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Side-by-side financial comparison of Braze, Inc. (BRZE) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
Braze, Inc. is the larger business by last-quarter revenue ($190.8M vs $188.4M, roughly 1.0× FTAI Infrastructure Inc.). Braze, Inc. runs the higher net margin — -18.9% vs -79.7%, a 60.9% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (95.9% vs 25.5%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (49.0% CAGR vs 20.7%).
Braze, Inc. is an American cloud-based software company based in New York City. It is a customer engagement platform used by businesses for multichannel marketing.
FTAI Infrastructure Inc. owns, operates and invests in high-quality critical infrastructure assets across core sectors including transportation logistics, midstream energy, and power generation. It primarily serves North American markets, focusing on assets with stable long-term cash flows, contracted revenue streams, and strong market positions to deliver sustainable returns for stakeholders.
BRZE vs FIP — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $190.8M | $188.4M |
| Net Profit | $-36.0M | $-150.2M |
| Gross Margin | 67.2% | — |
| Operating Margin | -19.7% | — |
| Net Margin | -18.9% | -79.7% |
| Revenue YoY | 25.5% | 95.9% |
| Net Profit YoY | -29.0% | -387.6% |
| EPS (diluted) | $-0.33 | $-1.32 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $188.4M | ||
| Q4 25 | $190.8M | $143.5M | ||
| Q3 25 | $180.1M | $140.6M | ||
| Q2 25 | $162.1M | $122.3M | ||
| Q1 25 | $160.4M | $96.2M | ||
| Q4 24 | $152.1M | $80.8M | ||
| Q3 24 | $145.5M | $83.3M | ||
| Q2 24 | $135.5M | $84.9M |
| Q1 26 | — | $-150.2M | ||
| Q4 25 | $-36.0M | $-97.7M | ||
| Q3 25 | $-27.9M | $-104.5M | ||
| Q2 25 | $-35.8M | $-70.0M | ||
| Q1 25 | $-17.2M | $120.2M | ||
| Q4 24 | $-27.9M | $-124.7M | ||
| Q3 24 | $-23.0M | $-43.0M | ||
| Q2 24 | $-35.6M | $-48.1M |
| Q1 26 | — | — | ||
| Q4 25 | 67.2% | — | ||
| Q3 25 | 67.7% | — | ||
| Q2 25 | 68.6% | — | ||
| Q1 25 | 69.3% | — | ||
| Q4 24 | 69.8% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 67.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | -19.7% | -45.7% | ||
| Q3 25 | -21.5% | -70.8% | ||
| Q2 25 | -24.8% | -56.4% | ||
| Q1 25 | -13.4% | 81.8% | ||
| Q4 24 | -21.4% | -152.7% | ||
| Q3 24 | -19.2% | -51.7% | ||
| Q2 24 | -29.6% | -56.4% |
| Q1 26 | — | -79.7% | ||
| Q4 25 | -18.9% | -68.1% | ||
| Q3 25 | -15.5% | -74.4% | ||
| Q2 25 | -22.1% | -57.2% | ||
| Q1 25 | -10.7% | 125.0% | ||
| Q4 24 | -18.4% | -154.4% | ||
| Q3 24 | -15.8% | -51.6% | ||
| Q2 24 | -26.3% | -56.7% |
| Q1 26 | — | $-1.32 | ||
| Q4 25 | $-0.33 | $-1.04 | ||
| Q3 25 | $-0.26 | $-1.38 | ||
| Q2 25 | $-0.34 | $-0.73 | ||
| Q1 25 | $-0.17 | $0.89 | ||
| Q4 24 | $-0.27 | $-1.21 | ||
| Q3 24 | $-0.23 | $-0.45 | ||
| Q2 24 | $-0.35 | $-0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $97.8M | $37.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $602.0M | $-122.5K |
| Total Assets | $1.0B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $37.9M | ||
| Q4 25 | $97.8M | $57.4M | ||
| Q3 25 | $81.0M | $34.7M | ||
| Q2 25 | $231.5M | $33.6M | ||
| Q1 25 | $83.1M | $26.3M | ||
| Q4 24 | $61.3M | $27.8M | ||
| Q3 24 | $79.1M | $20.3M | ||
| Q2 24 | $74.8M | $33.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | — | $-122.5K | ||
| Q4 25 | $602.0M | $21.3M | ||
| Q3 25 | $598.9M | $181.1M | ||
| Q2 25 | $474.4M | $375.5M | ||
| Q1 25 | $474.9M | $476.2M | ||
| Q4 24 | $458.1M | $202.7M | ||
| Q3 24 | $453.7M | $370.8M | ||
| Q2 24 | $436.1M | $394.8M |
| Q1 26 | — | $5.7B | ||
| Q4 25 | $1.0B | $5.7B | ||
| Q3 25 | $1.0B | $5.5B | ||
| Q2 25 | $889.1M | $4.4B | ||
| Q1 25 | $871.0M | $4.1B | ||
| Q4 24 | $842.0M | $2.4B | ||
| Q3 24 | $825.6M | $2.4B | ||
| Q2 24 | $816.1M | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $21.0M | $-69.4M |
| Free Cash FlowOCF − Capex | $19.0M | — |
| FCF MarginFCF / Revenue | 10.0% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $63.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-69.4M | ||
| Q4 25 | $21.0M | $-2.8M | ||
| Q3 25 | $7.0M | $-24.4M | ||
| Q2 25 | $24.1M | $-5.2M | ||
| Q1 25 | $17.1M | $-85.7M | ||
| Q4 24 | $-11.4M | $-8.1M | ||
| Q3 24 | $11.6M | $14.2M | ||
| Q2 24 | $19.4M | $-17.6M |
| Q1 26 | — | — | ||
| Q4 25 | $19.0M | $-68.6M | ||
| Q3 25 | $4.3M | $-90.7M | ||
| Q2 25 | $23.9M | $-87.5M | ||
| Q1 25 | $16.0M | $-151.7M | ||
| Q4 24 | $-13.3M | $-34.3M | ||
| Q3 24 | $8.3M | $-11.7M | ||
| Q2 24 | $12.5M | $-32.1M |
| Q1 26 | — | — | ||
| Q4 25 | 10.0% | -47.8% | ||
| Q3 25 | 2.4% | -64.5% | ||
| Q2 25 | 14.8% | -71.6% | ||
| Q1 25 | 10.0% | -157.7% | ||
| Q4 24 | -8.8% | -42.4% | ||
| Q3 24 | 5.7% | -14.0% | ||
| Q2 24 | 9.2% | -37.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 45.9% | ||
| Q3 25 | 1.4% | 47.2% | ||
| Q2 25 | 0.1% | 67.3% | ||
| Q1 25 | 0.7% | 68.6% | ||
| Q4 24 | 1.3% | 32.5% | ||
| Q3 24 | 2.3% | 31.1% | ||
| Q2 24 | 5.1% | 17.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRZE
| Subscription Revenue | $181.7M | 95% |
| Professional Services Revenue | $9.2M | 5% |
FIP
Segment breakdown not available.
