Backblaze Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits, Other Events
$BLZE
Computer Software: Prepackaged Software
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 205490
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 2.02 Results of Operations and Financial Condition.
On November 7, 2024, Backblaze, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01 Other Events.
On November 7, 2024, the Company announced actions to improve its cost structure and operating efficiency (the “2024 Restructuring Plan”). The 2024 Restructuring Plan includes a reduction in headcount of approximately 12% of the Company’s workforce. The Company expects to incur expenses related to employee severance and benefits, the majority of which is expected to be in the form of accelerated restricted stock units of previously granted awards and other equity modifications. In addition, as part of the 2024 Restructuring Plan, the Company plans to reduce its footprint at its office facilities. The 2024 Restructuring Plan is expected to be substantially completed by the end of the year.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||||||||||||||||||||
| 99.1 | ||||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |||||||||||||||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | November 7, 2024 | Backblaze, Inc. | |||||||||
| By: | /s/ Marc Suidan | ||||||||||
| Marc Sudain, Chief Financial Officer | |||||||||||