👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Braze stock plunges 14% despite Q3 beat and raise

EditorRachael Rajan
Published 12/10/2024, 05:22 AM
BRZE
-

NEW YORK - Customer engagement platform provider Braze , Inc. (NASDAQ:BRZE) reported better-than-expected third quarter results and raised its full-year outlook, but saw its stock price plummet 14% in after-hours trading on Monday.

The company posted adjusted earnings per share of $0.02, beating analyst estimates of a $0.01 loss per share. Revenue grew 22.7% YoY to $152.1 million, surpassing the consensus forecast of $148.14 million.

"We continued to execute in the third quarter, delivering strong revenue growth and operating leverage," said Bill Magnuson, Cofounder and CEO of Braze.

For the fourth quarter, Braze expects revenue between $155-156 million and adjusted EPS of $0.05-$0.06, both ahead of Wall Street projections. The company also raised its full-year fiscal 2025 guidance, now seeing revenue of $588-589 million and adjusted EPS of $0.10-$0.11.

The company added 200 new customers YoY to reach 2,211 total. However, dollar-based net retention for all customers declined to 113% from 118% a year ago.

Braze ended the quarter with $493.1 million in cash and marketable securities. The company's non-GAAP operating loss narrowed to $2.2 million from $8.9 million in the prior year period.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.