Backblaze, Inc. Stock Price, News & Analysis

Backblaze, Inc. (Nasdaq: BLZE) reported strong financial results for Q3 2022, with a total revenue of $22.1 million, a 27% increase year-over-year. B2 Cloud Storage revenue surged by 48%, reaching $8.8 million. Despite this growth, the company faced a net loss of $(12.8) million, compared to $(6.0) million in Q3 2021. Annual recurring revenue increased by 24% to $88.0 million. Looking ahead, Q4 revenue is projected between $22.5 million and $22.9 million, with adjusted EBITDA margins also improving.

Backblaze, the independent storage cloud company, has announced a new partner program aimed at resellers, integrators, and managed service providers. This program features a self-service portal, reserve pricing, and dedicated support, facilitating easier cloud storage integration. Key benefits for partners include discounted pricing, training resources, and a recurring 10% commission model for managed service providers and affiliates. Backblaze aims to enhance cloud storage accessibility and effectiveness for partners, fostering stronger business relationships and expanding their customer reach.

Backblaze (NASDAQ: BLZE), a leading independent storage cloud company, announced the appointment of Dr. Brian Beach as Chief Technology Officer (CTO) effective November 7, 2022. Brian Wilson, the previous CTO, transitions to an advisory role after 15 years of service. Brian Beach, a key figure at Backblaze since 2013, is recognized for his instrumental role in developing storage solutions and system architecture. The leadership change aims to enhance Backblaze's growth and innovation trajectory as it continues to serve over 500,000 customers globally.

Backblaze (BLZE) announced preliminary Q3 2022 results, indicating revenue between $22.0 million to $22.1 million, exceeding guidance of $21.4 million to $21.8 million. Adjusted EBITDA margin is projected to range from (9)% to (8)%, better than the prior forecast of (18)% to (14)%. Company attributes growth to a 45% year-over-year increase in Backblaze B2 Cloud Storage. Full financial results will be published on November 9, 2022.

Backblaze, Inc. (Nasdaq: BLZE) has appointed Robert Fitt as its new Chief Human Resources Officer (CHRO) to enhance HR functions including talent management, culture, and diversity efforts.

Fitt's experience spans over 20 years in HR leadership across various organizations. His role is crucial in supporting Backblaze's growth post-IPO, ensuring effective organizational design and employee engagement. The company, known for its strong workplace culture, aims to further its mission of making data storage easy and accessible.

Backblaze (NASDAQ: BLZE) has partnered with Stockperks to launch a Shareholder Perks Program, enhancing community engagement and providing exclusive rewards for investors. Current shareholders can access discounts on Backblaze's cloud services and branded merchandise through the Stockperks app. This initiative aims to create a stronger relationship between Backblaze and its retail investors. Backblaze continues to grow its customer base, currently servicing over 500,000 users globally. This partnership highlights Backblaze's commitment to fostering community among its shareholders.

Backblaze (Nasdaq: BLZE), a leader in independent storage cloud solutions, will present at the Sidoti September Small Cap Virtual Investor Conference on September 21, 2022, from 10:45 to 11:15 am PT. Co-founder and CEO Gleb Budman along with CFO Frank Patchel will lead the presentation via webcast. Investors can access the event through Backblaze’s investor relations website, with an archived version available for 90 days post-event. Backblaze manages over two billion gigabytes of data for more than 500,000 customers globally.

Backblaze, a cloud storage provider, reported Q2 2022 results with 28% revenue growth year-over-year, totaling $20.7 million. B2 Cloud Storage revenue surged by 45%, reaching $7.7 million, fueled by record data additions. Despite these gains, the company faced a net loss of $(11.6) million, widening from $(2.4) million in Q2 2021. Adjusted gross profit stood at $15.9 million (77% of revenue). For Q3, Backblaze forecasts revenue between $21.4 million and $21.8 million, with adjusted EBITDA margins projected between (18)% to (14)%.

Backblaze (Nasdaq: BLZE) announced that investors can submit and upvote questions for its upcoming Q2 earnings call on August 9, 2022. This initiative allows verified retail and institutional shareholders to directly engage with management regarding business and financial results. Questions must be submitted via the Say Connect platform by August 9 at 1:30 p.m. PT. Attendees can listen to the earnings call through a webcast or by phone. Backblaze, established in 2007, manages over two billion gigabytes of data across 500,000 customers globally.