Braze (BRZE) Q4 2026 earnings summary

Executive summary

• Q4 revenue reached $205.2 million, up 28% year-over-year and 8% sequentially, with accelerating organic growth for three consecutive quarters.

• Customer count grew 14% year-over-year to 2,609, with large customers ($500K+ ARR) rising 35% to 333.

• Trailing 12-month dollar-based net retention was 109%, and remaining performance obligations surpassed $1 billion.

• AI-driven product innovation, including BrazeAI Decisioning Studio, Agent Console, and Operator, is driving customer adoption and competitive differentiation.

• Recognized as a Strong Performer in Forrester Wave, received multiple G2 and workplace awards, and published a global customer engagement review.

Financial highlights

• Q4 non-GAAP gross profit was $138 million (67.2% margin), down from 69.9% last year due to higher messaging and hosting costs.

• Q4 non-GAAP operating income was $15 million (7% margin), up from $8 million (5% margin) last year.

• Q4 non-GAAP net income was $11 million ($0.10/share), or $16 million ($0.15/share) excluding a $5 million one-time tax adjustment.

• Free cash flow for Q4 was $13.9 million; year-end cash and equivalents totaled $415.9 million.

• Full-year 2026 revenue grew 24.4% to $738.2 million, with non-GAAP operating income of $28.5 million and free cash flow of $58.1 million.

Outlook and guidance

• Q1 FY27 revenue expected at $204.5–$205.5 million (26% year-over-year growth at midpoint); non-GAAP operating income $10–$11 million.

• FY27 revenue guidance is $884–$889 million (20% year-over-year growth at midpoint); non-GAAP operating income $69–$73 million (8% margin).

• FY27 non-GAAP net income expected at $69–$73 million ($0.61–$0.65/share).