Braze shares fall 4% despite earnings and revenue beating Investing.com

NEW YORK – Braze, Inc. (NASDAQ:BRZE) reported better-than-expected second-quarter results, but its shares fell 4.8% in after-hours trading.

The customer engagement platform provider reported adjusted earnings per share of $0.09 for the second quarter, beating analysts’ consensus estimates of a loss of $0.03. Revenue rose 26.4% year over year to $145.5 million, beating expectations of $141.3 million.

The company estimated third-quarter adjusted earnings between breakeven and a loss of $0.01 per share, compared with analysts’ estimates of a loss of $0.02. The revenue forecast of $147.5-148.5 million was roughly in line with the $148 million consensus.

“We delivered an excellent second quarter, demonstrating strong top-line growth while driving the efficiency of our business, achieving our first quarter of non-GAAP operating income profitability and non-GAAP net income profitability,” said Bill Magnuson , co-founder and CEO of Braze. .

The company reported non-GAAP operating income of $4.2 million for Q2, compared to a loss of $7.6 million in the same quarter last year. Dollar-based net retention for the trailing 12 months was 114%, down from 120% a year ago.

Braze ended the quarter with a total of 2,163 customers, up from 1,958 in the year-ago period. The company had $504.5 million in cash and marketable securities as of July 31.

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