Braze, Inc.BRZE

Braze, Inc. Earnings Per Share Disclosure

10-KFiled Mar 31, 20252 min read
Net Loss per Share
We compute the basic and diluted net loss per share of our Class A common stock and Class B common stock. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share in the Company’s net loss.

The following table sets forth the computation of basic and diluted net loss per share attributable to Braze, Inc. common stockholders during the periods presented (in thousands, except per share amounts):
Fiscal Year Ended January 31,
202520242023
Numerator:
Net loss attributable to Braze, Inc.$(103,743)$(129,166)$(138,966)
Denominator:
Weighted-average shares of Braze, Inc. common stock outstanding102,189 98,099 94,597 
Less: weighted-average unvested shares of Braze, Inc. subject to repurchase— (3)(28)
Weighted-average shares used to calculate net loss per share attributable to Braze, Inc. common stockholders, basic and diluted102,189 98,096 94,569 
Net loss per share attributable to Braze, Inc. common stockholders, basic and diluted$(1.02)$(1.32)$(1.47)
The following outstanding shares of potentially dilutive securities have been excluded from diluted net loss per share attributable to Braze, Inc. common stockholders for the periods presented, because their inclusion would be anti-dilutive (in thousands):
Fiscal Year Ended January 31,
202520242023
Options to purchase common stock5,081 6,121 8,172 
Restricted stock units6,044 6,264 4,626 
ESPP shares estimated to be purchased113 92 121 
Total11,238 12,477 12,919 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsCommitmentsStock CompensationNew StandardsPay vs Performance