On May 8, 2024, the Company announced that Frank Patchel, Chief Financial Officer, is intending to retire from the Company later in 2024 following the hiring and onboarding of his replacement.
Key facts
Extracted from this filing and checked against the source text.
Earnings ReleasesSEC 8-K Item 2.02confidence 0.95
Backblaze, Inc. reported first quarter ended March 31, 2024 results: revenue $30.0 million, net income $11.1 million, EPS $0.27. Guidance initiated.
Period
first quarter ended March 31, 2024
Revenue
$30.0 million
Net income
$11.1 million
EPS
$0.27
Guidance
initiated
Result
reported results
Exact text from the filing
First Quarter 2024 Financial Highlights: • Revenue of $30.0 million, an increase of 28% year-over-year (YoY). • B2 Cloud Storage revenue was $14.6 million, an increase of 47% YoY. • Computer Backup revenue was $15.3 million, an increase of 14% YoY. ◦ Gross profit of $15.8 million, or 53% of revenue, compared to $11.0 million or 47% of revenue, in Q1 2023. • Adjusted gross profit of $23.0 million, or 77% of revenue, compared to $17.0 million or 72% of revenue in Q1 2023. • Net loss was $11.1 million compared to a net loss of $17.1 million in Q1 2023. • Net loss per share was $0.27 compared to a net loss per share of $0.50 in Q1 2023.
Frank Patchel departed as Chief Financial Officer at Backblaze, Inc..
Action
intending to retire
Role
Chief Financial Officer
Exact text from the filing
On May 8, 2024, the Company announced that Frank Patchel, Chief Financial Officer, is intending to retire from the Company later in 2024 following the hiring and onboarding of his replacement.
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