3 ms·
I'm sure they like money as much as the rest of us do.
by 9cb14c1ec0 2y ago
I'm sure they like money as much as the rest of us do.
- sosodev 2y agoBackblaze is not profitable
- sophacles 2y agoWhat type of "not profitable"? By itself that's not a useful statement. Do they have a bunch of cash in the bank? Do they have higher revenue than Cost of Business? Do they have free cash flow? Is it growing? A business that isn't profitable and also isn't growing is a much different beast than a company that is investing its cash reserves to grow the business.
- gruez 2y ago> What type of "not profitable"? By itself that's not a useful statement. They're a public company so you can check for yourself: https://www.sec.gov/ix?doc=/Archives/edgar/data/1462056/000146205624000033/blze-20231231.htm https://www.sec.gov/ix?doc=/Archives/edgar/data/1462056/0001...
- sgerenser 2y agoThey're definitely growing, and will likely be profitable at some point in the next few quarters: https://ir.backblaze.com/news-releases/news-release-details/backblaze-announces-first-quarter-2024-financial-results https://ir.backblaze.com/news-releases/news-release-details/... But even on a non-GAAP basis (which excludes stock-based compensation), their net income for the most recent quarter was a loss of $5.5 million.
- AtlasBarfed 2y agoThat just looks like good accounting.
- toomuchtodo 2y agoProfit is like oxygen, not the point of life but required for survival.
- anamax 2y agoPure oxygen will kill you at >2 atmospheres of pressure. (That's roughly 30 feet underwater.)
- gruez 2y agoBut unlike oxygen, having more money allows you to do more stuff. Once your oxygen needs are satisfied, any more is basically wasted. You could make the argument that money has diminishing utility as well, but it's totally incomparable to the utility curve for oxygen.
- taskforcegemini 2y agoToo much oxygen is as bad as too little, if not worse.