Braze (BRZE) just closed out FY 2026 with fourth quarter revenue of US$205.2 million and a basic EPS loss of US$0.29, while the trailing twelve months show revenue of US$738.2 million and a full year basic EPS loss of US$1.22. Over recent periods, the company has seen quarterly revenue move from US$160.4 million in Q4 FY 2025 to US$205.2 million in Q4 FY 2026, with basic EPS losses in those quarters of US$0.17 and US$0.29 respectively. With losses still weighing on margins, the latest numbers put the focus firmly on how quickly Braze can turn growing revenue into a path toward healthier unit economics.
See our full analysis for Braze.With the headline figures in place, the next step is to compare these results with the most widely held narratives about Braze to see which stories are backed up by the numbers and which ones start to look less convincing.
See what the community is saying about Braze
Revenue Near US$740 Million, But Losses Remain Heavy
- On a trailing 12 month basis, Braze generated US$738.2 million of revenue but recorded a net loss of US$131.3 million, with basic EPS at a loss of US$1.22.
- Consensus narrative points to AI features, OfferFit integration, and broader geographic coverage as drivers of future revenue growth. However, the current loss profile and the forecast that Braze is not expected to be profitable over the next three years highlight how much needs to change before that growth translates into positive earnings.
Quarterly Losses Range From About US$27 Million To US$36 Million
- Across FY 2026, quarterly net losses ranged from US$27.9 million to US$36.0 million, and basic EPS losses moved between US$0.26 and US$0.34, showing that each quarter of the year remained firmly in loss making territory.
- Bears focus on this steady run of quarterly losses and cite the past five year trend of losses growing about 13.5% per year, along with expectations for at least three more years of unprofitability, as evidence that ongoing spending on R&D, sales, and acquisitions like OfferFit could keep net income under pressure for longer than optimistic investors might hope.
- The FY 2026 Q4 loss of US$31.6 million, following Q3 and Q1 losses of roughly US$36 million, aligns with the cautious view that high operating costs are still a central feature of the business.
- With trailing 12 month net losses of US$131.3 million compared with forecasts for continued losses, bears argue that efficiency gains and integration benefits need to be more visible in the income statement before the risk side of the story changes much.
P/S Of 3.3x And DCF Fair Value Above Market Price
- Braze is reported trading on a P/S of 3.3x, compared with 3.8x for peers and 3.4x for the US Software industry, and the shares are described as about 39.1% below a DCF fair value of roughly US$35.48, while the current share price is US$21.60.
- Bullish investors point to this gap between the current price and the DCF fair value, along with revenue forecast at roughly 14% annual growth, as support for a more optimistic view. However, the same data showing continued losses and no profitability expected in the next three years creates a clear tension between hopes for future margin improvement and the present reality of negative earnings.
- The combination of a lower P/S than peers and a share price below both the US$35.48 DCF fair value and the US$35.10 analyst price target is what bulls often cite when arguing valuation looks supportive.
- At the same time, the track record of widening losses and recent insider selling over the last three months provides concrete figures that more cautious investors weigh against that valuation gap.
Next Steps
To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Braze on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.
With bulls and bears both finding support in the same set of numbers, it helps to look directly at the underlying data and decide where you stand. A good place to start is by weighing up the company's mix of concerns and bright spots through its 3 key rewards and 3 important warning signs.
Explore Alternatives
Braze is still running sizeable quarterly losses, with no profitability expected in the next three years. This keeps its risk profile and execution questions front and center.
If steady losses and extended unprofitability make you cautious, it makes sense to weigh that against 75 resilient stocks with low risk scores that focus on resilience and stronger downside protection.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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