Backblaze Inc (NAS:BLZE)

Q2 2025 Backblaze Inc Earnings Call Transcript

Aug 7, 2025 / 12:00 PM GMT

Release Date Price: $6.68 (+24.86%)

Transcript 10-Q8-K

Key Points

Positve

Backblaze Inc (BLZE) exceeded both revenue and adjusted EBITDA guidance for the second consecutive quarter, with total revenue reaching $36.3 million, a 16% year-over-year increase.
B2 revenue grew by 29% year-over-year, demonstrating strong growth and momentum in this segment.
The company achieved a significant improvement in adjusted EBITDA margin, doubling year-over-year to 18%.
Backblaze Inc (BLZE) is on track to become adjusted free cash flow positive by Q4 2025, marking a significant step towards profitability.
The introduction of B2 Overdrive has been well-received, with the company securing its first six-figure customer within two months of launch, indicating strong product-market fit.

Negative

Net Revenue Retention (NRR) for B2 cloud storage declined to 112% from 126% the prior year, primarily due to the lapping of a previous price increase.
Computer backup revenue is expected to decline in the low to mid-single digits in the second half of 2025, reflecting challenges in this segment.
The gross customer retention rate for computer backup remains strong at about 90%, but the segment faces a slow secular decline due to changing consumer behaviors.
Despite strong growth in AI-related opportunities, there is potential variability in B2 revenue growth due to reliance on large AI customers.
The company is still in the process of refining its go-to-market model and has yet to fully realize the potential of its channel efforts, which could impact future growth.

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

BLZE.OQ - Backblaze Inc
Q2 2025 Backblaze Inc Earnings Call
Aug 07, 2025 / 12:00PM 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 Danica, and I will be your conference operator today. At this time, I would like to welcome everyone to the Back Blaze 2nd quarter 2025 earnings cost. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press one again.

Thank you.

I would now like to turn the call over to Mimi Kong, head of IR. Please go ahead.

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Unidentified_2 [2]
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