Braze, the cloud-based software company, has announced an optimistic outlook for its fiscal fourth quarter. The company expects to narrow its losses and achieve higher revenue than previously anticipated.
Year-End Revenue Projections
Braze predicts that its revenue for the year ending in January will fall in the range of $465 million to $466 million. This surpasses analysts' expectations of $454.1 million, according to FactSet.
Furthermore, after excluding one-time items, Braze forecasts earnings per share of 26 cents to 27 cents. In contrast, analysts polled by FactSet estimated adjusted losses of 38 cents for the year.
Fourth Quarter Expectations
For the fourth quarter, Braze anticipates generating revenue of $124 million to $125 million. Additionally, the company projects adjusted losses per share in the range of 4 cents to 5 cents.
Comparatively, analysts surveyed by FactSet predicted revenue of $119.9 million and adjusted losses per share of 7 cents for the same period.
Strong Third Quarter Performance
Braze's optimistic outlook follows a strong performance in the third quarter. During this period, the company reported a 33% increase in revenue, driven by significant customer gains.
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