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Sep 30, 2023
Backblaze Q3 2023 Earnings Report
Announced third quarter 2023 financial results with 31% revenue growth in B2 Cloud Storage and 15% revenue growth overall.
Key Takeaways
Backblaze reported a 15% year-over-year increase in revenue, reaching $25.3 million, and passed $100 million in ARR milestone. The company is on track to achieve adjusted EBITDA profitability in Q4.
Revenue increased by 15% year-over-year, reaching $25.3 million.
B2 Cloud Storage revenue grew by 31% year-over-year, totaling $11.6 million.
ARR reached $100.9 million, a 15% year-over-year increase.
Net revenue retention rate was 108%.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2023, Backblaze expects revenue between $27.9 million to $28.7 million and adjusted EBITDA margin between 1% to 3%.
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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