![]() Released Backblaze Computer Backup 9.0: Announced security and performance upgrades as well as one of the most requested computer backup features, a new restore app to further simplify the backup process Presented Tech Day with Industry Leaders: Coreweave, Fastly, and Snowflake co-presented solutions at Backblaze Tech Day to showcase to IT administrators and developers how specialized cloud solutions accelerate their business growthĮxpanded Partnerships: B2 Cloud Storage is now integrated with partners HYCU and Qencode to reach new customers and markets Signed Largest Multi-Year Commitment: Signed a multi-year, upfront $1 million customer commitment through one of our channel partners Launched Expanded Offerings and Price Increase: Offerings including free egress, extended functionality, and other upgrades Upgraded B2 Cloud Storage Performance: Innovated storage architecture with "shard stash" to deliver upload speeds of small files (1MB or less) up to 30% faster than Amazon S3 Gross customer retention rate was 91% in Q3 2023 and Q3 2022.ī2 Cloud Storage gross customer retention rate was 90% in Q3 2023 and Q3 2022.Ĭomputer Backup gross customer retention rate was 91% in Q3 2023 compared to 90% in Q3 2022Ĭrossed $100 Million in ARR: Accomplished a key milestone with predictable and scalable growthĬontinued Driving Significant Cost Efficiencies: Improved adjusted EBITDA by over 50% year on year ![]() Net revenue retention (NRR) rate was 108% compared to 115% in Q3 2022.ī2 Cloud Storage NRR was 120% compared to 125% in Q3 2022.Ĭomputer Backup NRR was 100% compared to 109% in Q3 2022. Third Quarter 2023 Operational Highlights:Īnnual recurring revenue (ARR) was $100.9 million, an increase of 15% YoY.ī2 Cloud Storage ARR was $46.8 million, an increase of 31% YoY.Ĭomputer Backup ARR was $54.1 million, an increase of 3% YoY. Non-GAAP net loss per share of $0.21 compared to a non-GAAP net loss per share of $0.25 in Q3 2022.Ĭash, short-term investments and restricted cash, current totaled $35.8 million as of September 30, 2023. Non-GAAP net loss of $7.8 million compared to non-GAAP net loss of $8.0 million in Q3 2022. Net loss per share of $0.44 compared to a net loss per share of $0.40 in Q3 2022.Īdjusted EBITDA of $(0.8) million, or (3%) of revenue, compared to $(1.9) million and (8%) of revenue in Q3 2022. Net loss of $16.1 million compared to a net loss of $12.8 million in Q3 2022. Gross profit of $11.8 million, or 46% of revenue, compared to $11.2 million and 51% of revenue, in Q3 2022.Īdjusted gross profit of $18.7 million, or 74% of revenue, compared to $16.7 million and 76% of revenue in Q3 2022. Revenue of $25.3 million, an increase of 15% year-over-year (YoY).ī2 Cloud Storage revenue was $11.6 million, an increase of 31% YoY.Ĭomputer Backup revenue was $13.7 million, an increase of 4% YoY. ![]() “Looking ahead, our recent price increase supports continued investments in the platform and positions us for profitable growth while continuing to offer customers a compelling and cost effective storage solution.” As part of our leadership in the open cloud movement, we recently added free egress, significant performance improvements, and new functionality to increasingly support our customers’ ability to break free from limitations on their data,” said Gleb Budman, CEO of Backblaze. “In Q3, we passed the $100 million in ARR milestone and are on track to achieve adjusted EBITDA profitability in Q4 through continued strong growth and efficient execution. (Nasdaq: BLZE), the leading specialized storage cloud, today announced results for its third quarter ended September 30, 2023. 08, 2023 (GLOBE NEWSWIRE) - Backblaze, Inc. 31% Revenue Growth in B2 Cloud Storage, 15% Revenue Growth Overall in Q3 2023
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