Table of Contents
Overview of Financial Results
Braze, Inc., a leading customer engagement platform, has reported its financials for the first quarter of the fiscal year 2023, indicating a robust financial position as of April 30, 2023. The company’s latest SEC filing reveals increased cash and cash equivalents, alongside other key financial metrics.
According to the unaudited condensed consolidated balance sheets, Braze, Inc., traded under the ticker symbol BRZE, closed the quarter with cash and cash equivalents totaling $116,932, compared to $68,587 at the end of the previous quarter, which was January 31, 2023. This substantial increase underscores Braze’s solid liquidity and operational efficiency amid a complex economic landscape.
Key Financial Indicators
Assessing the condensed consolidated statements of operations, the firm continues its pursuit to scale and remain competitive in the ever-evolving technology sector. While specific revenue figures have not been disclosed in the extracted section of the SEC report, the company’s overall financial health appears resilient, as indicated by its cash reserves.
The report also provides insights into the number of shares of common stock issued by the company. As of June 1, 2023, Braze, Inc. had 63,842,793 shares of Class A and 33,744,159 shares of Class B common stock outstanding, each with a par value of $0.0001 per share.
Strategic Investments and Future Outlook
Braze’s growth strategy is characterized by investments in its platform, marketing efforts, and talent acquisition, which are critical to expanding its customer base and enhancing service delivery. The balance sheets also reflect these strategic movements with listings such as software development, computer equipment, and leasehold improvements.
The filing declares the company’s commitment to innovation and its confidence in its future outlook. Despite the lack of detailed financial performance figures such as revenue growth, expense tracking, and profitability, Braze’s increased cash and cash equivalent reserves indicate a potential for sustainable growth and investment in key areas of its business.
Operational Efficiency and Market Position
Braze appears to maintain a forward-looking approach, investing in marketing, research and development, and general administrative functions to increase platform utility and maintain a competitive edge. The condensed consolidated statements of cash flows would provide a more comprehensive overview of how efficiently the company is using its funds across various operational activities.
In addition, the company’s notes on forward-looking statements elaborate on the risks and uncertainties inherent in business operations, which may impact the company’s actual performance compared to these anticipations. This caution reflects the dynamic nature of the industry and the need for adaptive strategies.
Conclusion
In conclusion, Braze, Inc.’s first-quarter report for fiscal year 2023 reflects a company in a strong cash position, ready to navigate the challenges and opportunities ahead. With substantial liquidity and a clear direction outlined for growth and innovation, Braze continues to establish itself as a considerable player in the customer engagement platform market. Investors and stakeholders will likely monitor upcoming reports for performance metrics that offer insights into revenue trends, operational costs, and the overall execution of the company’s strategic growth initiatives.
Income Statement
Financials in millions USD. Fiscal year is February – January. source
| Year | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| 0 | Revenue | 355.43 | 238.04 | 150.19 | 96.36 |
| 1 | Revenue Growth (YoY) | 49.32% | 58.49% | 55.86% | – |
| 2 | Cost of Revenue | 115.82 | 78.51 | 54.51 | 35.69 |
| 3 | Gross Profit | 239.61 | 159.52 | 95.68 | 60.68 |
| 4 | Selling, General & Admin | 290.46 | 178.7 | 98.62 | 73.87 |
| 5 | Research & Development | 97.29 | 59.03 | 29.21 | 20.34 |
| 6 | Operating Expenses | 387.75 | 237.74 | 127.83 | 94.21 |
| 7 | Operating Income | -148.14 | -78.21 | -32.15 | -33.53 |
| 8 | Other Expense / Income | -9.76 | -1.33 | -0.94 | -2.18 |
| 9 | Pretax Income | -138.38 | -76.88 | -31.22 | -31.36 |
| 10 | Income Tax | 0.58 | -0.17 | 0.54 | 0.45 |
| 11 | Net Income | -138.97 | -76.72 | -31.75 | -31.81 |
| 12 | Shares Outstanding (Basic) | 95 | 35 | 18 | 16 |
| 13 | Shares Outstanding (Diluted) | 95 | 35 | 18 | 16 |
| 14 | Shares Change | 170.99% | 94.17% | 11.01% | – |
| 15 | EPS (Basic) | -1.47 | -2.20 | -1.77 | -1.96 |
| 16 | EPS (Diluted) | -1.47 | -2.20 | -1.77 | -1.96 |
| 17 | Free Cash Flow | -39.01 | -39.77 | -10.43 | -9.92 |
| 18 | Free Cash Flow Per Share | -0.41 | -1.14 | -0.58 | -0.61 |
| 19 | Gross Margin | 67.41% | 67.02% | 63.71% | 62.97% |
| 20 | Operating Margin | -41.68% | -32.86% | -21.41% | -34.80% |
| 21 | Profit Margin | -39.10% | -32.23% | -21.14% | -33.01% |
| 22 | Free Cash Flow Margin | -10.98% | -16.71% | -6.95% | -10.29% |
| 23 | EBITDA | -133.77 | -74.11 | -29.63 | -30.71 |
| 24 | EBITDA Margin | -37.64% | -31.13% | -19.73% | -31.87% |
| 25 | Depreciation & Amortization | 4.62 | 2.77 | 1.59 | 0.65 |
| 26 | EBIT | -138.38 | -76.88 | -31.22 | -31.36 |
| 27 | EBIT Margin | -38.93% | -32.30% | -20.78% | -32.54% |
Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!