---
schema_version: "secwatch.filing_event.v1"
accession: "0001462056-24-000019"
form_type: "8-K"
ticker: "BLZE"
cik: "0001462056"
company_name: "Backblaze, Inc."
filed_at: "2024-02-15T23:59:59+00:00"
generated_at: "2026-06-06T01:04:44.255015+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Backblaze Q4 revenue up 25% YoY to $28.7M; first adjusted EBITDA positive

## Summary
- 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).

## SEC filing metadata
- accession: 0001462056-24-000019
- form_type: 8-K
- ticker: BLZE
- cik: 0001462056
- company_name: Backblaze, Inc.
- filed_at: 2024-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000019/0001462056-24-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000019/blze-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462056-24-000019
- JSON: https://secwatch.observer/filing/0001462056-24-000019.json
- Plain text: https://secwatch.observer/filing/0001462056-24-000019.txt

## Key facts
- Earnings Releases
  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
  source text: 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-
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000019/0001462056-24-000019-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000019/0001462056-24-000019-index.htm

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