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Today Backblaze changed their FY 2023 outlook https://ir.backblaze.com/news-releases/news-release-details/backblaze-improves-2023-financial-guidance https://ir.
by smartbit 3y ago
Today Backblaze changed their FY 2023 outlook https://ir.backblaze.com/news-releases/news-release-details/backblaze-improves-2023-financial-guidance https://ir.backblaze.com/news-releases/news-release-details/...
”Today’s announced pricing and product updates help improve our ability to serve our customers, invest in further innovation, and support the financial strength of the company,” said Gleb Budman, CEO of Backblaze. “With these changes, we are targeting a $20 million ending cash balance in 2024 and returning to being cash flow positive by mid-2025.”
- vxNsr 3y agodoes this mean they're not currently profitable?
- calciphus 3y agoThat's a complex question. Often for companies there's a "we are not cash flow positive by design as we are spending investor dollars to grow" vs "we are not profitable because the cost of serving our customers is more than they will pay" This statement implies the former, not the latter.