Since its IPO, BLZE’s stock price has fallen 79.5% vs. Operating losses by quarter have worsened sharply in recent quarters:ĩ Quarter Operating Income (Seeking Alpha)Įarnings per share (Diluted) have worsened substantially into negative territory in recent quarters, as the chart shows here:ĩ Quarter Earnings Per Share (Seeking Alpha)
Selling, G&A expenses as a percentage of total revenue by quarter have risen markedly in recent quarters, a negative sign:ĩ Quarter Selling, G&A % Of Revenue (Seeking Alpha) Gross profit margin by quarter has peaked in recent quarters:ĩ Quarter Gross Profit Margin (Seeking Alpha) Total revenue by quarter has risen per the following chart: Major competitive or other industry participants include:
BLZE BACKBLAZE DRIVERS
The main drivers for this expected growth are the growing demand for enterprises for ever larger amounts of data and a rising number of remote-located employees and contractors needing access to relevant data stores.Īlso, a key challenge for the industry is to effectively defend against security threats and improve data privacy for corporate and personal data. This represents a forecast CAGR of 22.3% from 2020 to 2025. Backblaze’s Market & CompetitionĪccording to a 2020 market research report by MarketsandMarkets, the global market for cloud storage services was an estimated $50.1 billion in 2020 and is forecast to reach $137 billion by 2025.
BLZE BACKBLAZE TRIAL
The firm seeks customers primarily through online marketing, social media and word of mouth.īLZE operates a self-serve website that enables users to sign up for a free trial and convert to a paid subscription. Management is headed by co-founder, Chairperson and CEO Gleb Budman, who has been with the firm since its inception and was previously in various senior positions at SonicWall, MailFrontier and Kendara. San Mateo, California-based Backblaze was founded to develop a cloud-based SaaS storage service suite for businesses and consumers wishing to easily back up and store their critical data. Given BLZE’s slower-than-expected revenue growth, increasing operating losses and worsening negative earnings, I’m on Hold for BLZE until it can produce a meaningful turn toward operation breakeven.
BLZE BACKBLAZE SOFTWARE
The firm provides cloud-based storage and recovery software to businesses and individuals. Backblaze ( NASDAQ: BLZE) went public in November 2021, raising approximately $100 million in gross proceeds from an IPO priced at $16.00 per share.
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