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Provides a customer engagement platform that helps brands send personalized push, email and in-app messages.
Provides a customer engagement platform that helps brands send personalized push, email and in-app messages.
Sells annual subscriptions priced on the number of end users it engages and the volume of messages and data it handles, so customers' growth lifts its revenue. A customer typically starts with one channel, such as push, then adds email, in-app messages and others on the same platform.
Moat: narrow (switching costs, data, customer qualification). Deep integration into customer data and messaging workflows makes switching platforms costly for marketing teams.
Headquarters: New York, New York, United States · Founded: 2011 · Employees: 1,988
Size Braze (BRZE) is a United States Information Technology company (Internet Software/Services) with a market value of $5.20B, the 1158th largest of 3,117 United States companies the cockpit tracks. Shares closed at $45.79 on 6 Nov 2026.
Performance Over six months the shares gained 110.8%, against +5.9% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 27.4% over the last twelve months (peer median +7.9%); the operating margin is -13.2% (peer median 24.7%).
Valuation It trades at 57.1× forward earnings against a peer median of 29.2× (6th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +38%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 38.6 points below its cost of capital (8.7% WACC).
Backlog Backlog (remaining performance obligations) was $1.09B at 31 Jul 2026, up 27% on a year earlier — 1.3 years of trailing revenue. Backlog detail →
Short interest Short interest is 7.4% of the free float (15 Oct 2026).
Next results Next results expected around 8 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $834M | $738M | $593M | $472M | $355M |
| Revenue growth | — | +24% | +26% | +33% | — |
| Gross profit | $550M | $496M | $410M | $324M | $240M |
| EBITDA | -$85.5M | -$113M | -$112M | -$137M | -$144M |
| Net income | -$113M | -$131M | -$104M | -$129M | -$139M |
| Free cash flow | $84.0M | $61.9M | $23.4M | -$2.91M | -$37.8M |
| Capital expenditure | $12.5M | $13.4M | $17.0M | $13.3M | $16.7M |
| Total debt | $96.4M | $82.7M | $87.4M | $90.6M | $51.3M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Braze BRZE | $5.20B | +111% | +27% | -13% | 57.1× | 27.9% |
| Salesforce CRM | $176B | +18% | +11% | 22% | 14.6× | 13.7% |
| Adobe ADBE | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% |
| Klaviyo KVYO | $5.90B | +36% | +29% | -2% | 19.7× | 7.0% |
| Zeta Global ZETA | $7.79B | +81% | +36% | 3% | 28.2× | 49.7% |
| HubSpot HUBS | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% |
| Twilio TWLO | $31.3B | 0% | +19% | 8% | 30.7× | 38.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BRZE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +60.9% | +8.8% | 2nd highest of 21 |
| 6-month return | +110.8% | +5.9% | highest of 20 |
| Distance from 52-week high | -0.9% | -26.6% | highest of 21 |
| Revenue growth (TTM) | +27.4% | +7.9% | 2nd highest of 21 |
| Operating margin | -13.2% | 24.7% | 2nd lowest of 21 |
| Forward P/E | 57.1× | 29.2× | 6th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 27.9% | 13.1% | 5th most demanding of 16 |
| Growth delivered (Del g) | +37.5% | +11.1% | highest of 16 |
| Hurdle (Req g minus delivered) | -9.6 pp | +6.7 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | -38.6 pp | -0.1 pp | lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Braze BRZE | United States | $5.20B | +111% | +27% | -13% | 57.1× | 27.9% | +37.5% |
| Vend Marketplaces VEND.OL | Norway | $5.11B | -4% | -14% | 29% | 35.2× | 10.7% | -13.2% |
| Rightmove RMV.L | United Kingdom | $5.38B | +35% | +7% | 66% | 18.1× | 11.6% | +15.6% |
| Autotrader AUTO.L | United Kingdom | $5.68B | +12% | +4% | 62% | 14.3× | -0.7% | +18.9% |
| PB Fintech POLICYBZR.NS | India | $4.74B | -43% | +37% | 7% | 41.0× | n/a | n/a |
| Mobility Global MBGL | United States | $5.79B | n/a | +8% | 51% | 13.2× | -6.0% | +8.5% |
| AUTO1 AG1.DE | Germany | $4.34B | -14% | +21% | 1% | 29.2× | n/a | n/a |
| CAR CAR.AX | Australia | $6.85B | -3% | +6% | 38% | 28.5× | 21.8% | +24.0% |
| Scout24 G24.DE | Germany | $6.99B | +19% | +16% | 49% | 22.3× | 10.3% | +12.9% |
| SMG Swiss Marketplace SMG.SW | Switzerland | $3.77B | +7% | +13% | 35% | 23.9× | 5.8% | +12.4% |
| Seek SEK.AX | Australia | $3.59B | +8% | +17% | 24% | 25.8× | 17.7% | +11.1% |
| Crisil CRISIL.NS | India | $3.40B | +6% | +24% | 26% | 35.0× | n/a | n/a |
| Info Edge India NAUKRI.NS | India | $8.18B | +21% | +13% | 34% | 59.6× | 51.8% | +23.8% |
| People PPLI | United States | $3.16B | -4% | -29% | 2% | 38.9× | 36.5% | -2.8% |
| Mango Excellent Media 300413.SZ | China | $9.77B | +79% | +10% | -3% | 143.0× | 13.1% | -0.3% |
| People.cn 603000.SS | China | $2.69B | -15% | 0% | 12% | 77.2× | 28.6% | -0.4% |
| Aditya Birla Sun Life Amc ABSLAMC.NS | India | $2.68B | -19% | +4% | 60% | 23.9× | n/a | n/a |
| Youdao, Inc. Sponsored ADR DAO | United States | $2.50B | +59% | +10% | 4% | 59.4× | 33.6% | +17.6% |
| Shanghai Great Wisdom 601519.SS | China | $2.49B | -18% | +6% | -8% | n/a | n/a | n/a |
| Winning Health Technology 300253.SZ | China | $2.31B | -19% | +6% | -20% | 351.5× | 18.9% | -1.4% |
| Gartner IT | United States | $12.0B | +20% | 0% | 19% | 11.8× | -4.0% | +9.6% |
Braze reported $1.09B of remaining performance obligations at 31 Jul 2026, up 27% from a year earlier and up 1% from the previous quarter. That is 1.3 years of trailing revenue already under contract. Book-to-bill last quarter: 1.06.