Patrik Laine set the Bell Centre ablaze last night with his first goal of the season. The fans were loud after seeing him score, and the crowd reaction was perfect. Like, PERFECT . After the game, the sniper said he didn’t deserve all the screaming... And he didn’t deserve the standing ovation . Welcome to Montreal, Patrik! That said, the fans already love him, because everyone knows how hard it’s been for him in the past. And the guys at HFTV have already created a song for him: The Patrik Laine song was dormant for 3 months... until last night pic.twitter.com/6bVHvUKogU – HFTV (@HFTVSports) December 4, 2024 Laine clearly felt the love from the fans and it made for a beautiful moment. When the fans are on your side, it’s easier to produce on the ice. And God knows, Laine has the support of the Habs fans! At this level, Jean-Luc Grand-Pierre (BPM Sports ) thinks that Laine might be willing to sign at a discount to stay in Montreal if he’s having fun in Montreal and the fans continue to give him so much love. The idea is interesting: Patrik Laine had a tough time in Winnipeg and Columbus, but if he’s enjoying himself in Montreal, he might want to sign for less to stay here! @JLGP34 pic.twitter.com/JtlJCargYv – BPM Sports (@BPMSportsRadio) December 4, 2024 Patrik Laine earns an annual salary of $8.7m and his contract expires at the end of the 25-26 season. What I mean by that is that Kent Hughes still has time to watch him before making his decision. But if Laine produces up to his potential, fills the net and wants to stay in town while still being able to be healthy... the idea of extending his contract will become really interesting for the Canadiens. Kent Hughes is constantly looking to improve his club, and a healthy Laine can help the team on the ice. And if Laine stays, Demidov arrives and Michael Hage becomes an impact player in the NHL, the Habs will have ammunition to go to war on offense : Slaf – Suzuki – Caufield Laine – Dach – Demidov Newhook – Hage – ? That’s a lot of talent, and obviously some things can change between now and then. But seeing Laine stay in Montreal, conditions permitting, would fill a direct need in the Canadiens’ line-up. Overtime – Indeed. Ward: That’s excitement on steroids for locker room https://t.co/HK3D9HFgkp – TSN 690 Montreal (@TSN690) December 4, 2024 – That’s normal. Seguin sidelined: How Stars plan to navigate “big hole” left in forward’s absence https://t.co/TuRrm4wvYy – Mike Heika (@MikeHeika) December 4, 2024 – Great contest : Win a privileged experience at a Canadiens game, thanks to @Miseojeu+ ! Be part of the action ↓ #GoHabsGo – Montreal Canadiens (@CanadiensMTL) December 4, 2024 – Reminder: there are four games tonight in the NHL. A four-game slate sees the @MapleLeafs and @PredsNHL open a doubleheader on @Sportsnet while an @NHL_On_TNT and @SportsonMax two-pack begins with an Original Six showdown between the @NHLBruins and @NHLBlackhawks also broadcast on @TVASports .#NHLStats: https://t.co/Csqd3rxE1D pic.twitter.com/HV8xRAVoSw – NHL Public Relations (@PR_NHL) December 4, 2024 – Too bad for the Spurs. Wembanyama on the sidelineshttps://t.co/6RXI4TNiRC – RDS (@RDSca) December 4, 2024 This article first appeared on Dose.ca and was syndicated with permission.Liverpool held by Newcastle in thriller, Arsenal and Chelsea close gap

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (SAN) has revealed that prosecution of cases is the most critical in the fight against corruption. Director, Public Enlightenment and Education. Spokesperson for the Commission, Demola Bakare, in a press statement, Wednesday in Abuja, said Dr. Aliyu stated this on while delivering a welcome address at a Capacity Building Workshop for Judges on the Promotion of Public Policy and Interest of Justice in the Prosecution of Corruption Cases and Other Related Offences, organised by the ICPC in collaboration with the National Judicial Institute (NJI), Wednesday in Abuja. According to the ICPC Boss, investigation and prosecution of cases are pivotal to achieving success in anti-corruption efforts, adding that the perception of the ordinary man on the street is tied to trial of cases in courts and the recoveries of proceeds of corruption. “The investigation and prosecution mandate of the Commission is very critical in the fight against corruption, especially the prosecution of cases in court, which is part of the enforcement process. This prosecution of cases is the most critical in the fight against corruption as the perception of the ordinary man in the street is tied to the trial of cases in court and recoveries of looted funds,” he emphasised. He said Dr. Aliyu seized opportunity to draw the attention of the Judges on the need to integrate technology into trial of cases, revealing that “in the fight against corruption globally and in the trial of cases, new case management systems are being innovated for an effective and efficient justice delivery system”. According to the anti-graft agency boss, “the new norm now is the admissibility of electronically generated evidence and the introduction of technology in the administration of justice in our judicial system”. The xhairman also told the judges that the workshop was necessary, as the justice sector remained the fulcrum of concern in the fight against corruption. “The justice sector remains a focal point of concern, particularly regarding bribery involving stakeholders in the justice sector,” he further stated. He revealed that “despite limited public contact, judicial officials exhibit relatively high bribery prevalence, emphasizing the need for targeted anti-corruption measures in this sector.” In a keynote address, the Chief Justice of Nigeria (CJN), Hon. Justice Kudirat M.O. Kekere-Ekun, reminded the participants that the role of judicial officers in ensuring effective prosecution of corruption cases could not be dispensed, adding that the Judiciary remains the cornerstone of the criminal justice system in Nigeria. Represented by Hon. Justice Salisu Garba Abdullahi, the Administrator of NJI, the CJN pointed out that the workshop, which was a platform for capacity building, had underscored the judges’ collective commitment to advancing the administration of justice and combating corruption in the society. Blueprint reports that the workshop brought together, judges across Nigeria with the focus on building the capacity of the senior judicial officers in areas of justice system, forfeiture laws, money laundering, and the integration of technology into cases of trial.NEW YORK--(BUSINESS WIRE)--Dec 9, 2024-- Braze (Nasdaq: BRZE) the leading customer engagement platform that empowers brands to Be Absolutely EngagingTM, today announced results for its fiscal quarter ended October 31, 2024. “We continued to execute in the third quarter, delivering strong revenue growth and operating leverage while maintaining steady investment in our product, our ecosystem, and our go-to-market motion to continue positioning Braze as the leading cross-channel customer engagement platform,” said Bill Magnuson, Cofounder and CEO of Braze. “We are confidently on track to meet our profitability targets for the fiscal fourth quarter of and full fiscal year 2025, and continue to focus on driving growth through customer engagement innovations that empower our customers to create more valuable customer experiences.” Fiscal Third Quarter 2025 Financial Highlights Recent Business Highlights Financial Outlook Braze is initiating guidance for the fiscal fourth quarter ending January 31, 2025 and updating guidance for the fiscal year ending January 31, 2025. Metric (in millions, except per share amounts) FY 2025 Q4 Guidance FY 2025 Guidance Revenue $155.0 - 156.0 $588.0 - 589.0 Non-GAAP operating income (loss) $2.0 - 3.0 $(5.0) - (6.0) Non-GAAP net income $5.0 - 6.0 $11.0 - 12.0 Non-GAAP net income per share, diluted $0.05 - 0.06 $0.10 - 0.11 Weighted average common shares used in computing non-GAAP net income per share, diluted ~107.5 ~107.0 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 Third Quarter Fiscal Year 2025 Financial Results Conference Call When: Monday, December 9th at 4:30 pm EST / 1:30 pm PST Webcast & Supplemental Data: investors.braze.com Replay: A webcast replay will be available on Braze’s investor site at investors.braze.com . Supplemental and Other Financial Information Supplemental information, including an accompanying financial presentation and other information can be accessed through Braze’s investor website at investors.braze.com . 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, amortization of intangible assets, and restructuring expense. Prior to the fourth quarter of the fiscal year ended January 31, 2024, Braze did not adjust 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 or non-GAAP net income (loss) for contingent consideration adjustments, because there were no such adjustments in prior periods. 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 fourth quarter of and the full fiscal year ended January 31, 2025. 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) unstable market and economic conditions may have serious adverse consequences on Braze’s business, financial condition and share price; (2) Braze’s recent rapid revenue growth may not be indicative of its future revenue growth; (3) Braze’s history of operating losses; (4) Braze’s limited operating history at its current scale; (5) Braze’s ability to successfully manage its growth; (6) 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; (7) Braze’s ability and the ability of its platform to adapt and respond to changing customer or consumer needs, requirements or preferences; (8) Braze’s ability to attract new customers and renew existing customers; (9) the competitive markets in which Braze participates and the intense competition that it faces; (10) 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 (11) 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 April 1, 2024 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 October 31, 2024 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.TM 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 Best Technology Companies to Work For, is a 2023 UK Best Workplace for Women by Great Place to Work, and was named a Leader by Gartner® in the 2024 Magic QuadrantTM for Multichannel Marketing Hubs and in The Forrester WaveTM: Cross-Channel Marketing Hubs, Q1 2023. Braze is headquartered in New York with 10+ offices across North America, Europe, and APAC. Learn more at braze.com . Braze uses its Investor website at investors.braze.com 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 (braze.com), SEC filings and public conference calls and webcasts. Selected Financial Data BRAZE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share amounts) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenue $ 152,052 $ 123,956 $ 433,010 $ 340,843 Cost of revenue (1)(2) 45,910 36,374 133,878 104,535 Gross profit 106,142 87,582 299,132 236,308 Operating expenses: Sales and marketing (1)(2)(6) 74,658 66,395 213,054 184,074 Research and development (1)(2) 32,855 29,872 100,369 88,749 General and administrative (1)(2)(3)(4)(5)(6)(7) 31,199 26,448 86,309 75,884 Total operating expenses 138,712 122,715 399,732 348,707 Loss from operations (32,570 ) (35,133 ) (100,600 ) (112,399 ) Other income, net 5,294 4,542 15,968 11,866 Loss before provision for income taxes (27,276 ) (30,591 ) (84,632 ) (100,533 ) Provision for income taxes 851 385 2,351 1,318 Net loss (28,127 ) (30,976 ) (86,983 ) (101,851 ) Net loss attributable to redeemable non-controlling interest (216 ) (235 ) (432 ) (962 ) Net loss attributable to Braze, Inc. $ (27,911 ) $ (30,741 ) $ (86,551 ) $ (100,889 ) Net loss per share attributable to Braze, Inc. common stockholders, basic and diluted $ (0.27 ) $ (0.31 ) $ (0.85 ) $ (1.03 ) Weighted-average shares used to compute net loss per share attributable to Braze, Inc. common stockholders, basic and diluted 102,146 97,880 101,714 97,615 (1) Includes stock-based compensation as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of revenue $ 1,003 $ 900 $ 3,045 $ 2,690 Sales and marketing 9,608 7,899 28,945 23,554 Research and development 10,343 9,479 32,623 29,251 General and administrative 7,364 5,761 21,805 17,466 Total stock-based compensation expense $ 28,318 $ 24,039 $ 86,418 $ 72,961 (2) Includes employer taxes related to stock-based compensation as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of revenue $ 42 $ 29 $ 156 $ 81 Sales and marketing 247 245 1,070 609 Research and development 220 199 1,400 721 General and administrative 127 84 567 239 Total employer taxes related to stock-based compensation expense $ 636 $ 557 $ 3,193 $ 1,650 (3) Includes 1% Pledge charitable donation expense as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 General and administrative $ 1,417 $ 1,427 $ 2,764 $ 2,391 (4) Includes acquisition related expense as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 General and administrative $ — $ — $ — $ 1,946 (5) Includes amortization of intangible assets acquired in the acquisition expense as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 General and administrative $ 101 $ 215 $ 459 $ 363 (6) Includes restructuring related expense as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Sales and marketing $ — $ — $ — $ 541 General and administrative — — — $ 103 Total restructuring costs $ — $ — $ — $ 644 (7) Includes adjustment to the fair value of the contingent consideration liability as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 General and administrative $ (86 ) $ — $ (223 ) $ — BRAZE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share amounts) October 31, 2024 January 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 61,312 $ 68,228 Restricted cash, current — 3,373 Accounts receivable, net of allowance of $2,696 and $2,772 at October 31, 2024 and January 31, 2024, respectively 90,299 92,256 Marketable securities 431,258 407,898 Prepaid expenses and other current assets 30,452 29,366 Total current assets 613,321 601,121 Restricted cash, noncurrent 530 530 Property and equipment, net 39,910 29,358 Operating lease right-of-use assets 80,352 81,163 Deferred contract costs 72,388 63,661 Goodwill 28,448 28,448 Intangible assets, net 3,231 3,690 Other assets 3,832 2,970 TOTAL ASSETS $ 842,012 $ 810,941 LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,912 $ 6,321 Accrued expenses and other current liabilities 63,322 63,264 Deferred revenue 223,682 204,269 Operating lease liabilities, current 18,315 15,585 Total current liabilities 308,231 289,439 Operating lease liabilities, noncurrent 73,768 75,027 Other long-term liabilities 2,200 2,050 TOTAL LIABILITIES 384,199 366,516 COMMITMENTS AND CONTINGENCIES (Note 13) Redeemable non-controlling interest (Note 4) (240 ) 192 STOCKHOLDERS’ EQUITY Class A common stock, $0.0001 par value; 2,000,000,000 and 2,000,000,000 shares authorized as of October 31, 2024 and January 31, 2024, respectively; 82,534,449 and 73,037,015 shares issued and outstanding as of October 31, 2024 and January 31, 2024, respectively 8 7 Class B common stock, $0.0001 par value; 110,000,000 and 110,000,000 shares authorized as of October 31, 2024 and January 31, 2024, respectively; 20,296,274 and 27,173,408 shares issued and outstanding as of October 31, 2024 and January 31, 2024, respectively 2 3 Additional paid-in capital 1,027,339 928,494 Accumulated other comprehensive loss 348 (1,178 ) Accumulated deficit (569,644 ) (483,093 ) TOTAL STOCKHOLDERS’ EQUITY 458,053 444,233 TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY $ 842,012 $ 810,941 BRAZE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) Nine Months Ended October 31, 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss (including amounts attributable to redeemable non-controlling interests) $ (86,983 ) $ (101,851 ) Adjustments to reconcile net loss to net cash provided by operating activities: Stock-based compensation 87,184 72,961 Amortization of deferred contract costs 26,004 21,684 Depreciation and amortization 7,368 5,082 Provision for credit losses 2,157 1,717 Value of common stock donated to charity 2,764 2,391 (Accretion) amortization of (discount) premium on marketable securities (1,605 ) 1,579 Non-cash foreign exchange loss (802 ) 473 Fair value adjustments to contingent consideration (223 ) — Fixed asset write offs 436 128 Other 1 8 Changes in operating assets and liabilities: Accounts receivable (227 ) 7,269 Prepaid expenses and other current assets (1,365 ) 1,946 Deferred contract costs (34,764 ) (32,609 ) ROU assets and liabilities 2,123 1,903 Other assets (506 ) (324 ) Accounts payable (3,326 ) 2,859 Accrued expenses and other current liabilities 2,105 9,321 Deferred revenue 19,517 8,363 Other long-term liabilities (261 ) 129 Net cash provided by operating activities 19,597 3,029 CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for acquisition, net of cash acquired — (16,319 ) Purchases of property and equipment (12,147 ) (3,439 ) Capitalized internal-use software costs (3,023 ) (2,536 ) Purchases of marketable securities (179,545 ) (191,922 ) Maturities of marketable securities 159,086 194,737 Net cash used in investing activities (35,629 ) (19,479 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of common stock options 3,682 5,949 Proceeds from stock associated with employee stock purchase plan 4,752 3,222 Payments of deferred purchase consideration (2,916 ) (165 ) Net cash provided by financing activities 5,518 9,006 Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash 225 (806 ) Net change in cash, cash equivalents, and restricted cash (10,289 ) (8,250 ) Cash, cash equivalents, and restricted cash, beginning of period 72,131 72,623 Cash, cash equivalents, and restricted cash, end of period $ 61,842 $ 64,373 BRAZE, INC. U.S. GAAP RECONCILIATION OF NON-GAAP ADJUSTED RESULTS (in thousands, except per share amounts) The following tables reconcile each non-GAAP financial measure to its most directly comparable GAAP financial measure: Reconciliation of GAAP to Non-GAAP Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Gross profit $ 106,142 $ 87,582 $ 299,132 $ 236,308 Plus: Stock-based compensation expense 1,003 900 3,045 2,690 Employer taxes related to stock-based compensation expense 42 29 156 81 Non-GAAP gross profit $ 107,187 $ 88,511 $ 302,333 $ 239,079 GAAP gross margin 69.8 % 70.7 % 69.1 % 69.3 % Non-GAAP gross margin 70.5 % 71.4 % 69.8 % 70.1 % Reconciliation of GAAP to Non-GAAP Operating Expenses Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 GAAP sales and marketing expense $ 74,658 $ 66,395 $ 213,054 $ 184,074 Less: Stock-based compensation expense 9,608 7,899 28,945 23,554 Employer taxes related to stock-based compensation expense 247 245 1,070 609 Restructuring expense — — — 541 Non-GAAP sales and marketing expense $ 64,803 $ 58,251 $ 183,039 $ 159,370 GAAP research and development expense $ 32,855 $ 29,872 $ 100,369 $ 88,749 Less: Stock-based compensation expense 10,343 9,479 32,623 29,251 Employer taxes related to stock-based compensation expense 220 199 1,400 721 Non-GAAP research and development expense $ 22,292 $ 20,194 $ 66,346 $ 58,777 GAAP general and administrative expense $ 31,199 $ 26,448 $ 86,309 $ 75,884 Less: Stock-based compensation expense 7,364 5,761 21,805 17,466 Employer taxes related to stock-based compensation expense 127 84 567 239 1% Pledge charitable contribution expense 1,417 1,427 2,764 2,391 Acquisition related expense — — — 1,946 Amortization of intangibles expense 101 215 459 363 Restructuring expense — — — 103 Contingent consideration adjustment (86 ) — (223 ) — Non-GAAP general and administrative expense $ 22,276 $ 18,961 $ 60,937 $ 53,376 Reconciliation of GAAP to Non-GAAP Operating Loss Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Loss from operations $ (32,570 ) $ (35,133 ) $ (100,600 ) $ (112,399 ) Plus: Stock-based compensation expense 28,318 24,039 86,418 72,961 Employer taxes related to stock-based compensation expense 636 557 3,193 1,650 1% Pledge charitable contribution expense 1,417 1,427 2,764 2,391 Acquisition related expense — — — 1,946 Amortization of intangibles expense 101 215 459 363 Restructuring expense — — — 644 Contingent consideration adjustment (86 ) — (223 ) — Non-GAAP loss from operations $ (2,184 ) $ (8,895 ) $ (7,989 ) $ (32,444 ) GAAP operating margin (21.4 )% (28.3 )% (23.2 )% (33.0 )% Non-GAAP operating margin (1.4 )% (7.2 )% (1.8 )% (9.5 )% Reconciliation of GAAP to Non-GAAP Net Income (Loss) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Net loss attributable to Braze, Inc. $ (27,911 ) $ (30,741 ) $ (86,551 ) $ (100,889 ) Plus: Stock-based compensation expense 28,318 24,039 86,418 72,961 Employer taxes related to stock-based compensation expense 636 557 3,193 1,650 1% Pledge charitable contribution expense 1,417 1,427 2,764 2,391 Acquisition related expense — — — 1,946 Amortization of intangibles expense 101 215 459 363 Restructuring expense — — — 644 Contingent consideration adjustment (86 ) — (223 ) — Non-GAAP net income (loss) attributable to Braze, Inc. (1) $ 2,475 $ (4,503 ) $ 6,060 $ (20,934 ) Non-GAAP net income (loss) per share attributable to Braze, Inc. common stockholders, basic $ 0.02 $ (0.05 ) $ 0.06 $ (0.21 ) Non-GAAP net income (loss) per share attributable to Braze, Inc. common stockholders, diluted $ 0.02 $ (0.05 ) $ 0.06 $ (0.21 ) Weighted-average shares used to compute net income (loss) per share attributable to Braze, Inc. common stockholders, basic 102,146 97,880 101,714 97,615 Weighted-average shares used to compute net income (loss) per share attributable to Braze, Inc. common stockholders, diluted 106,820 97,880 106,614 97,615 (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. Reconciliation of GAAP Cash Flow from Operating Activities to Non-GAAP Free Cash Flow Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Net cash provided by/(used in) operating activities $ (11,410 ) $ (2,003 ) $ 19,597 $ 3,029 Less: Purchases of property and equipment (1,923 ) (3,012 ) (12,147 ) (3,439 ) Capitalized internal-use software costs (915 ) (896 ) (3,023 ) (2,536 ) Non-GAAP free cash flow $ (14,248 ) $ (5,911 ) $ 4,427 $ (2,946 ) Source: Braze, Inc. Braze is a registered trademark of Braze, Inc. All product and company names herein may be trademarks of their registered owners. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209508572/en/ CONTACT: Investors: Christopher Ferris IR@braze.com (609) 964-0585Media: Meghan Halaszynski Press@braze.com KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY MARKETING ADVERTISING COMMUNICATIONS SOFTWARE NETWORKS INTERNET DIGITAL MARKETING DATA MANAGEMENT ARTIFICIAL INTELLIGENCE SOURCE: Braze Copyright Business Wire 2024. PUB: 12/09/2024 04:05 PM/DISC: 12/09/2024 04:06 PM http://www.businesswire.com/news/home/20241209508572/en

Relief, defiance, anger: Families and advocates react to Biden's death row commutations

On Dec. 11, 2024, the bicameral conference committee (House of Representatives and the Senate) approved the final version of the proposed P6.352-trillion 2025 national budget. Leaders of both legislative houses praised the 2025 budget, which is roughly a 10 percent increase of the 2024 budget, as the “...most important legislation passed annually by Congress...” said Senate President Francis Escudero. He stressed that the huge budget for next year underscores “the crucial role of the budget in shaping the nation’s priorities; highlighting the principle of balancing additions and cuts.” Escudero added that next year’s budget aligns with President Marcos’ plans. In a classic statement of support to PBBM, Escudero claims that “it is only right for Congress to support President BBM’s plans.” However, he explained that it was not a matter of “blind adherence” to presidential wishes, but a “recognition of the overwhelming electoral mandate given to him by over 31 million voters.” For her part, Sen. Grace Poe, chair of the Senate finance panel, lauded the passage of the 2025 budget in the bicameral body, saying that the budget “reflects significant increases in funding priority sectors like social protection, education, health, livelihood, disaster response ... and that these increases demonstrate the government’s commitment to uplifting vulnerable sectors and investing in the nation’s future.” Hearing these remarks can make anyone feel confident that the government has already factored in much-needed expenditures that will allow all Filipinos access to basic social services (education and health), and that marginalized and vulnerable sectors of the population will be provided opportunities for them to be uplifted from the dire situation they are in. However, government laws that outline how national budgets are spent are not implemented in a political vacuum. Laws, including the republic acts that govern how the annual national budgets are spent, are not implemented on their own; the whole gamut of processes and procedures implementing a national budget includes both legal and political structures and the people that run these. And herein lies the complicated budgetary implementation process, leading to possible anomalies and in some cases to allegations of plunder, as what some politicians have been accused of doing as the signing authority in the disbursement of public funds. More than 18 million are living below the poverty line, or not able to feed their families, let alone provide expenses for clothing and maintaining good health among their family members. The Universal Health Care Act or Republic Act No. 11223 is a safeguard for the vulnerable members of the Philippine population for them to receive much-needed quality health care services. Former president Rodrigo Duterte signed the Universal Health Care Act on Feb. 20, 2019. It aims to “progressively realize universal health care in the country, ensuring that all Filipinos are guaranteed equitable access to quality and affordable health care goods and services and that such services are protected from financial risks.” Yet, such a safeguard might no longer be available if the President chooses to approve the 2025 budget as it has been approved by the two legislative bodies. This is because the Philippine Health Insurance Corp. or PhilHealth will be defunded, at a zero budget. The reason: according to Health Secretary Teodoro J. Herbosa, PhilHealth is “awash” with funds, and therefore it can support the health needs of Filipinos. Thus, he has proposed that PhilHealth divert its billions of pesos to the National Treasury. However, as the members of the Philippine Medical Association have noted, through their president, Dr. Hector Santos, doctors might disengage with PhilHealth due to its zero subsidy from the government and might make it worse for impoverished Filipinos to bear the cost of expensive hospital bills since they cannot afford to pay the counterpart costs of the medical bills. Santos added that the zero subsidy for the government’s health insurer might also prolong the payment to health service providers or hospitals, thus making them wary of treating patients who cannot afford quality medical care, as provided for in RA 11223. Impoverished patients are marginalized in their access to health care provided by hospitals since they are denied admission if they cannot present cash or proof of being a member of a health care plan. I have seen this happen many times, since I had been subjected to the same “policy” at hospitals here in General Santos City. With this new budget that defunds the government health insurer, is the national government once again affirming that quality of health care is good only for the privileged few rich people? —————- Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Comments to rcquiam@gmail.com

A Portland program that aims to protect low-income residents during dangerous heat waves will undergo a massive expansion after city leaders Tuesday authorized an additional $10.3 million in funding. The Cooling Portland initiative now plans to distribute 25,000 portable air conditioners and heat-pump-cooling-unit combos to vulnerable city dwellers free of charge by the end of 2026, up from an initial goal of 15,000.

Meta to build $10 billion AI data center in LouisianaBOGOTÁ, Colombia (AP) — One of Colombia’s legendary drug lords and a key operator of the Medellin cartel has been deported back to the South American country, after serving 25 years of a 30-year prison sentence in the United States. A short while later, Fabio Ochoa was again a free man. Ochoa arrived in Bogota’s El Dorado airport on a deportation flight on Monday, wearing a grey sweatshirt and carrying his personal belongings in a plastic bag. After stepping out of the plane, the former cartel boss was met by immigration officials in bullet proof vests. There were no police on site to detain him. Colombia’s national immigration agency promptly posted a brief statement on the social media platform X, saying Ochoa was “freed so that he could join his family” after immigration officials took his fingerprints and confirmed through a database that he is not wanted by Colombian authorities. Ochoa, 67, and his older brothers amassed a fortune when cocaine started flooding the U.S. in the late 1970s and early 1980s, according to U.S. authorities, to the point that in 1987 they were included in the Forbes Magazine’s list of billionaires. Living in Miami, Ochoa ran a distribution center for the cocaine cartel once headed by Pablo Escobar . Escobar died in a shootout with authorities in Medellin in 1993. Ochoa was first indicted in the U.S. for his alleged role in the 1986 killing of Barry Seal, an American pilot who flew cocaine flights for the Medellin cartel, but became an informant for the Drug Enforcement Administration. Along with his two older brothers, Juan David and Jorge Luis, Ochoa turned himself in to Colombian authorities in the early 1990s under a deal in which they avoided being extradited to the U.S. The three brothers were released from prison in 1996, but Ochoa was arrested again three years later for drug trafficking and was extradited to the U.S. in 2001 in response to an indictment in Miami naming him and more than 40 people as part of a drug smuggling conspiracy. He was the only suspect in that group who opted to go to trial, resulting in his conviction and a 30-year sentence. The other defendants got much lighter prison terms because most of them cooperated with the government. Ochoa’s name has faded from popular memory as Mexican drug traffickers take center stage in the global drug trade. But the former member of the Medellin cartel was recently depicted in the Netflix series Griselda, where he first fights the plucky businesswoman Griselda Blanco for control of Miami’s cocaine market, and then makes an alliance with the drug trafficker, played by Sofia Vergara. Ochoa is also depicted in the Netflix series Narcos, as the youngest son of an elite Medellin family that is into ranching and horse breeding and cuts a sharp contrast with Escobar, who came from more humble roots. Richard Gregorie, a retired assistant U.S. attorney who was on the prosecution team that convicted Ochoa, said authorities were never able to seize all of the Ochoa family’s illicit drug proceeds and he expects that the former mafia boss will have a welcome return home. “He won’t be retiring a poor man, that’s for sure,” Gregorie told The Associated Press earlier this month.