Financial Data and Key Metrics Changes - The company achieved Q4 revenue of $28.7 million, representing a 25% year-over-year increase [44] - Adjusted EBITDA reached 6%, exceeding the previous guidance of 3% [25][68] - Cash usage was reduced to $2.4 million, significantly lower than the $9 million used in the prior quarter [69] Business Line Data and Key Metrics Changes - B2 cloud storage revenue was $14 million, reflecting a 47% year-over-year growth [44] - Computer backup revenue totaled $14.7 million, showing a 10% growth [44] - Net revenue retention (NRR) for B2 cloud storage was 122%, while computer backup NRR was 100% [29] Market Data and Key Metrics Changes - The company noted a 1% to 2% decline in licensed usage in the quarter, but customer retention remained high at 91% [52][67] - The company is increasingly focusing on larger businesses, moving upmarket to capture more significant deals [5][40] Company Strategy and Development Direction - The company is committed to driving the open cloud ecosystem, emphasizing interoperability and affordability [26][34] - A new enterprise control feature was launched to help larger customers manage backups for multiple computers [28][36] - The company is enhancing its sales approach and building a channel program to support larger deals [38][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the open cloud market, driven by businesses seeking cost-effective and flexible solutions [34][42] - The company aims to achieve cash flow breakeven by mid-2025, with a forecast of at least $20 million in cash by year-end 2024 [70] Other Important Information - The company introduced a new Chief Product Officer to enhance innovation and strategic leadership [37] - The company is focused on AI-related use cases and has partnered with GPU cloud providers to support these initiatives [62][95] Q&A Session Summary Question: What is the expected impact of price increases on churn? - Management reported no significant increase in churn following the price increase, maintaining a strong customer retention rate [74][67] Question: How is the company finding new upmarket customers? - The company is leveraging content marketing, community engagement, and channel partnerships to attract media and entertainment customers [80] Question: What are the company's expectations for gross margin in 2024? - The company expects gross margin to be in the upper 70% range for the full year, an improvement attributed to price increases [93]

Backblaze, Inc. (BLZE) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.05%. A quarter ago, it was expected that this company would post a loss of $0.22 per share when it actually produced a loss of $0.21, delivering a surprise of 4.55%.Over the last four quarters, the company has surpassed ...

Backblaze, Inc. (BLZE) shares soared 8.6% in the last trading session to close at $9.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.7% gain over the past four weeks.The upswing in share price came after the company introduced "Powered by Backblaze", a new program designed to enable businesses to integrate cloud storage into their services with greater ease. The program targets independent software vendors, technology part ...

SAN MATEO, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today announced the launch of Powered by Backblaze. This program helps independent software vendors (ISV), technology partners, and other companies take the complexity out of offering object storage within their branded user experience so that they can focus on enabling customer success and growing revenue. "Backblaze has built the leading specialized storage cloud," said Gleb Budman, C ...

SAN MATEO, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized cloud storage platform, will report financial results for its fourth quarter and fiscal year ending December 31, 2023 on Thursday, February 15, 2024 after market close. Following the release of results, Backblaze will host a conference call and webcast at 1:30 p.m. PT (4:30 p.m. ET) on February 15, 2024 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/twbh9cnvRegister to ...

SAN MATEO, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today announced that David Ngo has joined the company as Chief Product Officer (CPO). A Software as a Service (SaaS) data protection industry veteran with more than 25 years of global leadership experience, Ngo will spearhead the company's global product management function, shaping the strategy, crafting the technology roadmap and overseeing execution. Ngo previously served as the glob ...

SAN MATEO, Calif., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today leveled up its endpoint backup solution with the launch of Backblaze Computer Backup with Enterprise Control. With more than 400,000 customers, Backblaze Computer Backup has been a favorite backup solution—named "The Best Online Cloud Backup Service" by the New York Times' Wirecutter—for businesses and individuals for more than 15 years. Enterprise Control brings the value busines ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per shareBLZE The Nasdaq Stock Market LLC For the transition period from to ___________________________________ (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Large accelerated filer ¨ Accelerated filer o Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ Part II - Other Information 41 Item 1. Le ...

Backblaze, Inc. (NASDAQ:BLZE) Q3 2023 Earnings Conference Call November 8, 2023 6:00 PM ET Company Participants Mimi Kong - Director of Investor Relations Gleb Budman - Co-Founder, Chief Executive Officer & Chairperson Frank Patchel - Chief Financial Officer Mimi Kong - New Director, Investor Relations Conference Call Participants Simon Leopold - Raymond James Ittai Kidron - Oppenheimer Chad Bennett - Craig-Hallum Erik Suppinger - JMP Securities Eric Martinuzzi - Lake Street Capital Markets Zach Cummins - B ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ Table of Contents FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Commission file number 001-41026 ___________________________________ ___________________________________ (Exact name of registrant as specified in its charter) (650) 352-3738 Registrant's teleph ...