---
schema_version: "secwatch.filing_event.v1"
accession: "0001462056-23-000133"
form_type: "8-K"
ticker: "BLZE"
cik: "0001462056"
company_name: "Backblaze, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:47:26.964499+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Backblaze Q1 revenue up 20% to $23.4M, B2 storage grows 42%, net loss widens to $17.1M

## Summary
- Revenue $23.4M (+20% YoY); B2 Cloud Storage revenue $10.0M (+42% YoY); Computer Backup $13.4M (+8% YoY).
- Net loss $17.1M ($0.50 per share) vs $12.5M ($0.41) in Q1 2022; Non-GAAP net loss $9.0M ($0.26 per share).
- Adjusted EBITDA loss of $(2.9)M (12% of revenue) improved from $(3.0)M (15%) in prior year.
- ARR $95.9M (+21% YoY); B2 Cloud Storage ARR $41.7M (+47%); NRR 111% (B2 120%).
- Q2 2023 guidance: revenue $24.1-24.5M, Adj. EBITDA margin (11%)-(7%); full-year revenue reaffirmed $98-102M.

## SEC filing metadata
- accession: 0001462056-23-000133
- form_type: 8-K
- ticker: BLZE
- cik: 0001462056
- company_name: Backblaze, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/0001462056-23-000133-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/blze-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462056-23-000133
- JSON: https://secwatch.observer/filing/0001462056-23-000133.json
- Plain text: https://secwatch.observer/filing/0001462056-23-000133.txt

## Key facts
- Earnings Releases
  Backblaze, Inc. reported the first quarter ended March 31, 2023 results: revenue $23.4 million, net income $17.1 million, EPS $0.50.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $23.4 million
  - Net income: $17.1 million
  - EPS: $0.50
  - Result: reported results
  source text: First Quarter 2023 Financial Highlights: • Revenue of $23.4 million, an increase of 20% year-over-year (YoY). • B2 Cloud Storage revenue was $10.0 million, an increase of 42% YoY. • Computer Backup revenue was $13.4 million, an increase of 8% YoY. ◦ Gross profit of $11.0 million, or 47% of revenue, compared to $9.8 million and 50% of revenue, in Q1 2022. • Adjusted gross profit of $17.0 million, or 72% of revenue, compared to $14.8 million and 76% of revenue in Q1 2022. • Net loss of $17.1 million compared to a net loss of $12.5 million in Q1 2022. • Net loss per share of $0.50 compared to a net loss per share of $0.41 in Q1 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/0001462056-23-000133-index.htm
- Earnings Releases
  Backblaze, Inc. reported the second quarter of 2023 results: revenue between $24.1 million to $24.5 million. Guidance initiated.
  - Period: the second quarter of 2023
  - Revenue: between $24.1 million to $24.5 million
  - Guidance: initiated
  - Result: guidance update
  source text: For the second quarter of 2023 we expect: • Revenue between $24.1 million to $24.5 million • Adjusted EBITDA margin between (11)% to (7)% • Basic weighted average shares outstanding of 34.5 million to 36.5 million shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/0001462056-23-000133-index.htm
- Earnings Releases
  Backblaze, Inc. reported full-year 2023 results: revenue between $98 million to $102 million. Guidance reaffirmed.
  - Period: full-year 2023
  - Revenue: between $98 million to $102 million
  - Guidance: reaffirmed
  - Result: guidance update
  source text: For full-year 2023 we continue to expect: • Revenue between $98 million to $102 million • Adjusted EBITDA margin between (10)% to (6)%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/0001462056-23-000133-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.