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Braze, Inc. (BRZE) 10-Year Financial Performance & Capital Metrics

BRZE • • Industrial / General
TechnologyApplication SoftwareMarketing & Customer EngagementCustomer Analytics
AboutBraze, Inc. operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners. The company also offers classification products, including segmentation that can define reusable segments of consumers based upon attributes, events, or predictive propensity scores; segment insights, which allows customers to analyze how segments are performing relative to each other across a set of pre-selected key performance indicators, and helps to understand the factors that determine which consumers belong to a particular segment; and predictive suite that allows customers to identify groups of consumers that are of critical business value. In addition, it provides personalization and action products; and orchestration products, which include Canvas, an orchestration tool that allows customers to create journeys, mapping out multi-steps, and cross-channel messaging experiences, which include onboarding flows, nurture campaigns, win-back strategies, and others; campaigns, which allow customers to send one set of single-channel or multi-channel messages to be delivered to customers in a particular user segment; event and API triggering; frequency capping and rate limiting; intelligent selection; and reporting and analytics. The company was formerly known as Appboy, Inc. and changed its name to Braze, Inc. in November 2017. Braze, Inc. was incorporated in 2011 and is headquartered in New York, New York.Show more
  • Revenue $593M +25.8%
  • EBITDA -$112M +18.6%
  • Net Income -$104M +19.7%
  • EPS (Diluted) -1.02 +22.7%
  • Gross Margin 69.13% +0.6%
  • EBITDA Margin -18.88% +35.3%
  • Operating Margin -20.59% +32.9%
  • Net Margin -17.48% +36.1%
  • ROE -22.57% +22.1%
  • ROIC -19.37% +20.0%
  • Debt/Equity 0.18 -9.7%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 43.8%

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y43.84%
3Y35.59%
TTM22.95%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-1.61%

EPS CAGR

10Y-
5Y-
3Y-
TTM3.51%

ROCE

10Y Avg-31.11%
5Y Avg-29.78%
3Y Avg-27.11%
Latest-22.88%

Peer Comparison

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Profit & Loss

Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Sales/Revenue+96.36M150.19M238.03M355.43M471.8M593.41M
Revenue Growth %-0.56%0.58%0.49%0.33%0.26%
Cost of Goods Sold+35.69M54.51M78.51M115.82M147.53M183.19M
COGS % of Revenue0.37%0.36%0.33%0.33%0.31%0.31%
Gross Profit+60.68M95.68M159.52M239.61M324.27M410.22M
Gross Margin %0.63%0.64%0.67%0.67%0.69%0.69%
Gross Profit Growth %-0.58%0.67%0.5%0.35%0.27%
Operating Expenses+94.21M127.83M237.74M387.75M468.96M532.38M
OpEx % of Revenue0.98%0.85%1%1.09%0.99%0.9%
Selling, General & Admin73.87M98.62M178.7M290.45M349.1M398.41M
SG&A % of Revenue0.77%0.66%0.75%0.82%0.74%0.67%
Research & Development20.34M29.21M59.03M97.29M119.86M133.97M
R&D % of Revenue0.21%0.19%0.25%0.27%0.25%0.23%
Other Operating Expenses48K-120K-258K000
Operating Income+-33.53M-32.15M-78.21M-148.14M-144.69M-122.16M
Operating Margin %-0.35%-0.21%-0.33%-0.42%-0.31%-0.21%
Operating Income Growth %-0.04%-1.43%-0.89%0.02%0.16%
EBITDA+-32.89M-30.56M-75.44M-143.52M-137.73M-112.04M
EBITDA Margin %-0.34%-0.2%-0.32%-0.4%-0.29%-0.19%
EBITDA Growth %-0.07%-1.47%-0.9%0.04%0.19%
D&A (Non-Cash Add-back)645K1.59M2.77M4.62M6.96M10.12M
EBIT-33.53M-32.15M-78.21M-148.14M-144.69M-122.16M
Net Interest Income+2.13M840K137K0020.19M
Interest Income2.13M1.19M506K0020.19M
Interest Expense0345K369K000
Other Income/Expense2.17M720K-121K7.98M16.22M21.56M
Pretax Income+-31.36M-31.43M-78.33M-140.16M-128.47M-100.6M
Pretax Margin %-0.33%-0.21%-0.33%-0.39%-0.27%-0.17%
Income Tax+452K537K-165K583K1.96M3.44M
Effective Tax Rate %1.01%1.02%1%1%1.01%1.03%
Net Income+-31.81M-31.97M-78.17M-140.75M-129.17M-103.74M
Net Margin %-0.33%-0.21%-0.33%-0.4%-0.27%-0.17%
Net Income Growth %--0%-1.45%-0.8%0.08%0.2%
Net Income (Continuing)-31.81M-31.97M-78.17M-140.75M-130.43M-104.05M
Discontinued Operations000000
Minority Interest02.23M3.23M1.46M192K-112K
EPS (Diluted)+-1.87-0.35-0.84-1.49-1.32-1.02
EPS Growth %-0.81%-1.4%-0.77%0.11%0.23%
EPS (Basic)-1.87-0.35-0.84-1.49-1.32-1.02
Diluted Shares Outstanding17.02M92.11M92.97M94.57M98.1M102.19M
Basic Shares Outstanding17.02M92.11M92.97M94.57M98.1M102.19M
Dividend Payout Ratio------

Balance Sheet

Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Total Current Assets+126.97M133.96M608.18M583.17M601.12M644.03M
Cash & Short-Term Investments91.96M86.51M514.09M478.67M476.13M513.52M
Cash Only6.74M28.51M478.94M68.59M68.23M83.06M
Short-Term Investments85.22M58M35.16M410.08M407.9M430.46M
Accounts Receivable23.27M34.77M64.5M78.34M97.29M101.96M
Days Sales Outstanding88.1484.598.9180.4575.2762.72
Inventory0024.9M000
Days Inventory Outstanding--115.76---
Other Current Assets10.89M11.48M4.69M26.16M7.97M6.25M
Total Non-Current Assets+26.1M37.44M58.08M122.23M209.82M226.97M
Property, Plant & Equipment2.55M5.49M7.39M66.6M110.52M114.7M
Fixed Asset Turnover37.79x27.38x32.20x5.34x4.27x5.17x
Goodwill000028.45M28.45M
Intangible Assets000500K3.69M3.13M
Long-Term Investments4.51M4.04M4.04M4.04M00
Other Non-Current Assets23.55M31.95M50.68M51.6M67.16M80.7M
Total Assets+153.07M171.39M666.26M705.41M810.94M871M
Asset Turnover0.63x0.88x0.36x0.50x0.58x0.68x
Asset Growth %-0.12%2.89%0.06%0.15%0.07%
Total Current Liabilities+64.27M101.13M159.97M217.3M289.44M324.48M
Accounts Payable1.21M439K2.08M3.1M6.32M2.15M
Days Payables Outstanding12.392.949.689.7715.644.28
Short-Term Debt000000
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities4.41M13.03M11.59M22.62M41.65M31.39M
Current Ratio1.98x1.32x3.80x2.68x2.08x1.98x
Quick Ratio1.98x1.32x3.65x2.68x2.08x1.98x
Cash Conversion Cycle--204.99---
Total Non-Current Liabilities+175.68M176.54M1.48M41.34M77.08M71.77M
Long-Term Debt000000
Capital Lease Obligations00040.59M75.03M69.28M
Deferred Tax Liabilities20K80K10.42M000
Other Non-Current Liabilities175.66M176.46M1.48M755K2.05M2.49M
Total Liabilities239.95M277.67M161.44M258.65M366.52M396.25M
Total Debt+00051.28M90.61M87.44M
Net Debt-6.74M-28.51M-478.94M-17.3M22.38M4.38M
Debt / Equity---0.11x0.20x0.18x
Debt / EBITDA------
Net Debt / EBITDA------
Interest Coverage--93.19x-211.95x---
Total Equity+-86.88M-106.27M504.82M446.76M444.43M474.75M
Equity Growth %--0.22%5.75%-0.12%-0.01%0.07%
Book Value per Share-5.11-1.155.434.724.534.65
Total Shareholders' Equity-86.88M-108.51M501.58M445.3M444.23M474.86M
Common Stock009K10K10K10K
Retained Earnings-106.49M-138.24M-214.96M-353.93M-483.09M-586.84M
Treasury Stock000000
Accumulated OCI34K-42K-640K-6.82M-1.18M-926K
Minority Interest02.23M3.23M1.46M192K-112K

Cash Flow

Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Cash from Operations+-7.37M-6.08M-35.4M-22.31M6.85M36.68M
Operating CF Margin %-0.08%-0.04%-0.15%-0.06%0.01%0.06%
Operating CF Growth %-0.17%-4.82%0.37%1.31%4.35%
Net Income-31.81M-31.97M-78.17M-140.75M-129.17M-104.05M
Depreciation & Amortization645K1.59M2.77M4.62M6.96M10.12M
Stock-Based Compensation12.41M7.54M47.18M72.24M97.23M115.14M
Deferred Taxes57K60K-80K495K00
Other Non-Cash Items6.12M12.04M18.55M31.65M30.77M38.12M
Working Capital Changes5.22M4.66M-25.66M9.43M1.05M-22.65M
Change in Receivables-12.59M-12.35M-29.82M-14.65M-14.01M-5.36M
Change in Inventory6.5M14.38M0000
Change in Payables-2.55M-776K1.65M906K3.42M-3.91M
Cash from Investing+-87.23M22.47M18.04M-398.52M-19.98M-36.47M
Capital Expenditures-2.55M-4.35M-4.38M-16.7M-9.76M-13.23M
CapEx % of Revenue0.03%0.03%0.02%0.05%0.02%0.02%
Acquisitions------
Investments------
Other Investing-830K-1.89M-2.06M-1.26M-3.57M-3.81M
Cash from Financing+1.26M4.87M467.91M11.33M13.11M11.7M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing1.26M5.08M5.65M11.33M13.11M0
Net Change in Cash------
Free Cash Flow+-9.92M-10.43M-39.77M-39.01M-6.49M23.45M
FCF Margin %-0.1%-0.07%-0.17%-0.11%-0.01%0.04%
FCF Growth %--0.05%-2.81%0.02%0.83%4.62%
FCF per Share-0.58-0.11-0.43-0.41-0.070.23
FCF Conversion (FCF/Net Income)0.23x0.19x0.45x0.16x-0.05x-0.35x
Interest Paid000000
Taxes Paid176K472K299K365K309K2.94M

Key Ratios

Metric202020212022202320242025
Return on Equity (ROE)---39.23%-29.58%-28.99%-22.57%
Return on Invested Capital (ROIC)---226.65%-48.8%-24.22%-19.37%
Gross Margin62.97%63.71%67.02%67.41%68.73%69.13%
Net Margin-33.01%-21.29%-32.84%-39.6%-27.38%-17.48%
Debt / Equity---0.11x0.20x0.18x
Interest Coverage--93.19x-211.95x---
FCF Conversion0.23x0.19x0.45x0.16x-0.05x-0.35x
Revenue Growth-55.86%58.49%49.32%32.74%25.78%

Revenue by Segment

2022202320242025
Subscription Revenue221.66M338.35M451.08M570.29M
Subscription Revenue Growth-52.64%33.32%26.43%
Professional Services Revenue16.37M17.07M20.72M23.11M
Professional Services Revenue Growth-4.30%21.35%11.55%

Revenue by Geography

2022202320242025
UNITED STATES142.64M204.93M267.22M326.45M
UNITED STATES Growth-43.67%30.40%22.16%
Non-US95.39M150.5M204.58M266.96M
Non-US Growth-57.76%35.94%30.50%

Frequently Asked Questions

Growth & Financials

Braze, Inc. (BRZE) reported $693.4M in revenue for fiscal year 2025. This represents a 620% increase from $96.4M in 2020.

Braze, Inc. (BRZE) grew revenue by 25.8% over the past year. This is strong growth.

Braze, Inc. (BRZE) reported a net loss of $116.7M for fiscal year 2025.

Dividend & Returns

Braze, Inc. (BRZE) has a return on equity (ROE) of -22.6%. Negative ROE indicates the company is unprofitable.

Braze, Inc. (BRZE) generated $62.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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