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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