Backblaze, Inc. Stock Price, News & Analysis

Backblaze, a leading independent storage cloud platform, will announce its financial results for Q1 2022 on May 5, 2022, after market close. A conference call and webcast to discuss the results will follow at 1:30 p.m. PT. Shareholders will have the opportunity to submit and upvote questions for the management to address during this call, with the submission platform open from April 28 to May 4. Backblaze manages nearly two exabytes of data and serves around 500,000 customers globally.

Backblaze (Nasdaq: BLZE) announced the conversion of a portion of its founders' Class B shares to Class A shares as part of Rule 10b5-1 automatic stock trading plans. The founders will retain approximately 80% of their shares post-sale and emphasize a positive long-term outlook for the company. The sales aim to diversify their portfolios after 15 years without major monetization opportunities. Daily sales of 2,000 Class A shares are scheduled to begin after the IPO lock-up release on May 10, 2022. The company manages nearly two exabytes of data for about 500,000 customers worldwide.

Backblaze (Nasdaq: BLZE) has introduced Universal Data Migration, a free service designed to simplify the process of migrating data to its B2 Cloud Storage. This offering allows enterprises to transfer data from various sources, including public cloud storage, servers, and tape solutions, without incurring migration costs. Organizations must maintain a minimum of 10TB in Backblaze B2 for at least one year to qualify. The initiative aims to address vendor lock-in challenges, offering businesses greater flexibility and cost savings in managing their data.

Backblaze (Nasdaq: BLZE) has enhanced its partner program by introducing a channel-friendly package and a new API for its B2 Cloud Storage services. The enhancements aim to provide better support for independent software vendors (ISVs) and channel partners, allowing for improved management, reporting, and a seamless customer experience. The Backblaze B2 Reserve includes incentives and support for accelerating cloud storage adoption, while the new Partner API enables ISVs to integrate Backblaze storage into their platforms, creating new revenue opportunities.

Backblaze (Nasdaq: BLZE) and CTERA have partnered to offer a cloud-based solution addressing challenges in on-premises data growth and security threats. This collaboration provides IT admins with a modern cloud file storage option that enhances traditional NAS capabilities, enabling tasks like remote workforce empowerment and efficient disaster recovery. The solution comes at a significantly lower cost than existing alternatives, optimizing budgets while improving data management.

Backblaze (Nasdaq: BLZE) has publicly opened its Bugcrowd Bug Bounty Program to all security researchers. This initiative reflects Backblaze's commitment to enhancing cybersecurity, following its investments in security upgrades like server-side encryption for its B2 Cloud Storage API. The company has doubled its Security team over the past year under CISO Mark Potter's leadership. The program aims to identify and mitigate vulnerabilities by engaging ethical hackers, aligning with best practices in an evolving threat landscape.

Backblaze has announced a new Postman Collection for its S3 Compatible API, enhancing accessibility for developers. This initiative aims to simplify API usage with robust documentation available on Postman, facilitating easier onboarding for developers. The integration allows for quick interaction with B2 Cloud Storage through a one-click 'Run in Postman' feature. Backblaze continues to support the developer community, having established various resources since launching the S3 API in 2020. The company serves around 500,000 customers globally, managing over 2 billion gigabytes of data.

Backblaze reported a 28% revenue growth for Q4 2021, totaling $18.7 million. The B2 Cloud Storage segment showed impressive 56% growth with revenues of $6.6 million in Q4. Overall, 2021 revenues reached $67.5 million (+25% YoY). However, the company faced a net loss of $9.6 million in Q4, worsening from a loss of $3.4 million in Q4 2020. Looking ahead, Backblaze projects 2022 revenues between $83 million and $86 million.

Backblaze (Nasdaq: BLZE) announced an initiative allowing retail investors to submit questions for the upcoming Q4 2021 earnings call on February 17, 2022. Through a partnership with Say Technologies, investors can upvote questions to ensure management addresses key concerns during the call. The submission window is open until February 16, 2022. CEO Gleb Budman emphasized the importance of transparency and engagement with all investors. Backblaze, with nearly two exabytes of data storage and close to 500,000 customers globally, highlights its commitment to becoming a leading independent cloud storage provider.