Braze grows 24% to $738M but losses widen; $303M OfferFit buy adds AI, IT control gap persists

Filed March 25, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 31, 2025 · ~2 min read

Key Changes

• high

  Material weakness in IT general controls continues for second year; remediation deadline missed and pushed from FY2026 to FY2027 with no guarantee of completion timeline.

  Controls & Procedures verify on EDGAR →
• high

  Acquired OfferFit for $303M (cash + stock) to power new AI Decisioning Studio, Agent Console, and Operator products; auditor flags developed technology valuation as critical audit matter.

  Business & Notes verify on EDGAR →
• high

  Revenue grew 24% to $738M but net loss widened to $131M (vs. $104M prior year) due to acquisition costs and 17% headcount expansion; gross margin compressed 200bps to 67%.

  MD&A verify on EDGAR →