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Investing.com -- Shares of Braze (NASDAQ:BRZE) Inc surged 15% to $42.50 in extended trading after the software company reported better-than-expected fourth-quarter revenue and announced the acquisition of AI decisioning firm Offerfit for $325 million.
Braze posted Q4 revenue jump for 23% at $160.4 million, surpassing the average analyst estimate of $155.7 million.
However, the company reported a Q4 net loss of $17.06 million, or $0.17 per share, compared with analysts’ expectation of a net income of $5.73 million, or $0.05 per share.
Operating income came in at a loss of $21.56 million, well below the projected $2.5 million gain.
Braze said it is acquiring Offerfit, a firm specializing in AI-powered decisioning, for $325 million in a cash-and-stock deal. The transaction is expected to close by the fiscal quarter ending July 31.
For the first quarter, Braze forecast adjusted net income of $4.5 million to $5.5 million, or $0.04 to $0.05 per share.
It expects adjusted operating income between $0 and $1 million and revenue in the range of $158 million to $159 million.