Braze (BRZE) 5 Sep 242025 Q2 Earnings call transcript

Welcome to the Braze Fiscal Second Quarter 2025 Earnings Conference Call. My name is Leila and I'll be your operator for today's call. [Operator Instructions] I'll now turn the call over to Christopher Ferris, Head of Braze Investor Relations.

Thank you, operator. Good afternoon, and thank you for joining us today to review Braze's results for the fiscal second quarter 2025. after Co-Founder Financial Executive our Officer, our release our and Bill results by today. press Chief closed our Isabelle issued joined and Officer, Chief Magnuson; in I'm market the Winkles. We announced Please refer of at earnings presentation for investors.braze.com announcement. supplemental Relations information a to our and website more related the to Investor section today's

the of Litigation our behaviors, ability laws and to ended including impact and the consolidation and fiscal are and opportunity, our forward-looking the anticipated that Act target features, this of on we year potential expected benefits social and and safe These but effects financial Braze, During duration the business of XXXX, goals. statements and call, Securities third trends opportunity execute performance the initiatives our XXXX, will vendor customer to, are our macroeconomic make outlook our the harbor XXXX. impact and trends, anticipated January our of not quarter ended provisions our to such federal for their current XX, the Reform statements statements securities Private impact effectively financial of products on related include, or October under long-term regarding replacement limited our potential development, market XX,

as to are such We These today. any results expectations a materially differ uncertainties to views of actual variety obligation subject cause from only to reflect that statements. statements of risks assume could and forward-looking update and no our

available SEC the to the of press in affect risks Investor uncertainties our could refer Relations actual of on release filings our section results, today's material discussion please identified the both and a and our website. For risks that

in on our certain the fiscal in the that understanding operations refer Please today's have company's to ongoing the the further to these management like and second financial evaluate our our earnings or comparable release non-GAAP non-GAAP to considered to included prepared in financial impact most remind provided calculated measures include with reconciliations performance financial accordance to for addition quarter of GAAP the our also U.S. I'd to a aid financial measures to non-GAAP section in used as directly not be results. measures measures of by investors financial substitute items will Investor should call accordance you superior of XXXX financial under Relations the website. The U.S. measures the with in GAAP. performance

turn to Bill. like over the I'd now And to call

our ROI which everyone. Chris, and business from one We the world. demonstrated our initiatives. quarter, were product development execution very high the investments value of along around continued of made our We the customer with new the Braze again second pleased AI Thank encouraged were progress and by in good strong the the in the and quarter you, afternoon, long-term platform, results, teams with our engagement

business. of also achieving We up quarters continued coming we take previous generated gross income in efficiently business. meaningful free of non-GAAP leverage, and net years, while non-GAAP our operating more grow $XXX.X these efficiency our reinvesting pride operating realizing income XX rise flow thoughtfully profitability. to points in look business in the cash XX% year-over-year, while quarter driving We continuing to demonstrated income the shareholders and margin year, for and generating forward was million operating non-GAAP milestones of a and our revenue, our to strong and basis first-ever XX.X%, compared Non-GAAP across profitability

of e-mail and modern unsuited quarters, the clouds cases. legacy last legacy highlighted consolidation solution excited use for the are few trends the those service cycle as continue We've marketing realize over silo vendor point the that trends and to technology we're engagement and see replacement marketers architectures and providers antiquated

of increase with solid, was X,XXX, an quarter and during XX Customer growth quarter year-over-year. the in customer the our XXX reaching count

New hotel diverse and industries, a TV and and display a Papa Zalando on also NXX, design home range an among including American and German others. chain many Supercell, an American John's Bank business conglomerate, Pizza, marketplace, a new a the want others. TFX, saw Strawberry QX APAC, upsells a professional international Airlines, as company, European and major QSR we chain, a American media advertising around Hotels, LoanDepot, base European included franchise, our Asiana customer full many world customers sports Gumtree, in Media, of and the across a Bell wins Neo network diversification food company, European beverage of

replacement brands and put believe that drive for the to emphasis capitalize strategies AI-driven advancements. even seek and will trends increased we consolidation both share engagement cycle gains on on greater years, coming vendor the as new legacy In Braze customer

become leader successful category can skated of a position and engagement as engagement, marketers delivering to ambitious As benefit. Braze itself with product expansion scale. relevance efforts, increased customer growth of and we global the execution customer in Braze will the community global at And road and map believe increasingly and strategy, their customer personalization our through consumers our

existing more their this messaging and adding volumes customers Braze, cases, grow adopting new business use deployments. also with to continue more and Braze increasing quarter, as to was their units Upsell strong geographies channels, deploying

third and quarter, This secured also customers. we our X-figure second

with reliability The the next restaurant performance, expansion our presence realization and our large category. the gaming Braze's First, a product strong a pace and the is customers continued as service group long-tenured scale with space. with customer the strong conglomerate, technology stability opportunities in these long-term to of of testament leadership at such innovation, global quick and engagement in

who use to on $XXX,XXX our advanced to strength a growing brands at those sophisticated first-party in up to data year-over-year, return for a to invest their investment Enterprise customers customer scale. remains and the strategies enrich engagement testament With available enhance XXX, and XX% strong relationships and plus customer ARR Braze. AI

global and We we as our believe present competition, navigating goals. period this are them leader macroeconomic on to differentiation financial difficult against a the valuable present separation our committed product, engagement. and challenges, to in from operational on continues staying we executing effectively and customer capitalizing environments opportunities With cement and environment to are create long-term to long-term our focused position

As such, our performance, teams, new our system and we our enhancing elevating offerings. the by improving braces business investing customers our in and global on-ramp strengthening for AI our smoothing channel into brand offerings, are

customer activation data spread In flexible engagement as across high-performance revenue points. in more order celebrated and has customer sophisticated to modern X deeply relevance of observed on of ubiquitous increasingly especially milestones of July, governance and platform anniversary importance experience customer introduced the challenge important a an Braze as of the data we optimization, With Braze decade we and deliver focus the and engagement, understand our the world. touch XX-year to than set

streamline data data and activation of comprehensive their flexibility, is platform data Braze and designed easily and preferred integrations helps workflows. leverage regardless set The interoperability partner technologies brands Built modularity and with platform mind, of and integrate capabilities unification, their a in the data data distribution. Braze to

of use warehouse segments Snowflake, the to With ingestion, simplify Redshift, zero-copy an which whenever flexibility to data data Braze case directly data generate platform, their the Recent demanded. is cloud bringing from extension to brands Databricks collecting can Braze source. giving partners and from any additions process brands together data Amazon the first-party like platform included use customers the allows and technology data to audience

while our and empowering of balance by creative strike organizing considerations can SDKs our dependence the security, expensive technical quickly while on APIs, teams. And right and brands reducing existing life their to also ideas bring utilizing transformations, data architectural data capabilities performance their to marketers catalogs, efficiently such as their and more

while future excited Braze partner our census, Treasure deliver our highly experiences to with data building in amplitude, community Braze Amperity, and collaboration customers data capabilities management launch of hightouch RudderStack, data value Combining data confidence. including continue with in data Tealium, customers of broader very new Twilio test rapid these total personalized platform and maintaining We're advantage of do and mparticle, with at take customers Simon flexible and low and the helps AI launched Segment. features also robust platform integrated a the features more We Braze cost offering Data to Data, it ecosystem, our partners, to to AI and more more the places time catalogs ownership. recently

will category stack. and customer as we aiming expand As as the diversity our community, both becoming customer engagement architecture and in we to of work the practitioners the the the Braves size toward establish our for customer engagement, goal to leader technology investing continue for engagement premier of reference customer set skill modern

of Just yesterday, our easier growth, we experience to Braze's to customer accelerate sizes while announced all making X community firsthand. also teams for new it initiatives

services providing The confidence supports X start-ups the to Braze's VC-backed the first can sustainable they'll need goal day growth only and Braze the next which of next them The business to the for is leaders center generation that to knowing from the long-term platform, exclusive the Braves Startups access ever with buy. power of program business community. of with new platform of engagement opportunities. by driving is customer is win start-ups, generation digital grow to customer

firsthand types preview features units quickly help new We campaigns in our Second, existing business the results. we and and AI business business for more XX customers. test drive guided to across prebuilt they marketers program. this seeing and and provide allowing opportunity including will a dashboard This expand templates announced engagement believe special customer how brands and Braze more without platform, can dive free the will journey into APIs test meaningful to days trial walk-throughs, charge. into with within

month, Later XX Vegas. Forge, XX place be this unveiling flagship our we'll in from customer annual conference, which to innovation the more takes product at September Las even

data at and and AI distribution to our approach make effective platform, as designed more generation scale. and hear easier content orchestration about investing You'll activation to in Braze experimentation as unification, more capabilities the data well to and enhancements

about and partners. us more and outstanding stay of the helping and experienced innovations some Forge We exciting engagement how brands join You'll and channels will depth of customer needs. live, of you also increasing about our consumer learn breadth evolving hear also our customers these live workshops hope updates hear that many of from ahead to through we're at and

event Monday, share more as Forge, financial market of we hosting outlook. and vision also our investor be We'll which about an as XX our before on more well September will product details during

ESG governance to want to social through approach summarizes our of information annual I progress We advocacy which commitment our initiatives these forward Finally, launched to to and all the and accountability efforts to time. newly third on stakeholders continued visit ESG I environmental, look social demonstrates additional published social transparency July, encourage our efforts. our update initiatives. report, on and participation and our employee we In over to related topics for our our and website growing you impact.

to by my reiterating wrap business. our in growth, driving remarks profitability our commitment and long-term I'll efficiency

and your in interest over to Braze. now call And for the you turn Thank support I'll Isabelle.

today. us you, Bill, joining and you, Thank thank everyone, for

quarter XX% a quarter. year-over-year onetime increased increasing contributing the revenue, onboarding reported of we year stated, of second remaining from combination our up solid a recurring Bill of revenue the top total XXX to component and new XX, X,XXX line, same existing of combination customer primary X% represents quarter XX% $XXX.X and by a to configuration revenue XX July year-over-year fees. Total renewals period million, As driven from our up business. professional and services as expansions, the count of second last with XX% remains contract prior and customer while customers the Subscription

of a number total And year. year-over-year XX% grew XX% total spending those XX% to large same define our as ARR. at we as annually of to contributed July of as $XXX,XXX contribution XX, which least quarter Our last This XXX. to the compares numbers,

dollar-based our geographic XXXX. distributed regions. total XX% quarter Revenue Measured in XXX%. large our of retention Expansion net first fiscal in to across quarter compared across customers the was dollar-based outside year revenue XX% prior to while in and was net customers, the was broadly industries XXX%, the the retention quarter second again all contributed and U.S. for XX%

our remaining performance driven remains years. year-over-year year-over-year signing million, and X In dollar-weighted and were $XXX X% renewals obligation new million, contracts. and XX% up customer length by the was up up RPO up total $XXX over sequentially. The contract the year-over-year sequentially. second increases was of just Overall, upsells quarter, at contract and XX% our Current X%

from million the last the The in continued representing gross million, $XX profit margin stack second with improvement optimization in of by of benefits was quarter driven technology non-GAAP quarter gross was a XX% of and gross XX.X%. This the Non-GAAP of compares of efficiencies. cost primarily a year-over-year non-GAAP gross $XXX our year. margin to margin non-GAAP additional profit personnel

and or marketing were revenue XX% of sales XX% expenses in prior to revenue, year compared Non-GAAP million $XX of the $XX quarter. million or

efficiency ongoing our across year-over-year to the support the our While reflects and investment improved increase expansion, go-to-market deployment dollar in reflects to resource global disciplined headcount growth approach our organization. our investment

headcount was prior quarter. develop to revenue, The of to $XX as existing drive XX% in or as was offerings to new the features increased products dollar expense primarily growth. compared support million revenue million $XX increase of our XX% of expansion well driven costs R&D or Non-GAAP year by the to and

Non-GAAP revenue, million of G&A expense compared was million to XX% the of $XX revenue or or XX% quarter. prior year in $XX

increase improved reflect growth, overall scale. our the continue driven was support deployment continues and resource our company the dollar we While to to investments by disciplined to efficiency approach investment as to

of share or $X.X quarter Non-GAAP non-GAAP the year $X.X per of loss operating or the operating $X.X million share compared revenue was revenue income year $X.XX prior income a in Non-GAAP X% in quarter. million loss the shareholders million of to per prior was $X.XX in or of Braze compared $X.X loss a million a to or to net attributable quarter. of X%

from free the with continue in was Including expect the ended cash $XX.X second year and marks securities. as restricted $XX.X in to Now in third and the in million cash used straight quarter equivalents, was of compared compared We given approximately free to and during fluctuate quarter flow million to flow $XX.X cash Cash negative costs, flow. cash the And prior we free million million year million statement. have marketable positive customer cash past, impact timing capitalized payments. to operations cash our quarter-to-quarter prior of $XXX sheet vendor the This quarter. the flow quarter. of turning flow we in $X.X of balance noted the the to our cash quarter operating of provided cash, cash by quarter the

Now turning to guidance.

$XXX.X For XX% be midpoint. the million year-over-year approximately of XXXX, of quarter a represents growth expect of million, in revenue at the to which third fiscal range to rate $XXX.X the we

$X.X Third of the $X.X quarter margin range X.X%. million is million. operating in midpoint, non-GAAP an operating the this implies to expected loss negative approximately to be of At

cost annual quarter. Third quarter as of Forge, the customer operating customer income will scheduled during by global events several the well be affected conference, as our

Taken estimated to the $X by million expenses events together, operating third impact an quarter $X million. these will

year the comp by midyear addition, In impacted which promotion be were X. for the and back August of half will compensation increases cycle our effective

million million, the quarter XXX of to net loss and loss expected to outstanding loss on share per is to shares net during non-GAAP be Third quarter $X.X $X.XX $X.XX per a in of million basic third based the $X.X range non-GAAP share period. approximately weighted average

is XXXX, of million. in year loss operating in of $X.X the $X.X point same fiscal range this expect growth million period XXX Fiscal total implies range year-over-year X%, to of the the Non-GAAP midpoint. full At at the to to expected is operating approximately net non-GAAP to basis of approximately of income XX% million the $X.X year million. revenue fiscal a to $XXX.X million, roughly the $X.X midpoint, be a which represents improvement For in margin year XXXX. range we a the expected versus be million for rate negative non-GAAP XXXX to $XXX.X be

XXXX per approximately non-GAAP share is share per shares. to on full year year XXX to income expected weighted based be Fiscal $X.XX of $X.XX average a share count diluted million net

share profitability while to providing targets. its managing to cost I'll Braze's commitment end world-class solutions customer effectively by engagement reiterating

Q&A. And for the with call that, begin we'll questions. please now the Operator, open

first [Operator question from Instructions] Barclays. Our MacWilliams Ryan comes from

seen individual has complex more supporting users. since this channel you the customer SMS and seems iOS have to ability be see Bill, for interest And as XX, a Braze yet RCS RCS personalized than it on RCS? how more with Apple for in you any could

Yes.

we're and RCS first, about full excited and we're to preparing just actively at that excited Forge support, in more So a share weeks. for few

even RCS Some for be to aspects sending messages. are better strictly of going text-only than SMS

what progressively prior lift going then I through access so a complexity And they're actually that's And branding due support of other to of get R&D already been can help analytics. work to that innings Most because into be surely or both and to rollout. new sender, on Braze notifications, global like think types. our similarly, ops go-to-market and over marketers in as is side, because to dynamic a carrier get done channels carrier adopting strategies. the WhatsApp product authentication on to customers RCS of environment really able but early any fashion and line operated content be in then they'll in the and pricing ingest cards leg also do these then in there's and obviously of Braze push on additional just something work going just complexity, formats, the and SMS previewing, lot content will things support the content richer of to line. And like in even And messaging. already while needs like they're some have also side to for be are richer shift we a testing reporting ops that composition, and RCS shift if as some WhatsApp, going RCS's with to zone And they that the the is they're the SMS for to

channel R&D grow an sending the that support landscape increases leverage investment. a we as that good perspective, continues provides time. us that And as over complex compounding it consumer reminder, get Braze And from on benefits more to the obviously grants the message of

launch more well model. with also We're flexible our the of prepared for credit it

end on separately. SMS the basis to sending QX, of actually we used commitments a until made country-by-country for remember, MMS customers you and if So require that

a then as and into well business. both to Now the the available. just uptake those QX of Braze credits same new credits where bought with who's able as be actually as from becomes conversion use at that, ratios renewals QX We'll RCS support saw we on any great end customer for starting

So is complexity future, to any that able the customer to as the to RCS, Braze involves go-to-market contracting. to new that's them base the definitely something stage that quickly as our be launch and of for to into look continues existing forward sort including to channels adopt ability new

Excellent. net ago? this you acquisition a Appreciate the point? Then to impact year of level And year? we feel this color. was at about rest we're like the should the this how right the for on retention any at based Do for there metric think from Isabel,

Yes.

So thanks question. for the

this been of question some So I quite asked of the element metric. at here. -- we we're of on about I've as the can guide embedding not the continued I as yet bottom And see think pressure of you quarters when how couple sort over And last the kind again, Think think we're of about guiding. bottom. this think

I stabilizing had historically here some sort quarter think lagged of of another are stronger out So numbers. quite we don't that We yet.

historical so just from quarters. Not it of these of And huge is the of out lagging that's part the but more acquisition, to a historically out stronger percentage acquisition, of continuing stronger points, from the impact lapped leg small of some impact quarters. really here having

Pinjalim comes question next Our Bora from JPMorgan. from

the the terms increase seeing challenging displacement Maybe intensity of point legacy incumbent cycle. recently has there of given cited these solution And macro? Are more touched the in the differentiation? are map their holding by deals about been to Cloud how AI as of road cycle? on you Bill, you that Marketing talk or on kind people AI a maybe replacement your around is or often is customers in

Yes.

well posture places, consolidation on breathing that depending a attitudes slower both seeing company by of especially some of vendor we're like to. room things rates we're bit In think are transformation and driven as sticking foundations, now. shore right there's growth selling just the as with the because from other experiencing I projects or opportunity on and there working the places are their status not or with the In static They're as companies taking journeys. quo. go launching embark an they're are up teams prior new that to such, So

play. seeing think I both them of so at And you're

vendor you're you're to on important makes incredibly sure I maybe future-proofed change only is to obviously want every an in you as going if stack that going or AI that a their a moving it more replacement, this every make When through it years. be perspective, an think like the be deal enterprise, well, XX traditional continues cycle. to part From technology to legacy especially a X of

bit so deal noise hard lot a that's part important the and of of sword getting cycle, there's space, in it's the an still there's sense prospects behind a And every full in are still of AI double-edged a obviously conviction a there in that it. but -- customers time have still

very a great and what's and real product around Still the from AI are, to not, about work with lot take our -- and take clouds on approach see legacy marketing and able transparent we a very prospects to a lot try what's There's what's difficult we the pragmatic what's customers. that being to very approach noise. through advantages that from a of for possible, of where

term. landscape. seeing think and to I over We at leveraging be off the Cloud specifically longer customer aggressive like no we're legacy or into it's cycle, ball that a us think But investment to seems replacement any be compete eye marketing don't so still places And GSIs look from going or right the new Braze. Their really tactics. these a things with that on legacy the space, engagement through ecosystem compete relationships Marketing them what I like foundations long-term see innovation to they we of meaningful this with is complicated with pricing the that offerings able when have there's the and their

the that bring to, that to AI breadth for of data all channel and of the decisions them customer. our comprehensive in feel governance and management order cloud with comprehensive that we around really across and at the have in But our adoption through our and continue advantages we the look AI have because take platform also development against points data touch around stronger have and the to legacy real-time our we those of ingestion, Braze AI position marketing good capability life being we foundations are we as outcomes made about that especially

the environment bigger the Understood. question about took look maybe it But numbers, NRR step And macro I sequentially. last business talk quarter. this Isabelle. yourself, maybe a down at versus for tactically When Bill. like quarter One seems

of Some a bit. CRPO-based bookings like numbers seems RPO-based, the slowed

step maybe about environment, feel a Isabelle revenue it talk So macro the wanted kind is took QX? down you hear some seems down? do previous are like more on can Or to this if than there drag side, deferred dynamics the of other sequentially like of a quarter which

Yes. Yes, absolutely.

mind thing So on CRPO, RPO, the to impact. there is we an -- having lapped having keep the in the acquisition, is that

the So see in having lapped CRPO. North and you Star RPO that the can acquisition,

that perspective, historical In mentioned addition, the of higher deferred point from answered, to as retention specifically don't legged by and you're is we impacted have typically this it's question we that the then metric, off. some particular, with noisy numbers previous a from in and the billings sort of dollar-based rolling from terms And that about, a you've people I why net contracting revenue it. customers, asked I in that which are out perspective quarters metric our is a we seeing that

so divided quarter invoices the during we QX the but went because increments. had a terms, of that smaller, arguably it's which smaller, net bit proportion necessarily because that was new smaller in our annual dip means ago, are into contract more the of is a up And one out on upfront not business

seeing And deferred in out change the sheet. play so balance that the revenue you're in on

Sachs. Goldman from Borges Gabriela from comes question next Our

like sales macro about company-specific trials? question, you the the think a start-ups do Braze assume How ask and then let's of some environment. we're with is marketing I'll initiatives normalized that the improvements And in free and productivity making. growth you're which you're Maybe similar introducing

over, think for everything how to you in gate, the say, business think potential months? next XX the the to XX reaccelerate about our you about do If let's

right Great acquisition question, as the Braze win under growth businesses, startups that building for different what as over about umbrella, the a we really broadly in releases sectors. the to is lot the long saying the well product-led the have we in think you're term the like we've seeing that looking commercial strong and a we're the business at and And been thinking efficiency doing across segments.

If sales side. net skill set quarter and customer being that customers capacity if since we've the efficiency in and actually when prepared as the right there. we also XX lean we've And why started and as team good to But Braze of our feel and premier bit a achieving volume trajectory perspective. again. grow in you're sheer on you market. for do the mind been higher in that there. lot and referenced commercial this seeing win the we great results months remarks continue at about about . We've engagement, a did architecture a you a income and levels focused the strong go to making SMB SMB on in X higher we size well of the additionally from reduction acquisition just the to back share technical and recall that's achieved into It's was look of the we of more the side, commercial that obviously think there's reference goals the that I ago, little that, focused And enterprise been a operating the and where the we that income the that

our goals both engagement efficient will Braze. set customer in we a loops are Those for dominance support community. that to to amazing future of able to to ecosystem, feedback practitioner think lead in the skill terms positive and more our within leading It preference growth preference way, category being a leads brand lot more

advantage lot challenged that those there's place, within the you're environment of advantage taking the right product a what improve is we're our really the demand stage now this to the challenging the though macro even our long-term efficiency seeing well, we're in of is competitive time to so our invest skill that And and in set making we though continue right set investments to around ecosystem, moats build R&D. as spend is those period, scrutiny a as around heavily foundations, obviously, and around on in even

seeing into you're we are that think into penetrate with and places we we new continue so the focusing push financial we're frontier well services places And to where in and geographies ingredients verticals, frontiers as in in both investment. that at there deeply hospitality various is literal like travel And and as across have both like the investment particular, as looking more commerce. Frontier and enterprise retail

you're right acquisition investments business, profitability dominance looking what at right will drive efficiency now places simultaneously customer is that to of that and so for foundational order of new engagement. to of us us strength seeing achieve a Braze to allow achieve we our acquisition allows growth efficient while strong in in the that from have also now making And to our goals improve future balancing category

know right as SMB an time super in expanding motions We the an that out through growth build be drastically now have being not to important. in space improved example, investments that efficiency team is able product-led but free to the been like sales trials

foundational you whether that product And investment the continue deepen areas to we various those vertical us in opportunities the as to efficiency, geo expect in so through as strength to balancing creation related are frontiers, the future existing continuing see the in focus should investment of us both have. or in new well of for our

think on Bill, makes and next maybe the bit a but milestones market more about over And categories well? on run do of specifically core map. thinking How remind us hit a adjacent journey your Yes. as of even broader Frontiers, more you question lot marketing, than dominant little you're to Not that. product the just product road the on on That sense. to frontiers, the long across of how maybe in being also about your

Yes.

also few leadership that in continued level, short we're compounding to data excited we I'm we're looking increasing high channel a share continuing to workloads. Today, up customer to And deliver our technical is to At to customer partner engagement be stack. as the the within -- of couple trusted more But offerings, the those more category. that our Braze's customer with about weeks another in point. the X-figure ecosystem be over The customers in ecosystem, usability, be is engagement customers, lot capability road and forward grown a broadly the to and platform touch to for even just the talked customer that combine with sophistication every we've simultaneously product term, this Forge gains map. it more and think broad. say a enhanced going we've our a the I'd continue over our about. engagement. expanded be higher also in obviously, And integrated while that and when customers last I give preview more these those last more achieving focused augment the first, into quarters So don't about to really really I'm own still the contracts of we've course we within very that Even

to to I so room when us run comes customer think it of And for lot continue a engagement. to there's

category of more journey, of and also exist the marketing customer more journey And expanded obviously that take I delivery remember didn't definition like product continued the at year the think each the history. engagement more marketing. when the the optimization of looking aspects aspects first and to has brand important and performance then having of started, just on to there's of things experience as it's more customers. data and and we promise a grown -- to and It our responsibility, obviously, has

will Braze's enterprise continuing able what into means reliability it our so to and stability that to And the the future is other workloads. for performance to be longer-term that we're us for build really engine right take And expand have excited what and on the underlying to aspects exactly potential. of about of

still also focused a on line But very dominant amazing of within sight growth, -- think, engagement. We're position. we establishing customer I incredible have to

Our with comes Arjun Bhatia next from Blair. William question

have this complementary and for for data replacement? touch Is in the stack think it Like existing Is Can and value role Braze cloud play to additional a data to your you you. be that? data end meant delivering what role overarching that the it it in just playing to customers? does customers up might for on you how monetizing end might platform up And Bill, customers? you warehouses? that the

Yes.

platform we ecosystem capabilities for as and of in-house the So our data to launched serve continued Braze enhances both development the a that platform data them. partner

customer personalization to Braze measurement that the total of data targeting is ensure all messaging low get ownership. with quickly, can goal so the a to and or And customer completely to relevant orchestration,

where the like X our partners the with of decision-making includes to low all those which platform customers, can architectures of build interact reverse so have cetera. providers, product we And across driven in-house, launch. see analytics around categories cost those you data warehouses, partner kind we data total ETL CDPs, then how within companies, what things go And examples completely, et quickly, our the we of ecosystem, of ownership and

integrated. those flexible that's data order wide well to also goals customers comprehensive platform achieve being a requires simultaneously while in range and across powerful of and Now a

And the been ecosystem. things as have see engagement well comprehensive. you so have the to which and really Cloud at the basic Marketing you very that the building deliver that there's with full moving it's know better not continue and like I an data the have we're And on our models to value at share or look better going learning we work when in statistical order create science in that and that and we position focus teams in you. value that's customers. enhance but with we the relationships. And working are we data ago a quickly. analyst outcomes teams, changes where generated as customer been value think they we at Braze's really reporting, developing the pricing would continue teams It's science stack, with advanced integrations growing data and through into and to security It's of we ultimately, platform brands the to machine like of rise beyond when the expected, where growing closer It's improve is adapting value their with and interactions to just years that governance to that privacy customer or that far what to only teams something moving audience been personalization for drive to they looking -- continue when look the the also the that today, that

adopt charged aspects Braze cases platform to new goal completely get that a and big customer obviously I outcomes ownership. increases cost customers. so contract see drive channels expanded Braze. total of quickly, with data are the And lifetime that it broadly the data service new that for of the quickly, and are the make that driving as like things building and features that that advanced build in sure more Braze when But catalogs product to that of is well on as customers catalogs. stickiness for, we're of that into models, recommendations their AI things you is happens, can our value through use they think with there low on engagement continues churn really to that and get top the like And we data the And our comprehensively, product our more their in we item top of in increases predictive platform

maybe Helpful. I changes on fuel side? fire particularly up making about in it the be there look to I enterprise think internally are are to macro from business. X-figure in the environment? the Like like going you your pour place customers, the Okay. growth another maybe more and a you $XXXK seems how seem go-to-market, doing just getting when potential and the to We're this perspective, that relates at about it some any And elsewhere thinking maybe your When over internally FI one are to lean think as more resource your on then very results, allocation it maximize in is you customers headwinds well.

Yes.

and about think, that years, investments and see I acquisition frontiers as will depth well this the opportunities as spoke just that places. will with pre-existing new acquisition strong opportunities new and we give other improve balance into move investing about we efficiency of into that So in new us as future foundationally,

on been Now make And changes stronger efficiency profitability, there's efficiency lower of structural are efficiency further historically education, improvements to with and obviously saw going you've in call product-led product enterprise improvements free existing offering, about wanted investing us while something still area our it's you We've customer in function also usability in sandbox we're think actually environment are of increasingly evaluations in credit the for end, that go-to-market remember been heard launch like like the we incremental efforts. to free had stakeholders. improvements a that are we that business. me our a trials. kind something that see around existence compatible that our that from making self-serve just steps our important you obvious trial and technical we're card excited reference to things year-long there. I table we've SMB in that benefit environment in that obviously with growth provide or a sector, has out And has engine stakes available in of to while And while to improvements acquisition our the a an future. sign-up far the think are we and the side, for trial are the like also a also to focus

goal demand perspective environment. are second you has buying engagement, cycles, that and if an to for always before stakeholders the well go technical understanding being I interplay as current technical as architecture enterprise from reference that the involved so almost with important And a mentioned customer dominance for category those of that in

stakeholders. vendor You've heard replacement a kicking this enterprise also consolidation that not is was deal us play to simply sales a those technical model more legacy have Similarly, disallowed in that technical that to that higher before a signed. something stakeholders. there's you in is or cycle, the tires And contract they're times mention interested order involves sticking the legacy scrutiny where many frequently, stakeholders. they're And what macro, means in win that

historically in satisfy And them great not we stakeholders. has to many do not haven't now But a And know do. ways, that had we excellence made so Braze's has And Marketing technical that those and we Clouds historically to that to but the legacy we way the product Braze's available. -- product prove either.

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Our question with next from DJ Canaccord. Hynes comes

A Bill, couple some gave actually, follow-ups, of Arjun. the you to just of answers

CDP? is guys like then in about there one mean, like many I As when there. like what a need a launch ways, of I positioning to CDP that third-party in could solutions hear of point the partners anything for Just obviates might that of platform, lot guys be might vendor just be for those the there. difference? But think a they list the I in CDP number for think guys I I when Can what dictates that customers, for like you of the would a think kind are CDP data might of not a help Braze, a and consolidate. me the need of kind like you you customer acting right?

me So that? think help through just

Yes.

geos, realize technical ecosystems important that but applies verticals, levels customer ], base is [ into. that also across diversified integrate Braze's that, position to that through across and across how So across thinking it's think the of when I how we

might can going made own Databricks warehouses of clean have or complexity it's kind to heterogeneity a do of POS of multinational, old Snowflake a kind for you, end is come or data and ecosystem or the retail it's audience across the the a cases, many In CDP. deterministic ecosystem. coming back to there's And maybe all matching they've data, of identity. data and or are case where of doing and together from those are people And bring are sources And where are top something as shelf a They're -- science learning times, are holistic-based that or to sync we've trying warehousing that probabilistic data that. QSR, And data come of use top a to deployments off like whether trying so AWS kind GMP of that a their and you a there's the targeting places groups of company Maybe of all those it's a machine is in into be lot Maybe and and very across that on old in within other it's space do partners got ways, on trying there of those a that systems things a signals of can, a of legacy CDP a time. the one the are things up being like data to managed there separated. many on be what can able and be system separate at look helpful choices first-party not CDP, from. technology it's of if complexity you lot what manage third-party what data clean take or of complexity the long complexity. less build lot keep upgraded have than one are Similarly, data services data within a if a would pollute to and day, places the trying set, a or in lot call to of with part that at highlighted up of to that ecosystem. step cookie ones

aim simple lot to deliver those and lot ecosystem that be the to so integrate so reality of marketing And across of well of of has total it's connect to kind engagement to areas I quickly, accomplished, as make customers messages so Braze the they all of better -- of support there's a can there's within responsibilities these a Braze data ownership. be just the a kind can data products goals. customers want and can sphere. But to and where into and are and that those in a many other back things platform doesn't so platform other that to high personalized. and cases, customer the data that We of adapt to lot that places well such, completely, also performance do level of we across in low that data operations And as lot that help those fully the manage get stickiness. sure cost able those went to can exist that complexity a reliably, Braze

able generated, they so changes get responsive new in be insights. to what have we as user or And context the that actions be inventory as around in act those them, it can that that into so you, to highly changes to we changes can just or want data Braze, on it's

you're space. a the partner what is platform do so that, And is lot Braze important customer control, to the sources is want integrating is understanding so of still end really a in deliver At there's data of there. experiences we with... what in to seeing that day, ecosystem very lot also great this And platform but of of the able engagement that and customer of of really but aspect be the complexity own aspects out this, us a vertically being data

Yes.

on it's a in trial makes When a platform technical going me you capabilities effectiveness I that depth talk of that window. can to give potential you of customer about back That makers, days? of XX program? free the the some And decision might mean like to be realized narrow ton trial, That's then the a explanation. trying about Okay. just helpful think sense. just a color

Yes.

been we already a just going messages implementations before and be refer send of to test allowed to we've product, had launch within their ensure work test as go teams are the APIs, things to able end. that because technical to in -- free the has trial to seeing our end which we our actually experience, and So for this guided what sandbox against build SDKs

I technical a teams out It's of think a of this space not easy marketing. is copycats competitive And for there's trust noise, lot there's a to where lot a product software. there's just copy there. lot buying marketing of

what from to just people and milliseconds It's we "Hey, to to so real that it strong this reliability we available. And that time. it's we're hours. behind for do." And at pretty say time XX performance this across saying, easy the what really say high something of that look is is is, and the does there's when product environment, integrity stand going real And definition varies we

easily using what other and a and competitor its that clone particular, when kind think our you're benefited a stakeholders product. different time that totally people all of on times a of can letting have an really of In evaluating have I in has have product especially just what depending our lot price you -- conviction, say, of Braze getting part the terms does products of product lot the latency a the messaging And people just as product on buyers technical example. own premium like hard stand those that had a are

or not marketing it's And an something prove long-running course so like the run -- need that that of works example. that SMS over XX-days campaign to and as to you a yourself

higher that marketplace shine that through show guided just the just and to own. our value lips in instead of us things of customers, that's solutions it competitive noise the like really what we're you, these sandboxes product the needing have consultants channels, things letting with to able are being about [indiscernible] do really on with really these in understand its think I and or the general, it's to them

next Our from [Operator Instructions] comes question Tyler from Citi. Radke

Maybe This Isabelle. for Kim question a Ashley is Tyler. on for

tech personnel the sustainable through be efficiencies, gross that the of margins, year? to And you level improvement and do the On the of anything balance apart call-out? would stack being see there from

for the Thanks question. Yes.

mentioned had QX, that of we year of the QX bit for to were volume concentration in rewind if low related that happening a message a that primarily So experiencing quarter. some was we during premium clock to we the

we we of the how even the would what own terms say we're to I on in think on definitely quickly efficiencies sort of we So internal we that with overachieved had I improvement, capitalize of expectations, put very, very this. is able in QX achievement in and some that were our pleased

So I for quarter-over-quarter. kind look -- what I to us of mentioned in QX increase is

that QX that. think we have surpassed I the in has that here achievement

everything place certainly not look that that that And QX. that experienced so would the while continue at we increase we've we is believe same number sequentially to from sustainable, put for to clip QX to into I

So I the that definitely that and you context improvement the models between we with in the margin the think into that pleased about results QX we're But put place. very had of QX. vis-a-vis

Company. question Berg Scott with next from Needham comes Our &

Bill, seeing strategy? that only are it channel you change. to question new what very platforms. trying quarter across your made you countries so a credit within far new in to buy couple the into behavior mentioned Ryan's guess about with buyer you think months It's since strategy premium Nice been messaging and different I here. briefly, hopefully usage expand I was of

the had of been just our sell some just than for we by other volumes, we [indiscernible] country it's that little noise, them, that then credits projecting received model that new organization bit innings the that noise some that with we were to of training showed in and to had well where say be as would do it of their -- go-to-market that and notwithstanding early such deal you cycles those expect great to would up able already I customers. Yes. people the

us, centers into and quickly. Even we've the move change more that excited is call, sell into get going flexible as channels been I moving future, about to happy a right messages a more mentioned model. we're really things We've beta the quarter's deploy We launch. be it's to line in launch launch. for into They're lot changing. bringing that availability. just active so the doing RCS, now, line talked think on the able the and win-win-win new I've that easier credits WhatsApp that for general fact to about and we to that sending these we excited obviously and as I last got Japan been easier All

going think to need be much that course -- We about how last the what from customers a think strategies lot of going interest people purchased predictions as rate the on with one ended during error we contract make they're have more length, if it's be or to going like purchasing even entitlements that didn't or -- were But those every individual channel. the kind entitlements purchasing they of of also up closely the that few we've will were as they credits expected. able that a to an been included change perspective, of environment model, of they there the over aggressive flexible that more, grow they we with those very sources entitlements margins optimistic spoken we've beneficial quarters contracts, to also to is rightsizing. because to are of X unused And particularly seen signed of buy error that with purchase more churn that don't the

will credits those of use progressively adding be length. and over them the more more the for ways course We to contract

And the as into so healthier we future. be we to think just it's much going position move to continue

question from with comes Piper next Our Brent Bracelin Sandler.

maybe want size our the is My appetite the see. even really customer How model, months It new Isabelle, of in is be here robust about? up just you impacted a you're quarter lands? profitability given then vendor Is pipeline gain change Are and of time. starting over I larger macro. opportunities ahead the show tough to with talking seeing narrative that now? around the large to sounds in know fantastic I land activity. a brand to X overlook share replacement legacy don't historically, land first smaller consolidation may you'd question

are bit Yes. our land. to it a continues we're incentivizing definitely to be a our of I just lands sales mean -- mix, and force

been make want the possible. to sure that down so force to We allowing the or change necessarily grow say put buyers to to that that incentive We to naturally for as long -- to sense any them is I no of there's make kind want product we have together kind that. term. them directional certainly But to and sets wouldn't make our big product buyers. land the of over we're as meaningful sustained there's don't And trend of try kind that

Our next Cowen. from question comes from TD Derrick Wood

and seems international it then ones And I has a one which contrast than in why -- international could of international on on guess, guys, of healthier, ones a stronger change of U.S. and just any are either strength domestic kind the demand just you seeing compare vertical? which a bit bit you or particular like more trend? pressure Could you verticals, been across notable you versus growth relative stronger any across be touch maybe may

Yes.

So there. things a few

percentage add First, expansionary and new a would of ticking it at a faster point see here markets to and into a we up. into grow the of so kind in before there, of that just at us reflects than kind we geos investments to and rates expect core that more seen able more that business. lot weren't up we rapidly time globally, those moving being picking And you've or

do You there. faster trends the in in some EMEA similar have We're reflection other that results, seeing There for they Japan. places, not than Salesforce's United instance, States seen you growth may are in differences in across also like have big in from some saw faster they place. place see growth actually geographic to

pressure think of resource well event we're everywhere. I and macro there. terms strategy in as our of under broadly, strength, But deployment we seeing the accordingly as our investing some pockets go-to-market is are both

other great starting perspective I to for startups and universe lot We've the cycle hospitality, services a consumables of on had bit that has great Services Braze's mentioned and us. credit in services good have rise parts been and traditional adoption Within the FinTech a the things the through financial that insurance to from move with banks a for for into We've base, as increased and CPG companies also seen world, travel like before. many but us. of customer financial there. penetration little Financial been unions more years progress continue the and and into we break obviously

our I investing reference geo, think and to first given Braze's a given expansion we earlier, we've that obviously customer those But efforts of point you efficiency or base. points choiceful of prioritizing to expect a that's leverage the It's see go-to-market, new customers really already about reference vertical it spoke in case deeper, back are proof relative about to those and diversified less to deeply very of to should I where new we a continue where a going own being to reflection a we been very verticals penetrate more that acquisition get customers more are the strengths how more frontiers. have vertical our those in developing than new the places and where we're is go expensive into studies. in

of we're We'll case that order or a And oriented. also efficiently. sure so of reinvesting those geo healthy taking just been into areas those balance in we've got so that making use advantage strength are what we've preexisting good doing is to or those grow that vertical of whether frontiers,

comes Altmann with question Scotiabank. Nick from next Our

Awesome.

there Is U.S. then land of does at build side, the in to of willingness international on versus buying meaningful legacy international. in the market the to last when the their international propensity to how versus customers, any of look sort question domestic? expand terms the replace Just difference systems? sort you compared And

Yes, a few things there.

that First, the with expand the correlated think I is land size. and more customer

likely the technology, just result lot WhatsApp and in an some look part places. and other all and markets just there From like of organization use of to look incumbent more changes and have example, the things those land an advantages It transform adopt kind the it text-based and markets, see adoption because they developing a company, kind hopping things includes whereas behavior it's in of in is and -- and case an West just sorts politics of narrow a that when complexity in the those individual look just lot when of the When East available corporate tends definitely the of smaller tends at the you a and be to more that West as at a enterprise Coast at a the obviously, I the where it's case fully e-mail at States enterprise -- markets When less in channel. because kind world, to that and well, Europe, mature once. that use in of like U.S. of what places effective from perspective of e-mail, the consumers like we willingness we to and on over and the we think things Atlantic. you, United the things reliant channels is messaging reliably. a simple look e-mail, use kind different those the of You're much new of in the adopt as come to organizations very big and just you more start at like of are have move very are

innovative some we're the to transferring great Silicon more kind and of into parts And across verticals a on terms that depending a think, move and the literally And of of of vertical buyer humans team, industries in see enterprises moving learnings horizons we more years from be transformation now of we of includes economy to so some across Valley the more job, ways and geos tends moving structuring tech and more parts or their there and do where to competition also more in I to working [indiscernible] from [indiscernible] of their conservative companies of It time starting of skill slowly. their another to and -- startups conservative are that to ago, sets like different that saw several sometimes engagement. their ways places world. one customer the from are in ways from trends

strength as seen get of new areas And that ways. our in places. a out can massive lot economy behave of into those the learnings different benefit of leverage in But those able they and to different strength competitive And play in efficient across so splits a to we've to if because seeing a try make those we're movies more parts out simultaneously we lot we of a order footprint before. global bring effectively be those

with Raymond Brian James. Our Peterson next question from comes

that there's expansion helpful. there X-figure in So channels, the of geos, curious see Bill, I'm great volume, to commonality any what the perspective any would be terms customers. if of drove in new

actually, X in Yes. of Across the stories different them each place.

another One existing into of by primarily and of of driven and -- really third channel of of by parts driven the driven projects. expansion existing and them, one kind the growth business expansion geo-expansion, new more by new the

Braze's opportunities. And so example X you of tremendous lot I a the into still all them, of run. think amount there's diversification of actually without that, a room a within detail even see great And within of to going of

comprehensiveness them, lies as both I of So about to that of deliver we the the as us. think testament excited ahead Braze's well still we're value as opportunity a that and offering the

from take from from a VanVliet next question Luria Matt question at comes D.A. Gil Our BTIG. Davidson. We'll

spend trials, around you deal impact new hands on can the into decision? a then customers. use you're when areas overall on any up then get or just and gets maybe product And customers? have expecting maybe and immediately to little things maybe a guess, other that existing their the speeds free more Do capabilities that budget they this cases sizes for within I were hesitant to the importantly, on think make expansionary

Yes.

in change I in actually utilized not So material of sort enterprise I in cycles. our sandbox think they deal expecting environment deal it average -- mentioned have prices things we're sale commercial been more cycles have before, were any like to because as than

pressure into there. motions other of over And then growth term, But puts not side. commercial see come parts so the it some or of some kind product. sort product-led moved this seen longer on anticipating And change I expecting organizations, of downward points we far volume within think as some other great of we've the yes, the proof as more into we've that we're maybe so -- any big

like on we have allowed -- our catalogs offering. model a So as freemium things we've product

customers Content that Cards for trial out. to existing allows that We -- have to a option test for customers

And to be a so existing to for we've examples of able already an customer more customer seen quickly. where and efficiently be more being some -- allows great into for expand trial to the parts product allows us to new able

of to That than ancillary that the on The building lot same that trial. And manner. are new benefit the new rise get expecting also, that work those well. of focus onboardings efficient. by up the all just great helps bunch Remember going onboarding be those and We done more a our We then the will free at around play And integration and running to do trial certainly partner It's be the a of easily. kind build to of to also free delivered things to requirements agencies lot able of rather customers those And more and are customer self-serve be boats our that to when will the more out ecosystem. speed and product are a ideas able partner early to think that more from I able integrations a a just quickly, a this. That customer of ecosystem make with think usability, environment. of the to to benefits content lot improve a so it's self-serve in perspective. of as campaign and kind overall more we're ramp also up our onboarding, going onboarding gets there's there's be think so to going satisfaction. that going integrations,

from next Berg Our comes question Wells Michael Fargo. with

something some via for A entrenched one some of deals being you're potentially We expand deals [ Is platform you budgets? do data in initiatives. budgets anecdotes with capabilities guys within enterprises data either data winning or data we a winning Or about how you of trend? seeing can that ] are more those here. quick refer oneX Or one-offs? you think data? your and How more

Yes.

of my to to I deliver to get to customer in So the is footprint, to being goal total -- at important part them. you to in bifurcated deliver an ownership messages. are when maybe these I that That purchasing data talk organizations. want about actually it. the those And look of of certain end well need while engagement data into that as able Braze, of order things includes of talk cost When I kind as customers, great

budgets stakeholders the co-located. in And seeing also are you're decisions. that But in so buying those of the a think also evidence, that of and anecdote pretty technical that these importance and usually lot you're I seeing

very engineering are but only groups coming as product lot, in out engineering we've to not them of in -- order make several groups. term, that so talking of we the speaking last delivering why on. And stakeholders, those advantage coming been and kind we've trials about years, free the of buyers, or And that's to that out lot hard it's Braze the sometimes they are over done there's a data or a think really in sure it's that's the whether a involved to budgets are will product big and catch they're one have technical we long frankly up that

the are with. versus technical highly the We with starting that a expose and I at to the into be the down to layers organizations decision aware, got Braze's performance as Braze groups with of kind -- can and up we've build of Braze that noisy the that deliver, you different to companies As been over of competitive build able scale stakeholders effective abstraction alone the landscape. that stands very it's our we of the have instead [indiscernible] message everyone think engaged. lot And technical terms grapple down years, of in in stability stack leaned and that APIs, is comprehensiveness we where really

that can I with just we with a engineering testament a that the very that buy seeing positive And take fact deliver Braze, is are that, software Braze stakeholders see you're opening When would as really that bidding their so you're often. that you in what seeing strong to happened sign. to technology those And wallets don't order organizations.

Our from Capital. Yun from Kim next Loop question comes

in channel there driving that out or lower-priced grow international also, And you're the more the second as the change or in faster? back seeing continues business e-mail? channels the international half macro channels like towards mix channel the expecting Any noticeable mix is to you're

Yes. I a of we that is in quarters. introduced last mean, couple obviously, channel the WhatsApp

we're channel. So seeing there uptake of healthy that

channel overall, across think mix, meaningful we're not them. the seeing shift of I among sort

structure channels You'll personally channels, continue would as volumes you new But with to to course, then into volumes increases. totals. we mix kind see cost more of change of the I lower across the introduce will see that don't start marginally anticipate that, time. lower the cost those over as

I of think do cost Yes. to marginal different your about channels. question And

they're using have of places. rationalizing lot across We customers a seen just what the channels board and what

SMS around I little an advertising, think marketing both a e-mail or you customer it's delivering a over send app e-mail of have performance or that the But than that SMS, in the performance like volumes marketing. where more brand cases we seeing like base bit happen in volumes and a it marginal would often compared rather think them a you're optimizations X-factor don't a definitely, lot code, of remember of lot a because less the on concern enhancement than over a -- utility utility But lower I as use which delivering the costs cost are of more we stay to and to that cases really example. of really use upmarket relationship. customer we're our tried more premium those already lot to to their because where more. value rather They're

And more question. Hickey. we time one for have Jeff

NRR XX-month since This is it's the is get in McGinnis. number the you on tough report to might Isabelle, basis, what Taylor trailing have insight a into quarter. happened

have as provide then have you that there weighed you slower optimizations base can relates that And larger to in the any changes gross might more churn? there of So in in-period NRR in seen? that to flag upsells any net color were renewal the quarter, the if terms on were that? And or might

Yes.

of answered is seeing you're roll earlier, So as some I the mentioned questions off. that I in some what the of

XX-month the identified correctly trailing You basis.

elevated there in the sustained from prior basis. unexpected was of level perspective, I is gross does at that a X-quarter trailing. it would sort QX. continue of that lost some the remain Churn like is anything quarter not than a we that roll-off that to a in more from say of would we So churn

mixing the of stronger continued is of then we're So some quarters. would that I the quarters say compounding into and obviously historically losing the subsequent

versus that's guide that had embedded QX. think in we I So own were what in happened abnormal our or what expecting you're seeing Nothing QX. in

There more are queue. the no questions in

the to call now So for pass I back remarks. will Bill closing

the today. All Day conference We on and Yes. right. just Investor a support, weeks. [ to appreciate Thank or you our in you interest and road for or joining Forge ] soon a call everyone the to we're looking at your forward continued seeing at few