Demand and volumenegative · 6 filings
“The cash inflow was offset by cash outflows primarily from an increase in deferred contract costs of $24.8 million as a result of commissions on new bookings and renewals.”10-Q · Sep 9, 2026 ↗
Braze, Inc.
BRZE
Market read
Braze, Inc.'s current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 16 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
What changed
- Revenue increased 30.2% versus the comparable filing period.
- Cash declined 86.2M versus the comparable period.
Company-1.5% todayVolume comparison unavailable
Market group0 of 16 activeSoftware - Application · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Deferred revenue increased from billings for new bookings and renewals, supporting operating cash flow in the period.
- Sales and marketing personnel and allocated overhead costs rose with increased headcount and variable compensation.
Invalidation: The isolated read changes if BRZE's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 16 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 30.2% versus the comparable filing period.
- The operating loss narrowed by 12.7M.
Evidence that challenges
- Cash declined 86.2M versus the comparable period.
- Gross margin fell 2.9 percentage points.
What would clarify the read
- Deferred revenue increased from billings for new bookings and renewals, supporting operating cash flow in the period.
- Sales and marketing personnel and allocated overhead costs rose with increased headcount and variable compensation.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods7
Price observations328
Usable filing statements222
Verified relationships8
Evidence supporting the case
- Latest annual revenue changed +24.4% year over year.
- Product pipeline and R&D has repeated favorable evidence across 6 filings.
Evidence challenging the case
- Diluted shares increased 5.6% in the latest annual period.
- Demand and volume has repeated adverse evidence across 6 filings.
- Supply chain and availability has repeated adverse evidence across 6 filings.
Questions before a position
- EV/sales is 17% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
23.946m+28.8%12m-20.4%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-01-31$238.0M+58.5%$-2.20—
2023-01-31$355.4M+49.3%$-1.47—
2024-01-31$471.8M+32.7%$-1.32+3.7%
2025-01-31$593.4M+25.8%$-1.02+4.2%
2026-01-31$738.2M+24.4%$-1.22+5.6%
What management says matters
Persistent and emerging business drivers
Product pipeline and R&Dpositive · 6 filings
“This increase was primarily due to an increase of $10.0 million in personnel and allocated overhead costs, for our research and development organization as a result of increased headcount.”10-Q · Sep 9, 2026 ↗
Supply chain and availabilitynegative · 6 filings
“Adjustments resulting from translating foreign functional currency financial statements into U.S.”10-Q · Sep 9, 2026 ↗
Legal and regulatory exposurenegative · 5 filings
“We have incurred, and expect to continue to incur, additional expenses as a result of operating as a public company, including expenses to comply with the rules and regulations applicable to companies listed on The Nasdaq Stock Market LLC, expenses related to…”10-Q · May 28, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.5× · EV/sales 3.3×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
23.94-1.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BRZE. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-05-28 against the comparable filing from 2025-06-06.
OperationsconstructiveEvidence score +3
liquiditycautiousEvidence score -1
valuationmixed
What improved
- Revenue increased 30.2% versus the comparable filing period.
- The operating loss narrowed by 12.7M.
What weakened
- Cash declined 86.2M versus the comparable period.
- Gross margin fell 2.9 percentage points.
Filing receipts
“The cash inflow from changes in our operating assets and liabilities were primarily due to a decrease in accounts receivable of $3.8 million and increase in deferred revenue of $38.2 million as a result of billings for new bookings and renewals.”
“The cash inflow from changes in our operating assets and liabilities were primarily due to a decrease in accounts receivable of $9.1 million and increase in deferred revenue of $24.5 million as a result of billings for new bookings and renewals.”
“Cash Flow Overview The following table summarizes our cash flows for the periods presented: Three Months Ended April 30, 2026 2025 (in thousands) Net cash provided by operating activities $ 28,126 $ 24,144 Net cash provided by investing activities $ 42,796 $ 122,837 Net cash provided by/(used in) financing activities $ (49,690) $ 605 Operating Activities For the three months ended April 30, 2026, net cash provided by operating activities was $28.1 million, primarily due to a net loss of $25.5 million adjusted for non-cash charges of $54.7 million and net changes in our operating assets and liabilities of $1.1 million.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind BRZE
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AMZNAmazon.com, Inc.supplierMar 25, 2026 ▾
“These systems include data storage partners such as Microsoft Azure, Amazon Web Services, and Google Cloud; Customer data platforms such as Segment, mParticle and Tealium; and analytics providers such as Amplitude and Mixpanel.”
MSFTMicrosoft CorporationsupplierMar 25, 2026 ▾
“These systems include data storage partners such as Microsoft Azure, Amazon Web Services, and Google Cloud; Customer data platforms such as Segment, mParticle and Tealium; and analytics providers such as Amplitude and Mixpanel.”
Depended on by
KVYOKlaviyo, Inc.competitorMay 5, 2026 ▾
“Our main competitors are: • Marketing solution providers, such as Mailchimp and Braze; • Large, consolidated marketing automation software providers, such as Adobe and Salesforce; and • Data-focused vendors, such as providers of cloud data warehouses or opera…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BRZE is currently a Follower in the organic co-movement group Software - Application. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.