---
schema_version: "secwatch.filing_event.v1"
accession: "0001462056-24-000039"
form_type: "8-K"
ticker: "BLZE"
cik: "0001462056"
company_name: "Backblaze, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T09:40:35.116526+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Backblaze Q1 revenue up 28% to $30M, turns adjusted EBITDA positive; CFO plans retirement

## Summary
- Revenue $30.0M (+28% YoY); B2 Cloud Storage revenue $14.6M (+47% YoY).
- Adjusted EBITDA $1.9M (6% margin) vs -$2.9M (-12%) in Q1 2023.
- Net loss narrowed to $11.1M from $17.1M; non-GAAP net loss per share $0.14.
- CFO Frank Patchel to retire later in 2024; search for successor underway.
- Q2 2024 revenue guidance $30.7M-$31.1M; FY2024 revenue guidance $126M-$128M.

## SEC filing metadata
- accession: 0001462056-24-000039
- form_type: 8-K
- ticker: BLZE
- cik: 0001462056
- company_name: Backblaze, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000039/0001462056-24-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000039/blze-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462056-24-000039
- JSON: https://secwatch.observer/filing/0001462056-24-000039.json
- Plain text: https://secwatch.observer/filing/0001462056-24-000039.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000039/0001462056-24-000039-index.htm
- Executive change
  Frank Patchel departed as Chief Financial Officer at Backblaze, Inc..
  - Action: intending to retire
  - Role: Chief Financial Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462056/000146205624000039/0001462056-24-000039-index.htm

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