Slide 1: Q1 Fiscal 2027 Earnings Results
Q1 Fiscal 2027 Earnings Results May 27, 2026
Slide 2: Braze Financial Highlights
Braze Financial Highlights $844M QUARTERLY REVENUE RUN RATE 1 30% YoY REVENUE 2,713 CUSTOMERS IN 87 GROWTH COUNTRIES 110% DOLLAR-BASED NET RETENTION 93% SUBSCRIPTION $25M GAAP RATE REVENUE NET LOSS Data as of April 30, 2026 or the three months ended, as applicable 1. Represents quarterly GAAP revenu
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: Q1'27 Financial Results Highlights
Q1'27 Financial Results Highlights • Revenue of $211.0 million, up 30.2% YoY and 3% sequentially • GAAP gross margin of 65.7%, down 290 basis points YoY; non-GAAP gross margin of 67.4%, down 190 basis points YoY • Dollar-based net retention rate of 110% compared to 109% in the prior year quarter and
Slide 5: Recent Business Highlights & Innovations
Recent Business Highlights & Innovations Business Highlights • Notable new business wins and existing customer expansions in the quarter included Bondora Group, ClassPass, Denny’s, Deuna, Kueski, NRMA, Regal Cinemas, Salomon, and Subway. • Hosted nearly 1,200 in-person attendees at City x City Londo
Slide 6: Management Team Updates
Management Team Updates Management Team Updates • Chris Lal joined the company as General Counsel on May 15, 2026 to lead global legal, strategic and governance matters, including intellectual property, privacy, commercial, corporate, employment and responsible-AI initiatives. Mr. Lal brings deep ex
Slide 7: Quarterly Revenue
Quarterly Revenue DOLLARS IN MILLIONS $211.0 $205.2 $190.8 $180.1 $160.4 $162.1 30.2% $152.1 $145.5 $135.5 Q1'27 YoY REVENUE GROWTH 33.1% 27.9% 30.2% 26.4% 25.5% 22.7% 22.5% 23.8% 19.6% FY'25 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 Reported Revenue YoY Revenue Grow
Slide 8: Non-GAAP Gross Margin
Non-GAAP Gross Margin 67.4% 67.9% 70.9% 70.5% 69.9% 69.3% 69.3% 69.1% Q1'27 NON-GAAP 67.2% 67.4% GROSS MARGIN FY'25 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 8
Slide 9: Dollar-Based Net Retention
Dollar-Based Net Retention 110% 117% 114% 113% 111% 109% 108% 108% 109% 110% Q1'27 NET DOLLAR- BASED RETENTION RATE FY'25 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 9
Slide 10: Braze Customers
Braze Customers Total Customers Customers with over $500K ARR 2,713 349 2,609 333 2,528 2,422 2,342 303 2,296 2,211 282 2,163 2,102 262 222 234 247 16% 212 Q1'27 YoY CUSTOMER GROWTH 33% Q1'27 YoY GROWTH OF $500K+ ARR 35% 33% 29% 28% 29% CUSTOMERS 27% 24% 22% 24% 14% 16% 13% 12% 12% 14% 10% 10% 11% F
Slide 11: Free Cash Flow
Free Cash Flow DOLLARS IN MILLIONS 12.7% 14.1% $26.8 $21.7 $22.9 9.3% 9.5% 6.8% $17.8 8.4% $15.2 5.0% $11.4 $7.2 2.0% $13.9 $26.8M $3.5 Q1'27 FREE CASH FLOW ($18.7) ($14.2) ($28.1) (9.4)% FY’25 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’26 Q1 FY’26 Q2 FY’26 Q3 FY’26 Q4 FY’27 Q1 Free Cash Flow Free Cash Flow M
Slide 12: Remaining Performance Obligations
Remaining Performance Obligations DOLLARS IN MILLIONS +30% YoY +28% YoY 1,033.0 1,079.2 862.2 891.4 829.3 642.1 670.3 558.2 572.7 522.2 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'27 Q1 Less than 1 year Total RPO 12
Slide 13: Guidance
Guidance DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE AMOUNTS* Metric Q2'27 Guidance FY’27 Guidance Revenue $219.5 - 220.5 $895.0 - 899.0 Non-GAAP Operating Income $17.0 - 18.0 $70.0 - 74.0 Non-GAAP Net Income $17.0 - 18.0 $70.0 - 74.0 Non-GAAP Net Income Per Share $0.15 - 0.16 $0.61 - 0.65 Weig
Slide 14: Appendix
Appendix
Slide 15: 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 tog
Slide 16: 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 Three Months Ended April 30, April 30, 2026 2025 2026 2025 GAAP sales and marketing expense $89,188 $74,127 Less: Gross profit
Slide 17: 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 Reconciliation of GAAP to Non-GAAP Net Income Three Months Ended Three Months Ended April 30, April 30, 2026 2025 2026 2025 Net loss attributable to Braze, Inc. ($26,591
Slide 18: 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 April 30, 2026 2025 Net cash provided by operating activities $28,126 $24,144 Less: Purchases of property and equipment (108
Slide 19: GAAP to Non-GAAP Gross Margin Reconciliation
GAAP to Non-GAAP Gross Margin Reconciliation DOLLARS IN THOUSANDS FY'25 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY’27 Q1 Gross Profit $90,911 $102,079 $106,142 $111,087 $111,202 $121,890 $128,211 $134,354 $138,663 Plus: Stock-based compensation expense 964 1,078 1,003 977 1
Slide 20: GAAP to Non-GAAP Free Cash Flow Reconciliation
GAAP to Non-GAAP Free Cash Flow Reconciliation DOLLARS IN THOUSANDS FY'25 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'26 Q1 FY'26 Q2 FY'26 Q3 FY’26 Q4 FY’27 Q1 Net cash provided by/(used in) operating $19,395 $11,612 ($11,410) $17,083 $24,144 $6,952 $20,967 $19,375 $28,126 activities Less: Purchases of propert
Slide 21: Slide 21