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Shares of customer engagement platform company Braze Inc (NASDAQ:BRZE) are ripping higher in extended trading Thursday on better-than-expected financial results for the first quarter.
What Happened: Braze reported first-quarter revenue of $135.459 million, beating estimates of $131.668 million. Total revenue was up 33.1% year-over-year, primarily driven by new customers, upsells and renewals.
Braze reported a first-quarter adjusted loss of 5 cents per share, beating estimates for a loss of 10 cents per share, according to Benzinga Pro.
“We are off to a solid start in fiscal 2025, delivering strong results in an uneven macro, driven by returns from our long-term investments and consistent execution,” said Bill Magnuson, co-founder and CEO of Braze.
Total customers increased to 2,102 as of April 30, up from 1,866 year-over-year. The company generated $11.4 million of free cash flow in the quarter and ended the period with $487.7 million in cash, equivalents, restricted cash and marketable securities.
Braze expects second-quarter revenue to be between $140.5 million and $141.5 million versus estimates of $139.781 million. The company anticipates a second-quarter adjusted earnings loss of 3 cents to 4 cents per share versus estimates for a loss of 4 cents per share.
Braze sees full-year revenue in the range of $577 million to $581 million versus estimates of $573.972 million. The company expects a full-year adjusted earnings loss of 6 cents to 10 cents per share versus estimates for a loss of 9 cents per share.
“Our focus remains on product differentiation, sales and marketing efficiency, and strengthening our foundations for future growth, including with global expansion that helps our customers around the world execute outstanding customer engagement at scale,” Magnuson said.
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BRZE Price Action: Braze shares were up 15.6% at $42.50 in Thursday’s after-hours session at publication time, per Benzinga Pro.
Photo: Shutterstock.
Posted In: BRZE
