• by Ray Schultz , June 9, 2023

Customer engagement platform Braze generated $101.8 million in Q1 2024 revenue -- a 31.3% increase over the $77.5 million reported for the same period last year. 

Subscription revenue rose to $97.1 million, compared to $72..8 million in the firm’s Q1 2023. 

The GAAP operating loss was $41.9 million compared to $39.6 million in Q1 of the prior year. The loss included $24.1 million of stock-based compensation expense.

The non-GAAP operating loss was $16 million compared to  $18.0 million in the previous year.

“We are off to a great start to fiscal 2024, delivering impressive results driven by strong demand for the Braze Customer Engagement Platform,” said Bill Magnuson, cofounder and CEO of Braze.

Braze is projecting revenue of $108-$109 million for Q2, and $442.5 million to $446.5 million for the 2024 fiscal year.

In addition, it foresees a non-GAAP operating loss of $15 million to $16 million for Q2, and $54 million to $58 million for the fiscal year.