![]() B2 Cloud Storage NRR was 120% compared to 131% in Q1 2022.Net revenue retention (NRR) rate was 111% compared to 113% in Q1 2022.Computer Backup ARR was $54.2 million, an increase of 7% YoY.B2 Cloud Storage ARR was $41.7 million, an increase of 47% YoY. ![]() ![]() Annual recurring revenue (ARR) was $95.9 million, an increase of 21% YoY.Non-GAAP net loss per share of $0.26 compared to a non-GAAP net loss per share of $0.28 in Q1 2022.įirst Quarter 2023 Operational Highlights:.Non-GAAP net loss of $9.0 million compared to non-GAAP net loss of $8.7 million in Q1 2022.Adjusted EBITDA of $(2.9) million, or (12)% of revenue, compared to $(3.0) million and (15)% of revenue in Q1 2022.Cash, short-term investments and restricted cash, non-current totaled $56.9 million as of March 31, 2023.Net loss per share of $0.50 compared to a net loss per share of $0.41 in Q1 2022.Net loss of $17.1 million compared to a net loss of $12.5 million in Q1 2022.Adjusted gross profit of $17.0 million, or 72% of revenue, compared to $14.8 million and 76% of revenue in Q1 2022.Gross profit of $11.0 million, or 47% of revenue, compared to $9.8 million and 50% of revenue, in Q1 2022.Computer Backup revenue was $13.4 million, an increase of 8% YoY.B2 Cloud Storage revenue was $10.0 million, an increase of 42% YoY.Revenue of $23.4 million, an increase of 20% year-over-year (YoY).“We’re delighted that more businesses are using Backblaze to significantly reduce their data storage spend by shifting away from high-cost cloud providers.” Additionally, our Q1 results support our goal to approach Adjusted EBITDA breakeven in Q4 of 2023,” said Gleb Budman, CEO of Backblaze. “We were pleased to deliver 42% year-on-year revenue growth for B2 Cloud Storage in Q1- well above that of our competitors like Amazon Web Services (AWS). (Nasdaq: BLZE), the leading specialized storage cloud, today announced results for its first quarter ended March 31, 2023. SAN MATEO, Calif., (GLOBE NEWSWIRE) - Backblaze, Inc.
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