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Braze cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$23.0M in Q2 FY27 · $84.6M over twelve months

Operating cash flow$24.2M
Capital spending−$1.2M
Free cash flow+$23.0M
Cash conversion cycle42 days

Analysis

In Q2 FY27, Braze generated $24.2M of operating cash flow and spent $1.2M on capital projects, leaving free cash flow of $23.0M. That is $18.7M more than in Q2 FY26 ($4.3M).

Over the twelve months to Jul 31, 2026, operating cash flow was $92.7M; the largest uses were other financing ($46.9M), capital spending ($8.0M), acquisitions ($654K); besides operations, cash came from other investing ($34.3M), shares issued ($13.6M); the cash balance rose by $85.1M.

Operating cash flow was $24.2M against net income of −$18.3M. The largest differences: stock-based pay +$35.7M, prepaid and other assets −$7.1M, receivables +$6.0M.

Its cash conversion cycle was 42 days (receivables 47 + inventory 0 − payables 4).

Free cash flow

Braze: free cash flow by quarterBraze: free cash flow by quarter−$13.3MQ3 FY25$16.0MQ4 FY25$23.9MQ1 FY26$4.3MQ2 FY26$19.0MQ3 FY26$14.6MQ4 FY26$28.0MQ1 FY27$23.0MQ2 FY27
Operating cash flow less capital spending.
Braze: operating cash flow against capital spendingBraze: operating cash flow against capital spendingOperating cash flowCapital spending−$11.4M$1.9MQ3 FY25$17.1M$1.1MQ4 FY25$24.1M$217KQ1 FY26$7.0M$2.6MQ2 FY26$21.0M$1.9MQ3 FY26$19.4M$4.8MQ4 FY26$28.1M$108KQ1 FY27$24.2M$1.2MQ2 FY27
Latest (Q2 FY27): Operating cash flow $24.2M, Capital spending $1.2M.

Capital allocation, year by year

Braze: where the cash came from (up) and went (down), by fiscal yearBraze: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY22: Operating cash flow −$35.4MFY22: Shares issued $471MFY22: Capital spending −$2.3M$471MFY22FY23: Operating cash flow −$22.3MFY23: Shares issued $11.3MFY23: Capital spending −$15.4M$11.3MFY23FY24: Operating cash flow $6.8MFY24: Shares issued $7.3MFY24: Capital spending −$9.8MFY24: Acquisitions −$16.3MFY24: Buybacks −$165K$14.1MFY24FY25: Operating cash flow $36.7MFY25: Shares issued $6.9MFY25: Capital spending −$13.2M$43.6MFY25FY26: Operating cash flow $71.4MFY26: Shares issued $15.9MFY26: Capital spending −$9.6MFY26: Acquisitions −$182M$87.3MFY26
Over these 5 years operating cash flow totalled $57.3M; the largest uses were acquisitions ($198M) and operating cash flow ($57.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$167M
Debtnone
Net cash$167M

Braze funds itself: free cash flow was $84.6M over the last twelve months, with $167M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Braze: sources (+) and uses (−) of cash, Q2 FY27Braze: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$24.2MCash drawn (+) / kept (−)−$21.5MOther investing−$2.9MCapital spending−$1.2MOther financing$884KShares issued$672KExchange rates−$262K
Braze: sources (+) and uses (−) of cash, TTM to Q2 FY27Braze: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$92.7MCash drawn (+) / kept (−)−$85.1MOther financing−$46.9MOther investing$34.3MShares issued$13.6MCapital spending−$8.0MAcquisitions−$654KExchange rates$66K

From profit to cash

Braze: net income to operating cash flow, Q2 FY27Braze: net income to operating cash flow, Q2 FY27Net income−$18.3MDepreciation & amortization$3.4MStock-based pay$35.7MReceivables$6.0MPayables−$4.0MAccrued liabilities$5.6MDeferred revenue$4.3MPrepaid and other assets−$7.1MOther liabilities$520KOperating cash flow$24.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2747—442
Q1 FY2751—446
Q4 FY2648—344
Q3 FY2643—340
Q2 FY2645—243
Q1 FY2650—347
Q4 FY2553—548
Q3 FY2549—741

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$24.2M−$1.2M——$672K−$21.5M$23.0M
Q1 FY27$28.1M−$108K—−$50.0M$310K−$20.9M$28.0M
Q4 FY26$19.4M−$4.8M$35K—$11.6M−$26.5M$14.6M
Q3 FY26$21.0M−$1.9M−$689K—$1.1M−$16.1M$19.0M
Q2 FY26$7.0M−$2.6M——$2.6M$146M$4.3M
Q1 FY26$24.1M−$217K——$605K−$148M$23.9M
Q4 FY25$17.1M−$1.1M——$3.2M−$21.8M$16.0M
Q3 FY25−$11.4M−$1.9M——$1.5M$17.8M−$13.3M

Braze: income statement and cash flow

Braze, Q2 FY27: revenue $227M (+26% year over year), operating margin -8.0%. The chart follows the revenue to costs, profit and cash.

Braze: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.