secwatch.observer — SEC 8-K summary
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Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001462056-24-000051
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000146205624000051/0001462056-24-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000146205624000051/blze-20241107.htm
  HTML page:      https://secwatch.observer/filing/0001462056-24-000051

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