Backblaze, Inc., a storage cloud platform, provides businesses and consumers with solutions to store, use, and protect the data worldwide. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, including backups, multi-cloud, application development, and ransomware protection. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides as a subscription-based Software-as-a-Service and serves use cases comprising computer backup, ransomware protection, theft and loss protection, and remote access. It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. The company was incorporated in 2007 and is headquartered in San Mateo, California.
IPO Year: 2021
Exchange: NASDAQ
Website: backblaze.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
2/18/2022 | $26.00 → $22.00 | Outperform | Raymond James |
12/6/2021 | $28.00 | Buy | Lake Street |
12/6/2021 | Outperform | William Blair | |
12/6/2021 | $26.00 | Outperform | Raymond James |
12/6/2021 | Outperform | Oppenheimer | |
12/6/2021 | $30.00 | Market Outperform | JMP Securities |
12/6/2021 | $29.00 | Buy | B. Riley Securities |
Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced that it has granted equity awards on November 29, 2024 as their new hire awards and a material inducement to employment by the Company of its recently hired Chief Financial Officer, Marc Suidan, and Chief Revenue Officer, Jason Wakeam. Backblaze granted Suidan and Wakeam inducement awards consisting of 300,000 and 112,740 restricted stock units ("RSUs"), respectively, under the Company's 2024 New Employee Equity Incentive Plan. Each RSU is convertible into one share of the Company's common stock upon vesting. The RSUs will vest 25% on the first annivers
Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced it will present a game-changing media production acceleration case study with the Philadelphia Eagles at the Sports Video Group (SVG) Summit Cloud Production Workshop on Dec. 16 in New York City. In a session entitled "Protecting QBs and PBs: Moving from tape to cloud for real-time production access and resiliency," Stacy Kelleher, Director of Production, Philadelphia Eagles, Ryan Lakey, Senior Solutions Architect & Technical Lead, systems integrator CHESA, and David Ngo, Chief Product Officer, Backblaze, will huddle up and break down how the team: G
Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the underwriters of its recently completed upsized public offering of shares of its Class A common stock (the "Common Stock"), which closed on November 22, 2024, have exercised in full their option to purchase an additional 937,500 shares of Common Stock. The additional shares of Common Stock were sold at a price to the public of $5.60, before underwriting discounts. The exercise of the underwriters' option to purchase additional shares of Common Stock closed on November 25, 2024 and brings the total net proceeds to Backblaze to $37.5 million, after deduc
Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the pricing of its upsized underwritten public offering of 6,250,000 shares of its Class A common stock (the "Common Stock") at a price to the public of $5.60 per share. Closing of the offering is expected to occur on November 22, 2024, subject to customary closing conditions. In addition, Backblaze has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of Common Stock at the public offering price less the underwriting discounts. Oppenheimer & Co. Inc. and Needham & Company, LLC are acting as joint book-running manag
Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the launch of a proposed follow-on public offering of $30,000,000 of shares of its Class A common stock (the "Common Stock"). In addition, Backblaze expects to grant the underwriters a 30-day option to purchase up to an additional $4,500,000 of shares of Common Stock from Backblaze at the public offering price less the underwriting discount. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Oppenheimer & Co. Inc. an
39% Revenue Growth in B2 Cloud Storage, 29% Revenue Growth Overall in Q3 2024 Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator delivering a modern alternative to traditional cloud providers, today announced results for its third quarter ended September 30, 2024. "I'm excited that we have kicked off a go-to-market transformation and continue to build our upmarket momentum with two multi-year deals each totaling approximately $1 million," said Gleb Budman, CEO of Backblaze. "We are also aggressively executing cost efficiencies throughout the organization to accelerate being adjusted free cash flow positive by Q4 2025." "I'm proud to share that our Adjusted EBITDA Margin for the q
SAN MATEO, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, and Opti9, an international leader in hybrid cloud solutions, today announced a partnership to bring the performance of Backblaze B2 Cloud Storage to Opti9's suite of managed service offerings and solutions. As part of the partnership, Backblaze announced plans to open a new data region in Canada. Opti9 will be the exclusive Canadian channel for Backblaze B2 Reserve and the Powered by Backblaze program. "Backblaze and Opti9 focus on empowering businesses with the best cloud solutions available," said Jim Ste
SAN MATEO, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, will report financial results for its third quarter ending September 30, 2024 on Thursday, November 7, 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 November 7, 2024 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/ywn46sgiRegister to listen by phone: https://dpregister.com/sreg/10192395/fd6964326b Phone registrants will receive dial-in information via email. An archive of the webcast wil
SAN MATEO, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced that Dave Cotten and Teresa Dodson joined the company's sales leadership team. "Adding these seasoned, senior-level sales leaders reinforces our commitment to delivering open cloud solutions that allow our customers to do more with their data," said Jason Wakeam, Chief Revenue Officer at Backblaze. "Dave and Teresa bring sales experience and a strategic approach to deepen relationships and better serve our customers and partners." The news follows the recent appointment of Jason Wakeam as the compan
SAN MATEO, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator delivering a modern alternative to traditional cloud providers, today announced results for its second quarter ended June 30, 2024. "Q2 marked another strong growth quarter for Backblaze, along with efficient execution driving continued margin expansion and momentum moving up-market," said Gleb Budman, CEO of Backblaze. "We continued our recent string of innovations with the launch of Backblaze B2 Live Read in June. This transformative, patent-pending feature enables customers to use their data during the upload process, which has unique value for live broadcast workflows. "Add
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SAN MATEO, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced that Dave Cotten and Teresa Dodson joined the company's sales leadership team. "Adding these seasoned, senior-level sales leaders reinforces our commitment to delivering open cloud solutions that allow our customers to do more with their data," said Jason Wakeam, Chief Revenue Officer at Backblaze. "Dave and Teresa bring sales experience and a strategic approach to deepen relationships and better serve our customers and partners." The news follows the recent appointment of Jason Wakeam as the compan
SAN MATEO, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced Marc Suidan is joining the company as Chief Financial Officer (CFO), effective August 16, 2024. "I am excited to welcome Marc as our Chief Financial Officer," said Gleb Budman, Backblaze CEO and Chairperson of the Board. "He has deep knowledge and experience strategically guiding companies through financial growth. His expertise and leadership will be a valuable asset as we empower customers to move to an open cloud and to do more with their data." Suidan brings to Backblaze more than 20 years of exp
SAN MATEO, Calif., July 23, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the appointment of Jason Wakeam as the company's first Chief Revenue Officer (CRO). An industry veteran with nearly three decades of global leadership experience, Wakeam brings a proven track record of driving growth and innovation at technology companies. Wakeam previously served as a vice president of global sales at SnapLogic. He has also held leadership roles in a range of public and private companies including Cloudera, Microsoft, and Hewlett-Packard. In his new role, Wakeam will spearhead the co
SAN MATEO, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator delivering a modern alternative to traditional cloud providers, is set to join the broad-market Russell 3000® and small-cap Russell 2000® Indexes in connection with the Russell U.S. Indexes annual reconstitution, effective Monday, July 1, 2024. "Our inclusion in the Russell Indexes represents another milestone in the company's growth trajectory," said Gleb Budman, CEO of Backblaze. "We are committed to delivering innovative cloud storage for businesses around the world and increasing shareholder value in this $50 billion market." The Russell Indexes are widely used by investmen
SYDNEY, Australia, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Omniscient Neurotechnology, the brain mapping company creating new possibilities in brain health, today announced the appointment of Barbara Nelson and Surbhi Sarna to its board of directors. Both appointees are visionaries across the biotech, healthcare and technology industries and bring a unique perspective to the company's corporate strategy and growth. They, along with the existing board members, will strategically guide Omniscient as it develops products that unlock new insights into advanced brain care. "Omniscient is a global leader in connectomics, but we have much work ahead of us to scale to our full potential," said Chairma
SAN MATEO, Calif., July 21, 2022 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), today announced that Kevin Gavin has joined the company as chief marketing officer (CMO) to lead the company's marketing efforts. The addition of a seasoned CMO furthers the company's scaling of its growth initiatives following its recent IPO in November, 2021. Gavin brings extensive marketing and public company experience as CMO and expands Backblaze's in-house expertise to deepen the company's customer engagement and grow its brand awareness. "Kevin is a forward-thinking CMO with a proven track record of leading teams at high-growth companies," said Gleb Budman, Backblaze CEO and Chairperson of the Boar
Raymond James reiterated coverage of Backblaze with a rating of Outperform and set a new price target of $22.00 from $26.00 previously
Lake Street initiated coverage of Backblaze with a rating of Buy and set a new price target of $28.00
William Blair initiated coverage of Backblaze with a rating of Outperform
Raymond James initiated coverage of Backblaze with a rating of Outperform and set a new price target of $26.00
Oppenheimer initiated coverage of Backblaze with a rating of Outperform
JMP Securities initiated coverage of Backblaze with a rating of Market Outperform and set a new price target of $30.00
B. Riley Securities initiated coverage of Backblaze with a rating of Buy and set a new price target of $29.00
39% Revenue Growth in B2 Cloud Storage, 29% Revenue Growth Overall in Q3 2024 Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator delivering a modern alternative to traditional cloud providers, today announced results for its third quarter ended September 30, 2024. "I'm excited that we have kicked off a go-to-market transformation and continue to build our upmarket momentum with two multi-year deals each totaling approximately $1 million," said Gleb Budman, CEO of Backblaze. "We are also aggressively executing cost efficiencies throughout the organization to accelerate being adjusted free cash flow positive by Q4 2025." "I'm proud to share that our Adjusted EBITDA Margin for the q
SAN MATEO, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, will report financial results for its third quarter ending September 30, 2024 on Thursday, November 7, 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 November 7, 2024 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/ywn46sgiRegister to listen by phone: https://dpregister.com/sreg/10192395/fd6964326b Phone registrants will receive dial-in information via email. An archive of the webcast wil
SAN MATEO, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator delivering a modern alternative to traditional cloud providers, today announced results for its second quarter ended June 30, 2024. "Q2 marked another strong growth quarter for Backblaze, along with efficient execution driving continued margin expansion and momentum moving up-market," said Gleb Budman, CEO of Backblaze. "We continued our recent string of innovations with the launch of Backblaze B2 Live Read in June. This transformative, patent-pending feature enables customers to use their data during the upload process, which has unique value for live broadcast workflows. "Add
SAN MATEO, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, will report financial results for its second quarter ending June 30, 2024 on Thursday, August 8, 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 August 8, 2024 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/47dcvumdRegister to listen by phone: https://dpregister.com/sreg/10190613/fcff4b25e9 Phone registrants will receive dial-in information via email. An archive of the webcast will be ava
SAN MATEO, Calif., May 08, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), a leading specialized storage cloud platform, today announced results for its first quarter ended March 31, 2024. "We had a record start to 2024, with dramatically improved financial metrics year over year including Q1 revenue growth of 28% compared to 20%, and adjusted EBITDA margin of 6% versus -12%," said Gleb Budman, CEO of Backblaze. "Additionally, we continued to deliver innovative products with the recent introduction of Event Notifications, a powerful service that enables customers to build automated workflows using open cloud providers." First Quarter 2024 Financial Highlights: Revenue of $30.0 m
SAN MATEO, Calif., April 17, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized cloud storage platform, will report financial results for its first quarter ending March 31, 2024 on Wednesday, May 8, 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 May 8, 2024 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/5kr5u64iRegister to listen by phone: https://dpregister.com/sreg/10187654/fc08c68b54 Phone registrants will receive dial-in information via email. An archive of the webcast will be available shortly after its completion on the Inve
SAN MATEO, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), a leading specialized storage cloud platform, today announced results for its fourth quarter and year ended December 31, 2023. "Backblaze capped off a strong finish to the year with our B2 Cloud Storage revenue growing 47% in Q4 and delivered adjusted EBITDA profitability for the first time as a public company," said Gleb Budman, CEO of Backblaze. "We exited 2023 with accelerated revenue growth and dramatically improved profitability and cash usage metrics. I'm excited for the coming year as Backblaze continues to move up in the mid-market and help customers who are poorly served by legacy solutions to b
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 listen by phone: https://dpregister.com/sreg/10185341/fb4e51bda7 Phone registrants will receive dial-in information via email. An archive of the webcast will be available shortly af
SAN MATEO, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud, today announced results for its third quarter ended September 30, 2023. "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. 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. "Looking ahead, our recent price increase supports c
SAN MATEO, Calif., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Backblaze, Inc. (NASDAQ:BLZE), the leading specialized storage cloud platform, will report financial results for its third quarter ending September 30, 2023 on Wednesday, November 8, 2023 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 November 8, 2023 to discuss the results. Attend the webcast: https://edge.media-server.com/mmc/p/9i5mex99Register to listen by phone: https://dpregister.com/sreg/10182596/fa72df8918 Phone registrants will receive dial-in information via email. An archive of the webcast will be available shortly after its completio
Backblaze, Inc. (NASDAQ:BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced a new partnership with Active Cyber Insurance provider Coalition to help businesses proactively reduce their cyber risk. The partnership provides Coalition's customers with direct access to Backblaze Computer Backup, an enterprise-grade, unlimited, and automatic endpoint backup solution, via the Coalition Control® cyber risk management platform.
Gainers Zapata Computing Holdings (NASDAQ:ZPTA) stock moved upwards by 7.0% to $0.9 during Monday's after-market session. The market value of their outstanding shares is at $28.7 million. Quantum (NASDAQ:QMCO) shares moved upwards by 4.99% to $0.51. The market value of their outstanding shares is at $48.3 million. Pagaya Techs (NASDAQ:PGY) shares moved upwards by 4.92% to $11.72. The company's market cap stands at $830.9 million. Backblaze (NASDAQ:BLZE) stock moved upwards by 4.86% to $6.47. The company's market cap stands at $268.3 million. ReAlpha Tech Corp (NASDAQ:AIRE) stock increased by 3.92% to $1.06. The company's market cap stands at $46.7 million. MicroAlgo (NASDAQ:MLGO) stock
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Financial Outlook:Based on information available as of the date of this press release,For the second quarter of 2024 we expect:Revenue between $30.7 million to $31.1 millionAdjusted EBITDA margin between 6% to 8%Basic shares outstanding of 42.0 million to 42.5 million sharesFor full-year 2024 we expect:Revenue between $126.0 million to $128.0 millionAdjusted EBITDA margin between 8% to 10%
Backblaze (NASDAQ:BLZE) reported quarterly losses of $(0.14) per share which beat the analyst consensus estimate of $(0.29) by 51.72 percent. This is a 46.15 percent increase over losses of $(0.26) per share from the same period last year. The company reported quarterly sales of $29.968 million which beat the analyst consensus estimate of $29.741 million by 0.76 percent. This is a 28.10 percent increase over sales of $23.394 million the same period last year.
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During the last three months, 4 analysts shared their evaluations of Backblaze (NASDAQ:BLZE), revealing diverse outlooks from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 0 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 2 0 0 0 In the assessment of 12-month price targets, analysts unveil insights for Backblaze, presenting an average target of $12.25, a high estimate of $14.00, and a low estimate of $11.00. Marking an increase of 23.9
Oppenheimer analyst Ittai Kidron maintains Backblaze (NASDAQ:BLZE) with a Outperform and raises the price target from $11 to $13.