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EX - 99.1 2 d262464dex991.htm EX - 99.1 BRAZE REPORTS FISCAL THIRD QUARTER 2022 RESULTS — Exhibit 99.1 Third quarter revenue grew 62.6 % year - over - year to $ 64.0 million Achieved dollar - based net retention of 126 % for the trailing 12 months Introduces fourth quarter and full year fiscal 2022 guidance NEW YORK ( BUSINESSWIRE ) - December 20 , 2021 — Braze ( Nasdaq : BRZE ) a leading comprehensive customer engagement platform that powers interactions between consumers and brands they love , today announced results for its fiscal quarter ended October 31 , 2021 . braze Fiscal Third Quarter Financial Highlights " Brands increasingly recognize that building direct relationships with customers through memorable and personalized experiences is essential for long term success , and they're turning to Braze to succeed at that imperative , " said Bill Magnuson , cofounder and CEO of Braze . “ Exemplary execution combined with strong demand allowed us to deliver outstanding third quarter results , demonstrating high growth at scale . We are in the early stages of addressing a large market opportunity in the customer engagement space , and we believe Braze can help all brands create valuable customer experiences that drive growth and retention . " Revenue was $ 64.0 million compared to $ 39.3 million in the third quarter of the fiscal year ended January 31 , 2021 , up 62.6 % year - over year , driven primarily by new customers , upsells and renewals . Subscription revenue in the quarter was $ 59.3 million compared to $ 36.8 million in the third quarter of the fiscal year ended January 31 , 2021 , and professional services and other revenue was $ 4.7 million compared to $ 2.5 million in the third quarter of the fiscal year ended January 31 , 2021 . Remaining performance obligations as of October 31 , 2021 was $ 304.0 million , of which $ 199.1 million is current . GAAP Gross Margin was 70.0 % compared to 63.3 % in the third quarter of the fiscal year ended January 31 , 2021 Non - GAAP Gross Margin was 70.3 % compared to 63.8 % in the third quarter of the fiscal year ended January 31 , 2020 . Dollar - based net retention for all customers for the trailing 12 months ended October 31 , 2021 and October 31 , 2020 was 126 % and 124 % , respectively ; dollar - based net retention for customers with annual recurring revenue ( ARR ) of $ 500,000 or more was 136 % compared to 134 % in the third quarter of the fiscal year ended January 31 , 2021 .