Robust Liquidity

Record second‑quarter free cash flow of $22 million and a liquidity pool of $414 million in cash, cash equivalents, restricted cash and marketable securities underscored strong liquidity. Braze also completed a $50 million accelerated share‑repurchase program in August, signaling confidence in its valuation. Non‑GAAP operating income represented 9.7 % of revenue, and non‑GAAP net income attributable to Braze shareholders was $21 million or $0.19 per share.