9/3/2023 0 Comments Backblaze storage![]() These forward-looking statements are frequently identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "plan," "possible," "potential," "predict," "project," "should," "target," "will," "would," or other similar terms or expressions that relate to our future performance, expectations, strategy, plans or intentions, and include statements in the section titled "Financial Outlook" and statements regarding the use and impact of our IPO proceeds. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. For more information, please go to Cautionary Note Regarding Forward-looking Statements Founded in 2007, the company is based in San Mateo, CA. With over two billion gigabytes of data storage under management, the company currently works with over 500,000 customers in over 175 countries. The Backblaze Storage Cloud provides a foundation for businesses, developers, IT professionals, and individuals to build applications, host content, manage media, back up and archive data, and more. īackblaze makes it astonishingly easy to store, use, and protect data. Phone registrants will receive dial-in information via email.Īn archive of the webcast will be available shortly after its completion on the Investor Relations section of the Backblaze website at. ET) to review its financial results.Īttend the webcast here: Register to listen by phone here: Revenue between $98 million to $102 millionĪdjusted EBITDA margin between (10)% to (6)%īackblaze will host a conference call today, at 1:30 p.m. Revenue between $24.1 million to $24.5 millionĪdjusted EBITDA margin between (11)% to (7)%īasic weighted average shares outstanding of 34.5 million to 36.5 million sharesįor full-year 2023 we continue to expect: New York Times Accolade: Wirecutter product recommendation service again selected Backblaze Computer Backup as the #1 PC backup serviceīased on information available as of May 9, 2023,įor the second quarter of 2023 we expect:.Achieved SOC 2 Type 2 Certification: Reinforces Backblaze's commitment to keeping data secure.Expanded Partnership with Vultr: New co-marketing efforts to advance joint solution of B2 Cloud Storage and Vultr's compute services.B2 Cloud Storage Self-Serve: Best quarter of B2 Cloud Storage self-serve customer additions in a year.B2 Reserve: In April, channel-friendly prepaid offering generated over $1 million in ARR after approximately 1 year.Gross customer retention rate was 91% in Q1 2023 and Q1 2022.ī2 Cloud Storage gross customer retention rate was 90% in Q1 2023 and Q1 2022.Ĭomputer Backup gross customer retention rate was 90% compared to 91% in Q1 2022. Net revenue retention (NRR) rate was 111% compared to 113% in Q1 2022.ī2 Cloud Storage NRR was 120% compared to 131% in Q1 2022.Ĭomputer Backup NRR was 106% compared to 105% in Q1 2022. Non-GAAP net loss per share of $0.26 compared to a non-GAAP net loss per share of $0.28 in Q1 2022.įirst Quarter 2023 Operational Highlights:Īnnual recurring revenue (ARR) was $95.9 million, an increase of 21% YoY.ī2 Cloud Storage ARR was $41.7 million, an increase of 47% YoY.Ĭomputer Backup ARR was $54.2 million, an increase of 7% YoY. Non-GAAP net loss of $9.0 million compared to non-GAAP net loss of $8.7 million in Q1 2022. ![]() Net loss per share of $0.50 compared to a net loss per share of $0.41 in Q1 2022.Ĭash, short-term investments and restricted cash, non-current totaled $56.9 million as of March 31, 2023.Īdjusted EBITDA of $(2.9) million, or (12)% of revenue, compared to $(3.0) million and (15)% of revenue in Q1 2022. Net loss of $17.1 million compared to a net loss of $12.5 million in Q1 2022. Gross profit of $11.0 million, or 47% of revenue, compared to $9.8 million and 50% of revenue, in Q1 2022.Īdjusted gross profit of $17.0 million, or 72% of revenue, compared to $14.8 million and 76% of revenue in Q1 2022. Revenue of $23.4 million, an increase of 20% year-over-year (YoY).ī2 Cloud Storage revenue was $10.0 million, an increase of 42% YoY.Ĭomputer Backup revenue was $13.4 million, an increase of 8% YoY.
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