Braze, Inc. Stock Price, News & Analysis

Braze (Nasdaq: BRZE) has announced a definitive agreement to acquire North Star, its exclusive reseller in Australia and New Zealand (ANZ). This acquisition, expected to close in Q2 of FY24, aims to establish a direct market presence for Braze in the ANZ region. North Star has been Braze's reseller since 2016, serving major clients like Canva and KFC Australia. The deal will enhance Braze's operational efficiency and expand its market reach, leveraging North Star's local expertise and existing customer relationships.

Braze (Nasdaq: BRZE) reported a 40% year-over-year revenue growth in Q4 2023, reaching $98.7 million, driven by new customers and upsells. For the fiscal year, total revenue was $355.4 million, a 49.3% increase from the prior year. The company achieved a dollar-based net retention rate of 124% for the trailing 12 months. GAAP operating loss improved to $36.5 million, down from $42.6 million. Braze has initiated guidance for FY 2024 with revenue projected between $433 million and $438 million. The company also plans to acquire North Star, enhancing its presence in the Australia and New Zealand markets.

WPP has announced a strategic partnership with Braze, focusing on integrations to boost customer engagement through first-party data. This collaboration aims to enhance client abilities in customer activation, retention, and loyalty strategies by providing tailored, agile solutions and real-time segmentation. Clients will gain early access to innovative products and training. WPP, recognized as Braze’s most accredited global partner, plans to integrate creative and data capabilities with Braze’s technology for seamless, impactful customer experiences. This partnership positions both companies to set new standards in cross-channel marketing.

Braze announced the general availability of native support for WhatsApp on its customer engagement platform. This integration enables marketers to orchestrate and send WhatsApp campaigns directly through Braze, leveraging the platform’s rich features and two-way messaging capabilities. With over 2 billion active users, WhatsApp is crucial for personalized customer interactions that drive conversions. Brands can streamline onboarding and optimize marketing spend by eliminating redundant technologies. Early results from clients, like Lookiero, show up to a 28% uplift in campaign effectiveness compared to other channels, highlighting the potential for improved customer retention.

Braze (NASDAQ: BRZE) has announced its upcoming financial results for the fourth quarter of fiscal year 2023, concluding on January 31, 2023. The results will be released after U.S. markets close on March 30, 2023. A conference call to discuss these results will occur at 5:00 PM ET the same day, available via their investor site. Braze is recognized as a leader in customer engagement, enabling brands to optimize marketing campaigns through real-time data processing. The company has received accolades for its workplace culture, including Fortune's Best US Workplaces in Technology.

Braze (Nasdaq: BRZE) has released its third annual Global Customer Engagement Review, highlighting key marketing insights in a challenging economic environment. The report reveals that 99% of marketers intend to adjust their customer engagement strategies as consumer spending tightens. Notably, 45% of brands allocated over half their budgets to retention in 2022, a rise from 33% in 2020. Moreover, brands employing cross-channel strategies reported a 55% higher retention rate. However, 80% of companies struggle with data management, hindering effective consumer engagement. These insights reflect responses from 1,500 marketing decision-makers across 14 countries.

Braze (Nasdaq: BRZE) has launched the third cohort of its Tech for Black Founders product grant program, aimed at supporting Black entrepreneurs in Canada, EMEA, and the U.S. The program will select 15 founders to receive 12 months of free access to Braze technology and resources, with applications open until February 19. In 2022, Braze awarded grants totaling $744,000 to 22 Black-founded businesses. The initiative addresses the underrepresentation of Black founders, who received only 1% of VC funding in the U.S. in 2022. Eligible applicants must identify as Black founders, with bootstrapped businesses or less than $30M in VC funding.

Braze (Nasdaq: BRZE) has appointed Priyanka Singh as Chief People Officer, enhancing its leadership team. With nearly 20 years of HR experience, Singh previously served as Chief People Officer at Compass and has a strong background at Bridgewater Associates. Braze also promotes Myles Kleeger to President & Chief Commercial Officer and Astha Malik to Chief Business Officer, aligning its go-to-market strategy with growth objectives. The management changes aim to foster a culture of inclusion and support Braze's expansion in customer engagement.