Welcome to our dedicated page for Braze news (Ticker: BRZE), a resource for investors and traders seeking the latest updates and insights on Braze stock.
Braze, Inc. (BRZE) is a leading customer engagement platform based in New York, empowering brands to build stronger relationships with their customers through intelligent CRM solutions. With a team of over 100 experts, Braze enables marketers to connect with their audiences on a human level, at scale, driving deep engagement and return on investment (ROI).
The core of Braze's platform is the holistic user profile, providing a comprehensive view of each customer. This profile is supported by robust audience segmentation and advanced multi-channel messaging capabilities. These tools allow brands to leverage user data to create and automate highly personalized marketing campaigns, fostering meaningful dialogues with customers across various devices and channels.
Braze's solutions cater to a wide range of industries, including Retail & E-commerce, Media & Entertainment, Financial Services, and Travel & Hospitality. The platform's vertically integrated stack includes key functionalities such as data ingestion, classification, orchestration, personalization, and action. Notably, Braze's AI engine, Sage AI, enhances these layers, driving intelligent customer engagement.
The company's powerful CRM platform is trusted by thousands of marketers globally, powering over a billion user profiles. High-profile brands like Domino's, Etsy, iHeartMedia, PicsArt, SoundCloud, and Urban Outfitters rely on Braze to engage, retain, and monetize their customers effectively.
Financially, Braze generates the majority of its revenue from the United States and continues to expand its market presence. The company is venture-funded and continuously innovates to enhance its platform and offer more value to its clients. Stay updated with the most recent developments and company news to understand Braze's impact and initiatives better.
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.
Braze (NASDAQ: BRZE), a leading customer engagement platform, will participate in the 25th Annual Needham Growth Conference on January 10, 2023. CEO Bill Magnuson will engage in a fireside chat with Needham Senior Software Analyst Scott Berg at 11:00 am ET. Investors can access a live webcast and replay on the Braze Investor site. Braze is recognized for its innovative customer engagement solutions and has received multiple workplace accolades, including Fortune's Best Workplaces in New York.
Braze reported a 45.6% year-over-year revenue growth, reaching $93.1 million for the third quarter ending October 31, 2022. The company achieved a dollar-based net retention rate of 126% and a total customer base increase to 1,715. Despite this growth, Braze faced a GAAP operating loss of $36.9 million, driven in part by $19.3 million in stock compensation expenses. The company forecasts Q4 revenue between $95 million and $96 million, with a non-GAAP operating loss expected between $(18.5) million and $(19.5) million.
Braze (Nasdaq: BRZE) has announced its support for the AWS for Advertising & Marketing initiative, aimed at enhancing advertising and marketing transformation. The partnership allows Braze to leverage AWS solutions for personalized advertising, optimizing performance, and audience segmentation. Braze processes over half a trillion data points monthly to refine customer engagement. This collaboration is expected to strengthen brand relationships and drive sustainable revenue growth. Braze continues to innovate its platform, enhancing its offerings for marketers.
Braze (NASDAQ: BRZE) will release its third quarter fiscal year 2023 financial results on December 13, 2022, after U.S. market close. A conference call to discuss the results will take place at 5:00 pm ET the same day. Investors can access the webcast on their Investor site. Braze is recognized for its customer engagement platform, facilitating interactions between brands and consumers. It has received accolades as one of Fortune's 2022 Best Workplaces.
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