Backblaze Shares Down 3% Despite Q3 Beat & Raise
<p><a href='https://financialmodelingprep.com/financial-summary/BLZE'>Backblaze, Inc. (NASDAQ:BLZE) </a>shares closed more than 3% lower on Tuesday despite the company’s strong Q3 results, with revenue/non-GAAP EPS coming in at $17.3 million/($0.23), compared to the consensus estimates of $17.0 million/($0.25), with sequential growth in customers and revenue/customer for both segments.</p>
<p>Overall metrics were also solid, with total ARR of $70.8 million (up 29% year-over-year), B2 Cloud storage ARR of $24.6 million (up 56% year-over-year), total NRR of 110%, and B2 Cloud Storage NRR of 129%. </p>
<p>Analysts at Oppenheimer said their focus remains on the growth trajectory of B2 Cloud Storage, which should drive overall revenue acceleration and higher ARR/NRR metrics as mix increases, as well as the recent direct S&M efforts and related productivity. </p>
<p>Looking forward, the analysts expect faster pace of customer acquisition within B2 Cloud Storage and new features such as Cloud Replication (available H1/22) to contribute more meaningfully to growth. </p>

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