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Mar 31, 2023
Backblaze Q1 2023 Earnings Report
Announced Q1 2023 financial results with strong revenue growth in B2 Cloud Storage and overall.
Key Takeaways
Backblaze reported a 20% year-over-year increase in revenue, reaching $23.4 million. B2 Cloud Storage revenue grew by 42% year-over-year to $10.0 million. The company aims to approach Adjusted EBITDA breakeven in Q4 2023.
Revenue increased by 20% year-over-year, reaching $23.4 million.
B2 Cloud Storage revenue grew by 42% year-over-year, totaling $10.0 million.
Computer Backup revenue increased by 8% year-over-year, reaching $13.4 million.
Gross profit was $11.0 million, representing 47% of revenue.
Revenue by Segment
Forward Guidance
For the second quarter of 2023, Backblaze expects revenue between $24.1 million and $24.5 million, and an Adjusted EBITDA margin between (11)% and (7)%. For the full year 2023, the company continues to expect revenue between $98 million and $102 million, and an Adjusted EBITDA margin between (10)% and (6)%.
Positive Outlook
- Revenue between $24.1 million to $24.5 million for Q2 2023
- Adjusted EBITDA margin between (11)% to (7)% for Q2 2023
- Revenue between $98 million to $102 million for full year 2023
- Adjusted EBITDA margin between (10)% to (6)% for full year 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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