Welcome to our dedicated page for Backblaze news (Ticker: BLZE), a resource for investors and traders seeking the latest updates and insights on Backblaze stock.
Company Overview
Backblaze, Inc. (NASDAQ: BLZE) is a cloud storage and backup service provider that has redefined data storage solutions with a focus on affordability, performance, and accessibility. Offering a direct, consumption-based pricing model, Backblaze provides innovative cloud solutions such as secure cloud object storage and automatic computer backup services for both individuals and businesses.
Business Model and Core Services
Backblaze operates on a consumption-based Infrastructure-as-a-Service (IaaS) model. Its primary services include:
- Cloud Storage: A flexible and low-cost storage option that uses a pay-per-use model, making it ideal for developers, media applications, and IT workflows.
- Cloud Backup: An automatic backup service that protects data on Macs and PCs, designed to meet the needs of individual users and businesses seeking reliable data protection.
Innovative Solutions and Technological Differentiation
Backblaze continually evolves its product offerings to address emerging industry challenges. One such innovation is Live Read, an advanced feature that allows media professionals to access portions of files as they upload. This breakthrough accelerates workflows for live media production and editing, reducing latency traditionally associated with large file transfers. The platform’s seamless integration via APIs supports a variety of applications including AI workflows, media management, and secure backup regimes, enabling customers to work more flexibly and efficiently.
Market Position and Competitive Landscape
Within the highly competitive cloud services landscape, Backblaze differentiates itself with a focus on simplicity, transparency, and low cost. While many traditional cloud providers offer elaborate ecosystems, Backblaze positions its offerings as straightforward alternatives that empower users to leverage data in an open cloud environment. This approach not only attracts developers and IT professionals but also appeals to media and entertainment sectors looking for rapid access and flexible integration capabilities.
Customer Segments and Global Reach
Backblaze serves a diverse clientele including developers, IT teams, media houses, and individual users. Its solutions scale to support both small-scale personal backups and large enterprise data storage needs. Although the majority of its revenue is generated in the United States, the company maintains an international presence with customers spanning across regions such as the United Kingdom, Canada, and beyond.
Technology, Security, and Operational Excellence
Security and reliability are at the core of Backblaze’s technological offerings. The platform not only ensures efficiency in data management but also incorporates robust security features to protect against data loss and cyber threats, including ransomware. Its API-first approach and S3 compatibility make it a versatile tool for developers seeking to integrate cloud storage seamlessly into their applications, reinforcing its reputation as a trustworthy and dependable cloud storage solution.
Summary
Backblaze stands out in the cloud storage industry by providing a modern and affordable alternative to traditional cloud back-end solutions. Its emphasis on open cloud frameworks, combined with user-friendly backup solutions and innovative acceleration technologies like Live Read, underscores its commitment to customer empowerment and operational efficiency. By consistently prioritizing transparency, performance, and ease of use, Backblaze has established a compelling value proposition and maintains a respected position within its competitive landscape.
Backblaze, a leading specialized storage cloud platform, will announce its financial results for Q1 2023 on May 9, 2023, after market close. A conference call and webcast to discuss these results will be held at 1:30 p.m. PT (4:30 p.m. ET) on the same day. Verified shareholders can submit questions via the Say Connect platform from May 2 to May 8, 2023, which management will address during the call. Backblaze manages over two billion gigabytes of data for more than 500,000 customers worldwide and aims to enhance communication with shareholders. The webcast archive will be available post-call on the Investor Relations page of Backblaze's website.
Backblaze, Inc. (BLZE) reported Q4 2022 results showcasing a 23% overall revenue growth to $22.9 million, driven by a remarkable 44% growth in B2 Cloud Storage revenue, totaling $9.5 million. Despite revenue increases, the company faced a net loss of $14.8 million, worsening from $9.6 million in the previous year. The annual recurring revenue (ARR) rose to $92 million, a 22% increase year-over-year. For Q1 2023, Backblaze anticipates revenue between $23.1 million to $23.5 million and a full-year forecast of $98 million to $102 million. The company is also targeting an adjusted EBITDA margin improvement for 2023.
Backblaze, Inc. (Nasdaq: BLZE) has achieved SOC 2 Type 2 certification, affirming its commitment to robust information security controls. The certification, conducted by an independent third-party auditing firm, validates the effectiveness of Backblaze's operational controls in securing customer data. The company operates in SOC 2 certified data centers, ensuring compliance with industry best practices. CEO Gleb Budman emphasized the importance of this certification as external validation of their data management and security measures. Backblaze plans for annual reviews to maintain SOC 2 compliance, enhancing trust with its customers.
Backblaze, a leading cloud storage provider (Nasdaq: BLZE), will disclose its financial results for Q4 and fiscal year ending December 31, 2022, on February 15, 2023, post-market. A conference call and webcast will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results.
Shareholders can submit and upvote questions via the Say Connect platform from February 8 to February 14, 2023, ahead of the earnings call. Backblaze serves over 500,000 customers globally, managing more than two billion gigabytes of data.
Backblaze, Inc. (Nasdaq: BLZE) reaffirmed its fiscal Q4 2022 and full-year 2022 guidance, projecting revenue growth of over 20% year-over-year. The anticipated revenue for Q4 is between $22.5 million and $22.9 million, and for the full year, it’s forecasted at $84.7 million to $85.1 million. Despite posting adjusted EBITDA margins of (14)% to (10)% for Q4, the company emphasized the robustness of its recurring revenue model. Backblaze's management will engage with investors at the upcoming Needham Growth Conference.
Backblaze, Inc. (Nasdaq: BLZE) has announced the launch of a new data region in the Eastern United States to enhance data storage options for customers. The U.S. East data center, IAD 1, located in Reston, Virginia, supports high-capacity storage and compliance with major security standards. This expansion allows for increased speed and geographic separation while offering free data egress for its Cloud Replication service. Backblaze aims to meet evolving data storage needs and enable businesses to replicate data more affordably.
Backblaze, Inc. (Nasdaq: BLZE) reported strong financial results for Q3 2022, with a total revenue of $22.1 million, a 27% increase year-over-year. B2 Cloud Storage revenue surged by 48%, reaching $8.8 million. Despite this growth, the company faced a net loss of $(12.8) million, compared to $(6.0) million in Q3 2021. Annual recurring revenue increased by 24% to $88.0 million. Looking ahead, Q4 revenue is projected between $22.5 million and $22.9 million, with adjusted EBITDA margins also improving.
Backblaze, the independent storage cloud company, has announced a new partner program aimed at resellers, integrators, and managed service providers. This program features a self-service portal, reserve pricing, and dedicated support, facilitating easier cloud storage integration. Key benefits for partners include discounted pricing, training resources, and a recurring 10% commission model for managed service providers and affiliates. Backblaze aims to enhance cloud storage accessibility and effectiveness for partners, fostering stronger business relationships and expanding their customer reach.
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