--- title: "Braze dropped 19% on a 26% growth quarter, then AWS put its sellers behind it" description: "Amazon's sales force now has incentives to pitch Braze, and customers can buy it against existing AWS commitments. The stock has climbed about 18% since September 9 on a deal that carries no disclosed revenue figure." publisher: "The Inference" section: "Platforms" published: 2026-10-10T21:20:38.947Z modified: 2026-10-10T21:20:38.947Z canonical: https://theinference.org/article/braze-dropped-19-on-a-26-growth-quarter-then-aws-put-its-sellers-behind-it language: en keywords: "Braze, AWS, SaaS, Stocks, Enterprise Software" --- # Braze dropped 19% on a 26% growth quarter, then AWS put its sellers behind it > Amazon's sales force now has incentives to pitch Braze, and customers can buy it against existing AWS commitments. The stock has climbed about 18% since September 9 on a deal that carries no disclosed revenue figure. ## A beat got sold and a deal got bought On September 9, [Braze](https://theinference.org/markets/companies/braze) [reported revenue of $227.2 million for the quarter ended July 31](https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx), up 26.2% year over year and ahead of the $220.3 million consensus [2][7]. The stock fell 18.9% that day, to $24.54, punished by a third-quarter profit forecast that came in light [3]. Three weeks later, at a Las Vegas customer conference, the company [signed a strategic collaboration agreement with Amazon Web Services](https://www.businesswire.com/news/home/20260929120164/en/), and the shares jumped 9.4% in a single session [1][4]. By October 9 the stock closed at $29.06, roughly 18% above its September 9 close and still about 20% below its December 2025 high of $36.19 [9][4]. ## The product is Amazon's sales force The agreement, announced September 29 at Forge, integrates [Amazon](https://theinference.org/markets/companies/amazon) Bedrock into BrazeAI Agent Console, [Braze](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001676238)'s agent orchestration layer [1]. The money is in distribution, not models. Braze's own earnings release describes a three-year construct that unlocks a dedicated co-sell motion and incentives for AWS sellers to bring Braze into their accounts [2]. Customers can buy Braze through AWS Marketplace against existing AWS commitments; Braze says Marketplace procurement grew more than 80% year over year, and that the first half of this fiscal year transacted more than all of fiscal 2025 [1]. ## Same growth, opposite stock years [Klaviyo](https://theinference.org/markets/companies/klaviyo), a rival engagement platform, posted the same 26% revenue growth this quarter and raised full-year guidance, yet its shares were down 51% year to date as of September 18, while Braze's were down 27% and Similarweb, growing 9%, was up 11% [6]. Wall Street stopped paying for Braze's growth rate and started paying for Amazon's address book. *Chart: **Same 26% growth, opposite years: Klaviyo fell twice as hard as Braze** Column chart of year-to-date share performance: Braze down 27 percent, Klaviyo down 51 percent, Similarweb up 11 percent* *Year-to-date share price change as of September 18, 2026. Braze and Klaviyo both grew revenue 26% year over year in their latest quarters. Source: MarketBeat via Yahoo Finance. [6]* ## The quarter that got sold *Chart: **Braze revenue growth sank to 19.6% in fiscal 2025, then rebuilt to 26% into the AWS deal** Line chart of Braze quarterly revenue from $135 million to $227 million over ten fiscal quarters* *Quarterly GAAP revenue, Braze fiscal quarters (fiscal year ends January 31), periods ending April 2024 through July 2026. Source: Braze SEC filings. [8]* The numbers beneath the re-rating: 112% net retention among customers above $500,000 in annual recurring revenue, [record second-quarter free cash flow of $21.7 million](https://www.streetinsider.com/Analyst+Comments/Braze+%28BRZE%29+Reiterated+at+Market+Outperform+by+Citizens+After+Better-Than-Expected+Results/27038270.html), and BrazeAI Decisioning Studio billing $6.6 million, up 136% year over year, per Citizens [2][7]. The platform processed 25.8 trillion data points and 10.2 trillion API calls in calendar 2025, figures Braze reports as unaudited operational data [1]. ## No revenue number attached Neither company attached a revenue figure to the agreement. Full-year guidance rose to $910 million to $913 million, from $895 million to $899 million, about 2% at the midpoint [2][9]. Raymond James raised its target to $33 after the September sell-off and called the platform a secular winner [3]; Cantor Fitzgerald holds $38 and Citizens $35 [4][7]. Needham's Scott Berg, who [named Braze a top end-of-year software pick](https://finance.yahoo.com/technology/articles/needham-names-top-saas-picks-161032003.html), argues [Meta](https://theinference.org/markets/companies/meta)'s Enterprise Platform never competed with vendors like it in the first place [5]. ## Watch the Marketplace line The December-quarter report is the test: whether Marketplace momentum holds under the agreement, and whether organic growth, 24.4% against 26.2% reported, closes the gap left by the OfferFit acquisition [7]. Bundesliga is the showcase customer [1]. If Amazon's sellers are moving product, it shows up in Marketplace first. ## Takeaway Braze got sold for the same 26% growth it was punished for, because the AWS agreement trades model integration for distribution: three years of co-sell incentives and Marketplace procurement, with the December-quarter report as the first real test. ## Sources 1. [Business Wire, Braze Signs Strategic Collaboration Agreement with AWS to Advance AI-Powered Customer Engagement, 29 September 2026](https://www.businesswire.com/news/home/20260929120164/en/) 2. [Braze investor relations, Braze Reports Strong Fiscal Second Quarter 2027 Results, 8 September 2026](https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx) 3. [StockStory via MSN, Braze (BRZE) stock trades down, here is why, 9 September 2026](https://www.msn.com/en-us/money/other/braze-brze-stock-trades-down-here-is-why/ar-AA2bTUDD) 4. [StockStory via Yahoo Finance, Braze (BRZE) Shares Skyrocket, What You Need To Know, 30 September 2026](https://finance.yahoo.com/markets/stocks/articles/braze-brze-shares-skyrocket-know-232513251.html) 5. [Investing.com via Yahoo Finance, Needham names top SaaS picks amid Meta Enterprise Platform concerns, 30 September 2026](https://finance.yahoo.com/technology/articles/needham-names-top-saas-picks-161032003.html) 6. [MarketBeat via Yahoo Finance, Braze Beat Expectations, Now 2 SaaS Peers Are in Focus, 18 September 2026](https://finance.yahoo.com/technology/articles/braze-beat-expectations-now-2-142000098.html) 7. [StreetInsider, Braze (BRZE) Reiterated at Market Outperform by Citizens After Better-Than-Expected Results, 9 September 2026](https://www.streetinsider.com/Analyst+Comments/Braze+%28BRZE%29+Reiterated+at+Market+Outperform+by+Citizens+After+Better-Than-Expected+Results/27038270.html) 8. [Braze, quarterly figures from its SEC filings, retrieved 10 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001676238) 9. [StockTitan, Braze (BRZE) Stock News and Updates, retrieved 10 October 2026](https://www.stocktitan.net/news/BRZE/) --- Braze dropped 19% on a 26% growth quarter, then AWS put its sellers behind it — The Inference. Canonical: https://theinference.org/article/braze-dropped-19-on-a-26-growth-quarter-then-aws-put-its-sellers-behind-it