Net Revenue RetentionBraze indicated F4Q dollar-based net retention would be 110%, down from 114% in F2Q and below our previous estimate of 112%.
ProfitabilityInvestors are cautious due to a lack of profitability, decelerating growth, a weaker macro environment, and a competitive landscape.
RevenueBraze printed strong operating margin results but experienced a revenue deceleration, raising concerns about the ability to reaccelerate top-line growth.