SAN MATEO, Calif., April 11, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today announced that it has joined the Trusted Partner Network (TPN), a security initiative wholly owned by the Motion Picture Association (MPA). The move demonstrates Backblaze's commitment to upholding TPN standards and content security best practices, and to serving the enterprise-grade security needs of media and entertainment companies. Content workflows are evolving at an unprece ...

SAN MATEO, Calif., April 09, 2024 (GLOBE NEWSWIRE) -- In booth SL7077 at the 2024 NAB Show, Backblaze Inc. (BLZE), the leading specialized storage cloud, will showcase a range of new features, functionality, and partnerships aimed to help media teams meet the challenges of a rapidly changing technology landscape. The Backblaze team will highlight announcements relating to automating cloud workflows, expanding media archive search functionality with AI, and advancing security standards within the industry wh ...

• require us to issue refunds or credits to our customers or expose us to claims for damages, • cause us to lose existing customers and make it more difficult to attract new customers, • divert our development resources or require us to make extensive changes to our cloud services or software, • harm our reputation and brand, and • negatively impact our results of operations. If we fail to ef ectively manage our growth, our business would be harmed. We have recently experienced, and continue to experience, ...

SAN MATEO, Calif. and RESTON, Va., March 21, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, and Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®, announced today that Backblaze's product portfolio has been added to Carahsoft's National Association of State Procurement Officials (NASPO) ValuePoint contract. The contract addition enables Carahsoft and Backblaze to provide the company's cutting-edge cloud storage solutions to participatin ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Backblaze, Inc. (BLZE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.Backblaze, Inc. is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks ...

Backblaze, Inc. (BLZE) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investor ...

Backblaze (NASDAQ: BLZE) stock price formed a god candle on Friday as investors cheered its strong financial results. The shares jumped to a high of $11.85 on Friday, its highest point since February 22nd. It has risen in the past six straight weeks and has soared by over 220% from the lowest point in 2023. This rally has brought its total market cap to over $463 million. Backblaze is doing well but risks remainCopy link to sectionBackblaze is a technology company that provides cloud computing solutions to ...

Shares of Backblaze (BLZE 45.15%) roared 45.2% higher on Friday after the cloud storage platform announced stronger-than-expected quarterly results.Backblaze ends 2023 on a high note, led by B2 Cloud Storage growthFor its fourth-quarter 2023, Backblaze's revenue grew 25% year over year to $28.7 million, including a 47% increase to $14 million in B2 Cloud Storage revenue and a 10% bump to $14.7 million in Computer Backup segment sales. On the bottom line, that translated to an adjusted (non-GAAP) net loss of ...

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]