Slide 1: Q4 Fiscal 2024 Earnings Results
Q4 Fiscal 2024 Earnings Results March 27, 2024
Slide 2: Braze Financial Highlights
Braze Financial Highlights $524M QUARTERLY REVENUE RUN 33% YoY REVENUE 2,044 CUSTOMERS IN OVER 70 RATE 1 GROWTH COUNTRIES 117%DOLLAR-BASED NET 96% SUBSCRIPTION $29M GAAP RETENTION RATE REVENUE NET LOSS Data as of January 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: Q4'24 Financial Results Highlights
Q4’24 Financial Results Highlights ● Revenue of $131.0 million, up 32.7% YoY and 5.7% sequentially ● GAAP gross margin of 67.2%, up 110 basis points YoY; non-GAAP gross margin of 67.9%, up 90 basis points YoY ● Dollar-based net retention rate of 117% compared to 124% in the prior year quarter and 11
Slide 5: Q4'24 Recent Business Highlights
Q4’24 Recent Business Highlights ● Notable new business wins and upsells in the quarter included AB InBev, Bojangles, DraftKings, FanDuel, Flix SE (known for its FlixBus and Greyhound brands), and Nestle Purina, among others ● In FY’24, DoorDash and Wendy’s partnered with Braze to enhance their cust
Slide 6: Quarterly Revenue
Quarterly Revenue DOLLARS IN MILLIONS 32.7% Q4’24 YoY REVENUE GROWTH Reported Revenue YoY Revenue Growth 6
Slide 7: Non-GAAP Gross Margin
Non-GAAP Gross Margin 67.9% Q4’24 NON-GAAP GROSS MARGIN 7
Slide 8: Dollar-Based Net Retention
Dollar-Based Net Retention 117% Q4’24 NET DOLLAR- BASED RETENTION RATE 8
Slide 9: Braze Customers
Braze Customers 15% Q4'24 YoY CUSTOMER GROWTH 202 CUSTOMERS WITH $500K+ ARR, UP 29% YoY Customers YoY Growth 9
Slide 10: Braze Customers
Braze Customers Total Customers Customers with over $500K ARR 15% Q4'24 YoY CUSTOMER GROWTH 29% Q4’24 YoY GROWTH OF $500K+ ARR CUSTOMERS Total Customers Total Customers YoY Growth Customers with $500K+ ARR Customers with $500K+ ARR YoY Growth 10
Slide 11: Free Cash Flow
Free Cash Flow DOLLARS IN MILLIONS 21.3% 20.2% $21.7 $15.7 ($1.9) (1.9)% ($5.9) (4.8)% ($3.5) (2.7)% ($3.5)M Q4’24 FY’24 FREE CASH FLOW ($18.7) (16.2)% ($24.7) ($26.0) ($28.1) (28.7)% (36.8)% (30.1)% FY’22 Q4 FY’23 Q1 FY’23 Q2 FY’23 Q3 FY’23 Q4 FY’24 Q1 FY’24 Q2 FY’24 Q3 FY’24 Q4 Free Cash Flow Free
Slide 12: Remaining Performance Obligations
Remaining Performance Obligations DOLLARS IN MILLIONS +40% YoY +31% YoY Less than 1 year Total RPO 12
Slide 13: Guidance
Guidance DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE AMOUNTS Metric Q1’25 Guidance FY’25 Guidance Revenue $131.0 - 132.0 $570.0 - 575.0 Non-GAAP Operating Loss ($13.0) - (14.0) ($20.0) - (24.0) Non-GAAP Net Loss ($10.0) - (11.0) ($8.0) - (12.0) Non-GAAP Net Loss Per Share ($0.10) - (0.11) ($0.0
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 toget
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 Twelve Months Ended Three Months Ended Twelve Months Ended January 31, January 31, January 31, January 31, 2024 2023 2024 2023
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 Loss Reconciliation of GAAP to Non-GAAP Net Loss Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended January 31, January 31, January 31, January 31, 2
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 Twelve Months Ended January 31, January 31, 2024 2023 2024 2023 Net cash provided by/ (used in) operating $3,821 $12 $6,850
Slide 19: GAAP to Non-GAAP Gross Margin Reconciliation
GAAP to Non-GAAP Gross Margin Reconciliation DOLLARS IN THOUSANDS FY’22 Q4 FY’23 Q1 FY’23 Q2 FY’23 Q3 FY’23 Q4 FY’24 Q1 FY’24 Q2 FY’24 Q3 FY’24 Q4 Gross Profit $45,659 $51,589 $58,779 $63,990 $65,250 $69,093 $79,633 $87,582 $87,965 Plus: Stock-based 1,654 920 911 889 896 889 901 900 895 compensation
Slide 20: GAAP to Non-GAAP Free Cash Flow Reconciliation
GAAP to Non-GAAP Free Cash Flow Reconciliation DOLLARS IN THOUSANDS FY’22 Q4 FY’23 Q1 FY’23 Q2 FY’23 Q3 FY’23 Q4 FY’24 Q1 FY’24 Q2 FY’24 Q3 FY’24 Q4 Net cash provided by/(used in) ($24,530) $17,921 ($16,321) ($23,920) $12 $22,549 ($17,517) ($2,003) $3,821 operating activities Less: Purchases of prop
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