Backblaze Inc (NAS:BLZE)

Q1 2025 Backblaze Inc Earnings Call Transcript

May 7, 2025 / 09:00 PM GMT

Release Date Price: $4.52 (+0.44%)

Transcript 10-Q8-K10-K/A

Key Points

Positve

Backblaze Inc (BLZE) reported a 15% increase in total revenue year-over-year, with B2 cloud storage achieving 23% growth.
The company's adjusted EBITDA margin tripled to 18% compared to the same period last year.
Backblaze Inc (BLZE) launched B2 Cloud Storage Overdrive, a new offering optimized for high-performance use cases like AI and machine learning.
The company signed its largest total contract value (TCV) deal ever, displacing AWS and securing a multi-million dollar contract.
Backblaze Inc (BLZE) is experiencing significant growth in AI-related business, with AI use cases being the fastest-growing segment in Q1.

Negative

Backblaze Inc (BLZE) faced misleading reports from disgruntled former employees, which the company claims are part of a market manipulation scheme.
Some customers are taking longer to make decisions due to the current business environment, potentially impacting sales cycles.
The company's net revenue retention (NRR) for the B2 segment decreased from 126% to 117% due to the lapping of a previous price increase.
There is a potential impact from tariffs on US imports, which could increase the cost of sales by approximately 1.5% if implemented.
Backblaze Inc (BLZE) is still working on improving its partner and channel demand generation efforts as part of its go-to-market transformation.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BLZE.OQ - Backblaze Inc
Q1 2025 Backblaze Inc Earnings Call
May 07, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. My name is Gail, and I will be your op operator for today's call. At this time, I would like to welcome everyone to the Back Blaze first quarter 2025 earnings call. All lines have been placed on you to prevent any background noise. After the speaker's remarks, there will be a question and. Session. If you would like to ask a question during that time, simply press star followed by the number one on your telephone keypad. If you would like to read the question, and the press one again. It is now my pleasure to turn today's call over to Mimi Kong, head of investor relations. Please go ahead.

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Unidentified_2 [2]
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