Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Backblaze (BLZE)
NASDAQ:BLZE
Holding BLZE?
Track your performance easily
Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.09Last Year’s EPS
-$0.15Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -19.25%
|Next Earnings Date:Feb 13, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant revenue growth, record sales achievements, and strategic partnerships, especially in the AI and Canadian markets. However, the call also noted some challenges with B2 Cloud Storage churn and workforce reductions. On balance, the positive developments and future growth plans outweigh the lowlights.Company Guidance
In the third quarter of 2024, Backblaze reported a 29% revenue growth, with B2 Cloud Storage revenue rising by 39% and an adjusted EBITDA margin hitting a record 12%. The company is focused on two major initiatives: driving revenue growth and enhancing cost efficiencies. Backblaze plans to complete its go-to-market transformation by the end of Q1 2025, aiming for accelerated revenue growth starting in Q2 2025. The company targets being free cash flow positive by Q4 2025, with a long-term goal of achieving a Rule of 40 status. The initiatives, including a 12% workforce reduction, are expected to reduce year-over-year run-rate costs by over $8 million, allowing reinvestment into sales capacity. Q3 gross customer retention was 90%, with net revenue retention at 118%. Backblaze aims for 2025 revenue to reach $127 million to $128 million, with Q4 2025 expected to have an adjusted EBITDA margin around 20%.Revenue Growth and B2 Cloud Storage Performance
Revenue grew 29% year-over-year with B2 Cloud Storage growing 39%. Adjusted EBITDA margin reached a record 12% since going public.
Record Sales Pipeline and Multiyear Deals
The team booked a record amount of annual contract value wins and signed two multiyear deals, each totaling approximately $1 million.
New Data Center and Partnership in Canada
Announced the opening of a new data center region in Canada and a partnership with Opti9, expanding the market and meeting Canadian data sovereignty requirements.
AI Customer Growth
Data stored by AI customers more than doubled year-over-year, with three AI customers contributing over $0.5 million in annual revenue.
Improved Cash Flow and Cost Management
Year-over-year run rate costs expected to decrease by over $8 million, with adjusted free cash flows showing a $22 million improvement.
---
BLZE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
BLZE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $7.95 | $6.86 | -13.71% |
| Aug 08, 2024 | $5.19 | $6.46 | +24.47% |
| May 08, 2024 | $9.91 | $7.50 | -24.32% |
| Feb 15, 2024 | $8.15 | $11.83 | +45.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Backblaze (BLZE) report earnings?
Backblaze (BLZE) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is Backblaze (BLZE) earnings time?
Backblaze (BLZE) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BLZE EPS forecast?
BLZE EPS forecast for the fiscal quarter 2024 (Q4) is -$0.09.
---