04:31 AM EDT, 06/07/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Braze (BRZE) shares were up almost 15% in premarket activity on Friday after the company more than halved its net loss in fiscal Q1 as sales surged from a year ago and improved its full-year guidance.

The company reported a fiscal Q1 non-GAAP net loss late Thursday of $0.05 per diluted share, narrower than a net loss of $0.13 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.10.

Revenue for the quarter that ended April 30 was $135.5 million, up from $101.8 million a year earlier.

Analysts surveyed by Capital IQ expected $131.7 million.

The company expects a fiscal Q2 non-GAAP loss of $0.03 to $0.04 per share on revenue of $140.5 million to $141.5 million. Analysts surveyed by Capital IQ expect a loss of $0.04 and revenue of $139.8 million.

Braze now expects a fiscal 2025 non-GAAP loss of $0.06 to $0.10 per share, compared with its previous guidance of $0.08 to $0.12. Analysts expect a loss of $0.09.

Fiscal 2025 revenue is now expected in the range of $577 million to 581 million, up from its previous estimate of

$570 million to $575 million. Analysts are looking for $574.1 million.

Price: 42.20, Change: +5.42, Percent Change: +14.74