NASDAQ$BLZE
Backblaze Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Backblaze's Q2 2023 financial results were announced, demonstrating growth in revenue and customer base.
Backblaze reported a 19% increase in overall revenue year-over-year, with B2 Cloud Storage revenue growing by 39%. The company continued to move up-market, increasing the number of customers generating over $50,000 in annual recurring revenue by 54% year-over-year.
- Total revenue reached $24.6 million, a 19% increase year-over-year.
- B2 Cloud Storage revenue grew by 39% year-over-year, reaching $10.8 million.
- Gross profit was $12.1 million, representing 49% of revenue.
- ARR was $97.3 million, an increase of 18% year-over-year.
Headline financials
Revenue & EPS history
Backblaze · Revenue · Quarterly
$24.6M
Revenue by segment
Backblaze · $24.6M total across 2 segments · Q2 2023
- Computer Backup$13.8M+7.8%56.1%
- B2 Cloud Storage$10.8M+40.3%43.9%
Forward guidance
Backblaze provided financial outlook for the third quarter and full year 2023.
Tailwinds
- Revenue is expected to be between $25.0 million to $25.4 million for Q3 2023.
- Adjusted EBITDA margin is projected to be between (8)% to (4)% for Q3 2023.
- Revenue is expected to be between $98 million to $102 million for the full year 2023 (unchanged).
- Adjusted EBITDA margin is projected to be between (8.5)% to (4.5)% for the full year 2023 (improved versus the prior range of (10)% to (6)%).
- Basic weighted average shares outstanding of 36.5 million to 37.5 million shares for Q3 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 Q2 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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