NASDAQ$BLZE
Backblaze Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Announced Q1 2023 financial results with strong revenue growth in B2 Cloud Storage and overall.
Backblaze reported a 20% year-over-year increase in revenue, reaching $23.4 million. B2 Cloud Storage revenue grew by 42% year-over-year to $10.0 million. The company aims to approach Adjusted EBITDA breakeven in Q4 2023.
- Revenue increased by 20% year-over-year, reaching $23.4 million.
- B2 Cloud Storage revenue grew by 42% year-over-year, totaling $10.0 million.
- Computer Backup revenue increased by 8% year-over-year, reaching $13.4 million.
- Gross profit was $11.0 million, representing 47% of revenue.
Headline financials
Revenue & EPS history
Backblaze · Revenue · Quarterly
$23.4M
Revenue by segment
Backblaze · $23.4M total across 2 segments · Q1 2023
- Computer Backup$13.4M+8.9%57.3%
- B2 Cloud Storage$10M+42.9%42.7%
Forward guidance
For the second quarter of 2023, Backblaze expects revenue between $24.1 million and $24.5 million, and an Adjusted EBITDA margin between (11)% and (7)%. For the full year 2023, the company continues to expect revenue between $98 million and $102 million, and an Adjusted EBITDA margin between (10)% and (6)%.
Tailwinds
- Revenue between $24.1 million to $24.5 million for Q2 2023
- Adjusted EBITDA margin between (11)% to (7)% for Q2 2023
- Revenue between $98 million to $102 million for full year 2023
- Adjusted EBITDA margin between (10)% to (6)% for full year 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-3.2%
Avg return
Earnings day
-1.9%
Avg return
5 days after
-5.3%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+42.7%
Q4 2023
Best reaction
-35.7%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.5% | +68.1% | +78.4% | |
| Q4 2025 | -15.3% | -14.0% | -19.7% | |
| Q3 2025 | -6.3% | -12.0% | -19.3% | |
| Q1 2025 | +16.0% | +17.9% | +25.7% | |
| Q4 2024 | +5.5% | -5.1% | -21.5% | |
| Q3 2024 | -14.1% | -13.0% | -13.9% | |
| Q2 2024 | +26.4% | +24.1% | +12.5% | |
| Q1 2024 | -23.3% | -25.3% | -38.4% | |
| Q4 2023 | +42.7% | +41.6% | +21.1% | |
| Q3 2023 | +1.8% | +7.5% | +43.3% | |
| Q2 2023 | -14.8% | -14.8% | +34.4% | |
| Q1 2023 | -1.4% | +2.4% | -2.2% | |
| Q4 2022 | +13.8% | +2.0% | -17.0% | |
| Q3 2022 | -5.5% | +3.2% | +11.2% | |
| Q2 2021 | -3.6% | -3.2% | -17.9% | |
| Q2 2022 | +1.6% | +9.2% | -11.2% | |
| Q1 2021 | -7.8% | -5.2% | -9.8% | |
| Q1 2022 | -24.7% | -32.3% | -40.1% | |
| Q4 2021 | -35.7% | -32.4% | -25.9% | |
| Q4 2020 | -12.8% | -19.7% | -36.7% | |
| Q3 2020 | -12.8% | -19.7% | -36.7% | |
| Q3 2021 | -4.6% | -20.4% | -33.2% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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