Backblaze Q2 revenue up 19% to $24.6M; net loss widens to $14.3M; B2 storage grows 39%

Backblaze, Inc.

2023-Q2 EPS reported -$0.91 revenue$47,983,000

Revenue $24.6M (+19% YoY); B2 Cloud revenue $10.8M (+39% YoY); ARR $97.3M (+18%).
Net loss $14.3M ($0.41/share) vs. $11.6M ($0.37) in Q2 2022; Adj. EBITDA loss $(1.8)M (7% of rev) vs. $(1.9)M (9%).
Customers >$50K ARR grew 54% to 74; largest computer backup deal signed with global social media company.
Eliminated dual-class stock structure in July 2023; all shares now have equal voting rights.
Q3 revenue guidance $25.0-$25.4M; full-year guidance unchanged $98-$102M; adj. EBITDA margin improved to (8.5)% to (4.5)% from (10)% to (6)%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Backblaze, Inc. updated its third quarter of 2023 and full-year 2023 guidance (reaffirmed).

Period: third quarter of 2023 and full-year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

For the third quarter of 2023 we expect: • Revenue between $25.0 million to $25.4 million • Adjusted EBITDA margin between (8)% to (4)% • Basic weighted average shares outstanding of 36.5 million to 37.5 million shares For full-year 2023 we expect: • Revenue between $98 million to $102 million (unchanged) • Adjusted EBITDA margin between (8.5)% to (4.5)% (improved versus the prior range of (10)% to (6)%)

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Backblaze, Inc. reported second quarter ended June 30, 2023 results: revenue $24.6 million, net income Net loss of $14.3 million, EPS Net loss per share of $0.41.

Period: second quarter ended June 30, 2023
Revenue: $24.6 million
Net income: Net loss of $14.3 million
EPS: Net loss per share of $0.41
Result: reported results

Exact text from the filing

of traditional cloud providers to an open cloud where customers are empowered to store and use data as they choose.” Second Quarter 2023 Financial Highlights: • Revenue of $24.6 million, an increase of 19% year-over-year (YoY). • B2 Cloud Storage revenue was $10.8 million, an increase of 39% YoY. • Computer Backup revenue was $13.8 million, an increase of 7%

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Backblaze, Inc. filing history →

Source: SEC EDGAR

accession 0001462056-23-000184

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