Backblaze, Inc. Stock Price, News & Analysis

Backblaze, a leading specialized storage cloud platform, will announce its financial results for Q1 2023 on May 9, 2023, after market close. A conference call and webcast to discuss these results will be held at 1:30 p.m. PT (4:30 p.m. ET) on the same day. Verified shareholders can submit questions via the Say Connect platform from May 2 to May 8, 2023, which management will address during the call. Backblaze manages over two billion gigabytes of data for more than 500,000 customers worldwide and aims to enhance communication with shareholders. The webcast archive will be available post-call on the Investor Relations page of Backblaze's website.

Backblaze, Inc. (BLZE) reported Q4 2022 results showcasing a 23% overall revenue growth to $22.9 million, driven by a remarkable 44% growth in B2 Cloud Storage revenue, totaling $9.5 million. Despite revenue increases, the company faced a net loss of $14.8 million, worsening from $9.6 million in the previous year. The annual recurring revenue (ARR) rose to $92 million, a 22% increase year-over-year. For Q1 2023, Backblaze anticipates revenue between $23.1 million to $23.5 million and a full-year forecast of $98 million to $102 million. The company is also targeting an adjusted EBITDA margin improvement for 2023.

Backblaze, Inc. (Nasdaq: BLZE) has achieved SOC 2 Type 2 certification, affirming its commitment to robust information security controls. The certification, conducted by an independent third-party auditing firm, validates the effectiveness of Backblaze's operational controls in securing customer data. The company operates in SOC 2 certified data centers, ensuring compliance with industry best practices. CEO Gleb Budman emphasized the importance of this certification as external validation of their data management and security measures. Backblaze plans for annual reviews to maintain SOC 2 compliance, enhancing trust with its customers.

Backblaze, a leading cloud storage provider (Nasdaq: BLZE), will disclose its financial results for Q4 and fiscal year ending December 31, 2022, on February 15, 2023, post-market. A conference call and webcast will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results.

Shareholders can submit and upvote questions via the Say Connect platform from February 8 to February 14, 2023, ahead of the earnings call. Backblaze serves over 500,000 customers globally, managing more than two billion gigabytes of data.

Backblaze, Inc. (Nasdaq: BLZE) reaffirmed its fiscal Q4 2022 and full-year 2022 guidance, projecting revenue growth of over 20% year-over-year. The anticipated revenue for Q4 is between $22.5 million and $22.9 million, and for the full year, it’s forecasted at $84.7 million to $85.1 million. Despite posting adjusted EBITDA margins of (14)% to (10)% for Q4, the company emphasized the robustness of its recurring revenue model. Backblaze's management will engage with investors at the upcoming Needham Growth Conference.

Backblaze, Inc. (Nasdaq: BLZE) has announced the launch of a new data region in the Eastern United States to enhance data storage options for customers. The U.S. East data center, IAD 1, located in Reston, Virginia, supports high-capacity storage and compliance with major security standards. This expansion allows for increased speed and geographic separation while offering free data egress for its Cloud Replication service. Backblaze aims to meet evolving data storage needs and enable businesses to replicate data more affordably.

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.