secwatch.observer — SEC 8-K summary
======================================

Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001462056-23-000133
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/0001462056-23-000133-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000146205623000133/blze-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001462056-23-000133

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer