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 (Nasdaq: BLZE) and CTERA have partnered to offer a cloud-based solution addressing challenges in on-premises data growth and security threats. This collaboration provides IT admins with a modern cloud file storage option that enhances traditional NAS capabilities, enabling tasks like remote workforce empowerment and efficient disaster recovery. The solution comes at a significantly lower cost than existing alternatives, optimizing budgets while improving data management.
Backblaze (Nasdaq: BLZE) has publicly opened its Bugcrowd Bug Bounty Program to all security researchers. This initiative reflects Backblaze's commitment to enhancing cybersecurity, following its investments in security upgrades like server-side encryption for its B2 Cloud Storage API. The company has doubled its Security team over the past year under CISO Mark Potter's leadership. The program aims to identify and mitigate vulnerabilities by engaging ethical hackers, aligning with best practices in an evolving threat landscape.
Backblaze has announced a new Postman Collection for its S3 Compatible API, enhancing accessibility for developers. This initiative aims to simplify API usage with robust documentation available on Postman, facilitating easier onboarding for developers. The integration allows for quick interaction with B2 Cloud Storage through a one-click 'Run in Postman' feature. Backblaze continues to support the developer community, having established various resources since launching the S3 API in 2020. The company serves around 500,000 customers globally, managing over 2 billion gigabytes of data.
Backblaze reported a 28% revenue growth for Q4 2021, totaling $18.7 million. The B2 Cloud Storage segment showed impressive 56% growth with revenues of $6.6 million in Q4. Overall, 2021 revenues reached $67.5 million (+25% YoY). However, the company faced a net loss of $9.6 million in Q4, worsening from a loss of $3.4 million in Q4 2020. Looking ahead, Backblaze projects 2022 revenues between $83 million and $86 million.
Backblaze (Nasdaq: BLZE) announced an initiative allowing retail investors to submit questions for the upcoming Q4 2021 earnings call on February 17, 2022. Through a partnership with Say Technologies, investors can upvote questions to ensure management addresses key concerns during the call. The submission window is open until February 16, 2022. CEO Gleb Budman emphasized the importance of transparency and engagement with all investors. Backblaze, with nearly two exabytes of data storage and close to 500,000 customers globally, highlights its commitment to becoming a leading independent cloud storage provider.
Backblaze, Inc. (NASDAQ: BLZE) announced it will report its fourth quarter 2021 financial results on February 17, 2022, after the market closes. The company will host a conference call and webcast at 2 p.m. PT to discuss these results. Backblaze specializes in cloud storage solutions and serves approximately 500,000 customers globally. The company has amassed nearly two exabytes of data storage and has its headquarters in San Mateo, California.
Backblaze (BLZE) has announced a new partnership with Kasten by Veeam to enhance disaster recovery and business continuity for Kubernetes applications. This collaboration allows companies to back up and restore their Kubernetes applications using Backblaze's B2 Cloud Storage service. Key features include protection against ransomware, regulatory compliance support, and enterprise-grade scalability. Organizations only pay for the storage they use, with no penalties for deleting past backups. This solution aims to address the growing need for robust data protection amid increasing cyber threats.
Backblaze, Inc. (Nasdaq: BLZE) reported strong third quarter results, achieving a 25% revenue growth year-over-year with total revenue of $17.3 million. Notably, B2 Cloud Storage revenue surged 59% YoY, reaching $6.0 million, while Computer Backup revenue increased by 13% to $11.2 million. The company posted a net loss of $6.0 million and adjusted EBITDA of $0.8 million. Annual recurring revenue rose by 28% to $70.8 million, with a net revenue retention rate of 110%. The financial outlook for Q4 2021 projects revenue between $17.7 million and $18.2 million.
Backblaze, Inc. (BLZE) will report its fiscal Q3 2021 financial results on December 13, 2021, after market close. This report is notably delayed as it follows the company's IPO on November 10, 2021. A conference call will take place at 2 p.m. PT to discuss these results, with a webcast available for attendees. Backblaze, a cloud storage platform, provides data management services globally, managing nearly two exabytes of data for clients in over 175 countries since its founding in 2007.
Backblaze, a prominent cloud storage provider, has priced its initial public offering (IPO) at
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