8-K
filed February 15, 2024, 6:59 PM ET
ticker BLZE
CIK 0001462056
earnings
confidence high
sentiment positive
materiality 0.70
Backblaze Q4 revenue up 25% YoY to $28.7M; first adjusted EBITDA positive
Backblaze, Inc.
2023-FY EPS reported
-$1.66
revenue$102,019,000
- Q4 revenue $28.7M (+25% YoY); B2 Storage $14.0M (+47% YoY); Computer Backup $14.7M (+10% YoY).
- Adjusted EBITDA $1.6M (6% revenue) vs $(2.5)M loss in Q4 2022 – first positive as public company.
- Net loss $11.4M ($0.30/share) improved from $14.5M ($0.44) YoY; Non-GAAP net loss $5.6M ($0.15/share).
- FY2024 guidance: revenue $126-128M, adjusted EBITDA margin 8-10%.
- Cash usage reduced >70% QoQ to $2.4M; ARR $117.6M (+28% YoY).
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Backblaze, Inc. reported Fourth Quarter 2023 results: revenue $28.7 million, net income $11.4 million, EPS $0.30. Guidance initiated.
- Period
- Fourth Quarter 2023
- Revenue
- $28.7 million
- Net income
- $11.4 million
- EPS
- $0.30
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
Fourth Quarter 2023 Financial Highlights: • Revenue of $28.7 million, an increase of 25% year-over-year (YoY). ▪ B2 Cloud Storage revenue was $14.0 million, an increase of 47% YoY. ▪ Computer Backup revenue was $14.7 million, an increase of 10%YoY. • Gross profit of $15.2 million, or 53% of revenue, compared to $11.7 million or 51% of revenue, in Q4 2022. • Adjusted gross profit of $22.1 million, or 77% of revenue, compared to $17.3 million or 75% of revenue in Q4 2022. • Net loss was $11.4 million compared to a net loss of $14.5 million in Q4 2022. • Net loss per share was $0.30 compared to a net loss per share of $0.44 in Q4 2022. • Adjusted EBITDA was $1.6 million, or 6% of revenue, compared to $(2.5) million or (11)% of revenue in Q4 2022. • Non-GAAP net loss of $5.6 million compared to non-GAAP net loss of $9.0 million in 2022. • Non-GAAP net loss per share of $0.15 compared to a non-GAAP net loss per share of $0.27 in 2022. • Cash, short-term investments and restricted cash, non-
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Backblaze, Inc. reported Full Year 2023 results: revenue $102.0 million, net income $58.9 million, EPS $1.63. Guidance initiated.
- Period
- Full Year 2023
- Revenue
- $102.0 million
- Net income
- $58.9 million
- EPS
- $1.63
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
Full-Year 2023 Financial Highlights: • Revenue of $102.0 million, an increase of 20% YoY. ▪ B2 Cloud Storage revenue was $46.4 million, an increase of 40% YoY. ▪ Computer Backup revenue was $55.6 million, an increase of 7% YoY. • Gross profit of $50.0 million, or 49% of revenue, compared to $43.9 million or 52% of revenue, in 2022. • Adjusted gross profit of $76.2 million, or 75% of revenue, compared to $64.6 million or 76% of revenue in 2022. • Net loss was $58.9 million compared to $51.4 million in 2022. • Net loss per share was $1.63 compared to $1.62 in 2022. • Adjusted EBITDA was $(3.9) million, or (4)% of revenue, compared to $(9.4) million and (11)% of revenue in 2022. • Non-GAAP net loss of $30.6 million compared to non-GAAP net loss of $32.8 million in 2022. • Non-GAAP net loss per share of $0.85 compared to a non-GAAP net loss per share of $1.04 in 2022.
View on SEC.gov
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