![]() Net revenue retention (NRR) rate was 111% compared to 113% in Q1 2022.ī2 Cloud Storage NRR was 120% compared to 131% in Q1 2022.Ĭomputer Backup NRR was 106% compared to 105% in Q1 2022. Non-GAAP net loss per share of $0.26 compared to a non-GAAP net loss per share of $0.28 in Q1 2022.įirst Quarter 2023 Operational Highlights:Īnnual recurring revenue (ARR) was $95.9 million, an increase of 21% YoY.ī2 Cloud Storage ARR was $41.7 million, an increase of 47% YoY.Ĭomputer Backup ARR was $54.2 million, an increase of 7% YoY. Non-GAAP net loss of $9.0 million compared to non-GAAP net loss of $8.7 million in Q1 2022. Net loss per share of $0.50 compared to a net loss per share of $0.41 in Q1 2022.Ĭash, short-term investments and restricted cash, non-current totaled $56.9 million as of March 31, 2023.Īdjusted EBITDA of $(2.9) million, or (12)% of revenue, compared to $(3.0) million and (15)% of revenue in Q1 2022. Net loss of $17.1 million compared to a net loss of $12.5 million in Q1 2022. Gross profit of $11.0 million, or 47% of revenue, compared to $9.8 million and 50% of revenue, in Q1 2022.Īdjusted gross profit of $17.0 million, or 72% of revenue, compared to $14.8 million and 76% of revenue in Q1 2022. Revenue of $23.4 million, an increase of 20% year-over-year (YoY).ī2 Cloud Storage revenue was $10.0 million, an increase of 42% YoY.Ĭomputer Backup revenue was $13.4 million, an increase of 8% YoY. ![]() “We’re delighted that more businesses are using Backblaze to significantly reduce their data storage spend by shifting away from high-cost cloud providers.” Additionally, our Q1 results support our goal to approach Adjusted EBITDA breakeven in Q4 of 2023,” said Gleb Budman, CEO of Backblaze. ![]() ![]() ![]() “We were pleased to deliver 42% year-on-year revenue growth for B2 Cloud Storage in Q1- well above that of our competitors like Amazon Web Services (AWS). (Nasdaq: BLZE), the leading specialized storage cloud, today announced results for its first quarter ended March 31, 2023. SAN MATEO, Calif., (GLOBE NEWSWIRE) - Backblaze, Inc. 42% Revenue Growth in B2 Cloud Storage, 20% Revenue Growth Overall in Q1 2023 ![]()
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