Investment Purchases | -151.6M | -218.0M | -248.1M | -638.2M | -36.9M |
| Investment Sales | 296.0M | 198.6M | 257.7M | 256.4M | 59.3M |
| Investing Cash Flow | -47.1M | -32.7M | -16.4M | -397.3M | 20.1M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | 0 | 0 |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | - | - |
| Debt Repayment | - | - | - | - | - |
| Financing Cash Flow | - | -2.9M | -165.0K | 0 | 459.6M |
| Free Cash Flow | 58.1M | 19.6M | -6.5M | -39.0M | -39.8M |
| Net Change in Cash | -5.2M | 4.3M | -27.7M | -432.0M | 454.8M |
Cash Flow Trend
Braze Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
-18.40
Forward P/E
22.84
Price to Book
4.06
Price to Sales
3.45
PEG Ratio
-0.26
Profitability Ratios
Profit Margin
-17.79%
Operating Margin
-13.71%
Return on Equity
-23.80%
Return on Assets
-8.36%
Financial Health
Current Ratio
1.35
Debt to Equity
13.24
Beta
0.89
Per Share Data
EPS (TTM)
$-1.22
Book Value per Share
$5.53
Revenue per Share
$6.84
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| BRZE | 2.5B | -18.40 | 4.06 | -23.80% | -17.79% | 13.24 |
| Salesforce | 160.0B | 23.99 | 2.94 | 12.40% | 17.96% | 29.95 |
| Uber Technologies | 153.6B | 15.78 | 5.71 | 39.93% | 19.33% | 43.81 |
| Bentley Systems | 10.1B | 39.34 | 8.80 | 24.91% | 18.50% | 108.01 |
| Altair Engineering | 9.6B | 699.06 | 11.17 | 1.81% | 2.13% | 30.23 |
| InterDigital | 9.3B | 31.84 | 8.78 | 41.53% | 48.76% | 44.71 |
Financial data is updated regularly. All figures are in the company's reporting currency.






