Braze Rallies As Q1 Revenue Surges

(RTTNews) - Shares of cloud-based software company Braze, Inc. (BRZE) are rising more than 13% Tuesday morning after the company reported more than 60% growth in firs-quarter revenue.

Excluding one-times, the company had loss of $0.19 per share, that beat the average estimate of analysts polled by Thomson Reuters of $0.21 loss per share.

Revenue in the quarter grew 61.9% year-over-year to $77.5 million, on increase in subscription revenue.

Braze, however, reported net loss of $39.27 million or $0.42 per share in the first quarter compared with net loss of $12.83 million or $0.65 per share in the same quarter a year ago, on higher operating expenses.

Looking forward, the company provided second quarter as well as full year outlook, that came in above analysts' view.

For the second quarter, adjusted loss per share is expected to be in the range of $0.19 - 0.20 and revenue to be in the range of $80.5 million - 81.5 million. Analysts expect loss of $0.21 per share on revenue of $81.13 million for the quarter.

For the full year, adjusted loss per share is expected to be in the range of $0.78 - 0.82 and revenue to be in the range of 345 million - 349 million. Analysts expect loss of $0.83 per share on revenue of $340.29 million.

BRZE, currently at $33.45, has been trading in the range of $27.09-$98.78 in the past 52 weeks.