NASDAQ$BLZE
Backblaze Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2022 financial results, highlighted by revenue growth and strategic initiatives.
Backblaze reported a strong Q4 2022 with a 23% increase in overall revenue, driven by a 44% growth in B2 Cloud Storage revenue. The company is moderating expense growth and targeting adjusted EBITDA breakeven in Q4 of the following year.
- Total revenue was $22.9 million, representing a 23% year-over-year increase.
- B2 Cloud Storage revenue reached $9.5 million, a 44% year-over-year increase.
- Gross profit was $11.7 million, which is 51% of the revenue.
- Net loss amounted to $14.8 million, resulting in a net loss per share of $0.45.
Headline financials
Revenue & EPS history
Backblaze · Revenue · Quarterly
$22.9M
Revenue by segment
Backblaze · $22.8M total across 2 segments · Q4 2022
- Computer Backup$13.3M+11.8%58.3%
- B2 Cloud Storage$9.5M+43.9%41.7%
Forward guidance
For the first quarter of 2023, Backblaze expects revenue between $23.1 million and $23.5 million, and an adjusted EBITDA margin between (15)% to (11)%. For the full year 2023, the company anticipates revenue between $98 million and $102 million, with an adjusted EBITDA margin between (10)% to (6)%.
Tailwinds
- Revenue between $23.1 million to $23.5 million for Q1 2023.
- Adjusted EBITDA margin between (15)% to (11)% for Q1 2023.
- Revenue between $98 million to $102 million for full-year 2023.
- Adjusted EBITDA margin between (10)% to (6)% for full-year 2023.
- Basic shares outstanding of 33.5 to 35.5 million shares.
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 Q4 2022
-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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