Braze (BRZE) Wedbush Securities AdTech Conference summary

Executive background and company overview

• CFO joined in 2020, bringing experience from Morgan Stanley and Cognizant, and led the company through its IPO in 2021.

• Company founded in 2011 by technical co-founders, focusing on mobile-driven customer engagement.

• Built as a fully integrated, omni-channel platform with real-time, event-driven engagement capabilities.

• Differentiates through a stream processing architecture and embedded SDK for immediate, personalized interactions.

• Aims to help brands create more valuable, loyal users through personalized messaging and feedback loops.

Competitive landscape

• Main competitors are legacy marketing clouds (Salesforce, Adobe) and single-channel point solutions.

• Legacy competitors rely on batch processing and are limited in real-time, in-product engagement.

• Point solutions struggle to scale seamlessly across multiple channels due to their single-channel origins.

• Company is positioned to win against both legacy and point solution competitors due to its architecture.

Growth strategy and customer expansion

• Growth comes from acquiring new clients, expanding services, and vendor consolidation.

• Upsell opportunities include geographic and brand expansion within existing parent companies.

• Customers often expand usage by adding new channels or increasing volume commitments.

• Current macroeconomic environment creates headwinds for new investments and use cases.

• Significant growth potential remains, especially among large and smaller under-penetrated customers.