Q4 2025 Backblaze Inc Earnings Call Transcript
Key Points
- Backblaze Inc (BLZE) achieved adjusted free cash flow profitability for the first time as a public company, marking a significant milestone.
- The company reported a 14% year-over-year revenue growth for the full year, with B2 Cloud Storage growing by 26%.
- Backblaze Inc (BLZE) closed its largest contract in company history, an 8-figure deal with a total contract value of over $15 million.
- The company launched B2 Neo, a white-label offering for Neoclouds, positioning itself as a storage backbone for AI platforms.
- Backblaze Inc (BLZE) has made significant progress in its go-to-market transformation, with a 73% increase in ARR from customers generating more than $50,000 annually.
- The company did not achieve its budgeted Q4 B2 growth rate, indicating challenges in meeting growth expectations.
- Backblaze Inc (BLZE) anticipates some pressure on gross margins due to increased data center costs and the need for capital expenditures.
- The computer backup segment is expected to decline by 5% year-over-year, impacting overall company growth.
- The large Neocloud deal will not contribute meaningful revenue until 2027, delaying immediate financial benefits.
- The company faces variability in revenue recognition due to larger customer wins and usage-driven workloads, leading to a derisked outlook.
Good day, everyone. Welcome to the Backblaze fourth quarter and full-year 2025 earnings call. Just a reminder, this call is being recorded. I would now like to hand the call over to Ms. Mimi Kong. Please go ahead.
Thank you. Good morning, and welcome to Backblaze's fourth quarter and full year 2025 earnings call.
On the call with me today are Gleb Budman Co-Founder, CEO and Chairperson of the Board; and Marc Suidan, Chief Financial Officer. Today, Backblaze will discuss the financial results that were distributed earlier. Statements on this call include forward-looking statements about our future financial results, the impact of our go-to-market transformation, sales and marketing initiatives, cost savings initiatives, results from new features, the impact of price changes, our ability to compete effectively and manage our growth and our strategy to acquire new customers pertain and expand our business with existing customers.
These statements are
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