We compute the basic and diluted net loss per share of our Class A common stock and Class B common stock. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share in the Company’s net loss.

The following table sets forth the computation of basic and diluted net loss per share attributable to Braze, Inc. common stockholders during the periods presented (in thousands, except per share amounts):


	Three Months Ended July 31,				Six Months Ended July 31,
	2025		2024		2025		2024
Numerator:
Net loss attributable to Braze, Inc.	$	(27,899)	$	(22,999)	$	(63,685)	$	(58,640)
Denominator:
Weighted-average shares used to calculate net loss per share attributable to Braze, Inc. common stockholders, basic and diluted	106,807		101,449		105,858		101,239
Net loss per share attributable to Braze, Inc. common stockholders, basic and diluted	$	(0.26)	$	(0.23)	$	(0.60)	$	(0.58)

The following outstanding shares of potentially dilutive securities have been excluded from diluted net loss per share attributable to Braze, Inc. common stockholders for the periods presented, because their inclusion would be anti-dilutive (in thousands):


	Three Months Ended July 31,		Six Months Ended July 31,
	2025	2024	2025	2024
Replacement shares issued in connection with acquisition	1,888	—	1,888	—
Options to purchase common stock	4,140	5,685	4,140	5,685
Restricted stock units and performance stock units	8,315	6,852	8,315	6,852
ESPP shares estimated to be purchased	83	57	83	57
Total	14,426	12,594	14,426	12,594