Slide 1: Q3 Fiscal 2025 Earnings Results
Q3 Fiscal 2025 Earnings Results December 9, 2024
Slide 2: Braze Financial Highlights
Braze Financial Highlights $608M QUARTERLY REVENUE RUN 23% YoY REVENUE 2,211 CUSTOMERS IN OVER 75 RATE 1 GROWTH COUNTRIES 113% DOLLAR-BASED NET 96% SUBSCRIPTION $28M GAAP RETENTION RATE REVENUE NET LOSS Data as of October 31, 2024 or the three months ended, as applicable 1. Represents quarterly GAAP
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: Q3'25 Financial Results Highlights
Q3’25 Financial Results Highlights ● Revenue of $152.1 million, up 22.7% YoY and 4.5% sequentially ● GAAP gross margin of 69.8%, down 90 basis points YoY; non-GAAP gross margin of 70.5%, down 90 basis points YoY ● Dollar-based net retention rate of 113% compared to 118% in the prior year quarter and
Slide 5: Q3'25 Recent Business Highlights
Q3’25 Recent Business Highlights ● Notable new business wins and upsells in the quarter included AEON Financial Services Co. Ltd, Burpple, Crumbl Cookies, E.On Next, Exact Sciences, Hugo Boss, Ippen Digital, Kurt Geiger, Love’s Travel Stops & Country Stores, LUSH Cosmetics, Rightmove, SMARTNEWS, INC
Slide 6: Quarterly Revenue
Quarterly Revenue DOLLARS IN MILLIONS 22.7% Q3’25 YoY REVENUE GROWTH Reported Revenue YoY Revenue Growth 6
Slide 7: Non-GAAP Gross Margin
Non-GAAP Gross Margin 70.5% Q3’25 NON-GAAP GROSS MARGIN 7
Slide 8: Dollar-Based Net Retention
Dollar-Based Net Retention 113% Q3’25 NET DOLLAR- BASED RETENTION RATE 8
Slide 9: Braze Customers
Braze Customers Total Customers Customers with over $500K ARR 10% Q3'25 YoY CUSTOMER GROWTH 24% Q3’25 YoY GROWTH OF $500K+ ARR CUSTOMERS Total Customers Total Customers YoY Growth Customers with $500K+ ARR Customers with $500K+ ARR YoY Growth 9
Slide 10: Free Cash Flow
Free Cash Flow DOLLARS IN MILLIONS 21.3% $21.7 $15.7 8.4% $11.4 5.0% $7.2 ($1.9) (1.9)% ($5.9) (4.8)% ($3.5) (2.7)% ($14.2)M ($14.2) Q3’25 FREE CASH FLOW ($18.7) (9.4)% (16.2)% ($28.1) (30.1)% FY’23 Q3 FY’23 Q4 FY’24 Q1 FY’24 Q2 FY’24 Q3 FY’24 Q4 FY’25 Q1 FY’25 Q2 FY’25 Q3 Free Cash Flow Free Cash F
Slide 11: Remaining Performance Obligations
Remaining Performance Obligations DOLLARS IN MILLIONS +28% YoY +24% YoY Less than 1 year Total RPO 11
Slide 12: Guidance
Guidance DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE AMOUNTS Metric Q4’25 Guidance FY’25 Guidance Revenue $155.0 - 156.0 $588.0 - 589.0 Non-GAAP Operating Income $2.0 - 3.0 $(5.0 - 6.0) (Loss) Non-GAAP Net Income $5.0 - 6.0 $11.0 - 12.0 Non-GAAP Net Income Per $0.05 - 0.06 $0.10 - 0.11 Share We
Slide 13: Appendix
Appendix
Slide 14: Operating Metrics - Definitions
Operating Metrics - Definitions Number of Customers: We define a customer 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 subsidiaries, all of which toget
Slide 15: 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 Nine Months Ended Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2024 2023 2024 2023 202
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS Reconciliation of GAAP to Non-GAAP Operating Loss Reconciliation of GAAP to Non-GAAP Net Income (Loss) Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended October 31, October 31, October 31, October
Slide 17: 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 Nine Months Ended October 31, October 31, 2024 2023 2024 2023 Net cash provided by/ (used in) ($11,410) ($2,003) $19,597 $3,
Slide 18: GAAP to Non-GAAP Gross Margin Reconciliation
GAAP to Non-GAAP Gross Margin Reconciliation DOLLARS IN THOUSANDS FY’23 Q3 FY’23 Q4 FY’24 Q1 FY’24 Q2 FY’24 Q3 FY’24 Q4 FY’25 Q1 FY’25 Q2 FY’25 Q3 Gross Profit $63,990 $65,250 $69,093 $79,633 $87,582 $87,965 $90,911 $102,079 $106,142 Plus: Stock-based 889 896 889 901 900 895 964 1,078 1,003 compensat
Slide 19: GAAP to Non-GAAP Free Cash Flow Reconciliation
GAAP to Non-GAAP Free Cash Flow Reconciliation DOLLARS IN THOUSANDS FY’23 Q3 FY’23 Q4 FY’24 Q1 FY’24 Q2 FY’24 Q3 FY’24 Q4 FY’25 Q1 FY’25 Q2 FY’25 Q3 Net cash provided by/(used in) ($23,920) $12 $22,549 ($17,517) ($2,003) $3,821 $19,395 $11,612 ($11,410) operating activities Less: Purchases of proper
Slide 20: braze