Braze (NASDAQ:BRZE) stock is on the move Tuesday after the company released its earnings report for the third quarter of 2021.
Let’s break down that earnings report below to reveal what has BRZE stock heading higher today!
BRZE Stock Earnings
- Beginning the positive earnings report is an adjusted loss per share of 16 cents for Braze.
- That’s much better than the -60 cents per share that Wall Street was expecting.
- It’s also an improvement over the -35 cents per share reported during the same time last year.
- In addition to that, BRZE revenue for the period was $63.97 million.
- That’s a solid beat compared to analysts’ estimate of $56.39 million for the quarter.
- It also represents a 62.6% revenue increase year-over-year.
- The cloud-based software company attributes this growth to new customers, upsells, and renewals.
- Positive guidance is also pushing BRZE stock higher today.
- That includes Q4 estimates for adjusted losses per share of 19 cents to 20 cents and revenue between $65 million and $66 million.
- For comparison, Wall Street’s looking for -22 cents per share on revenue of $61.36 million.
- That good news continues with strong fiscal 2021 guidance.
- Among that are estimates for adjusted losses per share of 90 cents to 93 cents on revenue of $232.5 million to 233.5 million.
- Analysts are expecting adjusted per-share losses of $1.14 on revenue of $221.24 million for the year.
- It’s also worth noting that BRZE stock only just recently went public.
- The company listed its shares last month via an initial public offering.
- That included 8 million shares priced at $65 each.
Bill Magnuson, cofounder and CEO of Braze, said the following in the earnings report.
“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.”
BRZE stock is up 11.8% as of Tuesday morning but is still down 22.1% since its IPO.
There’s more stock market news to jump into below!
We’ve got all the most recent stock news that traders need to know about for Tuesday! That includes what’s happening with shares of AeroClean Technologies (NASDAQ:AERC), Biofrontera (NASDAQ:BFRI), and Cassava Sciences (NASDAQ:SAVA). You can get into that news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.