Braze: Solid Quarter but Profit Concerns

Here's our initial take on Braze's (NASDAQ: BRZE) financial report.At first glance, Braze's fiscal first-quarter earnings look pretty solid. The customer engagement platform company beat expectations on both the top and bottom lines. Revenue climbed by nearly 20% year over year with strong growth in both subscription revenue and professional services.Furthermore, profitability improved significantly. Braze's adjusted gross margin widened by 140 basis points compared to the same period a year ago. Plus, Braze posted an adjusted net profit for the quarter, while it posted a loss in the same fiscal quarter last year. Free cash flow more than doubled year over year to $22.9 million. Additionally, the company's customer count increased by about 10% year over year, and there are 24% more customers spending $500,000 or more annually compared with a year ago.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool