Backblaze Q3 revenue +29% to $32.6M, Adj EBITDA margin 12%, announces 12% workforce reduction

Backblaze, Inc.

2024-Q3 EPS reported -$0.81 revenue$93,842,000

Revenue $32.6M (+29% YoY); B2 Cloud Storage $16.2M (+39%), Computer Backup $16.4M (+20%).
Adjusted EBITDA $3.7M (12% margin) vs -$0.8M; net loss $12.8M ($0.29/sh) improved from $16.1M loss ($0.44).
ARR $130.5M (+29% YoY); NRR 118%; signed two multi-year ~$1M deals.
2024 Restructuring Plan: ~12% headcount reduction, office footprint cut, severance & RSU acceleration, completion by year-end.
Q4 guidance: revenue $33.5-33.9M, Adj EBITDA margin 12-14%; FY2024 revenue $127-128M.

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