How do Braze, Inc. and PTC Inc. compare by revenue?

Braze, Inc. reported revenue of $190.8M in Q3 2026, while PTC Inc. reported $685.8M in Q1 2026. PTC Inc. is 3.6× larger by last-quarter revenue.

Which is growing revenue faster, Braze, Inc. or PTC Inc.?

Braze, Inc.'s latest revenue grew 25.5% year-over-year, versus 21.4% for PTC Inc.. Braze, Inc. is growing faster on a YoY basis.

Which has a higher gross margin, Braze, Inc. or PTC Inc.?

Braze, Inc.'s gross margin is 67.2% vs PTC Inc.'s 82.8%. PTC Inc. converts more of each revenue dollar into gross profit.

Which has a higher net margin, Braze, Inc. or PTC Inc.?

Braze, Inc.'s net margin is -18.9% vs PTC Inc.'s 24.3%. PTC Inc. has the higher bottom-line margin.

Which generates more free cash flow, Braze, Inc. or PTC Inc.?

Braze, Inc. generated $19.0M of free cash flow last quarter, versus $267.4M for PTC Inc.. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for Braze, Inc. vs PTC Inc.?

Over the trailing 8 quarters, Braze, Inc. compounded revenue at roughly 20.7% per year, versus 6.6% for PTC Inc.. Braze, Inc. has the faster medium-term growth trajectory.

Where does this BRZE vs PTC data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Braze, Inc. (BRZE) and PTC Inc. (PTC), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.

PTC Inc. is the larger business by last-quarter revenue ($685.8M vs $190.8M, roughly 3.6× Braze, Inc.). PTC Inc. runs the higher net margin — -18.9% vs 24.3%, a 43.1% gap on every dollar of revenue. On growth, Braze, Inc. posted the faster year-over-year revenue change (25.5% vs 21.4%). PTC Inc. produced more free cash flow last quarter ($267.4M vs $19.0M). Over the past eight quarters, Braze, Inc.'s revenue compounded faster (20.7% CAGR vs 6.6%).

Braze, Inc.BRZEEarnings & Financial Report

Nasdaq · software industry

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.

PTC Inc.PTCEarnings & Financial Report

Nasdaq · Information Technology · software industry

PTC Inc. is an American computer software and services company founded in 1985 and headquartered in Boston, Massachusetts. The company was a pioneer in parametric, associative feature-based, solid computer-aided design (CAD) modeling software in 1988, including an Internet-based product for Product Lifecycle Management (PLM) in 1998. PTC markets products and services and an Internet of Things (IoT) and augmented reality (AR) platform for partners and developers.

BRZE vs PTC — Head-to-Head

Bigger by revenue

PTC

3.6× larger

$685.8M

$190.8M

Growing faster (revenue YoY)

BRZE

+4.2% gap

25.5%

21.4%

Higher net margin

PTC

43.1% more per $

24.3%

-18.9%

More free cash flow

PTC

$248.4M more FCF

$267.4M

$19.0M

Faster 2-yr revenue CAGR

BRZE

Annualised

20.7%

6.6%

Income Statement — Q3 2026 vs Q1 2026

Metric	BRZE	PTC
Revenue	$190.8M	$685.8M
Net Profit	$-36.0M	$166.5M
Gross Margin	67.2%	82.8%
Operating Margin	-19.7%	32.2%
Net Margin	-18.9%	24.3%
Revenue YoY	25.5%	21.4%
Net Profit YoY	-29.0%	102.5%
EPS (diluted)	$-0.33	$1.39

Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.

Revenue

BRZE

PTC

Q4 25	$190.8M	$685.8M
Q3 25	$180.1M	$893.8M
Q2 25	$162.1M	$643.9M
Q1 25	$160.4M	$636.4M
Q4 24	$152.1M	$565.1M
Q3 24	$145.5M	$626.5M
Q2 24	$135.5M	$518.6M
Q1 24	$131.0M	$603.1M

Net Profit

BRZE

PTC

Q4 25	$-36.0M	$166.5M
Q3 25	$-27.9M	$347.8M
Q2 25	$-35.8M	$141.3M
Q1 25	$-17.2M	$162.6M
Q4 24	$-27.9M	$82.2M
Q3 24	$-23.0M	$126.5M
Q2 24	$-35.6M	$69.0M
Q1 24	$-28.3M	$114.4M

Gross Margin

BRZE

PTC

Q4 25	67.2%	82.8%
Q3 25	67.7%	86.9%
Q2 25	68.6%	82.9%
Q1 25	69.3%	83.3%
Q4 24	69.8%	80.2%
Q3 24	70.2%	82.0%
Q2 24	67.1%	78.4%
Q1 24	67.2%	81.8%

Operating Margin

BRZE

PTC

Q4 25	-19.7%	32.2%
Q3 25	-21.5%	48.5%
Q2 25	-24.8%	32.6%
Q1 25	-13.4%	35.1%
Q4 24	-21.4%	20.4%
Q3 24	-19.2%	31.0%
Q2 24	-29.6%	18.5%
Q1 24	-24.7%	29.8%

Net Margin

BRZE

PTC

Q4 25	-18.9%	24.3%
Q3 25	-15.5%	38.9%
Q2 25	-22.1%	21.9%
Q1 25	-10.7%	25.6%
Q4 24	-18.4%	14.6%
Q3 24	-15.8%	20.2%
Q2 24	-26.3%	13.3%
Q1 24	-21.6%	19.0%

EPS (diluted)

BRZE

PTC

Q4 25	$-0.33	$1.39
Q3 25	$-0.26	$2.88
Q2 25	$-0.34	$1.17
Q1 25	$-0.17	$1.35
Q4 24	$-0.27	$0.68
Q3 24	$-0.23	$1.05
Q2 24	$-0.35	$0.57
Q1 24	$-0.28	$0.95

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.

Metric	BRZE	PTC
Cash + ST InvestmentsLiquidity on hand	$97.8M	$209.7M
Total DebtLower is stronger	—	$1.2B
Stockholders' EquityBook value	$602.0M	$3.8B
Total Assets	$1.0B	$6.4B
Debt / EquityLower = less leverage	—	0.31×

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Cash + ST Investments

BRZE

PTC

Q4 25	$97.8M	$209.7M
Q3 25	$81.0M	$184.4M
Q2 25	$231.5M	$199.3M
Q1 25	$83.1M	$235.2M
Q4 24	$61.3M	$196.3M
Q3 24	$79.1M	$265.8M
Q2 24	$74.8M	$247.7M
Q1 24	$68.2M	$249.0M

Total Debt

BRZE

PTC

Q4 25	—	$1.2B
Q3 25	—	$1.2B
Q2 25	—	$1.2B
Q1 25	—	$1.4B
Q4 24	—	$1.0B
Q3 24	—	$1.2B
Q2 24	—	$1.3B
Q1 24	—	$1.5B

Stockholders' Equity

BRZE

PTC

Q4 25	$602.0M	$3.8B
Q3 25	$598.9M	$3.8B
Q2 25	$474.4M	$3.5B
Q1 25	$474.9M	$3.4B
Q4 24	$458.1M	$3.2B
Q3 24	$453.7M	$3.2B
Q2 24	$436.1M	$3.0B
Q1 24	$444.2M	$2.9B

Total Assets

BRZE

PTC

Q4 25	$1.0B	$6.4B
Q3 25	$1.0B	$6.6B
Q2 25	$889.1M	$6.2B
Q1 25	$871.0M	$6.2B
Q4 24	$842.0M	$6.1B
Q3 24	$825.6M	$6.4B
Q2 24	$816.1M	$6.1B
Q1 24	$810.9M	$6.2B

Debt / Equity

BRZE

PTC

Q4 25	—	0.31×
Q3 25	—	0.31×
Q2 25	—	0.34×
Q1 25	—	0.40×
Q4 24	—	0.32×
Q3 24	—	0.38×
Q2 24	—	0.43×
Q1 24	—	0.51×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.

Metric	BRZE	PTC
Operating Cash FlowLast quarter	$21.0M	$269.7M
Free Cash FlowOCF − Capex	$19.0M	$267.4M
FCF MarginFCF / Revenue	10.0%	39.0%
Capex IntensityCapex / Revenue; lower = less reinvestment burden	1.0%	0.3%
Cash ConversionOCF / Net Profit; >1× = earnings back up with cash	—	1.62×
TTM Free Cash FlowTrailing 4 quarters	$63.3M	$888.4M

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Operating Cash Flow

BRZE

PTC

Q4 25	$21.0M	$269.7M
Q3 25	$7.0M	$104.0M
Q2 25	$24.1M	$243.9M
Q1 25	$17.1M	$281.3M
Q4 24	$-11.4M	$238.4M
Q3 24	$11.6M	$98.1M
Q2 24	$19.4M	$213.8M
Q1 24	$3.8M	$250.7M

Free Cash Flow

BRZE

PTC

Q4 25	$19.0M	$267.4M
Q3 25	$4.3M	$100.5M
Q2 25	$23.9M	$242.0M
Q1 25	$16.0M	$278.5M
Q4 24	$-13.3M	$235.7M
Q3 24	$8.3M	$93.6M
Q2 24	$12.5M	$212.2M
Q1 24	$-2.5M	$247.1M

FCF Margin

BRZE

PTC

Q4 25	10.0%	39.0%
Q3 25	2.4%	11.2%
Q2 25	14.8%	37.6%
Q1 25	10.0%	43.8%
Q4 24	-8.8%	41.7%
Q3 24	5.7%	14.9%
Q2 24	9.2%	40.9%
Q1 24	-1.9%	41.0%

Capex Intensity

BRZE

PTC

Q4 25	1.0%	0.3%
Q3 25	1.4%	0.4%
Q2 25	0.1%	0.3%
Q1 25	0.7%	0.4%
Q4 24	1.3%	0.5%
Q3 24	2.3%	0.7%
Q2 24	5.1%	0.3%
Q1 24	4.8%	0.6%

Cash Conversion

BRZE

PTC

Q4 25	—	1.62×
Q3 25	—	0.30×
Q2 25	—	1.73×
Q1 25	—	1.73×
Q4 24	—	2.90×
Q3 24	—	0.78×
Q2 24	—	3.10×
Q1 24	—	2.19×

Financial Flow Comparison

Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.