Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Backblaze, Inc. (BLZE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.Backblaze, Inc. is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks ...

Backblaze, Inc. (BLZE) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investor ...

Backblaze (NASDAQ: BLZE) stock price formed a god candle on Friday as investors cheered its strong financial results. The shares jumped to a high of $11.85 on Friday, its highest point since February 22nd. It has risen in the past six straight weeks and has soared by over 220% from the lowest point in 2023. This rally has brought its total market cap to over $463 million. Backblaze is doing well but risks remainCopy link to sectionBackblaze is a technology company that provides cloud computing solutions to ...

Shares of Backblaze (BLZE 45.15%) roared 45.2% higher on Friday after the cloud storage platform announced stronger-than-expected quarterly results.Backblaze ends 2023 on a high note, led by B2 Cloud Storage growthFor its fourth-quarter 2023, Backblaze's revenue grew 25% year over year to $28.7 million, including a 47% increase to $14 million in B2 Cloud Storage revenue and a 10% bump to $14.7 million in Computer Backup segment sales. On the bottom line, that translated to an adjusted (non-GAAP) net loss of ...

Financial Data and Key Metrics Changes - The company achieved Q4 revenue of $28.7 million, representing a 25% year-over-year increase [44] - Adjusted EBITDA reached 6%, exceeding the previous guidance of 3% [25][68] - Cash usage was reduced to $2.4 million, significantly lower than the $9 million used in the prior quarter [69] Business Line Data and Key Metrics Changes - B2 cloud storage revenue was $14 million, reflecting a 47% year-over-year growth [44] - Computer backup revenue totaled $14.7 million, showing a 10% growth [44] - Net revenue retention (NRR) for B2 cloud storage was 122%, while computer backup NRR was 100% [29] Market Data and Key Metrics Changes - The company noted a 1% to 2% decline in licensed usage in the quarter, but customer retention remained high at 91% [52][67] - The company is increasingly focusing on larger businesses, moving upmarket to capture more significant deals [5][40] Company Strategy and Development Direction - The company is committed to driving the open cloud ecosystem, emphasizing interoperability and affordability [26][34] - A new enterprise control feature was launched to help larger customers manage backups for multiple computers [28][36] - The company is enhancing its sales approach and building a channel program to support larger deals [38][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the open cloud market, driven by businesses seeking cost-effective and flexible solutions [34][42] - The company aims to achieve cash flow breakeven by mid-2025, with a forecast of at least $20 million in cash by year-end 2024 [70] Other Important Information - The company introduced a new Chief Product Officer to enhance innovation and strategic leadership [37] - The company is focused on AI-related use cases and has partnered with GPU cloud providers to support these initiatives [62][95] Q&A Session Summary Question: What is the expected impact of price increases on churn? - Management reported no significant increase in churn following the price increase, maintaining a strong customer retention rate [74][67] Question: How is the company finding new upmarket customers? - The company is leveraging content marketing, community engagement, and channel partnerships to attract media and entertainment customers [80] Question: What are the company's expectations for gross margin in 2024? - The company expects gross margin to be in the upper 70% range for the full year, an improvement attributed to price increases [93]

Backblaze, Inc. (BLZE) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.05%. A quarter ago, it was expected that this company would post a loss of $0.22 per share when it actually produced a loss of $0.21, delivering a surprise of 4.55%.Over the last four quarters, the company has surpassed ...

Backblaze, Inc. (BLZE) shares soared 8.6% in the last trading session to close at $9.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.7% gain over the past four weeks.The upswing in share price came after the company introduced "Powered by Backblaze", a new program designed to enable businesses to integrate cloud storage into their services with greater ease. The program targets independent software vendors, technology part ...

SAN MATEO, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today announced the launch of Powered by Backblaze. This program helps independent software vendors (ISV), technology partners, and other companies take the complexity out of offering object storage within their branded user experience so that they can focus on enabling customer success and growing revenue. "Backblaze has built the leading specialized storage cloud," said Gleb Budman, C ...

SAN MATEO, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized cloud storage platform, will report financial results for its fourth quarter and fiscal year ending December 31, 2023 on Thursday, February 15, 2024 after market close. Following the release of results, Backblaze will host a conference call and webcast at 1:30 p.m. PT (4:30 p.m. ET) on February 15, 2024 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/twbh9cnvRegister to ...

SAN MATEO, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today announced that David Ngo has joined the company as Chief Product Officer (CPO). A Software as a Service (SaaS) data protection industry veteran with more than 25 years of global leadership experience, Ngo will spearhead the company's global product management function, shaping the strategy, crafting the technology roadmap and overseeing execution. Ngo previously served as the glob ...