Recent News
July 7, 2026: Braze announced a data-integration partnership with Databricks to improve cloud data workflows and partner data ingestion. June 29, 2026: media coverage focused on Braze’s positioning around AI and brand-building in a changing marketing landscape. May 28, 2026: executive commentary appeared in the press on AI-driven growth and product roadmap priorities.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 21.42 signals an emerging trend; DI+ at 34.35 while DI- at 19.49 with DI+ increasing and DI- decreasing indicates a bullish directional bias supporting further near-term upside relative to the current valuation.
MACD: MACD sits at 1.60 above the signal line at 1.27 and shows a dip-and-reversal pattern, which constitutes a bullish momentum shift and confirms recent upside momentum in price action.
MRO (Momentum/Regression Oscillator): MRO at 33.56 and rising indicates price sits above the calculated target, implying pressure for mean reversion; this contrasts with momentum signals and increases the risk of consolidation beneath WMDST’s stated valuation level.
RSI: RSI at 60.11 with a dip-and-reversal pattern registers continued buying interest without overbought extremes, supporting the immediate bullish technical bias but leaving room for short-term pullbacks.
Price vs. moving averages and bands: The close at $31.44 trades above the 12-day EMA ($29.31), 20-day average ($28.77), 50-day average ($24.86) and 200-day average ($24.52); price also sits just above the 1× upper Bollinger band ($30.84) and below the 2× upper band ($32.90), indicating strength that approaches the short-term upper envelope.
Ichimoku and support: Tenkan-sen at $28.20 and Kijun-sen at $26.41 sit below price, aligning with bullish short-to-intermediate structure; the super-trend lower support at $27.79 provides a nearer-term structural floor.
Volume & volatility: Today’s volume (~6.2M) materially exceeds the 10-day and 200-day averages and confirms conviction behind recent moves; 42-day and 52-week volatility at 4% signal relatively contained realized volatility for the current move.
Fundamental Analysis
Top line and growth: Total revenue stands at $210,999,000. Year-over-year revenue growth registers +174.76% while quarter-over-quarter revenue shows -62.16%, reflecting a large annual acceleration paired with short-term seasonality or timing effects; overall trailing revenue growth reads +2.84%.
Profitability: Operating (EBIT) is negative $27,514,000 and operating margin sits at -13.04% (down -47.46% YoY and down -5.25% QoQ). Gross margin at 65.72% holds firm with a small YoY compression of -4.23%, indicating cost of revenue remains controlled while operating leverage lags.
Cash flows and balance sheet: Cash and short-term investments total $387,521,000 with free cash flow $26,791,000 and free cash flow yield 1.08% (free cash flow rising strongly YoY). The current ratio equals 1.24 (down ~35.40% YoY) and cash ratio ≈ 0.88, leaving liquidity adequate but reduced versus prior year.
Valuation multiples: Trailing P/E at 222.53 and forward P/E ~91.17 place multiples well above the industry peer mean of 107.24 and median of 81.65 for P/E; price-to-book at 4.28 sits below the industry peer mean of 7.62 and median of 6.66; price-to-sales at 11.79 sits below the industry peer mean of 34.03. WMDST’s enterprise-value-to-revenue and enterprise multiple metrics reflect the market’s premium expectations for growth and AI-driven revenue expansion.
Returns and efficiency: Return on assets at -2.41% and return on equity at -4.57% signal negative profitability despite a healthy gross margin; asset turnover at 0.191 (above the industry peer mean of 0.128) indicates reasonable revenue generation from deployed assets.
Comparative context: EBIT margin of -13.04% contrasts with the industry peer mean of 39.77% and median of 49.87%, underscoring ongoing margin investment. Cash conversion cycle days at 47.45 vs. the industry peer mean of -23.04 days point to a longer working-capital cycle than typical peers.
Valuation view: WMDST values the stock as over-valued. That valuation aligns with very high trailing and forward multiples relative to the company’s negative operating margins, even as revenue growth and cash generation show improving trends.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-04-30 |
| REPORT DATE: | 2026-05-27 |
| NEXT REPORT DATE: | 2026-08-26 |
| CASH FLOW | Begin Period Cash Flow | $ 128.3 M |
| Operating Cash Flow | $ 28.1 M | |
| Capital Expenditures | $ -1.33 M | |
| Change In Working Capital | $ -1.12 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 20.9 M | |
| End Period Cash Flow | $ 149.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 211.0 M | |
| Forward Revenue | $ -53.72 M | |
| COSTS | ||
| Cost Of Revenue | $ 72.3 M | |
| Depreciation | $ 6.3 M | |
| Depreciation and Amortization | $ 6.3 M | |
| Research and Development | $ 46.1 M | |
| Total Operating Expenses | $ 238.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 138.7 M | |
| EBITDA | $ -21.23 M | |
| EBIT | $ -27.51 M | |
| Operating Income | $ -27.51 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | $ -24.06 M | |
| Tax Provision | $ 1.4 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -26.59 M | |
| Net Income From Continuing Operations | $ -25.49 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.10 | |
| EPS Actual | $ 0.10 | |
| EPS Difference | $ 0.00 | |
| EPS Surprise | -3.85 % | |
| Forward EPS | $ 0.24 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.1 B | |
| Intangible Assets | $ 320.6 M | |
| Net Tangible Assets | $ 261.1 M | |
| Total Current Assets | $ 546.7 M | |
| Cash and Short-Term Investments | $ 387.5 M | |
| Cash | $ 145.3 M | |
| Net Receivables | $ 118.5 M | |
| Inventory | — | |
| Long-Term Investments | $ 7.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 5.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 441.5 M | |
| Net Debt | — | |
| Total Debt | $ 81.5 M | |
| Total Liabilities | $ 507.9 M | |
| EQUITY | ||
| Total Equity | $ 581.7 M | |
| Retained Earnings | $ -744.71 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 5.20 | |
| Shares Outstanding | 111.784 M | |
| Revenue Per-Share | $ 1.89 | |
| VALUATION | Market Capitalization | $ 2.5 B |
| Enterprise Value | $ 2.2 B | |
| Enterprise Multiple | -102.754 | |
| Enterprise Multiple QoQ | 6.488 % | |
| Enterprise Multiple YoY | 20.267 % | |
| Enterprise Multiple IPRWA | high: 477.541 mean: 78.512 median: 52.352 BRZE: -102.754 low: -246.135 |
|
| EV/R | 10.339 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.876 | |
| Asset To Liability | 2.148 | |
| Debt To Capital | 0.123 | |
| Debt To Assets | 0.075 | |
| Debt To Assets QoQ | 0.606 % | |
| Debt To Assets YoY | -23.971 % | |
| Debt To Assets IPRWA | high: 1.037 mean: 0.163 median: 0.075 BRZE: 0.075 low: 0.005 |
|
| Debt To Equity | 0.14 | |
| Debt To Equity QoQ | 5.683 % | |
| Debt To Equity YoY | -23.908 % | |
| Debt To Equity IPRWA | high: 3.078 mean: 0.247 BRZE: 0.14 median: 0.128 low: -2.107 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.277 | |
| Price To Book QoQ | 7.65 % | |
| Price To Book YoY | -44.654 % | |
| Price To Book IPRWA | high: 19.185 mean: 7.618 median: 6.661 BRZE: 4.277 low: -10.151 |
|
| Price To Earnings (P/E) | 222.53 | |
| Price To Earnings QoQ | 1.272 % | |
| Price To Earnings YoY | -55.439 % | |
| Price To Earnings IPRWA | high: 359.099 BRZE: 222.53 mean: 107.235 median: 81.648 low: -196.279 |
|
| PE/G Ratio | — | |
| Price To Sales (P/S) | 11.789 | |
| Price To Sales QoQ | -2.388 % | |
| Price To Sales YoY | -47.882 % | |
| Price To Sales IPRWA | high: 81.172 mean: 34.034 median: 32.739 BRZE: 11.789 low: 0.213 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 91.166 | |
| Forward PE/G | — | |
| Forward P/S | -45.961 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.901 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.191 | |
| Asset Turnover Ratio QoQ | 0.52 % | |
| Asset Turnover Ratio YoY | 3.943 % | |
| Asset Turnover Ratio IPRWA | high: 0.368 BRZE: 0.191 mean: 0.128 median: 0.124 low: 0.002 |
|
| Receivables Turnover | 1.752 | |
| Receivables Turnover Ratio QoQ | -9.233 % | |
| Receivables Turnover Ratio YoY | -1.966 % | |
| Receivables Turnover Ratio IPRWA | high: 5.131 BRZE: 1.752 mean: 1.418 median: 1.277 low: 0.46 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 52.074 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 47.455 | |
| Cash Conversion Cycle Days QoQ | 9.037 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 180.031 BRZE: 47.455 mean: -23.039 median: -60.051 low: -179.144 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.006 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -0.212 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 581.7 M | |
| Net Invested Capital | $ 581.7 M | |
| Invested Capital | $ 581.7 M | |
| Net Tangible Assets | $ 261.1 M | |
| Net Working Capital | $ 105.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.878 | |
| Current Ratio | 1.238 | |
| Current Ratio QoQ | -8.335 % | |
| Current Ratio YoY | -35.401 % | |
| Current Ratio IPRWA | high: 7.228 mean: 1.733 BRZE: 1.238 median: 1.23 low: 0.314 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -3.837 | |
| Cost Of Debt | 2.801 % | |
| Interest Coverage Ratio | -7.182 | |
| Interest Coverage Ratio QoQ | -2.56 % | |
| Interest Coverage Ratio YoY | -31.595 % | |
| Interest Coverage Ratio IPRWA | high: 86.943 median: 53.499 mean: 37.421 BRZE: -7.182 low: -64.202 |
|
| Operating Cash Flow Ratio | -0.028 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 4.619 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.04 % | |
| Revenue Growth | 2.841 % | |
| Revenue Growth QoQ | -62.16 % | |
| Revenue Growth YoY | 174.758 % | |
| Revenue Growth IPRWA | high: 18.552 % median: 8.591 % mean: 8.144 % BRZE: 2.841 % low: -13.038 % |
|
| Earnings Growth | 0.0 % | |
| Earnings Growth QoQ | -100.0 % | |
| Earnings Growth YoY | -100.0 % | |
| Earnings Growth IPRWA | high: 66.142 % mean: 11.625 % median: 10.345 % BRZE: 0.0 % low: -73.529 % |
|
| MARGINS | ||
| Gross Margin | 65.717 % | |
| Gross Margin QoQ | 0.356 % | |
| Gross Margin YoY | -4.228 % | |
| Gross Margin IPRWA | high: 90.951 % mean: 71.222 % median: 67.197 % BRZE: 65.717 % low: 35.718 % |
|
| EBIT Margin | -13.04 % | |
| EBIT Margin QoQ | -5.253 % | |
| EBIT Margin YoY | -47.46 % | |
| EBIT Margin IPRWA | high: 80.922 % median: 49.869 % mean: 39.765 % BRZE: -13.04 % low: -32.768 % |
|
| Return On Sales (ROS) | -13.04 % | |
| Return On Sales QoQ | -5.253 % | |
| Return On Sales YoY | -47.46 % | |
| Return On Sales IPRWA | high: 77.678 % median: 45.111 % mean: 36.048 % BRZE: -13.04 % low: -32.768 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 26.8 M | |
| Free Cash Flow Yield | 1.077 % | |
| Free Cash Flow Yield QoQ | 91.979 % | |
| Free Cash Flow Yield YoY | 72.596 % | |
| Free Cash Flow Yield IPRWA | high: 5.981 % BRZE: 1.077 % mean: 0.749 % median: 0.666 % low: -3.884 % |
|
| Free Cash Growth | 92.88 % | |
| Free Cash Growth QoQ | -524.614 % | |
| Free Cash Growth YoY | 84.198 % | |
| Free Cash Growth IPRWA | high: 203.894 % BRZE: 92.88 % median: 24.274 % mean: 9.685 % low: -222.15 % |
|
| Free Cash To Net Income | -1.008 | |
| Cash Flow Margin | -5.869 % | |
| Cash Flow To Earnings | 0.466 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -2.412 % | |
| Return On Assets QoQ | -17.763 % | |
| Return On Assets YoY | -40.679 % | |
| Return On Assets IPRWA | high: 9.707 % median: 4.924 % mean: 3.949 % BRZE: -2.412 % low: -9.216 % |
|
| Return On Capital Employed (ROCE) | -4.236 % | |
| Return On Equity (ROE) | -0.046 | |
| Return On Equity QoQ | -9.789 % | |
| Return On Equity YoY | -39.401 % | |
| Return On Equity IPRWA | high: 0.188 median: 0.081 mean: 0.068 BRZE: -0.046 low: -0.266 |
|
| DuPont ROE | -4.412 % | |
| Return On Invested Capital (ROIC) | -2.838 % | |
| Return On Invested Capital QoQ | 4.492 % | |
| Return On Invested Capital YoY | -131.027 % | |
| Return On Invested Capital IPRWA | high: 19.61 % median: 7.551 % mean: 6.137 % BRZE: -2.838 % low: -14.563 % |
|