secwatch.observer — SEC 8-K summary
======================================

Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001462056-24-000039
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000146205624000039/0001462056-24-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000146205624000039/blze-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001462056-24-000039

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer