Braze, Inc. Class A Common Stock Piper Sandler 5th Annual Growth Frontiers Conference

Yeah, great to be here. I assume we're both Williams as well.

Didn't clear that up front.

Yeah, sure. I'll just start there. Braze is a customer engagement platform. We primarily help B2C brands, but brands of all kinds who are looking to better understand their first-party customer relationship, and take direct action on it in order to build stronger customer relationships over time. What that literally means is that we collect tens of trillions of first-party data points every year. We process those through a real-time AI-enhanced stream processor in order to then send, I think we sent between 4 and 5 trillion messages last year on behalf of brands, all of which are being orchestrated and personalized using first-party contacts and first-party data and advanced AI. We're going to talk about a lot of that today. I think from the print, definitely an exciting quarter for us. We beat Braze, growing 26% year-over-year.

We had a record free cash flow quarter in the quarter as well. Operating income guidance, we moved up our operating income margin percent on the year up another 30 basis points, and pacing to a great full year result there as well. We had consistent bookings actually around the world for the first time in recent memory, which is great to see. We have been investing a lot in our go-to-market leadership organization since bringing on a new CRO last summer, and it has been great to see. We are a little bit over a year from him joining, and just got a strong sales leadership bench around the world, and we are seeing consistent results from that as well. So, a great quarter all around, and we are really excited about the back half of the year. We have got our customer conference coming up in just about two weeks.

It is called Forge, out in Las Vegas. It is going to be bigger and better than ever. We are going to talk about some of the AI roadmap as well, and I will be able to give you a bit of a preview of what is coming at Forge, but I will also probably drop more to come a few times in this chat. It has been an exciting year, so excited to dig into it.

Yeah. So high level, we are in a golden era, I think, right now in Braze product. Our product delivery velocity is moving faster than ever. We are in an incredible position as we have accelerated our own AI roadmap, and Braze already has proven scale. We have got the reliability, security, stability, performance at massive scale. I just mentioned some of those numbers before, and what that has meant for us over the last couple of years is that a lot of the really difficult distributed systems and scaling problems and all that, to be able to have smart pipes, to be able to drive a lot of this agentic orchestration acceleration through, was already there for us. We have been able running actually all the way back in 2011, about 15 years ago.

I took over the CEO seat about 10 years ago, and my technical co-founder, Jon Hyman, is still Braze's CTO today. Our SVP of engineering and our head of AI products have both been with the company more than 14 years. When I look at, I always chuckle a little bit when I read the founder mode articles and what have you, because we still have both of our technical co-founders and our most kind of tenured product and engineering leadership that have been around since the beginning. We went through and we were born in this last phase of disruption around the rise of mobile. Now, as we look at this wave of disruption from the rise of modern agentic AI, we are doing so with a founder mode team.

It has just been really exciting and awesome to be right at the frontier of change with us being able to leverage underlying science that is moving so rapidly, both in the LLM space as well as on the reinforcement learning side. To be able to combine that with a system that we have laboriously and lovingly scaled over the course of the last 15 years. Now, when you look at Braze's ability to just deliver customer engagement through smart self-optimizing pipes to our enterprise customer base, then be able to kind of build on top of that for much more advanced orchestration and personalization than was even possible before. We are able to deliver that combined solution, and it is moving faster than ever.