Braze stock gains 9% on Q1 beat & strong guidance

Braze (NASDAQ:) shares surged more than 9% after-hours following the company’s Q1 earnings, with EPS of ($0.13) coming in better than the consensus estimate of ($0.18).

Revenue grew 31.3% year-over-year to $101.8 million, beating the consensus estimate of $98.99M, driven primarily by new customers, upsells, and renewals.

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

For Q2/24, the company expects EPS of ($0.13)-($0.14), compared to the consensus of ($0.16), and revenue of $108M-$109M, compared to the consensus of $107.18M.

For the full year, the company expects EPS of ($0.51)-($0.55), compared to the consensus of ($0.55), and revenue of $442.5M-$446.5M, compared to the consensus of $436.43M.