5 ms·

Backblaze is not profitable

• sophacles 2y ago
  What 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 ago
    They'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 ago
      That just looks like good accounting.