Backblaze's Q4 2023 saw a 25% year-over-year revenue increase, with B2 Cloud Storage revenue growing by 47%. The company achieved adjusted EBITDA profitability for the first time as a public company.
Revenue increased by 25% year-over-year, reaching $28.7 million.
B2 Cloud Storage revenue grew by 47% year-over-year, totaling $14.0 million.
The company achieved adjusted EBITDA profitability, with $1.6 million or 6% of revenue.
Annual recurring revenue (ARR) was $117.6 million, an increase of 28% year-over-year.
For the first quarter of 2024, Backblaze expects revenue between $29.6 million and $30.0 million, and an adjusted EBITDA margin between 4% and 6%. For the full year 2024, the company anticipates revenue between $126.0 million and $128.0 million, with an adjusted EBITDA margin between 8% and 10%.
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