Backblaze Inc
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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FY2024 · Filed Mar 11, 2025
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Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
| For the Years Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue | $127,628 | $102,019 |
| Cost of revenue | 58,285 | 52,162 |
| Gross profit | 69,343 | 49,857 |
| Operating expenses: | ||
| Research and development | 42,098 | 39,527 |
| Sales and marketing | 44,440 | 41,270 |
| General and administrative | 29,094 | 26,965 |
| Total operating expenses | 115,632 | 107,762 |
| Loss from operations | (46,289) | (57,905) |
| Investment income | 1,422 | 1,984 |
| Interest expense, net | (3,658) | (3,792) |
| Loss before provision for income taxes | (48,525) | (59,713) |
| Income tax provision | 6 | — |
| Net loss and comprehensive loss | $(48,531) | $(59,713) |
| Net loss per share attributable to Class A and Class B common stockholders, basic and diluted | $(1.11) | $(1.66) |
| Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted(1) | 43,543,023 | 36,011,446 |
(1) On July 6, 2023, all shares of the Company’s then outstanding Class B common stock were automatically converted into the same number of Class A common stock, pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 13 for further details.
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