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

On January 30, 2026, the shares of Class B common stock that converted to Class A common stock were retired and will not be reissued by us.

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 April 30,
	2026		2025
Numerator:
Net loss attributable to Braze, Inc.	$	(26,591)	$	(35,786)
Denominator:
Weighted-average shares used to calculate net loss per share attributable to Braze, Inc. common stockholders, basic and diluted	110,797		104,572
Net loss per share attributable to Braze, Inc. common stockholders, basic and diluted	$	(0.24)	$	(0.34)

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 April 30,
	2026	2025
Replacement shares issued in connection with acquisition	1,888	—
Options to purchase common stock	3,242	4,831
Restricted stock units and performance stock units	12,873	7,978
ESPP shares estimated to be purchased	201	142
Total	18,204	12,951