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Braze Inc. (BRZE+0.20%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing shows an increase in revenue to $152,052,000 from $123,956,000 in the same quarter the previous year, representing a growth rate of 22.7%. This increase was primarily driven by a rise in subscription revenue, with growth attributed to both existing and new customers.
Cost of revenue for the quarter was $45,910,000, up from $36,374,000 in the previous year. The increase in cost was mainly due to higher hosting, infrastructure, and third-party messaging fees.
Operating expenses for the quarter totaled $138,712,000, compared to $122,715,000 in the previous year. This increase was largely due to higher personnel costs and marketing expenses.
The company reported a net loss of $28,127,000 for the quarter, compared to a net loss of $30,976,000 in the previous year. The decrease in net loss was primarily due to increased revenue.
Braze's cash, cash equivalents, and marketable securities totaled $493,100,000 as of October 31, 2024. The company continues to invest in its platform and expand its customer base internationally.
The filing also discusses various risks and uncertainties, including competition, changes in technology, and regulatory compliance, which could impact future operations.
Braze's management remains focused on expanding its customer engagement platform and enhancing its offerings to maintain competitive advantage in the market.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Braze Inc. quarterly 10-Q report dated December 10, 2024. To report an error, please email earnings@qz.com.