Braze, Inc.BRZE

Braze, Inc. Revenue Disclosure

10-KFiled Mar 31, 20252 min read
Revenue from Contracts with Customers
Disaggregated Revenue Streams

The following disaggregation depicts the nature, amount, timing and uncertainty of cash flows related to the primary types of revenue from contracts with customers.

The following table presents total revenue by type (in thousands):

Fiscal Year Ended January 31,
202520242023
Subscription$570,295 $451,079 $338,351 
Professional services and other23,115 20,721 17,075 
Total$593,410 $471,800 $355,426 
The following table presents total revenue by geography (in thousands):

Fiscal Year Ended January 31,
202520242023
United States$326,448 $267,224 $204,931 
International266,962 204,576 150,495 
Total$593,410 $471,800 $355,426 

Revenue by geography is determined based on the location of our users. Other than the United States, no other individual country accounted for 10% or more of total revenue for any of the periods presented.

Unbilled Accounts Receivable

Unbilled accounts receivable included in trade accounts receivable, net, which generally arise from our contractual right to bill our customers in advance of services on the contract effective date, were $1.6 million and $1.5 million as of January 31, 2025 and January 31, 2024, respectively.

Contract Balances

Contract Assets

Contract assets as of January 31, 2025 and January 31, 2024 were $0.8 million and $0.9 million, respectively. The change in contract assets for all periods presented primarily reflects revenue recognized in excess of billings partially offset by contract assets earned during the period.

Deferred Revenue

The change in deferred revenue for all periods presented primarily reflects cash payments received during the period for which the performance obligation was not satisfied prior to the end of the period, partially offset by revenues recognized during the period. Revenue recognized during the fiscal year ended January 31, 2025, 2024, and 2023 from amounts included in deferred revenue at the beginning of each respective period was $204.1 million, $165.6 million, and $126.1 million, respectively.

Credit Losses

The following table presents a reconciliation of the allowance for credit losses on accounts receivable (in thousands):

Allowance for Credit Losses
Balance at January 31, 2024
$2,772 
Reserve:
Credit losses2,331 
Deferred revenue2,536 
Write-offs(5,395)
Recoveries319 
Balance at January 31, 2025
$2,563 

Remaining Performance Obligations

The transaction price allocated to remaining performance obligations represents amounts under non-cancelable contracts expected to be recognized as revenue in future periods, and may be influenced by several factors, including seasonality, the timing of renewals, the timing of service delivery and contract terms. Unbilled portions of the remaining performance obligations are subject to future economic risks including bankruptcies, regulatory changes and other market factors.

The following table presents remaining performance obligations as of the dates indicated below (in millions):
TotalLess than 1 Year
1-5 Years
January 31, 2024$639.2 $409.1 $230.1 
April 30, 2024657.3 419.8 237.5 
July 31, 2024689.6 438.3 251.3 
October 31, 2024716.8 458.2 258.6 
January 31, 2025
793.1 505.2 287.9 
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About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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