Q4 & FY 2024 Results
|
Gleb Budman |
Marc Suidan |
|
CEO and Co-Founder |
CFO |
|
Backblaze |
February 25, 2025
Our Mission
We make it astonishingly easy to store, use, and protect data.
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Key Highlights
- Strong early results from Go-to-Market Transformation
- AI tailwind benefit
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- Hundreds of AI customers on the platform now
- 3 of the Top 10 customers are AI customers
- 30%+ B2 growth and Adjusted FCF positive by Q4'25
NOTES: "AI customer" determination is based on customer self-identification. "3 of the Top 10 customers are AI customers" is based on revenue per customer in the month of December 2024. "30%+ B2 growth" is based on comparison of projected B2 revenue in Q4 of 2025 compared to actual B2 revenue in Q4 of 2024. "Adjusted FCF positive by Q4'25" reflects estimated Adjusted Free Cash Flow to be positive (i.e., greater than zero) for Q4 of 2025. The estimated 30%+ B2 growth rate and Adjusted Free Cash Flow positive for Q4 of 2025 are forward looking statements. These forward-looking statements reflect our views with respect to future events as of the date of this presentation and are based on assumptions and subject to risks and uncertainties, and actual results may differ materially. Please refer to the definition of Adjusted Free Cash Flow in the Appendix. A reconciliation of non-generally accepted accounting principles (GAAP) guidance measures to corresponding GAAP measures for estimated future results is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of expenses and other factors in the future.
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Go-to-Market Transformation Underway
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Initiatives |
Proof Points |
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● Upskill the Sales Team |
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Closed Record Sales Bookings |
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● Deepen Partnerships |
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Doubled Sales Productivity Y/Y |
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● Execute Core Sales Plays |
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Exceeded Quota for the Qtr and FY |
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Won an Over $1 million ACV Customer |
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Achieved record B2 Net New ARR |
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Sequential Dollar Organic Growth |
NOTES: "Closed Record Sales Bookings" reflects the highest amount of customer contractual commitments for B2 in Company history in Q4 of 2024. "Doubled Sales Productivity Y/Y" reflects the average ARR (Annual Recurring Revenue) for B2 per sales representative for the quarter ended December 31, 2024 compared to December 31, 2023. "Exceeded Quota for the Qtr and FY" reflects the customer contractual commitments or
qualified pay-as-you-go arrangements for B2 for each of the quarter and year ended December 31, 2024 exceeded the respective internal quota B2 sales booking targets for such periods. "Won an Over $1 million ACV
Customer" reflects estimated annual revenue based on annual contract value. "Achieved record B2 Net New ARR Sequential Dollar Organic Growth" reflects the highest increase of B2 organic ARR growth (excluding Backblaze ©2025 | 5 the estimated impact of any price increases) on a quarterly sequential basis since the Company's IPO in November 2021. All financial information is based on unaudited financial data. Please see the definition for ARR
in the Appendix.
G2 Verified User Reviews
NOTES: Reflects badges awarded to Backblaze, Inc. based on ratings by business professionals in Winter 2025 Report of G2, a software review site.
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Customer Highlights
New Customer Additions
- Application developer ~$100k ARR
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- Archive data from data warehouse
- Japanese social media company ~$50k ARR
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- Hot archive solution
- Digital music media company ~$50k ARR
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- Content storage for streaming
Customer Expansions
- Surveillance, Gaming and AI customers
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- 3 customers each expanded usage by an additional $100k in ARR run rate
NOTES: "ARR" reflects estimated Annual Revenue Revenue based on committed contracts. "ARR run rate" reflects estimated Annual Recurring Revenue based on projected monthly usage rates. Please refer to the definitions of ARR in the Appendix.
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$1+ Million ACV Customer Win
- White label 'Powered By Backblaze' win
- Existing customer expansion
- Chosen for high-performance & affordability
NOTES: "$1+ Million ACV Customer" reflects estimated annual revenue based on annual contract value.
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AI Tailwinds Accelerates
- 3 of our top 10 customers in December 2024
- 65% increase in AI customers Y/Y
- Serving hundreds of AI customers
Data Stored by AI Companies Grew
~10x
Year Over Year
NOTES: "AI customer" determination is based on customer self-identification. "3 of the Top 10 customers are AI customers" is based on revenue per customer in the month of December 2024. 65% increase in AI customers reflects comparison of number of AI customers in Q4 of 2024 compared to Q4 of 2023. "Serving hundreds of AI customers" reflects number of AI customers as of December 31, 2024. "~10x year over year" growth of data stored by AI customers reflects a comparison of the total amount of stored data by customers identified as an AI company as of December 31, 2024 compared to December 31, 2023. The financial information presented above is based on unaudited financial data.
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AI Customer Testimony
"We looked at all of the cloud providers you would expect.
Backblaze delivered the right combination of price and usability and we didn't have to change anything on our side to make it work."
AI Customer, CTO and Co-Founder
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Backblaze Inc. published this content on February 25, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 25, 2025 at 22:23:40.514.
