Braze(US:BRZE)2022-06-13 22:23Financial Performance - Revenue reached $77.5 million, a 61.9% year-over-year increase and a 10.0% sequential growth[6] - Quarterly revenue run rate is $310 million[4] - GAAP gross margin was 66.6%, a decrease of 40 basis points year-over-year, while non-GAAP gross margin was 67.8%, an increase of 40 basis points year-over-year[6] - GAAP operating loss was $39.6 million, compared to a $13.0 million loss in the prior year quarter; non-GAAP operating loss was $18.0 million, compared to a $6.1 million loss in the prior year quarter[6] - Free cash flow was $15.7 million, compared to $(4.6) million in the prior year quarter[6] Customer Metrics - The company has 1,503 customers in over 60 countries[4] - Customer count increased to 1,503 as of April 30, 2022, representing a 50% year-over-year growth[7, 9] - There are 129 customers with over $500K+ ARR, up 65% year-over-year[9] - Dollar-based net retention rate was 127%[4, 6] - Subscription revenue accounts for 94% of total revenue[4] Future Outlook - Q2'23 revenue is projected to be between $80.5 million and $81.5 million, and full fiscal year 2023 revenue is projected to be between $345.0 million and $349.0 million[11] - Q2'23 non-GAAP operating loss is projected to be between $(19.5) million and $(20.5) million, and full fiscal year 2023 non-GAAP operating loss is projected to be between $(77.0) million and $(81.0) million[11] Remaining Performance Obligations - Total remaining performance obligations reached $390.9 million, a 57% year-over-year increase[10]