Braze Inc (NASDAQ:BRZE) stock fell 9.40% (As on March 28, 11:11:32 AM UTC-4, Source: Google Finance) though the company posted better than expected results for the fourth quarter of FY 24. Subscription revenue in the quarter was $125.9 million compared to $94.8 million in the fourth quarter of the fiscal year ended January 31, 2023, and professional services and other revenue was $5.1 million compared to $3.9 million in the fourth quarter of the fiscal year ended January 31, 2023. Remaining performance obligations as of January 31, 2024 was $639.2 million, of which $409.1 million is current, which we define as less than one year. Non-GAAP gross margin was 67.9% compared to 67.0% in the fourth quarter of the fiscal year ended January 31, 2023. Dollar-based net retention for all customers for the trailing 12 months ended January 31, 2024 and January 31, 2023 was 117% and 124%, respectively; dollar-based net retention for customers with annual recurring revenue (ARR) of $500,000 or more was 120% compared to 126% for the fiscal year ended January 31, 2023. Total customers increased to 2,044 as of January 31, 2024 from 1,770 as of January 31, 2023; 202 of the customers had ARR of $500,000 or more as of January 31, 2024, compared to 156 customers as of January 31, 2023. Non-GAAP operating loss was $7.5 million compared to a loss of $16.7 million in the fourth quarter of the fiscal year ended January 31, 2023. Free cash flow was $(3.5) million compared to $(1.9) million in the fourth quarter of the fiscal year ended January 31, 2023. Total cash and cash equivalents, restricted cash, and marketable securities was $480.0 million as of January 31, 2024 compared to $482.7 million as the fiscal year ended January 31, 2023

BRZE in the fourth quarter of FY 24 has reported the adjusted loss per share of 4 cents, beating the analysts’ estimates for the adjusted loss per share of 5 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 33 percent to $130.96 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue by 5.14%.

Braze sees Q1 2025 EPS to be in the range of $-0.10 versus the analyst consensus of $-0.05. Braze sees Q1 2025 revenue to be in the range of $131.00M-$132.00M versus the analyst consensus of $127.80M.

Braze sees FY 2025 EPS to be in the range of $-0.08 versus the analyst consensus of $-0.02. Braze sees FY 2025 revenue to be in the range of $570.00M-$575.00M versus the analyst consensus of $571.30M.