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Item 1. Business

2026-03-25 compared with 2025-03-31 · 135 added, 113 removed, 310 unchanged (44% of the section changed)

Our mission is to forge human connections between consumers and the brands they love through absolutely engaging experiences.

To forge vibrant connections between people and the brands they love, fueled by a community that inspires and technology that lights the way.

Braze is a leading customer engagement platform that empowers brands to Be Absolutely Engaging.

Customer Engagement is an emerging category of business activity and software which we define as the full set of activities that companies use to build and maintain direct, meaningful relationships with their customers.

Our platform empowers brands to listen to their customers better, understand them more deeply, and act on that understanding in a way that is human and personal.

Our platform brings together rich, first-party context, transforms that context with composable intelligence (models, agents, and operators), and delivers continuous, and personally relevant interactions across channels.

As of January 2026, 2,609 customers around the world trusted Braze to power their cross-channel customer engagement strategies.

In January 2026, our platform enabled interactions with 8.0 billion monthly active users via our customers’ apps, websites, and other digital interfaces, up from 7.2 billion in January 2025.

Over the last decade, as individuals and as consumers, our bond with technology has strengthened immensely.

We have welcomed more and more digital services and products into our lives and integrated them into nearly every activity we take part in.

Braze was founded in 2011 in response to the step change in human history ushered in by the "smartphone", where we began to become significantly more connected to each other and to the products and services that brands compete to sell to us.

Today, consumers interact with many brands across a myriad of digital and physical touchpoints.

The first-party data generated from digital experiences and the increased number of consumer touchpoints have provided brands with new opportunities to reach customers and personalize brand experiences, but it has also increased consumer expectations for highly relevant, personalized, and seamless cross-channel interactions.

These trends have put competitive pressure on brands and led even traditional enterprises to increase their focus and investment on customer experience.

Brands have evolved to create engagement opportunities with customers through the use of customer engagement software, increasing the use of first-party data and making those first-party relationships actionable in a way that helps differentiate them from their competition or transform their businesses, while forming lasting customer relationships that can increase brand loyalty and customer value over time.

Our bond with technology has strengthened immensely over the past decade as we welcomed connected devices, digital services, and, most recently, artificial intelligence, or AI, into nearly every part of our lives.

Braze was founded in 2011 in response to the step change in human history ushered in by the smartphone, when we became significantly more connected to each other and to the products and services that brands compete to sell to us.

Today, we interact with many brands across a myriad of digital and physical touchpoints.

The first-party data generated from the increase in digital touchpoints in particular has provided brands with new opportunities to reach customers with the right message at the right time, but it has also increased consumer expectations for brands to understand and anticipate their needs regardless of where they interact.

The ongoing platform shift to AI has further elevated expectations for a personalized experience and creates new opportunities for brands to connect with their customers.

These trends have put competitive pressure on brands to increase their focus and investment on customer experience.

Successful brands now use customer engagement software that leverages first-party data to make customer relationships actionable while differentiating them from their competition and ultimately transforming their businesses.

The end results are more lasting customer relationships that increase brand loyalty and customer value over time.

We view our own role as steward of a brand's first party relationships, achieved through the sophisticated management of their first-party data, as well as the orchestration and delivery of critical components of their marketing and product experience across an increasingly non-linear and digital customer journey.

Most cross-channel marketing automation platforms available today approach customer engagement on a channel-by-channel basis, which creates data and engagement silos that result in disjointed customer experiences and diminishes customer loyalty.

Most cross-channel marketing automation platforms available today approach customer engagement on a channel-by-channel or campaign-by-campaign basis, which creates data and engagement silos that result in disjointed customer experiences and diminishes customer loyalty.

We built Braze to facilitate the craft of customer engagement—a pursuit that is distinct from merely the activity of sending marketing messages.

The craft of customer engagement brings together diverse skillsets, bold creativity, the sophisticated use of data, and an agile, experimental approach to the strategy that unlocks value in more of the moments that matter for customers as they move through their journey with a brand.

The craft of customer engagement brings together diverse skillsets, bold creativity, the sophisticated use of AI, data, and an agile, experimental approach to the strategy that unlocks value in more of

the moments that matter for customers as they move through their journey with a brand.

In addition to avoiding siloed channels and data, our platform empowers real-time engagement between brands and their customers.

The real-time nature of the interactions we enable is crucial, and is made possible by our proprietary, enterprise-

grade stream processing architecture.

This architecture receives, contextualizes, and responds to first-party customer data in the moment.

We have designed it to listen like a human would, process new information in context, and react instantaneously, enabling marketers to run engagement campaigns and messaging that feel relevant and personal.

Braze also unleashes the power of interdisciplinary teams by serving numerous stakeholders beyond traditional marketers, including product and engineering teams, business intelligence, and data engineering teams.

The real-time nature of the interactions we enable is crucial, and is made possible by our proprietary, enterprise-grade stream processing architecture.

This architecture underpins the Braze Data Platform which receives, contextualizes, and responds to first-party customer data in the moment.

Braze also unleashes the power of interdisciplinary teams by serving numerous stakeholders beyond traditional marketers and creative teams, including product and engineering teams, business intelligence, data science, and data engineering teams.

Our platform produces valuable data that informs decisions and actions across customer engagement strategies.

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A key aspect of Braze's differentiation is that we offer a platform, not a point solution, that gives brands an end-to-end solution for achieving their customer engagement goals, not just a tool to send messages.

We vertically integrate our data activation, insights and segmentation, orchestration, personalization and relevance capabilities and also leverage artificial intelligence (“AI”) investments across each layer of the stack, so coordinating between them is simple and fast.

Meanwhile, we abstract away the particulars of disparate data sources and the vagaries of the many messaging channels we support, so that when marketers implement their customer engagement strategies in Braze, they can maintain a customer-centric mindset – focused on the intersection of the goals of their brand with the needs of the consumer, not the complexity of data integrations or siloed message channels.

This also provides consistency across Braze's insights and segmentation, orchestration, and relevance feature set, making it easier for our customers to expand across channels, and allowing our research and development investments into areas like predictive intelligence or Braze's Canvas visual development environment to deliver broad impact quickly and efficiently.

We vertically integrate our data activation, insights and segmentation, orchestration, personalization and relevance capabilities and also leverage AI investments across each layer of the stack, so coordinating between them is simple and fast.

Meanwhile, we abstract away the particulars of disparate data sources through our Braze Data Platform and the vagaries of the many messaging channels we support, so that when marketers implement their customer engagement strategies in Braze, they can maintain a customer-centric mindset – focused on the intersection of the goals of their brand with the needs of the consumer, not the complexity of data integrations or siloed message channels.

This also provides consistency across Braze's insights and segmentation, orchestration, and relevance feature set, making it easier for our customers to expand across channels, and allowing our research and development investments into areas like BrazeAI Decisioning Studio and BrazeAI Agent Console or Braze's Canvas visual development environment to deliver broad impact quickly and efficiently.

This product architecture supports differentiated use of AI and machine learning through its comprehensive access to first party-data, and an ability to directly take action to guide the customer journey.

When deployed by our customers, our platform is typically leveraged across consumer touchpoints and sources of first-party data, including integration of the Braze software development kits, or SDKs, into end-user applications and websites, and the configuration of automated connections into customer data warehouses or data platforms via the Braze Data Platform.

When deployed by our customers, our platform is typically leveraged across consumer touchpoints and sources of first-party data, including integration of the Braze software development kits, or SDKs, into end-user applications, ChatGPT applications, foundational LLM models through the Model Context Protocol (MCP), websites, and the configuration of automated connections into customer data warehouses or data platforms via the Braze Data Platform.

This enables more advanced experimentation and automated decision making and also creates the opportunity to personalize and optimize customer journeys at scale.

With BrazeAI, marketers can improve outcomes for both consumers and brands by creating experiences with relevant content, journeys, and offers tailored to each individual.

Our platform also has the promise to improve operational efficiency for the teams that use Braze – as we continue to expand our product surface area and enhance its capabilities by infusing AI, we can help brands create personalized, cross-channel solutions faster, and compound their learnings through automated experimentation and data analysis, ultimately increasing their return on investment over time.

Our platform also has the promise to improve operational efficiency for the teams that use Braze – as we continue to expand our product surface area and enhance its capabilities by infusing AI, we can help brands create personalized, cross-channel solutions faster with BrazeAI Operator, and compound their learnings through automated experimentation and data analysis, ultimately increasing their return on investment over time.

Within the orchestration layer, we enable marketers to easily design, visualize, and launch customer journeys utilizing Canvas, our proprietary, no-code journey orchestration tool.

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mobile messaging such as SMS, MMS, and RCS messages, WhatsApp and LINE messaging, and webhooks;

as well as in-product and web experiences such as in-app messages (including in-product messaging to apps on connected TV and gaming platforms), in-browser messages, surveys, mobile and web push notifications, Braze Content Cards – which are flexible, content-rich messages embedded in a mobile app or web browsers, Landing Pages – which are standalone web pages with a single call-to-action often used for audience acquisition and conversion, and Feature Flags – which allow our customers to remotely enable or disable mobile or web experiences for different audiences.

Finally, Braze Audience Sync also unifies owned and paid channel strategies across platforms such as Meta, Google, TikTok, Pinterest, Snapchat, and Criteo.

Landing Pages– which are standalone web pages with a single call-to-action often used for audience acquisition and conversion, and Feature Flags– which allow our customers to remotely enable or disable mobile or web experiences for different audiences.

Finally, Braze Audience Sync also unifies owned and paid channel strategies across platforms such as Meta, Google, TikTok, Pinterest, Snapchat, LinkedIn, The Trade Desk, and Criteo.

The flexibility of our platform also allows us to add new channels quickly and efficiently as they become relevant to our customers.

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Our Competitive Strengths

Composable Intelligence Embedded Throughout the Platform

The Braze Customer Engagement Platform is an end-to-end solution with AI integrated across every layer.

With Braze at the center of their engagement architecture, marketers can graduate from stitching together point solutions and legacy bolt-ons, and start delivering personalized, measurable experiences from one platform.

BrazeAI equips marketers with intelligent models, agents, and operators that empower them to deliver smarter, faster, and more relevant engagement at scale.

By enabling customers to create their own AI agents to enhance their data workloads and customer journeys, and leverage AI decisioning models designed for maximum performance uplift in their most valuable use cases, Braze gives marketers the flexibility to orchestrate personalized, high-impact experiences through composable intelligence.

BrazeAI, including BrazeAI Decisioning Studio, BrazeAI Operator, and BrazeAI Agent Console, puts intelligent agents to work, enabling marketers to personalize every customer interaction, generate and build seamlessly, and unlock new levels of creativity to drive measurable business results.

Data Streaming Architecture Processes First-Party Data in Real Time

The scalable, real-time capabilities of Braze's classification, orchestration, and relevance optimization systems are made possible by our proprietary, enterprise-grade stream processing architecture.

This architecture receives, contextualizes and reacts to first-party customer data in the moment.

Our platform allows for high-volume, continuous streaming of user data to be processed in real time, providing a live understanding of the many interactions that consumers are having with a brand.

Unlike batch processing, which is easier to scale, but held back by its architecture, our event-driven stream processor contextualizes and understands each unit of data as it is created.

We not only process data but also create analytical data.

When a consumer interacts with any messaging channel that Braze delivers, or any of the brand’s digital products or services that have been integrated with an embedded Braze SDK, that consumer generates data that is processed and contextualized with existing user data models in real time.

This allows marketers to better understand consumer behavior and associate specific content or messaging with in-product engagement, providing further context that can be leveraged for deeper engagement.

Our stream processing architecture and access to first-party data also supports differentiated use of AI and machine learning, which can improve consumer outcomes and, in turn, increase the return on investment our platform provides to our customers.

Cross-Channel Approach, Enabling Customer-Centric Experiences

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Our architecture ensures that our capabilities can be used across all of our channels, maximizing the impact of new feature development.

This is particularly valuable for the investments we have and will continue to make in artificial intelligence and machine learning features, such as predictive audience targeting, AI copywriting assistance, and automatic multivariate testing and optimization, which are designed to reduce the amount of manual time that marketers dedicate to building and executing customer engagement campaigns, thereby improving overall results without additional effort.

Additionally, when we add new channels, they immediately benefit from all of the existing functionality that we have already built, which makes them fully featured and robust from the outset.

This is particularly valuable for the investments we have and will continue to make in AI and machine learning features, such as predictive audience targeting, AI in-product assistant, and automatic multivariate testing and optimization, which are designed to improve performance and reduce the amount of manual time that marketers dedicate to building and executing customer engagement campaigns, thereby improving overall results without additional effort.

Additionally, when we add new channels, they immediately benefit from all of the existing functionality that we have already

built, which makes them fully featured and robust from the outset.

This means that these new channels can compete against existing point solutions at launch and reach scale more quickly.

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This is accomplished without sacrificing the unique qualities and capabilities associated with each individual channel that we support.

Data Streaming Architecture Processes First-Party Data in Real Time

The real-time nature of the interactions we enable is made possible by our proprietary, enterprise-grade stream processing architecture.

This architecture receives, contextualizes and reacts to first-party customer data in the moment.

Our platform allows for high-volume, continuous streaming of user data to be processed in real time, providing a live understanding of the many interactions that consumers are having with a brand.

Unlike batch processing, where data is processed only when a specific time or threshold is hit, our data streaming architecture processes each unit of data as it is created.

Real-time data processing enhances messaging relevance, in contrast to batch processing, where delayed data processing often leads to irrelevant messages and frustrated consumers.

We not only process data but also create analytical data.

Global, High Performance at Scale

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For brands that take a collaborative approach, marketing teams work hand-in-hand with data, product and engineering teams to optimize customer engagement.

For example, our Feature Flags product is designed to support product and growth teams to easily deliver personalized experiences allowing brands to launch features faster, tailor functionality to different audiences, and coordinate feature releases with cross-channel messages.

For example, our BrazeAI Operator product is designed to support brand and creative teams to easily manage reusable brand guidelines as part of content generated using Operator.

Agent Console’s composability to bring your own API keys allows engineering and AI teams to partner with marketing on governance and controls for LLM models.

Our platform’s ease of use and seamless integration into existing technologies, coupled with the high value data and insights that it generates, enables brands to develop and run campaigns that meet their strategic goals quickly and efficiently.

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When designing campaigns, marketers use our composition tools to bring new creative ideas to life across all appropriate channels and platforms.

They can also leverage the strategic and creative insights of our Customer Success and Strategic Consulting teams, or find inspiration through engaging with our Braze Bonfire customer community as they brainstorm new approaches.

They can also leverage the strategic and creative insights of our Customer Experience teams along with our growing Braze Alloys Partner Network, or find inspiration through engaging with our Braze Bonfire customer community as they brainstorm new approaches.

When it comes time for execution, marketers and product engineers use Braze to orchestrate personalized experiences and directly embed them into their products.

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For instance, with Braze Cloud Data Ingestion, our customers can set up a direct connection between their data warehouses or platforms and Braze to automatically sync relevant user attributes, events, and purchases.

Once synced to Braze through Cloud Data Ingestion, this data can be imported into any layer of our platform and can be leveraged for a number use cases.

Once synced to Braze through Cloud Data Ingestion, this data can be imported into any layer of our platform and

can be leveraged for a number use cases.

Customers can also use Braze Currents to stream data in real time back into those systems, which increases the return on our customers’ other technology investments.

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When brands partner with us, they get access to strategic and technical advice from our experts and from a community of like-minded, forward-thinking marketers and product leaders.

We provide a number of resources to help brands design effective marketing strategies and use our platform to its maximum capability, including customer success and technical support teams, a comprehensive documentation library, and interactive online learning paths and certifications, including certifications for Braze Certified Practitioners, Braze Certified

Marketers, Braze Certified Digital Strategists, or Braze Certified Developers.

Braze Bonfire, our virtual, global customer community, includes thousands of individuals across a wide spectrum of industries, business sizes, and roles.

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• Acquire new customers:

We intend to continue to expand our customer base in verticals where we already have a strong presence — such as retail and consumer goods, media and entertainment, telecommunications, restaurants and on-demand services, healthcare and life sciences, technology, manufacturing, education, government and public services, and financial services — and to increase our presence in verticals where we are not yet strongly represented.

We intend to continue to expand our customer base in verticals where we already have a strong presence — such as retail and consumer goods, media and entertainment, gaming, sports, restaurants and on-demand services, healthcare and life sciences, technology, and financial services — and to increase our presence in verticals where we are not yet strongly represented.

Through our sales and marketing efforts, we also plan to capitalize on industries and verticals subject to ongoing digital transformation and where direct-to-consumer relationships are accelerating to further propel adoption of our technology.

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We believe we can achieve significant growth by expanding sales within our existing customer base.

We expand the use of our platform with existing customers by, among others, adding new channels and increasing the messaging volume we sell to our customers as their businesses and needs continue to grow and as they connect directly with additional consumers, which in turn leads to a need for greater messaging capacity.

We expand the use of our platform with existing customers by, among others, adding new channels and increasing the consumption of flexible credits for messaging, and other actions, such as agent invocations in Agent Console, as their businesses and needs continue to grow and as they connect directly with additional consumers, which in turn leads to a need for greater messaging capacity.

The addition of new channels that benefit from our orchestration engine and real-time streaming platform may also further differentiate our product, helping to sustain or increase win-rates.

We also anticipate that as more customers reach higher levels of digital sophistication, they will invest in additional data streaming and data management capabilities.

We also anticipate that as more customers reach higher levels of digital sophistication, they will invest in additional decisioning, agentic, data streaming and data management capabilities.

We see an opportunity within our customers’ organizations to create new use cases for our platform as they broaden the use of our platform beyond the traditional marketing team, as marketers become more technically savvy, as technologists work more closely with marketing teams, and as data scientists become more influential within their organizations.

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For instance, we have operational footprints across North America, South America, Europe, the Asia-Pacific region, and the Middle East.

We expect to continue increasing our market penetration in these regions, while further capitalizing on the greenfield opportunities in regions such as Latin America.

We have expanded the global footprint of our infrastructure to offer hosting for Braze in the United States, the European Union, Australia, Japan, and Indonesia.

• Expand our technology leadership through continued investment and new products:

We are focused on investing in research and development to continue to enhance our platform.

For example, we continue to develop our artificial intelligence capabilities to enable brands to better analyze and act on customer data.

For example, we continue to develop our AI capabilities to enable brands to better analyze and act on customer data.

We believe our market-driven product development approach maximizes the return on new feature development and channel expansion.

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We have also invested in, and continued to expand, our relationships with the ecosystem of solution partners, marketing agencies, consultancies, and global system integrators that offer opportunities for new customer referrals.

We offer a single, vertically integrated platform that encompasses the major functionalities, or layers, required for modern customer engagement:

data activation, insights and segmentation, orchestration, relevance, and cross-channel action, all of which is supported by BrazeAI, our AI engine designed to power AI functionality across all layers of this technology stack.

We offer a comprehensive platform of leading edge data, AI, and interaction capabilities built for marketers and their AI agents to deliver on the promise of creative and sophisticated Customer Engagement that drives growth for their businesses.

Our differentiation is enhanced by our vertically integrated agentic development environment, high-scale orchestration system, and streaming data infrastructure.

The resulting platform is what powers modern customer engagement through AI, data activation, segmentation, orchestration, reporting and insights, creative production relevance optimization, and cross-channel interaction.

BrazeAI functions, across all layers of this technology stack to drive efficiency and performance for our customers.

Braze delivers a range of BrazeAI features across all layers of its vertically-integrated technology stack to enable brands to create, personalize, and optimize their customer engagement efforts.

Specific features that leverage BrazeAI are noted below within the applicable layer of the technology stack.

Data Activation

While BrazeAI is found throughout the platform, we provide specific features such as:

• BrazeAI Decisioning Studio :

Decisioning Studio is a multi-agent decisioning engine that personalizes every aspect of communication, including channel, message content, creative, offer, timing and frequency, and that uses reinforcement learning to continuously optimize for business goals and outcomes.

• Agent Console :

Agent Console is a marketer-facing environment to build, compose and deploy custom AI agents for tasks such as localization, lead scoring and content generation.

The console supports major foundation models, like Google Gemini, Anthropic, and OpenAI, and encourages composability through cross-integration of AI features and the Braze Data Platform, as well as the embedding of agentic reasoning and content creation capabilities into the Canvas environment.

Operator is a LLM-powered assistant that allows marketers to get strategic guidance and speed up routine work.

Operator can take actions with the Braze dashboard using its expertise to produce better outcomes, faster.

• Liquid Assistant and AI Copywriter:

The BrazeAI Liquid Assistant makes it easy for marketers to generate Liquid from templates, receive personalized Liquid suggestions, and optimize existing Liquid using natural language prompting.

The assistant also provides annotations explaining the Liquid used, so marketers can further develop their skills and understanding of Liquid.

• Personalized Variant:

Our platform can send each user the campaign variant they are most likely to engage with based on an analysis of how users with similar profiles responded to each variant in an initial A/B test.

• BrazeAI Item Recommendations:

Customers can calculate what is likely to be the most popular item or product or create personalized AI recommendations from a specific catalog which can then be inserted into messages.

• BrazeAI Predictive Suite:

BrazeAI Predictive Suite allows customers to identify groups of consumers that are of critical business value such as “consumers who are likely to churn.” Our platform uses machine learning to automatically identify consumers who have a propensity to behave similarly to the identified audience, allowing customers to preemptively engage these consumers and thereby encourage or discourage their predicted behaviors.

• MCP Server:

MCP, is a standard that lets AI agents connect to and work with data from another platform.

It has two main parts:

(1) MCP client:

The application where the AI agent runs, such as Cursor or Anthropic’s Claude, and (2) MCP server:

A service provided by another platform, like Braze, that defines which tools the AI can use and what data it can access.

Once configured, the MCP Server acts as a bridge between AI tools, such as Anthropic’s Claude, and a customer’s Braze account, giving them conversational access to campaigns, canvases, segments, custom attributes, and more.

Braze Data Platform

The Braze Data Platform is a comprehensive, composable set of Braze capabilities and partner integrations designed to help marketers leverage data to deliver more impactful, scalable customer experiences powered by Braze.

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SDKs are software libraries that reside within our customers’ applications or websites, automatically managing data ingestion and the delivery of mobile and web notifications, in-application / in-browser interstitial messages, and Braze Content Cards.

Our SDKs can be integrated into a wide variety of digital interfaces including iOS, Android, Desktop / Mobile Web, connected TVs, the Unity and Unreal game engines, and application development frameworks such as React Native and Cordova.

Our SDKs can be integrated into a wide variety of digital interfaces including iOS, Android, Desktop / Mobile Web, connected TVs, the Unity game engines, AI, including ChatGPT, applications, and application development frameworks such as React Native and Cordova.

By embedding new messaging capabilities directly in our SDKs, we can rapidly deploy new functionality to our customers, with little to no additional effort on their part.

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• Partner Data Integrations:

Brands can sync user cohorts from partners such as Amplitude, Tealium, or Mixpanel to our platform.

Brands can sync user cohorts from partners such as Amplitude or Mixpanel to our platform.

They can then use membership in these user cohorts as additional criteria in the Braze Classification layer.

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Cloud Data Ingestion removes the need to maintain complex data pipelines and empowers brands with direct data access, without ongoing reliance on technical teams.

Insights and Segmentation

• Braze Currents:

All data sent to and generated by our platform can be continuously exported to a range of partner systems.

These systems include data storage partners such as Microsoft Azure, Amazon Web Services, and Google Cloud;

Customer data platforms such as Segment, mParticle and Tealium;

and analytics providers such as Amplitude and Mixpanel.

Braze Currents can also export data to generic web endpoints for maximum flexibility.

Customers can use these integrations to leverage their Braze data elsewhere within their technology ecosystem, thereby enabling tighter collaboration between marketing/growth teams and their partners in business intelligence or engineering.

• Snowflake Data Sharing:

Alongside Braze Currents, data tracked and stored within our platform can also be accessed directly via our partnership with Snowflake using Snowflake’s Data Sharing mechanism.

• Segmentation:

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Additionally, customers can use this tool to understand the factors that determine which consumers belong to a particular segment.

• BrazeAI Predictive Suite:

Orchestration

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Customers can create sophisticated and targeted campaigns designed to appropriately target the individual consumer.

Customers can use our platform to automatically run a multi-armed bandit optimization, and to send each user the campaign variant they are most likely to engage based on A/B testing.

Once the appropriate campaign has been identified, our customers can then limit the number of messages sent from the platform by capping the frequency of message type (e.g., no more than three push notifications per week or no more than one promotional email per day), or by limiting the speed at which our platform sends messages (e.g., no more than 10,000 messages per minute).

Across their many campaigns and customer engagement programs, customers can use quick-to-deploy features inside of Canvas to test new strategies or perform A/B testing and multi-armed bandit optimization across a variety of dimensions, including delivery frequency and channel selection.

For their most important use cases, Braze customers can also leverage advanced machine learning through our Decisioning Studio, where an autonomous agentic decision maker presides over a collection of AI-driven contextual bandits who are equipped to make optimization decisions across many dimensions at once, improving performance over time.

Reporting and Analytics

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Customers can analyze the retention uplift caused by a messaging strategy, or create and analyze funnels of actions that were taken by consumers after receiving a message.

◦ BrazeAI Predictive Suite:

The Braze Predictive Suite enables brands to use machine learning to determine what customers are likely to purchase and/or churn without any engineering resources.

Predictive Churn and Predictive Purchases are customizable, on-demand predictive models brands can create in minutes to effectively leverage and act on data seamlessly within the Braze platform.

• Report Builder:

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Lifetime value of this holdout group can be easily compared against that of consumers who received the full suite of Braze engagement.

• Liquid Templating and BrazeAI Liquid Assistant:

Customers can personalize messages using the Liquid Templating language to inject personalized content into their messages.

Our platform allows customers to flexibly utilize a wide variety of data in this templating process, including data ingested and stored on consumer profiles, from Catalogs, as well as contextual data, such as properties of a consumer action that triggered a message flow.

Personalization options include use cases such as listing a set of consumer-specific recommendations or creating sophisticated if/else logic inside of a message to conditionally determine what content to deliver.

The BrazeAI Liquid Assistant makes it easy for marketers to generate Liquid from templates, receive personalized Liquid suggestions, and optimize existing Liquid using natural language prompting.

The assistant also provides annotations explaining the Liquid used, so marketers can further develop their skills and understanding of Liquid.

• Connected Content:

Customers can connect to remote servers (including both third-party partners and first-party customer-owned endpoints) and pull back data for advanced personalization use cases.

For example, customers can

personalize messages on a one-to-one basis by connecting to a recommendation engine or modify messages to a user based upon the current weather at the user’s location.

• Content Management:

Customers can upload, store and reuse various types of content across messages.

Braze offers both pre-built and customer-generated templates, a media asset library, a preference center builder and Content Blocks.

Content Blocks enable customers to create reusable, cross-channel content (including Liquid Templating content).

Templates, Content Blocks and a customer’s preference center can also be updated and managed via API, extending their functionality and connecting them to customer data sources dynamically.

Customers can also utilize our generative AI functions to support the development of new content or images, and use our approval workflows to provide additional oversight of how and when content is used in campaigns.

Creativity and Relevance

• BrazeAI Content Generation and Quality Assurance :

As part of the overall composable intelligence framework, we see the following features helping not only the marketer, but also their agents to leverage these capabilities.

The configurations and guidelines that marketers set for AI-generated content become the foundation for agents to build their context and skills to deliver on the promise of creative and sophisticated Customer Engagement.

◦ AI Copywriting Assistant :

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Content QA using BrazeAI performs checks on the content of a message, confirming that it adheres to quality standards by identifying ineffective elements such as spelling errors, grammar issues, inappropriate tone, and offensive language.

• Intelligent Timing and Channel:

Our platform will automatically calculate when consumers are most likely to engage with a particular messaging channel, and can send messages to consumers at the time that is optimal for them based upon their behavior patterns for a particular channel.

• Personalized Variant:

Our platform can send each user the campaign variant they are most likely to engage with based on an analysis of how users with similar profiles responded to each variant in an initial A/B test.

• BrazeAI Item Recommendations:

Customers can calculate what is likely to be the most popular item or product or create personalized AI recommendations from a specific catalog which can then be inserted into messages.

• Content Management:

Customers can upload, store and reuse various types of content across messages.

Braze offers both pre-built and customer-generated templates, a media asset library, a preference center builder and Content Blocks.

Operator lets marketers start from scratch to generate their first email or agent using just a prompt or to build on existing content, brand guidelines, agents, and Canvases as context for creating new content.

Content Blocks enable customers to create reusable, cross-channel content (including Liquid Templating content).

Templates, Content Blocks and a customer’s preference center can also be updated and managed via API, extending their functionality and connecting them to customer data sources dynamically.

Customers can store relational or tabular data with Braze that can be used for segmentation, event triggering, and message personalization.

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For example, Catalog data can be combined with our Braze segmentation to identify high-value cohorts of customers, such as users who recently viewed products that are now discounted.

Catalogs can also be used for basic product recommendation use cases.

Catalogs can also be used for product recommendation use cases.

Agent Console integrates with Catalogs to bring the power of LLMs to Catalogs, supporting use cases like copy-writing, translation, summarization, and scoring.

• Templating Language:

Customers can personalize messages using the Liquid Templating language to inject personalized content into their messages.

• Connected Content:

Customers can connect to remote servers (including both third-party partners and first-party customer-owned endpoints) and pull back data for advanced personalization use cases.

For example, customers can personalize messages on a one-to-one basis by connecting to a recommendation engine or modify messages to a user based upon the current weather at the user’s location.

• Intelligent Timing and Channel:

Cross-Channel Action

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These in-experience messages can be built from templates using our drag and drop editor or built from scratch with nearly infinite customizability.

◦ Braze Content Cards:

In addition to ephemeral messages, we offer Braze Content Cards, a proprietary product where a personalized feed of user-controllable content is embedded directly into applications and browsers for persistent viewing.

◦ Braze Content Cards and Banners:

In addition to ephemeral messages, we offer Braze Content Cards and Banners, a proprietary product where a personalized feed of user-controllable content is embedded directly into applications and browsers for persistent viewing.

◦ Feature Flags:

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Our platform provides robust push notification messaging capabilities across both mobile and web.

In addition to supporting push notifications on all major platforms, we have released advanced functionality such as Push Stories (paginated image carousels within notifications) and iOS Live Activities (persistent, interactive notifications displayed directly on users’ lock screens), to increase the power and flexibility of the channel.

In addition to supporting push notifications on all major platforms, we have released advanced

functionality such as Push Stories (paginated image carousels within notifications) and iOS Live Activities (persistent, interactive notifications displayed directly on users’ lock screens), to increase the power and flexibility of the channel.

Our platform provides a full suite of email engagement technology, including email template editing and management with a drag and drop editor, link tracking and heatmap analytics, email preference centers, and seed lists.

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◦ Ad Network Integrations:

Using Braze Audience Sync with Meta, Google, TikTok, Snapchat, Pinterest, or Criteo, brands can sync first-party data from Braze to each respective advertising platform to deliver more relevant advertisements outside the Braze platform based upon behavioral triggers, segmentation and more.

Using Braze Audience Sync with Meta, Google, TikTok, Snapchat, Pinterest, Linkedin, The Trade Desk, or Criteo, brands can sync first-party data from Braze to each respective advertising platform to deliver more relevant advertisements outside the Braze platform based upon behavioral triggers, segmentation and more.

◦ WhatsApp Integration:

Our platform is directly integrated with the WhatsApp Cloud API, making it easy to natively compose and orchestrate two-way messages as part of cross-channel campaigns in Braze.

Our platform is directly integrated with WhatsApp, making it easy to natively compose and orchestrate two-way messages as part of cross-channel campaigns in Braze.

◦ LINE Integration :

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We offer an optional premium service with even higher speed and reliability guarantees for critical use cases.

• Braze Currents:

All data sent to and generated by our platform can be continuously exported to a range of partner systems.

These systems include data storage partners such as Microsoft Azure, Amazon Web Services, and Google Cloud;

Customer Data Platforms such as Segment, mParticle and Tealium;

and analytics providers such as Amplitude and Mixpanel.

Braze Currents can also export data to generic web endpoints for maximum flexibility.

• Snowflake Data Sharing:

Alongside Braze Currents, data tracked and stored within our platform can also be accessed directly via our partnership with Snowflake using Snowflake’s Data Sharing mechanism.

In addition, we provide several features for general management of our platform designed to allow customers of all

sizes to maximize their efficiency:

• Operations and Administration:

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We provide a complete set of Role-Based Access Controls to allow large global teams to manage our platform effectively.

In addition to these Role-Based Access Control mechanisms, we offer Braze

Teams, which allows customers to break their consumer base into segments based on the consumer’s country, language, or a custom attribute.

In addition to these Role-Based Access Control mechanisms, we offer Braze Teams, which allows customers to break their consumer base into segments based on the consumer’s country, language, or a custom attribute.

With Braze Teams, customers can create groups to manage individual regions or subsets of their businesses while restricting the ability of specified users to view or manage data outside of their assigned region.

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There are several established and emerging competitors that address specific aspects of customer engagement, but we believe that none of our competitors currently offer comparable comprehensive customer engagement solutions.

We face competition from software companies that offer marketing solutions, such as legacy marketing clouds like Adobe and Salesforce, and point solutions like Airship, Iterable, Klaviyo, CleverTap and MoEngage.

We face competition from software companies that offer marketing solutions, such as Adobe, Salesforce, Iterable, and Klaviyo.

Many of our existing competitors have, and our potential competitors could have, substantial competitive advantages, such as greater name recognition, longer operating histories, larger sales and marketing budgets and resources, greater customer support resources, lower labor and development costs, larger and more mature intellectual property portfolios and substantially greater financial, technical and other resources than we do.

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For example, competitors willing to sell customer data in markets where such activity is permissible may have a pricing advantage over us in such markets.

Additionally, to the extent there is a sustained general economic downturn, our customers and potential customers may experience delays and reductions in general customer engagement technology spending.

Additionally, to the extent there is sustained economic volatility, our customers and potential customers may experience delays and reductions in general customer engagement technology spending.

As a result, our competitors may respond to market conditions by lowering prices or making other contractual concessions in an attempt to lure away our current and potential customers.

With the introduction of new technologies and the entry of new competitors into the market, we expect competition to persist and intensify in the future.

Recently, there has also been significant merger and acquisition activity in the technology industry, including among our competitors.

There has also been significant merger and acquisition activity in the technology industry, including among our competitors.

These consolidation trends could increase the likelihood that we compete with other large technology companies.

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Sales and Marketing

We sell subscriptions to our platform primarily through a direct sales force with primary operations in North America, Europe, and the Asia-Pacific region.

We sell subscriptions to our platform primarily through a direct sales force with primary operations in North America, South America, Europe, the Middle East, and the Asia-Pacific region.

Our team of account executives is responsible for selling to new customers as well as existing customers who may renew their subscriptions, increase the usage of our platform over time and expand the deployment of our platform across their organizations.

In addition, we sell our platform through our joint venture in Japan, as well as through resellers in South Korea and Latin America.

In addition, we sell our platform through our joint venture in Japan, as well as through resellers in certain strategic markets.

Our marketing activities are designed to build broad brand awareness, generate thought leadership and create demand and leads for our sales organizations within our target markets.

Our marketing programs target influencers and decision makers participating in the buying cycle, including the Chief Digital Officer, Chief Marketing Officer, Chief Product Officer, Chief

Technology Officer, and other key functional marketing and technology heads.

Our marketing programs target influencers and decision makers participating in the buying cycle, including the Chief Digital Officer, Chief Marketing Officer, Chief Product Officer, Chief Technology Officer, and other key functional marketing and technology heads.

Additionally, we conduct marketing programs to engage with our customers to promote upsell and cross-sell opportunities, and we engage with industry analysts, consulting firms, marketing service providers, data and technology partners, marketing agencies and other platform partners, business and trade press and other industry experts who exert considerable influence in our market.

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patent applications, if issued, would be scheduled to expire at various times between 2044 and 2045.

As of January 31, 2025, we owned six registered trademarks in the United States and 48 registered trademarks in various non-U.S.

As of January 31, 2026, we owned 11 registered trademarks in the United States and 93 registered trademarks in various non-U.S.

jurisdictions.

Although we rely on intellectual property rights, including patents, copyrights, trademarks and trade secrets, as well as contractual protections to establish and protect our proprietary rights, we believe that factors such as the technological and creative skills of our personnel, creation of new services, features and functionality, and frequent enhancements to our platform are more essential to establishing and maintaining our technology leadership position.

creative skills of our personnel, creation of new services, features and functionality, and frequent enhancements to our platform are more essential to establishing and maintaining our technology leadership position.

We control access to and use of our proprietary technology and other confidential information through the use of internal and external controls, including contractual protections with employees, contractors, customers and partners.

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Further, U.S.

federal and state

consumer protection laws may require us to publish statements that accurately and fairly describe how we handle personal data and rights individuals may have about the way we handle their personal data.

federal and state consumer protection laws may require us to publish statements that accurately and fairly describe how we handle personal data and rights individuals may have about the way we handle their personal data.

European data privacy and security laws (including the EU GDPR and U.K.

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Braze supports a global and inclusive culture focused on creating a sense of belonging in the Braze community that empowers each individual to contribute to our culture and our success.

At its foundation, the company aims to grow and nurture

an inclusive environment where each person uses their skills, talents, backgrounds and perspectives to contribute to the business success at Braze.

At its foundation, the company aims to grow and nurture an inclusive environment where each person uses their skills, talents, backgrounds and perspectives to contribute to the business success at Braze.

We do this through making our processes and systems inclusive by design, monitoring the efficacy of our processes and systems, and delivering programs that enhance the Braze community.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business