Latest news with #Absolutely
India.com
15-07-2025
- Entertainment
- India.com
Meet actor who delivered 7 blockbusters in 1987 alone, redefined stardom, and left Box Office shaken, his name is..., films are...
In an industry where stars flicker and fade faster than weekend collections, Dharmendra is a rare supernova, still glowing, still rising, even at 89. But long before he was Bollywood's charming granddad, he was a one-man action storm in the '80s. And in 1987, he didn't just show up — he took over. Who is Bollywood's original action hero? Born on December 8, 1935, in Punjab, Dharmendra started his journey in 1960 with Dil Bhi Tera Hum Bhi Tere. What followed was a career that would go on to define masculinity in Indian cinema, rugged, romantic, and real. He carved a niche that balanced power with poetry. His voice? Thunder. His dialogue delivery? Iconic. His onscreen presence? Unmistakable. What made 1987 a record-breaking Year for Dharmendra? In a time before streaming and social media, Dharmendra was the original content machine. In 1987 alone, he starred in 12 films, a feat in itself, seven of which became box office hits. From Loha to Dada Giri, and from Hukumat to Mard Ki Zabaan, he was the face of mass entertainment, releasing more blockbusters in a year than most actors manage in a decade. These were the films The seven films from that legendary year that struck gold are Loha, Dada Giri, Hukumat, Watan Ke Rakhwale, Insaniyat Ke Devta, Jan Hatheli Pe and Mard Ki Zabaan. Each one is packed with powerful dialogues, flying punches, and Dharmendra's magnetic screen energy, all of which still draw millions of YouTube views today. He is still active in cinema Absolutely. In 2023, he was seen in Rocky Aur Rani Kii Prem Kahani as a suave, poetry-loving grandfather. In 2024, he played a lovable Daadu in Teri Baaton Mein Aisa Uljha Jiya. Even today, he charms across generations, proving that legacy isn't built on fame alone, but consistency and soul. Dharmendra's film career With nearly 300 films under his belt, Dharmendra has done everything, from slapstick (Chupke Chupke) to spine-chilling (Sholay), from folklore (Ali Baba 40 Chor) to feel-good family dramas (Yamla Pagla Deewana). He's acted alongside his sons Sunny and Bobby Deol, built a dynasty, and yet, he remains humble — a star who never needed to shout to shine.
Time of India
12-07-2025
- Entertainment
- Time of India
Adam Cole vacates AEW TNT Title citing health issues, announces extended absence
Adam Cole relinquishes AEW TNT Title during All In: Texas Adam Cole officially vacated the AEW TNT Championship during the All In: Texas event, citing ongoing health issues . The announcement was made during an in-ring address where Cole confirmed he would be taking an indefinite leave from All Elite Wrestling (AEW). The promotion has not disclosed the nature of Cole's medical concerns. Cole, a prominent figure in AEW and professional wrestling , stated, 'It's really hard to put this into words, but I wanted to come out here and talk to you all. Very sorry that I let everybody down and I can't wrestle tonight.' Also read: 'Absolutely Wild Scenes': Moxley retains AEW World Championship title in brutal street fight against Cope The wrestler added, 'I have some health issues going on at the moment that not only will not allow me to defend this championship tonight, but I am going to be gone for a while.' Live Events During his remarks, Cole expressed gratitude for fan support and acknowledged the possibility of retirement, though he emphasized he was not ready to make that decision. 'I don't even want to think about talking about retiring because I am not in the right headspace,' he said. 'But I wanted to have this opportunity to come out and talk to you all, if this is indeed goodbye, because you are the best damn wrestling fans in the world.' AEW star acknowledges fan support and career journey Adam Cole reflected on his journey in professional wrestling, crediting the fans for helping fulfill a lifelong dream. 'Since I was nine years old, I've always dreamed of becoming a professional wrestler. It's all I ever wanted to do, and all of you made that dream come true for me,' he said. Also read: Mariah May's WWE NXT debut leaves everyone speechless; Is she the next women's champion? He continued, 'You've supported me across multiple promotions all over the world you have no idea how much that means to me. With my highest moments and recently my lowest moments, all of you have been so supportive every step of the way and, damn it, I will love you forever. Thank you so much.' Cole also took the time to thank the AEW fanbase and the company as a whole: 'From me, honestly, from everybody at AEW, thank you for making AEW what it is. Thank you for making AEW so special and thank you all so damn much for changing my life. I love you always.' Following his address, Adam Cole was met in the ring by fellow wrestlers Kyle O'Reilly and Roderick Strong, who embraced him in a show of support.
USA Today
22-06-2025
- Business
- USA Today
FedEx founder Fred Smith dies at 80
FedEx founder Frederick Wallace Smith, whose express shipping company revolutionized air cargo transportation and set the standard for "absolutely, positively" overnight delivery, died on June 21, FedEx has confirmed. He was 80. Smith, who led FedEx as its chairman and CEO for the vast majority of his tenure, took the rough idea detailed in his rushed college term paper and molded it into a global shipping juggernaut now worth tens of billions of dollars, handling millions of packages every day and employing hundreds of thousands of people worldwide. "Fred was more than just the pioneer of an industry and the founder of our great company. He was the heart and soul of FedEx – its PSP culture, values, integrity, and spirit," FedEx CEO and President Raj Subramaniam said in a message sent to FedEx team members. "He was a mentor to many and a source of inspiration to all. He was also a proud father, grandfather, husband, Marine, and friend; please keep the entire Smith family in your thoughts and prayers during this difficult time." It took years for Smith's vision to get off the ground. Financing hurdles and regulatory restraints extended the time it took to prove the immense value of an express shipping network for businesses who needed vital goods like machine parts and electronics delivered fast. Before FedEx, urgent air cargo was at the whim of passenger planes. 'I just knew it was correct, but there were only a few believers at first,' Smith said, according to the Robert Sigafoos' 1983 book 'Absolutely, Positively Overnight!' chronicling FedEx's early history. 'The overwhelming body of opinion said it wouldn't work, or that we couldn't raise the money.' After FedEx's business took off in the 1980s, Smith began to wield considerable influence in both the business and political realms. He forged close ties with presidents and presidential candidates — George W. Bush and John McCain in particular — and members of U.S. Congress while advocating for minimal trade barriers, a key FedEx policy interest. 'I thought then what I still think — he is the most impressive executive I have ever met,' former FedEx Vice President and COO Jim Barksdale, who later became CEO of Netscape, said of his first impression of Smith. FedEx vision forms at young age Smith was born on Aug. 11, 1944, to Frederick Smith and Sally Wallace Smith in Marks, Mississippi. He was raised by his mother in Memphis after his father, founder and chairman of one of the largest bus lines in the South, died in 1948. As a child, Smith wore braces and used crutches due to a hip disorder. The ailment went away as he grew older, and he was an active athlete while attending the private Memphis University School, playing both basketball and football. Smith had an interest in both aviation and business at a young age. At age 15, he both learned to fly and started Ardent Record Company with two of his classmates. The label's first release broke even. Well-prepared for higher education following his graduation from Memphis University School, he attended Yale University beginning in 1962, majoring in economics and political science. In a moment immortalized in company lore, Smith's 1965 term paper at Yale outlined the basis for what would eventually become FedEx. 'In the paper, he laid out the logistical challenges facing pioneering firms in the information technology industry,' according to FedEx's company history. 'Most airfreight shippers relied on passenger route systems, but those didn't make economic sense for urgent shipments, Smith wrote. He proposed a system specifically designed to accommodate time-sensitive shipments such as medicine, computer parts, and electronics.' Smith had described his term paper as a last-minute endeavor, but felt he had the right idea in pointing out that air freight would move best in a system designed specifically for it, not as a passenger add-on. The professor gave Smith an average grade for the paper, he later recalled. It took years for Smith to revisit the idea. After graduating from Yale, he served as a U.S. Marine Corps officer from 1966 to 1970. 'A lot of Fred's ideas then, and I think now, come from his ideas in the Marines on how to manage troops and how to move things and how to get things done,' Barksdale said in 2020. In his first tour, which lasted seven months, Smith was a platoon leader and later a company commander. He returned flying planes on reconnaissance missions and was discharged in July 1969, awarded with a litany of medals, including two Purple Hearts, the Navy Commendation Medal and the Vietnamese Cross of Gallantry. 'It's not that I'm more patriotic than anyone else, but there are 500,000 Americans over there now and there is a job that I've been asked to do,' Smith said in 1968 when asked by a Commercial Appeal reporter why he was returning for a second tour. 'I'm not being conceited, but I have had a year's experience and I know I can do it better than any new officer they might send in to replace me.' Smith jumped into the Mid-South business world after his service, buying controlling interest in the struggling Little Rock-based Arkansas Aviation Sales run by his stepfather in 1970. The funds came from his father's estate. Smith managed to turn the company around, solidifying its reputation as a timely, low-cost corporate jet equipment and maintenance center. However, he encountered challenges that would inform him of the need for express shipping. Getting urgent goods delivered quickly for the business was difficult, with air cargo transportation dependent on passenger planes focused most on moving people. He knew other businesses had the same problem. 'If a hospital in Texas needs a heart valve tomorrow,' he told Memphis Magazine in 1978, 'it needs it tomorrow.' While running Arkansas Aviation Sales, Smith's mind wandered back to his term paper. He decided an express shipping company would fulfill a need worth pursuing full-time. Federal Express was incorporated on June 24, 1971, with the 'federal' piece of the name coming partly to woo a possible customer in the Federal Reserve Bank. Amid early FedEx struggles, faith placed in Fred The FedEx idea was initially narrow, focused on transporting bundles of checks for the Federal Reserve to expedite the process for clearing checks between banks. Although a deal with the bank fell through, Smith kept the name and decided to expand upon the idea, conceptualizing an operation catered around time-sensitive shipping. Building a profitable business off the idea wouldn't be easy. Others had attempted airmail services before but came up short. The transportation network had to be sizable enough and serve enough locations to bring in enough customers, meaning significant financing needed to be brought in. Federal Express was able to secure bank loans and receive enough in investments to begin making mail runs in 1972. The next year, Smith moved the company to Memphis permanently altering the economic trajectory of the Mid-South city. 'Memphis was chosen because of its central location within the U.S. and because Memphis International Airport was rarely closed due to bad weather,' per FedEx's company history. 'The airport was also willing to make the necessary improvements for the operation and additional hangar space was readily available.' FedEx deems April 17, 1973, as Federal Express' operational birthday. Fourteen small aircraft departed Memphis and delivered 186 packages to 25 U.S. cities. A total of 389 employees had a hand in the operation. Even after the successful run on April 17 and growing package volumes after that, Federal Express still had money troubles. Federal Express' first general manager, Roger Frock, wrote in his book 'Changing How the World Does Business' that by September, the company was essentially bankrupt and should have folded. Employees were sometimes asked to defer cashing their checks for a couple of days. Michael Basch, a founding officer and former senior vice president for FedEx, said a pilot had to use his own credit card to pay for plane fuel because the company 'didn't have any money.' Smith admitted in 1974 to forging documents to guarantee a $2 million loan from Little Rock Union Bank, Frock wrote, and amid the fallout investors and lenders hired Howell Estes as Federal Express' new chairman and chief executive officer. 'While it is possible to understand that, under extreme pressure, Fred was acting to save Federal Express from almost certain bankruptcy, and even to empathize with what he did, it nevertheless appeared to be a serious breach of conduct,' Frock wrote. Smith, still president, nearly resigned from the company amid the pressure. Senior managers voiced their support for his continued involvement and threatened to resign themselves if Smith was forced to. Estes resigned instead, and Smith became chairman and leader of the company once again. 'If Fred Smith lined up all 13,000 Federal Express employees on the Hernando de Soto Bridge in Memphis and said, 'Jump!' 99.9 percent of them would leap into the swift Mississippi River below,' Heinz Adam, the company's head of customer service said, according to "Absolutely Positively Overnight!" 'That's how much faith they've got in this guy.' Federal Express finally showed a profit in July 1975. Smith's company was primed to ascend as the standard-bearer of a unique service: rapid and reliable delivery of high-priority goods. 'We literally worked 20 hours a day, seven days a week, so it was tough,' Basch said of the early days of FedEx. 'We didn't think we were going to make it most of the time, but everybody hung in there.' Smith pushes for deregulation, global expansion Although Federal Express and Smith had a significantly more secure future, federal regulations placed a limit on how much the company could grow its express delivery operations. Most airlines had to land approval for new rates and routes from the Civil Aeronautics Board and expanding into new markets was an arduous process. Federal Express, using its small Falcon jets ferrying cargo, avoided these regulations in its early years, but the growing business wanted to fly larger aircraft and serve more markets. Smith spent time in Washington, D.C., to sway lawmakers to cut back these regulations. He directly testified before congressional committees seeking change to the law so his company wouldn't have to deal with CAB regulation. 'Our efforts down here, while they were enormously important to us, they were to some degree a sideshow to the much bigger issue that had bigger players with more of a voice than we did,' Smith said in 2014. 'But we just became a part of this conversation, more than anything else, because it was so obvious it was stupid to prevent us from doing what we were doing.' Many airlines carrying both passengers and cargo opposed Smith's proposal. Eventually, Smith won out. In 1977, President Jimmy Carter signed the Air Cargo Deregulation Act passed by Congress. Federal Express had the right to operate larger aircraft and expand its operations. Sixty-six days after deregulation, Federal Express received its first Boeing 727 cargo plane from United Airlines, Frock wrote. Smith's company was in the clear, and revenues soared after. Growth for company, Smith's influence Federal Express didn't look back. In 1983, the company reached revenues of $1 billion. It also expanded internationally throughout the decade, notably purchasing cargo airline Flying Tiger Line in 1989. The influence of Federal Express' Chairman, president and CEO grew as his company did. When Japan resisted FedEx's efforts to seek increased air rights in the country in the 1990s, Federal Express pressed the Senate to introduce a resolution — which it did — threatening sanctions against Japanese airlines. Smith also landed a 45-minute meeting with President Bill Clinton on the issue, the Wall Street Journal reported then. Japan eventually opened up for FedEx under a new treaty. Smith also enjoyed a close relationship with President George W. Bush, a fraternity brother of his at Yale. Bush's first choice for Defense Secretary after his victory in the 2000 election was Smith, but he declined for medical reasons, Bush wrote in his book 'Decision Points." Smith backed John McCain in his run for president in 2008, serving as national co-chair of his campaign committee and raising more than $100,000 for the Republican nominee. In 2018, Smith was one of the pallbearers at McCain's funeral, the BBC reported. It wasn't just Republicans who admired Smith. In 2010, President Barack Obama singled out Smith when asked by Bloomberg BusinessWeek to name a chief executive he admires. 'He's an example of somebody who is thinking long-term,' Obama said. Smith was critical of Obama's successor, Donald Trump, for his approach on global trade and use of tariffs. Still, FedEx coordinated with the Trump administration and played a key role in distributing personal protective equipment and vaccines during the COVID-19 pandemic. Smith made an appearance in 2020 at a roundtable with then-Vice President Mike Pence in Memphis to discuss the vaccine distribution effort. By then, public appearances were fewer and farther between for Smith, who ceded his role of FedEx president in 2018 and CEO in 2022. Smith's legacy was cemented well before then. His ambitious idea became a giant in American business, with enough gravity to influence presidents and policies while making tens of billions of dollars each year. 'I'm very focused on the here and now,' Smith told the Wall Street Journal in 2019. 'I don't care about any legacy. The legacy will be the success of the company.'
Business Wire
05-06-2025
- Business
- Business Wire
Braze Reports Fiscal First Quarter 2026 Results
NEW YORK--(BUSINESS WIRE)--Braze (Nasdaq: BRZE) the leading customer engagement platform that empowers brands to Be Absolutely Engaging™, today announced results for its fiscal quarter ended April 30, 2025. 'We are off to a good start in fiscal year 2026, delivering strong revenue growth, profitability, and free cash flow in an ever-changing environment,' said Bill Magnuson, Cofounder and CEO of Braze. 'I'm also excited to announce that Ed McDonnell will be joining Braze in July to lead all aspects of our global revenue operations. McDonnell has a strong track record of delivering results at high-growth public SaaS businesses, and we believe his extensive background in Software and Customer Engagement will further solidify Braze as the leading customer engagement platform and accelerate growth in the coming years.' Fiscal First Quarter 2026 Financial Highlights Revenue was $162.1 million compared to $135.5 million in the first quarter of the fiscal year ended January 31, 2025, up 19.6% year-over year, driven primarily by new customers, upsells, and renewals. Subscription revenue in the quarter was $154.9 million compared to $130.1 million in the first quarter of the fiscal year ended January 31, 2025, and professional services and other revenue was $7.2 million compared to $5.4 million in the first quarter of the fiscal year ended January 31, 2025. Remaining performance obligations as of April 30, 2025 were $829.3 million, of which $522.2 million is current, which the company defines as less than one year. GAAP gross margin was 68.6% compared to 67.1% in the first quarter of the fiscal year ended January 31, 2025. Non-GAAP gross margin was 69.3% compared to 67.9% in the first quarter of the fiscal year ended January 31, 2025. Dollar-based net retention for all customers for the trailing 12 months ended April 30, 2025 and April 30, 2024 was 109% and 117%, respectively; dollar-based net retention for customers with annual recurring revenue (ARR) of $500,000 or more was 112% compared to 119% in the first quarter of the fiscal year ended January 31, 2025. Total customers increased to 2,342 as of April 30, 2025 from 2,102 as of April 30, 2024; 262 of the company's customers had ARR of $500,000 or more as of April 30, 2025, compared to 212 customers as of April 30, 2024. GAAP operating loss was $40.2 million compared to an operating loss of $40.1 million in the first quarter of the fiscal year ended January 31, 2025. A primary contributor to the operating loss in the quarter included $30.4 million of stock-based compensation expense. Non-GAAP operating income was $2.8 million compared to a loss of $10.0 million in the first quarter of the fiscal year ended January 31, 2025. GAAP net loss per share attributable to Braze common stockholders, basic and diluted, of $0.34 based on 104.6 million weighted average shares outstanding in the first quarter of the fiscal year ended January 31, 2026, compared to GAAP net loss per share attributable to Braze common stockholders, basic and diluted, of $0.35, based on 100.8 million weighted average shares outstanding in the first quarter of the fiscal year ended January 31, 2025. Non-GAAP net income per share attributable to Braze common stockholders, diluted, was $0.07 based on 108.0 million weighted average shares outstanding in the first quarter of the fiscal year ended January 31, 2026, compared to non-GAAP net loss per share attributable to Braze common stockholders, basic and diluted, of $0.05 based on 100.8 million weighted average shares outstanding in the first quarter of the fiscal year ended January 31, 2025. Net cash provided by operating activities was $24.1 million compared to net cash provided by operating activities of $19.4 million in the first quarter of the fiscal year ended January 31, 2025. Free cash flow was $22.9 million compared to $11.4 million in the first quarter of the fiscal year ended January 31, 2025. Total cash and cash equivalents, restricted cash, and marketable securities was $539.8 million as of April 30, 2025 compared to $514.0 million as of January 31, 2025. Recent Business Highlights Notable new business wins in the quarter included Beyond, Inc., Chamberlain Group, an intelligence access leader, Evite, Freshket, Fubo, LUSH Cosmetics, Njuškalo, and ThredUp. Closed the acquisition of AI Decisioning Engine OfferFit, which will allow brands to benefit from complementary products and frontier technologies that can transform customer relationships and deliver value to their businesses. Introduced two dynamic new messaging channels - RCS and Banners - and a new Canvas step to help marketers create more immersive and responsive customer journeys. Announced hiring of Ed McDonnell as Chief Revenue Officer, effective early July. Science Based Target Initiative officially approved Braze's near-term emissions reduction targets, reinforcing its commitment to aligning with globally recognized standards for carbon emissions reductions and further advancing Braze's sustainability program. Financial Outlook Braze is initiating guidance for the fiscal second quarter ending July 31, 2025, and updating guidance for the fiscal year ending January 31, 2026. Braze has not reconciled its guidance as to non-GAAP operating income (loss), non-GAAP net income or non-GAAP net income per share to their most directly comparable GAAP measure as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in Braze's stock price. Accordingly, reconciliations are not available without unreasonable effort, although it is important to note that these factors could be material to Braze's results calculated in accordance with GAAP. Conference Call Information: What: Braze Fiscal First Quarter 2026 Financial Results Conference Call When: Thursday, June 5th at 4:30 pm EDT / 1:30 pm PDT Webcast & Supplemental Data: Replay: A webcast replay will be available on Braze's investor site at Supplemental and Other Financial Information Supplemental information, including an accompanying financial presentation and other information can be accessed through Braze's investor website at Non-GAAP Financial Measures This press release and the accompanying tables contain the following non-GAAP financial measures: non-GAAP gross profit and margin, non-GAAP sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, basic and diluted, and non-GAAP free cash flow. Braze defines non-GAAP gross profit and margin, non-GAAP sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP operating income (loss), non-GAAP operating margin, and non-GAAP net income (loss) as the respective GAAP balances, adjusted for stock-based compensation expense, employer taxes related to stock-based compensation, charitable contribution expense, contingent consideration adjustments, acquisition related expense, and amortization of intangible assets. Braze defines non-GAAP free cash flow as net cash provided by (used in) operating activities, minus purchases of property and equipment and minus capitalized internal-use software costs. Investors are encouraged to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures. Braze uses this non-GAAP financial information internally in analyzing its financial results and believes that this non-GAAP financial information, when taken collectively with GAAP financial measures, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles in the United States (GAAP), and may be different from similarly-titled non-GAAP measures used by other companies. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by GAAP to be recorded in Braze's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by Braze's management about which expenses are excluded or included in determining these non-GAAP financial measures. A reconciliation is provided below in the financial statement tables included below in this press release for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Braze encourages investors to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, which it includes in press releases announcing quarterly and fiscal year financial results, including this press release, and not to rely on any single financial measure to evaluate Braze's business. Definition of Other Business Metrics Customer: Braze defines a customer, as of period end, as the separate and distinct, ultimate parent-level entity that has an active subscription with Braze to use its products. A single organization could have multiple distinct contracting divisions or subsidiaries, all of which together would be considered a single customer. Annual Recurring Revenue (ARR): Braze defines ARR as the annualized value of customer subscription contracts, including certain premium professional services that are subject to contractual subscription terms, as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms (including contracts for which Braze is negotiating a renewal). Braze's calculation of ARR is not adjusted for the impact of any known or projected future events (such as customer cancellations, expansion or contraction of existing customers relationships or price increases or decreases) that may cause any such contract not to be renewed on its existing terms. ARR may decline or fluctuate as a result of a number of factors, including customers' satisfaction or dissatisfaction with Braze's products and professional services, pricing, competitive offerings, economic conditions or overall changes in Braze's customers' spending levels. ARR should be viewed independently of revenue and does not represent Braze's GAAP revenue on an annualized basis or a forecast of revenue, as it is an operating metric that can be impacted by contract start and end dates and renewal rates. Dollar-Based Net Retention Rate: Braze calculates dollar-based net retention rate as of a period end by starting with the ARR from a cohort of customers as of 12 months prior to such period-end (the Prior Period ARR). Braze then calculates the ARR from the same cohort of customers as of the end of the current period (the Current Period ARR). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months, but excludes ARR from new customers in the current period. Braze then divides the total Current Period ARR by the total Prior Period ARR to arrive at the point-in-time dollar-based net retention rate. Braze then calculates the weighted average point-in-time dollar-based net retention rates as of the last day of each month in the current trailing 12-month period to arrive at the dollar-based net retention rate. Remaining Performance Obligations: The transaction price allocated to remaining performance obligations represents amounts under non-cancelable contracts expected to be recognized as revenue in future periods, and may be influenced by several factors, including seasonality, the timing of renewals, the timing of service delivery and contract terms. Unbilled portions of the remaining performance obligation are subject to future economic risks including bankruptcies, regulatory changes and other market factors. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Braze's financial outlook for the second quarter of and the full fiscal year ended January 31, 2026 and the anticipated benefits from the acquisition of OfferFit, Inc. by Braze. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'goal,' 'hope,' 'intend,' 'may,' might,' 'potential,' 'predict,' 'project,' 'shall,' 'should,' 'target,' 'will' and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on Braze's current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Braze's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: (1) the extent to which Braze achieves anticipated financial targets; (2) the impact of management and organizational changes on OfferFit's business; (3) the impact on OfferFit employees and Braze's ability to retain key personnel; (4) the effectiveness in integrating the OfferFit platform and operations with our business; (5) Braze's ability to realize its broader strategic and operating objectives; (6) unstable market and economic conditions may have serious adverse consequences on Braze's business, financial condition and share price; (7) Braze's recent rapid revenue growth may not be indicative of its future revenue growth; (8) Braze's history of operating losses; (9) Braze's limited operating history at its current scale; (10) Braze's ability to successfully manage its growth; (11) the accuracy of estimates of market opportunity and forecasts of market growth and the impact of global and domestic socioeconomic events on Braze's business; (12) Braze's ability and the ability of its platform to adapt and respond to changing customer or consumer needs, requirements or preferences; (13) Braze's ability to attract new customers and renew existing customers; (14) the competitive markets in which Braze participates and the intense competition that it faces; (15) Braze's ability to adapt and respond effectively to rapidly changing technology, evolving cybersecurity and data privacy risks, evolving industry standards or changing regulations; and (16) Braze's reliance on third-party providers of cloud-based infrastructure; as well as other risks and uncertainties discussed in the 'Risk Factors' section of Braze's Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 31, 2025 and other subsequent filings Braze makes with the SEC from time to time, including Braze's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2025 that will be filed with the SEC. The forward-looking statements included in this press release represent Braze's views only as of the date of this press release and Braze assumes no obligation, and does not intend to update these forward-looking statements, except as required by law. About Braze Braze is the leading customer engagement platform that empowers brands to Be Absolutely Engaging.™ Braze allows any marketer to collect and take action on any amount of data from any source, so they can creatively engage with customers in real time, across channels from one platform. From cross-channel messaging and journey orchestration to Al-powered experimentation and optimization, Braze enables companies to build and maintain absolutely engaging relationships with their customers that foster growth and loyalty. The company has been recognized as a 2024 U.S. News & World Report Best Companies to Work For, 2024 Best Small & Medium Workplaces in Europe by Great Place to Work®, 2024 Fortune Best Workplaces for Women™ by Great Place to Work® and was named a Leader by Gartner® in the 2024 Magic Quadrant™ for Multichannel Marketing Hubs and a Strong Performer in The Forrester Wave™: Email Marketing Service Providers, Q3 2024. Braze is headquartered in New York with 15 offices across AMER, LATAM, EMEA, and APAC. Learn more at Braze uses its Investor website at as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor its investor relations website in addition to following its press releases, blog posts on its website ( SEC filings and public conference calls and webcasts. (3) Includes 1% Pledge charitable donation expense as follows: Three Months Ended April 30, 2025 2024 General and administrative $ 1,109 $ — Expand (4) Includes acquisition related expense as follows: Three Months Ended April 30, 2025 2024 General and administrative $ 10,020 $ — Expand Expand (6) Includes adjustment to the fair value of the contingent consideration liability as follows: Three Months Ended April 30, 2025 2024 General and administrative $ — $ (137 ) Expand BRAZE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share amounts) April 30, 2025 January 31, 2025 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 231,499 $ 83,062 Accounts receivable, net of allowance of $3,231 and $2,563 at April 30, 2025 and January 31, 2025, respectively 86,093 95,234 Marketable securities 307,795 430,457 Prepaid expenses and other current assets 33,752 35,273 Total current assets 659,139 644,026 Restricted cash, noncurrent 530 530 Property and equipment, net 38,803 38,550 Operating lease right-of-use assets 76,060 76,147 Deferred contract costs 79,320 76,766 Goodwill 28,448 28,448 Intangible assets, net 3,029 3,130 Other assets 3,805 3,401 TOTAL ASSETS $ 889,134 $ 870,998 LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 1,304 $ 2,150 Accrued expenses and other current liabilities 58,269 64,189 Deferred revenue 265,015 239,976 Operating lease liabilities, current 19,275 18,162 Total current liabilities 343,863 324,477 Operating lease liabilities, noncurrent 68,036 69,278 Other long-term liabilities 2,776 2,494 TOTAL LIABILITIES 414,675 396,249 COMMITMENTS AND CONTINGENCIES (Note 13) Redeemable non-controlling interest (Note 4) 33 (112 ) STOCKHOLDERS' EQUITY Class A common stock, $0.0001 par value; 2,000,000,000 and 2,000,000,000 shares authorized as of April 30, 2025 and January 31, 2025, respectively; 91,844,313 and 87,934,059 shares issued and outstanding as of April 30, 2025 and January 31, 2025, respectively 9 8 Class B common stock, $0.0001 par value; 110,000,000 and 110,000,000 shares authorized as of April 30, 2025 and January 31, 2025, respectively; 13,022,634 and 16,017,314 shares issued and outstanding as of April 30, 2025 and January 31, 2025, respectively 1 2 Additional paid-in capital 1,095,070 1,062,613 1,968 (926 ) TOTAL STOCKHOLDERS' EQUITY 474,426 474,861 $ 889,134 $ 870,998 Expand BRAZE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) Three Months Ended April 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss (including amounts attributable to redeemable non-controlling interests) $ (35,641 ) $ (35,707 ) Adjustments to reconcile net loss to net cash provided by operating activities: Stock-based compensation 30,643 28,620 Amortization of deferred contract costs 9,421 8,313 Depreciation and amortization 2,606 2,126 Provision for credit losses 232 668 Value of common stock donated to charity 1,109 — (Accretion) amortization of (discount) premium on marketable securities (399 ) (487 ) Non-cash foreign exchange (gain) loss 227 (295 ) Fair value adjustments to contingent consideration — (137 ) Other 9 280 Changes in operating assets and liabilities: Accounts receivable 9,108 9,876 Prepaid expenses and other current assets 3,147 (984 ) Deferred contract costs (11,870 ) (10,730 ) ROU assets and liabilities (410 ) 1,522 Other assets (403 ) 277 Accounts payable (978 ) (1,800 ) Accrued expenses and other current liabilities (7,203 ) (7,351 ) Deferred revenue 24,547 25,285 Other long-term liabilities (1 ) (81 ) Net cash provided by operating activities 24,144 19,395 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (217 ) (6,915 ) Capitalized internal-use software costs (1,055 ) (1,039 ) Purchases of marketable securities (52,364 ) (59,650 ) Maturities of marketable securities 63,215 57,000 Return of principal on marketable securities 113,258 — Net cash provided by/(used in) investing activities 122,837 (10,604 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of common stock options 605 1,035 Payments of deferred purchase consideration — (2,916 ) Net cash provided by/(used in) financing activities 605 (1,881 ) Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash 851 (337 ) Net change in cash, cash equivalents, and restricted cash 148,437 6,573 Cash, cash equivalents, and restricted cash, beginning of period 83,592 72,131 Cash, cash equivalents, and restricted cash, end of period $ 232,029 $ 78,704 Expand Reconciliation of GAAP to Non-GAAP Operating Expenses Three Months Ended April 30, 2025 2024 GAAP sales and marketing expense $ 74,127 $ 69,827 Less: Stock-based compensation expense 10,011 9,445 Employer taxes related to stock-based compensation expense 413 541 Non-GAAP sales and marketing expense $ 63,703 $ 59,841 GAAP research and development expense $ 36,797 $ 34,373 Less: Stock-based compensation expense 11,336 10,832 Employer taxes related to stock-based compensation expense 744 836 Non-GAAP research and development expense $ 24,717 $ 22,705 GAAP general and administrative expense $ 40,500 $ 26,791 Less: Stock-based compensation expense 7,975 7,037 Employer taxes related to stock-based compensation expense 213 297 1% Pledge charitable contribution expense 1,109 — Acquisition related expense 10,020 — Amortization of intangibles expense 101 218 Contingent consideration adjustment — (137 ) Non-GAAP general and administrative expense $ 21,082 $ 19,376 Expand Reconciliation of GAAP to Non-GAAP Operating Income (Loss) Three Months Ended April 30, 2025 2024 Loss from operations $ (40,222 ) $ (40,080 ) Plus: Stock-based compensation expense 30,399 28,278 Employer taxes related to stock-based compensation expense 1,430 1,742 1% Pledge charitable contribution expense 1,109 — Acquisition related expense 10,020 — Amortization of intangibles expense 101 218 Contingent consideration adjustment — (137 ) Non-GAAP income (loss) from operations $ 2,837 $ (9,979 ) GAAP operating margin (24.8 )% (29.6 )% Non-GAAP operating margin 1.8 % (7.4 )% Expand Reconciliation of GAAP to Non-GAAP Net Income (Loss) Three Months Ended April 30, 2025 2024 Net loss attributable to Braze, Inc. $ (35,786 ) $ (35,641 ) Plus: Stock-based compensation expense 30,399 28,278 Employer taxes related to stock-based compensation expense 1,430 1,742 1% Pledge charitable contribution expense 1,109 — Acquisition related expense 10,020 — Amortization of intangibles expense 101 218 Contingent consideration adjustment — (137 ) Non-GAAP net income (loss) attributable to Braze, Inc. (1) $ 7,273 $ (5,540 ) Non-GAAP net income (loss) per share attributable to Braze, Inc. common stockholders, basic $ 0.07 $ (0.05 ) Non-GAAP net income (loss) per share attributable to Braze, Inc. common stockholders, diluted $ 0.07 $ (0.05 ) Weighted-average shares used to compute net income (loss) per share attributable to Braze, Inc. common stockholders, basic 104,572 100,788 Weighted-average shares used to compute net income (loss) per share attributable to Braze, Inc. common stockholders, diluted 107,977 100,788 (1) Assumes no non-GAAP tax expenses associated with the non-GAAP adjustment due to the Company's historical non-GAAP net loss position and available deferred tax assets sufficient to offset such non-GAAP tax expense. Expand Braze is a registered trademark of Braze, Inc. All product and company names herein may be trademarks of their registered owners.
Fox Sports
04-06-2025
- Entertainment
- Fox Sports
Cool Jazz back at Yankee Stadium as Chisholm's homer sparks New York to 3-2 win over Cleveland
Associated Press NEW YORK (AP) — The New York Yankees had been missing their cool Jazz. Sidelined since April 29 by a strained right oblique, Jazz Chisholm Jr. drove Tanner Bibee's first pitch of the seventh inning toward the right-center stands. He shuffled up the first-base line, holding his bat, convinced it was a tiebreaking home run. And it was, barely, caught by a fan in the first row, 358 feet from home plate. 'Our hitting coach told me a story about Reggie Jackson,' Chisholm said after Tuesday night's 3-2 win over the Cleveland Guardians. 'He hit a homer that barely went over the fence. And he was like, `Hey, Reggie, how did you know that was gone?' And he's like, `Well, I hit 567 (actually 563) of them.' So I told my coach, my story is that I've hit 1,000 homers in my dreams, so I had to know that one was gone, right?' Chisholm went 2 for 3, also blooping a fifth-inning single for the Yankees' first hit and scoring on DJ LeMahieu's single. Anthony Volpe went deep six pitches after Chisholm, giving New York back-to-back homers for the fifth time this season. 'Honestly, I pictured a 3 for 3, but I'd take a 2 for 3,' Chisholm said. He returned to third base, his position with the Yankees last year, after making 29 starts at second through April 29, when he got hurt at Baltimore. New York manager Aaron Boone decided to leave LeMahieu at second, where he's started since coming back from a spring training calf injury on May 13. Chisholm didn't complain about the position switch and gushed: 'This is my favorite organization I've ever been a part of.' 'I just want to win. I want a ring,' Chisholm said. 'You got (Aaron) Judge. You got Volpe, and they come and talk to you and when you have such a good relationship with the manager, I mean, you don't mind doing anything for a guy that you have a good friendship with.' An All-Star with Miami in 2022, the 27-year-old played middle infield for the Marlins from 2020-22, was moved to center field from 2023-24, then inserted at third when the Yankees acquired him in a trade last July 27. 'Everyone's really pumped for him and happy for us that he's back helping us,' Volpe said. 'He's just so smooth and has such a great arm that you can play wherever you want to play with him over there.' Wearing a baby blue, 11 1/2-inch glove from his own company, Absolutely Ridiculous Innovation for Athletes (ARIA), Chisholm grabbed Angel Martinez's grounder down the line in the third and made a strong one-hop throw to first from foul territory for an inning-ending out. The glove is intended to be used for Father's Day on June 15 and Chisholm started to break it in during three rehab games last week at Double-A Somerset. "Sometimes you catch the ball over there at third base and you look at the first baseman and you're like, wow, he's pretty far," Chisholm said. He is batting just .194 with eight homers and 18 RBIs. But in addition to his bat and glove, Chisholm adds a vivacious personality. "Really excited to have him back and good to see him have that kind of impact right away,' Boone said. Devin Williams, back as closer after Luke Weaver strained a hamstring, allowed Carlos Santana's one-out double and pinch-hitter Daniel Schneemann's two-out RBI single in the ninth, then retired Bo Naylor on a flyout for his sixth save as AL East-leading New York won for the 11th time in 14 games. During spring training, Boone and the Yankees talked of Chisholm combining with Volpe, the third-year shortstop, on an exiting double-play combination. 'I really thought I was done at third base,' Chisholm said. 'I thought I left my career over there with a good stamp, but I guess we're back again. We got to shine again. We can't let that reputation go down at third base.' ___ AP MLB: recommended
