BRZE - Braze, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$42.44
DETAILS
HIGH:
$50.00
LOW:
$30.00
MEDIAN:
$45.00
CONSENSUS:
$42.44
UPSIDE:
74.29%
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue | 738.2 | 593.4 | 471.8 | 355.4 | 238.0 | 150.2 | 96.4 |
| Cost of Revenue | 242.5 | 183.2 | 147.5 | 115.8 | 78.5 | 54.5 | 35.7 |
| Gross Profit | 495.7 | 410.2 | 324.3 | 239.6 | 159.5 | 95.7 | 60.7 |
| Operating Expenses | |||||||
| R&D Expenses | 167.1 | 134.0 | 119.9 | 97.3 | 59.0 | 29.2 | 20.3 |
| SG&A Expenses | 473.3 | 398.4 | 349.1 | 290.5 | 178.7 | 98.6 | 73.9 |
| Other Expenses | (12) | 0 | 0 | 0 | 0 | 0 | 0.0 |
| Operating Expenses | 628.4 | 532.4 | 469.0 | 387.7 | 237.7 | 127.8 | 94.2 |
| Operating Income | |||||||
| Operating Income | (132.8) | (122.2) | (144.7) | (148.1) | (78.2) | (32.2) | (33.5) |
| Interest Expense | 0 | 0 | 0 | 0 | 0.4 | 0.3 | 0 |
| Interest Income | 15.7 | 20.2 | 0 | 8.7 | 0.5 | 1.2 | 2.1 |
| Profitability | |||||||
| EBITDA | (113.4) | (112.0) | (137.7) | (143.5) | (75.6) | (30.6) | (33.0) |
| EBIT | (132.8) | (122.2) | (144.7) | (148.1) | (78.2) | (32.2) | (33.5) |
| Income Before Tax | (128.2) | (100.6) | (128.5) | (140.2) | (78.3) | (31.4) | (31.4) |
| Income Tax Expense | 2.6 | 3.4 | 2.0 | 0.6 | (0.2) | 0.5 | 0.5 |
| Net Income | (131.3) | (103.7) | (129.2) | (139.0) | (76.7) | (32.0) | (31.8) |
| Per Share Data | |||||||
| EPS (Basic) | -1.22 | -1.02 | -1.32 | -1.47 | -0.83 | -0.35 | -1.87 |
| EPS (Diluted) | -1.22 | -1.02 | -1.32 | -1.47 | -0.83 | -0.35 | -1.87 |
| Shares Outstanding | 107.9 | 102.2 | 98.1 | 94.6 | 93.0 | 92.1 | 17.0 |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 124.3 | 83.1 | 68.2 | 68.6 | 478.9 | 28.5 | 6.7 |
| Short-Term Investments | 287.6 | 430.5 | 407.9 | 410.1 | 35.2 | 58.0 | 85.2 |
| Net Receivables | 122.3 | 102.0 | 97.3 | 78.3 | 64.5 | 34.8 | 23.3 |
| Inventory | 0 | 0 | 0 | 0 | 24.9 | 0 | 0 |
| Other Current Assets | 33.7 | 6.2 | 8.0 | 26.2 | 4.7 | 11.5 | 10.9 |
| Total Current Assets | 567.9 | 644.0 | 601.1 | 583.2 | 608.2 | 134.0 | 127.0 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 115.5 | 114.7 | 110.5 | 66.6 | 7.4 | 5.5 | 2.5 |
| Goodwill | 261.9 | 28.4 | 28.4 | 0 | 0 | 0 | 0 |
| Intangible Assets | 61.5 | 3.1 | 3.7 | 0.5 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 4.0 | 4.0 | 4.0 | 4.5 |
| Other Non-Current Assets | 107.0 | 80.7 | 67.2 | 51.6 | 50.7 | 31.9 | 23.5 |
| Total Non-Current Assets | 545.8 | 227.0 | 209.8 | 122.2 | 58.1 | 37.4 | 26.1 |
| Total Assets | 1,113.8 | 871.0 | 810.9 | 705.4 | 666.3 | 171.4 | 153.1 |
| Current Liabilities | |||||||
| Account Payables | 1.6 | 2.1 | 6.3 | 3.1 | 2.1 | 0.4 | 1.2 |
| Short-Term Debt | 19.3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 304.6 | 240.0 | 204.3 | 166.1 | 126.3 | 74.8 | 51.4 |
| Other Current Liabilities | 95.0 | 31.4 | 41.7 | 22.6 | 11.6 | 13.0 | 4.4 |
| Total Current Liabilities | 420.4 | 324.5 | 289.4 | 217.3 | 160.0 | 101.1 | 64.3 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 63.4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0.1 | 0.0 |
| Other Non-Current Liabilities | 5.8 | 2.5 | 2.0 | 0.8 | 1.5 | 176.5 | 175.7 |
| Total Non-Current Liabilities | 69.2 | 71.8 | 77.1 | 41.3 | 1.5 | 176.5 | 175.7 |
| Total Liabilities | 489.6 | 396.2 | 366.5 | 258.6 | 161.4 | 277.7 | 239.9 |
| Stockholders' Equity | |||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0 | 0 |
| Retained Earnings | (718.1) | (586.8) | (483.1) | (353.9) | (215.0) | (138.2) | (106.5) |
| Accumulated Other Comprehensive Income | 1.8 | (0.9) | (1.2) | (6.8) | (0.6) | (0.0) | 0.0 |
| Total Stockholders' Equity | 623.8 | 474.9 | 444.2 | 445.3 | 501.6 | (108.5) | (86.9) |
| Total Liabilities & Equity | 1,113.8 | 871.0 | 810.9 | 705.4 | 666.3 | 171.4 | 153.1 |
| Debt Metrics | |||||||
| Total Debt | 82.7 | 87.4 | 90.6 | 51.3 | 0 | 0 | 0 |
| Net Debt | (41.7) | 4.4 | 22.4 | (17.3) | (478.9) | (28.5) | (6.7) |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | (130.8) | (104.0) | (129.2) | (140.7) | (78.2) | (32.0) | (31.8) |
| Depreciation & Amortization | 41.3 | 10.1 | 7.0 | 4.6 | 2.8 | 1.6 | 0.6 |
| Stock-Based Compensation | 143.7 | 115.1 | 97.2 | 72.2 | 47.2 | 7.5 | 12.4 |
| Change in Working Capital | (4.9) | (22.6) | 1.1 | 9.4 | (25.7) | 4.7 | 5.2 |
| Other Non-Cash Items | 22.1 | 38.1 | 30.8 | 31.7 | 18.6 | 12.0 | 6.1 |
| Operating Cash Flow | 71.4 | 36.7 | 6.8 | (22.3) | (35.4) | (6.1) | (7.4) |
| Investing Activities | |||||||
| Capital Expenditure | (9.6) | (13.2) | (9.8) | (16.7) | (4.4) | (4.4) | (2.6) |
| Acquisitions | (181.9) | 0 | (16.3) | 1.3 | 2.1 | 1.9 | 0.8 |
| Purchases of Investments | (151.6) | (218.0) | (248.1) | (638.2) | (36.9) | (59.4) | (123.1) |
| Sales/Maturities of Investments | 175.2 | 198.6 | 257.7 | 256.4 | 59.3 | 86.2 | 38.5 |
| Other Investing Activities | 117.0 | (3.8) | (3.6) | (1.3) | (2.1) | (1.9) | (0.8) |
| Investing Cash Flow | (50.9) | (36.5) | (20.0) | (398.5) | 18.0 | 22.5 | (87.2) |
| Financing Activities | |||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | (0.0) | (0.2) | (0.0) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 0 | 5.7 | 5.1 | 1.3 |
| Financing Cash Flow | 23.0 | 11.7 | 13.1 | 11.3 | 467.9 | 4.9 | 1.3 |
| Cash Position | |||||||
| Net Change in Cash | 44.7 | 11.5 | (0.5) | (410.4) | 450.0 | 21.4 | (93.3) |
| Cash at Beginning | 83.6 | 72.1 | 72.6 | 483.0 | 33.0 | 11.6 | 104.9 |
| Cash at End | 128.3 | 83.6 | 72.1 | 72.6 | 483.0 | 33.0 | 11.6 |
| Free Cash Flow | 61.9 | 23.4 | (2.9) | (39.0) | (39.8) | (10.4) | (9.9) |
| Key Metrics | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 738.2 | 593.4 | 471.8 | 355.4 | 238.0 | 150.2 | 96.4 |
| Gross Profit | 495.7 | 410.2 | 324.3 | 239.6 | 159.5 | 95.7 | 60.7 |
| Operating Income | (132.8) | (122.2) | (144.7) | (148.1) | (78.2) | (32.2) | (33.5) |
| Net Income | (131.3) | (103.7) | (129.2) | (139.0) | (76.7) | (32.0) | (31.8) |
| EPS (Diluted) | -1.22 | -1.02 | -1.32 | -1.47 | -0.83 | -0.35 | -1.87 |
| Balance Sheet | |||||||
| Cash & Equivalents | 124.3 | 83.1 | 68.2 | 68.6 | 478.9 | 28.5 | 6.7 |
| Total Assets | 1,113.8 | 871.0 | 810.9 | 705.4 | 666.3 | 171.4 | 153.1 |
| Total Debt | 82.7 | 87.4 | 90.6 | 51.3 | 0 | 0 | 0 |
| Stockholders' Equity | 623.8 | 474.9 | 444.2 | 445.3 | 501.6 | (108.5) | (86.9) |
| Cash Flow | |||||||
| Operating Cash Flow | 71.4 | 36.7 | 6.8 | (22.3) | (35.4) | (6.1) | (7.4) |
| Capital Expenditure | (9.6) | (13.2) | (9.8) | (16.7) | (4.4) | (4.4) | (2.6) |
| Free Cash Flow | 61.9 | 23.4 | (2.9) | (39.0) | (39.8) | (10.4) | (9.9) |