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 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.
Backblaze (NASDAQ: BLZE), a leading independent storage cloud company, announced the appointment of Dr. Brian Beach as Chief Technology Officer (CTO) effective November 7, 2022. Brian Wilson, the previous CTO, transitions to an advisory role after 15 years of service. Brian Beach, a key figure at Backblaze since 2013, is recognized for his instrumental role in developing storage solutions and system architecture. The leadership change aims to enhance Backblaze's growth and innovation trajectory as it continues to serve over 500,000 customers globally.
Backblaze (BLZE) announced preliminary Q3 2022 results, indicating revenue between $22.0 million to $22.1 million, exceeding guidance of $21.4 million to $21.8 million. Adjusted EBITDA margin is projected to range from (9)% to (8)%, better than the prior forecast of (18)% to (14)%. Company attributes growth to a 45% year-over-year increase in Backblaze B2 Cloud Storage. Full financial results will be published on November 9, 2022.
Backblaze, Inc. (Nasdaq: BLZE) has appointed Robert Fitt as its new Chief Human Resources Officer (CHRO) to enhance HR functions including talent management, culture, and diversity efforts.
Fitt's experience spans over 20 years in HR leadership across various organizations. His role is crucial in supporting Backblaze's growth post-IPO, ensuring effective organizational design and employee engagement. The company, known for its strong workplace culture, aims to further its mission of making data storage easy and accessible.
Backblaze (NASDAQ: BLZE) has partnered with Stockperks to launch a Shareholder Perks Program, enhancing community engagement and providing exclusive rewards for investors. Current shareholders can access discounts on Backblaze's cloud services and branded merchandise through the Stockperks app. This initiative aims to create a stronger relationship between Backblaze and its retail investors. Backblaze continues to grow its customer base, currently servicing over 500,000 users globally. This partnership highlights Backblaze's commitment to fostering community among its shareholders.
Backblaze (Nasdaq: BLZE), a leader in independent storage cloud solutions, will present at the Sidoti September Small Cap Virtual Investor Conference on September 21, 2022, from 10:45 to 11:15 am PT. Co-founder and CEO Gleb Budman along with CFO Frank Patchel will lead the presentation via webcast. Investors can access the event through Backblaze’s investor relations website, with an archived version available for 90 days post-event. Backblaze manages over two billion gigabytes of data for more than 500,000 customers globally.
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