Backblaze Q4 revenue $33.8M (+18% YoY); adjusted EBITDA margin doubles to 14%

Backblaze, Inc.

2024-FY EPS reported -$1.11 revenue$127,628,000

Q4 revenue $33.8M (+18% YoY); B2 Cloud Storage $17.1M (+22%), Computer Backup $16.7M (+13%).
Q4 adjusted EBITDA $4.6M (14% margin) vs $1.7M (6%) in Q4 2023; net loss $14.4M (-$0.30/share).
FY 2024 revenue $127.6M (+25%); adjusted EBITDA $13.0M (10% margin) vs -$3.8M in 2023.
FY 2025 guidance: revenue $144-146M, adjusted EBITDA margin 16-18%; Q1 2025 revenue $34.1-34.5M.
ARR $136.7M (+16%); NRR 116%; signed $1M+ ACV deal; AI customers up 65% YoY; cash $54.9M.

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