Braze, Inc. (NASDAQ:BRZE) Q1 2024 Earnings Call Transcript

Page 12 of 14

Arjun Bhatia: That’s very helpful. Thank you, Bill.

Operator: And our next question comes from Brian Schwartz with Oppenheimer. Brian, you may unmute and ask your question. We’ll come back. Next question will be from Pat Walravens with JMP Securities.

Pat Walravens: Great. Thank you and let me add my congratulations. So Bill, when you look at sort of your partnership opportunities, what are you most excited about? And what’s out there that you guys don’t have yet that you’d like to get?

Bill Magnuson: Yes. I mean we’ve been really excited about the momentum that we’ve seen across the GSIs and across the big marketing agencies and specifically, we talked a lot about WPP last quarter. We’re continuing to deepen our coordination with those partners and also seeing them continue to build their bench of certified people within their teams that are ready to integrate Braze, ready to help our customers run campaigns and evolve them over time. And so that’s been really good to see that flywheel that I’ve spoken about over the last couple of quarters is really starting to spin. Within the technology partner landscape, we’ve been continuing to partner really closely all up and down the stack, looking at data warehouse providers, looking at a lot of the data transformation players, continuing to have channel partnerships as well to expand out there.

I spoke about the Audience Network generation — the Audience Network expansions as we’ve gone into more and more ad network targeting, as well as obviously the partnership with Meta as we’ve expanded into WhatsApp. So there’s a lot that we’ve been doing across the partnership landscape and we’re continuing to invest in those. I’d also go back to some of the ecosystem wide effects that we think we’re going to see as a lot of the — a lot of decision-making at the corporate level is going to try to optimize for getting more value out of AI. I think that these are also pressures that are going to motivate more brands to move to real-time, embrace data streaming, continue to ramp up their investments in first-party data, all of which are catalysts which are going to help drive that legacy replacement cycle.

And I think that means that our partners in the modern data ecosystem are going to stand the benefit. And so whether those pressures caused them to really look at customer engagement first or it causes them to look at the rest of their data ecosystem and start to upgrade all of it to be more real-time, to be based on streaming, to be cloud-based, like whatever it is, that is really their evolution. Those are all things that help our partners and it further smooths the path to them becoming a Braze customer over time.

Pat Walravens: Awesome. Thank you.

Operator: Our next question will be from Brian Schwartz with Oppenheimer. Brian, please press to unmute.

Camden Levy: Good afternoon. this is Camden Levy, sitting in for Brian Schwartz today. Thank you for taking my question. Can you speak about the momentum you’ve seen with global GSIs and sourcing new business? And if possible any insight you can provide on the percentage of your net new ARR that is currently derived from these growing relationships. Thanks.

Page 12 of 14