Slide 1: Fiscal Q2 2027 Earnings Results
Fiscal Q2 2027 Earnings Results September 8, 2026
Slide 2: Braze Financial Highlights
Braze Financial Highlights $909M QUARTERLY REVENUE RUN RATE 1 26% YoY REVENUE 2,789 CUSTOMERS IN 89 COUNTRIES GROWTH 110% DOLLAR-BASED NET RETENTION 91% SUBSCRIPTION $18M GAAP RATE REVENUE NET LOSS Data as of July 31, 2026 or the three months ended, as applicable 1. Represents quarterly GAAP revenue
Slide 3: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer Forward-Looking Statements This presentation contains, and statements made during this presentation contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including bu
Slide 4: Q2'27 Financial Results Highlights
Q2'27 Financial Results Highlights • Revenue of $227.2 million, up 26.2% YoY and 7.7% sequentially • GAAP gross margin of 66.8%, down 90 basis points YoY; non-GAAP gross margin of 68.6%, down 70 basis points YoY • Dollar-based net retention rate of 110% compared to 108% in the prior year quarter and
Slide 5: Recent Business Highlights
Recent Business Highlights Business Highlights • Notable new business wins and existing customer expansions in the quarter included Boots Thailand, Chime, David Jones, Foxtel Group, Insurify - the leading U.S. insurance marketplace, Omaze UK, Property Finder, and Wilson Sporting Goods. • At Cannes L
Slide 6: Recent Innovations & Partnerships
Recent Innovations & Partnerships Innovations and Partnerships • Expanded BrazeAI Operator™ to take action across the full Braze platform, including the ability to build new Canvas steps from conversational prompts, making it easier for marketers to create sophisticated customer journeys that reflec
Slide 7: Management Team Updates
Management Team Updates Management Team Updates • Pearce Dolan joined the company as Chief Product Officer on August 24, 2026 to lead product strategy and vision, accelerating Braze's momentum at the frontier of AI-driven customer engagement. Mr. Dolan brings nearly 20 years of experience in product
Slide 8: Quarterly Revenue
Quarterly Revenue DOLLARS IN MILLIONS $227.2 $211.0 $205.2 $190.8 $180.1 $145.5 $152.1 $160.4 $162.1 26.2% Q2'27 YoY REVENUE GROWTH 27.9% 30.2% 26.4% 25.5% 26.2% 22.7% 22.5% 23.8% 19.6% FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 Reported Revenue YoY Revenue Grow
Slide 9: Non-GAAP Gross Margin
Non-GAAP Gross Margin 68.6% 70.9% 70.5% 69.9% 69.3% 69.3% 69.1% 68.6% Q2'27 NON-GAAP 67.2% 67.4% GROSS MARGIN FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 9
Slide 10: Dollar-Based Net Retention
Dollar-Based Net Retention 110% 114% 113% 111% 109% 110% 110% Q2'27 NET DOLLAR- 108% 108% 109% BASED RETENTION RATE FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 10
Slide 11: Braze Customers
Braze Customers Total Customers Customers with over $500K ARR 361 2,789 349 2,713 333 2,609 2,528 2,422 303 2,342 2,296 282 2,211 2,163 262 247 222 234 15% Q2'27 YoY CUSTOMER GROWTH 28% Q2'27 YoY GROWTH 35% OF $500K+ ARR 33% 28% 27% 29% 28% CUSTOMERS 24% 22% 24% 14% 16% 15% 12% 12% 14% 10% 10% 11% F
Slide 12: Free Cash Flow
Free Cash Flow DOLLARS IN MILLIONS 12.7% 14.1% $21.7 9.6% $22.9 9.3% $21.7 9.5% 6.8% $15.2 $26.8 $13.9 5.0% $17.8 2.0% $21.7M $7.2 $3.5 Q2'27 FREE CASH FLOW ($18.7) ($14.2) ($28.1) (9.4)% FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’26 Q1 FY’26 Q2 FY’26 Q3 FY’26 Q4 FY’27 Q1 FY’27 Q2 Free Cash Flow Free Cash Flow M
Slide 13: Remaining Performance Obligations
Remaining Performance Obligations DOLLARS IN MILLIONS +27% YoY +24% YoY 1,079.2 1,092.5 1,033.0 862.2 891.4 670.3 691.1 642.1 558.2 572.7 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 Less than 1 year Total RPO 13
Slide 14: Guidance
Guidance DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE AMOUNTS Metric Q3'27 Guidance FY’27 Guidance Revenue $229.0 - 230.0 $910.0 - 913.0 Non-GAAP Operating Income $16.0 - 17.0 $75.5 - 76.5 Non-GAAP Net Income $15.0 - 16.0 $72.5 - 73.5 Non-GAAP Net Income Per Share $0.13 - 0.14 $0.64 - 0.65 Weigh
Slide 15: Appendix
Appendix
Slide 16: Operating Metrics - Definitions
Operating Metrics - Definitions Number of Customers: We define a customer, as of period end, as the separate and distinct, ultimate parent-level entity that has an active subscription with us to use our products. A single organization could have multiple distinct contracting divisions or subsidiarie
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation DOLLARS IN THOUSANDS Reconciliation of GAAP to Non-GAAP Gross Margin Reconciliation of GAAP to Non-GAAP Operating Expenses Three Months Ended Six Months Ended Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, 2026 2025 2026 2025 2026 2025 2026 20
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS Reconciliation of GAAP to Non-GAAP Operating Income (Loss) Reconciliation of GAAP to Non-GAAP Net Income Three Months Ended Six Months Ended Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, 2026 202
Slide 19: GAAP Cash Flows from Operations to Free Cash Flow
GAAP Cash Flows from Operations to Free Cash Flow DOLLARS IN THOUSANDS Reconciliation of GAAP Cash Flow from Operating Activities to Non-GAAP Free Cash Flow Three Months Ended Six Months Ended July 31, July 31, 2026 2025 2026 2025 Net cash provided by operating $24,212 $6,952 $52,338 $31,096 activit
Slide 20: GAAP to Non-GAAP Gross Margin Reconciliation
GAAP to Non-GAAP Gross Margin Reconciliation DOLLARS IN THOUSANDS FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 Gross Profit $102,079 $106,142 $111,087 $111,202 $121,890 $128,211 $134,354 $138,663 $151,856 Plus: Stock-based 1,078 1,003 977 1,077 1,348 1,278 1,126 1
Slide 21: GAAP to Non-GAAP Free Cash Flow Reconciliation
GAAP to Non-GAAP Free Cash Flow Reconciliation DOLLARS IN THOUSANDS FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'27 Q2 Net cash provided by/(used in) $11,612 ($11,410) $17,083 $24,144 $6,952 $20,967 $19,375 $28,126 $24,212 operating activities Less: Purchases of propert
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