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 the third straight quarter.

• Customer count grew 14% year-over-year to 2,609, with large customers ($500K+ ARR) up 35% to 333, now contributing 64% of total ARR.

• Trailing 12-month dollar-based net retention was 109%, with strong enterprise bookings and notable new customer wins.

• Launched BrazeAI Decisioning Studio, Agent Console, and Operator, with rapid product delivery and general availability ahead of schedule.

• 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 $14.5 million (7.1% margin), up from $7.9 million 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.

• Q4 free cash flow was $13.9 million; full-year free cash flow reached $58.1 million.

• Ended Q4 with $416 million in cash and equivalents; quarterly bookings rose over 50% year-over-year with record average sales price.

Outlook and guidance

• Q1 FY27 revenue guidance: $204.5–$205.5 million (26% year-over-year growth at midpoint), with non-GAAP operating income of $10–$11 million.

• FY27 revenue guidance is $884–$889 million (20% year-over-year growth at midpoint), with non-GAAP operating income of $69–$73 million (8% margin, up 400+ bps year-over-year).

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