Backblaze, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 02:31 am IST
Share
Backblaze, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 25.3 million compared to USD 22.05 million a year ago. Net loss was USD 16.06 million compared to USD 12.8 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.4 a year ago.
For the nine months, sales was USD 73.28 million compared to USD 62.23 million a year ago. Net loss was USD 47.51 million compared to USD 36.91 million a year ago. Basic loss per share from continuing operations was USD 1.35 compared to USD 1.18 a year ago.
Backblaze, Inc. provides a specialized storage cloud platform. The Company offers two cloud services on its storage cloud: Backblaze B2 Cloud Storage and Backblaze Computer Backup. The Backblaze B2 Cloud Storage enables customers to store data, developers to build applications, and partners to expand their use cases. The amount of data stored in this cloud service can scale up and down as needed on a pay-as-you-go basis, or can be paid for on a capacity basis for greater predictability, which it refers to as its B2 Reserve offering. This Infrastructure-as-a-Service enables use cases including backups, ransomware protection, and storage for artificial intelligence and machine learning workflows. The Backblaze Computer Backup automatically backs up data from laptops and desktops for businesses and individuals. This service is offered as a subscription-based Software-as-a-Service. With over two billion gigabytes of data storage under management, it works with customers in 175 countries.