Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Backblaze, Inc. due to allegations of materially misleading business information issued by the company [1] Group 1: Investigation and Allegations - The investigation is prompted by a report from Morpheus Research that accused Backblaze of financial missteps and questionable accounting practices since its IPO in November 2021 [3] - The Morpheus Research report led to a significant drop in Backblaze's stock price, which fell by 2.1% on April 24, 2025 [3] Group 2: Class Action Details - Shareholders who purchased Backblaze securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees due to a contingency fee arrangement [2] - Interested investors can join the class action by submitting a form or contacting the Rosen Law Firm directly [2] Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and consistently ranking among the top firms for securities class action settlements since 2013 [4] - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering significant amounts for its clients [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K _________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-41026 _________________________________ BACKBLAZE, INC. _________________________ ...

DENVER and SAN MATEO, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- Cologix, a leading North American network-neutral data center provider, today announced Backblaze (Nasdaq: BLZE), a publicly traded cloud storage company, has deployed its services at Cologix’s TOR3 digital edge data center in Toronto. This deployment features a high-capacity setup with dedicated power and a direct fiber connection to Cologix’s TOR1 digital edge data center, Canada’s largest carrier hotel, providing fast access to multiple net ...

Group 1 - The article emphasizes the importance for investors to focus on selecting individual stocks with specific catalysts for a rally, especially as stock markets hover around all-time highs [1] - Gary Alexander, with extensive experience in technology and startups, provides insights into industry themes and has been a contributor to Seeking Alpha since 2017 [1] Group 2 - The article does not provide any specific company or industry analysis, focusing instead on general investment strategies and the author's background [2][3]

Backblaze, Inc. (NASDAQ:BLZE) Q4 2024 Earnings Conference Call February 25, 2025 5:00 PM ET Company Participants Mimi Kong - Senior Director of Investor Relations and Corporate Development Gleb Budman - Chairman and Chief Executive Officer Marc Suidan - Chief Financial Officer Conference Call Participants Jeff Van Rhee - Craig-Hallum Capital Group Ittai Kidron - Oppenheimer & Co., Inc. Simon Leopold - Raymond James & Associates, Inc. Jason Ader - William Blair & Company Maxwell Michaelis - Lake Street Capit ...

Financial Performance - Q4 2024 revenue was $33.8 million, an increase of 18% year-over-year, with B2 Cloud Storage revenue growing 22% to $17.1 million[4] - Adjusted EBITDA for Q4 2024 was $4.6 million, representing a margin of 14%, more than doubling from 6% in Q4 2023[4] - Annual recurring revenue (ARR) reached $136.7 million, a 16% increase year-over-year, with B2 Cloud Storage ARR growing 22% to $70.2 million[7] - Net loss for Q4 2024 was $14.4 million, compared to a net loss of $12.2 million in Q4 2023, while net loss per share improved to $0.30 from $0.32[4] - The net loss for the year ended December 31, 2024, was $48,531,000, an improvement from a net loss of $59,713,000 in 2023[32] - Non-GAAP net loss for the year ended December 31, 2024, was $17.534 million, improving from a non-GAAP net loss of $30.511 million in 2023[40] Customer Metrics - Gross customer retention rate was 90% in Q4 2024, slightly down from 91% in Q4 2023, with B2 Cloud Storage retention at 89%[7] - The number of customers decreased to 507,647 from 511,942 in Q4 2023, while B2 Cloud Storage customers increased to 107,616 from 97,842[7] - The net revenue retention rate (NRR) for the company is 120%, reflecting a 1% decrease from the previous quarter due to a refined customer definition[23] Cash Flow and Expenses - Adjusted free cash flow for the year ended December 31, 2024, was $(20.1) million, an improvement from $(43.2) million in 2023[4] - Adjusted Free Cash Flow for the three months ended December 31, 2024, was $(4.528) million, with an Adjusted Free Cash Flow margin of (13)%, compared to (19)% in the same period of 2023[41] - The company provided $2.233 million in net cash from operating activities for the three months ended December 31, 2024, compared to $3.248 million in 2023[41] - Operating expenses for the year ended December 31, 2024, totaled $115,632,000, compared to $107,762,000 in 2023, indicating an increase of approximately 7.3%[30] - Total stock-based compensation expense for the three months ended December 31, 2024, was $9.133 million, up from $6.507 million in 2023[42] Future Outlook - The company expects Q1 2025 revenue growth of 21-23% and full-year 2025 revenue between $144.0 million to $146.0 million[7] - The company expects to continue its restructuring efforts, which include $3.9 million in severance and benefits related to impacted employees as part of the 2024 Restructuring Plan[38] Asset Growth - The total assets of the company increased to $168,558,000 in 2024 from $131,687,000 in 2023, representing a growth of approximately 27.9%[28] - Cash and cash equivalents at the end of the period increased to $45,776,000 from $16,630,000, marking a significant increase[32] AI Business Impact - AI-related business saw a nearly 10-fold increase in data, with 3 AI companies now among the top 10 customers[6]

Core Viewpoint - Backblaze, Inc. (BLZE) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that rising earnings estimates can lead to increased buying pressure and higher stock prices [4][5]. - Backblaze is projected to earn -$0.43 per share for the fiscal year ending December 2024, reflecting a year-over-year change of 49.4% [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - Backblaze's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10]. Analyst Sentiment - Analysts have been consistently raising their earnings estimates for Backblaze, with the Zacks Consensus Estimate increasing by 0.3% over the past three months [8].

Core Viewpoint - Backblaze, Inc. (BLZE) shares have increased by 16.4% recently, with analysts suggesting a potential upside of 57% based on a mean price target of $11.60 [1][9]. Price Targets and Analyst Estimates - The mean estimate for BLZE comprises five short-term price targets, with a standard deviation of $1.52, indicating variability among analysts [2]. - The lowest price target is $10, suggesting a 35.3% increase, while the highest target is $14, indicating an 89.5% potential increase [2]. - A low standard deviation among price targets suggests strong agreement among analysts regarding the stock's price movement [7]. Earnings Estimates and Analyst Agreement - Analysts show strong agreement in revising earnings per share (EPS) estimates higher, which correlates with potential stock price increases [9]. - The Zacks Consensus Estimate for the current year has risen by 0.4% over the past month, with one estimate increasing and no negative revisions [10]. - BLZE holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11]. Caution on Price Targets - Solely relying on price targets for investment decisions may not be wise, as analysts' price targets can often be overly optimistic due to business incentives [3][6]. - While price targets can provide some guidance, they should be approached with skepticism, and further research is recommended to identify fundamental drivers [8][12].

Group 1 - Backblaze, Inc. (BLZE) shares increased by 10.5% to $6.96 in the last trading session, contrasting with a 1.4% loss over the past four weeks [1] - The company is undergoing a significant go-to-market transformation led by new executives, focusing on upskilling, partnerships, and sales strategies, which is driving revenue growth, especially in the B2 Cloud Storage segment [2] - Backblaze is expected to report a quarterly loss of $0.09 per share, reflecting a year-over-year improvement of 40%, with revenues projected at $33.75 million, a 17.4% increase from the previous year [3] Group 2 - The consensus EPS estimate for Backblaze has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - Backblaze holds a Zacks Rank of 3 (Hold), indicating a neutral outlook, while another company in the same industry, Weave Communications, has also maintained a Zacks Rank of 3 [4][5] - Weave Communications is expected to report an EPS of $0.03, representing a 400% increase from the previous year, with its stock finishing the last trading session slightly higher [5]

Group 1 - The stock market is experiencing a significant rise towards the end of 2024, suggesting that investors should focus on careful stock-picking, especially in lesser-known value stocks [1] - There is an emphasis on identifying stocks with specific catalysts that can enhance their fundamental performance [1] Group 2 - Gary Alexander has extensive experience in the technology sector, having worked on Wall Street and in Silicon Valley, and has been an adviser to several seed-round startups [2] - Since 2017, Gary Alexander has been a regular contributor to Seeking Alpha and has been featured in various web publications, with his articles also appearing on popular trading apps like Robinhood [2]