BLZE — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-03

• We are a high-performance cloud storage platform that serves as a backbone for data-intensive use cases in artificial intelligence (“AI”) as well as across a broad range of other modern cloud workloads. Our platform is designed to help customers address complex storage needs by providing web-scale I…

• Our mission is to make customers successful by solving their toughest data storage challenges. We aim to achieve this mission through purpose-built software and operational expertise that together enable a cloud storage solution optimized for price-to-performance at scale. By substantially reducing …

• Backblaze has multiple go-to-market motions. Through our blog and culture of transparency, we have built a community of millions of readers and brand advocates. Our direct sales activities, channel and technology partners, and referrals from our community of brand advocates, combined with our self-s…

• Our Backblaze Storage Cloud provides a platform that is the foundation for our B2 Cloud Storage IaaS offering and our Computer Backup Software-as-a-Service (“SaaS”) offering, which automatically backs up data from laptops and desktops for businesses and individuals and offers easily understood prima…

• B2 Cloud Storage enables customers to store data, AI platform providers to deliver new services, developers to build applications, and partners to expand their use cases. The amount of data stored in this cloud service can scale up and down as needed, on a pay-as-you-go basis or can be paid for on a…

Text removed vs the prior filing · source: 10-Q · 2026-05-04

• We are a high-performance cloud storage platform for data-intensive use cases in the artificial intelligence (“AI”) era and across a broad range of modern cloud workloads, designed to help customers address complex storage needs by reducing the barriers of lock-in, complexity, and cost. Our mission …

• We provide cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware. We believe that by offering a cloud storage solution optimized for price-to-performance at scale, engineered for efficiency, and priced predictably, we substantially reduce the cost, com…

• Our Backblaze Storage Cloud provides a platform that is the foundation for our B2 Cloud Storage Infrastructure-as-a-Service (“IaaS”) offering, our B2 Overdrive high-performance IaaS offering, our Powered by Backblaze white label IaaS offering, and our Computer Backup Software-as-a-Service (“SaaS”) o…

• To continue expanding and accelerating our movement up-market and aligning to emerging AI-related opportunities, we recently launched B2 Neo and the Backblaze Flamethrower startup program. B2 Neo is our white-label, enterprise-grade cloud object storage solution purpose-built for and with neocloud p…

• branded storage offering in weeks rather than months, without diverting engineering resources from their core GPU and compute roadmaps. Flamethrower is our founder-first startup program designed for the next generation of AI developers, builders, and entrepreneurs. The program offers up to $100,000 …

Text added vs the prior filing · source: 10-Q · 2026-08-03

• The current inflationary and interest rate environment has increased and will continue to increase our operating costs and our interest expense. Heightened demand for infrastructure supporting AI and other compute-intensive workloads has contributed to higher data center equipment prices, while supp…

Text removed vs the prior filing · source: 10-Q · 2026-05-04

• The inflation rate has recently been falling by some measures after reaching a nearly three decade high in 2022, but interest rates remain high and may continue to increase our operating costs and our interest expense. It is uncertain how inflation and interest rates will be impacted in 2026 by the …

Text added vs the prior filing · source: 10-Q · 2026-08-03

• •We expect our business to become substantially dependent on a limited number of customers, and our business could be harmed if a large customer fails to perform, or does not renew or expand its relationship with us.*

• We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future.*

• We incurred net losses of $11.2 million and $16.4 million for the six months ended June 30, 2026 and 2025, respectively. After more than 18 years of operations, we had an accumulated deficit of $232.8 million as of June 30, 2026. We cannot guarantee that net losses in future periods will be similar …

• increase in the future. A decrease in website traffic or an increase in promoted search result costs could adversely affect our customer acquisition efforts and our operating results. In addition, we also rely on our blog and word of mouth to drive additional customers. To the extent our blog does n…

• The competition for data center space, infrastructure and equipment has intensified significantly, particularly due to increased demand from AI and other compute-intensive workloads. As a result, available capacity in key markets is limited, and data center and other vendors have implemented, and ma…

Text removed vs the prior filing · source: 10-Q · 2026-05-04

• We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future.

• We incurred net losses of $6.1 million and $9.3 million for the three months ended March 31, 2026 and 2025, respectively. After more than 18 years of operations, we had an accumulated deficit of $227.7 million as of March 31, 2026. We cannot guarantee that net losses in future periods will be simila…

• retaining key employees during periods of organizational uncertainty, and potential adverse effects on employee morale, productivity, and company culture.

• The competition for data center space, infrastructure and equipment has intensified significantly, particularly due to increased demand from AI and other compute-intensive workloads. As a result, available capacity in key markets is limited, and data center and other vendors have implemented, and ma…

• Historically, most of our customers consisted of small-to-medium sized businesses and individuals. Our growth strategy is in part dependent upon attracting and retaining customers that are larger businesses and organizations. To the extent we target other types of customers or customers with differe…

Text added vs the prior filing · source: 10-Q · 2026-08-03

• During the Company's last fiscal quarter, none of the Company’s directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated contracts, instructions or written plans for the purchase or sale of the Company’s securities pursuant to Rule 10b5-1 or non-Rule 10b5-1 t…

Text removed vs the prior filing · source: 10-Q · 2026-05-04

• On February 25, 2026, each of Gleb Budman, our Chief Executive Officer, and Marc Suidan, our Chief Financial Officer, adopted a written trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Each of these trading arrangements was subseque…

• On April 30, 2026, we entered into a Second Amendment to Credit Agreement with Citizens Bank, N.A. (the “Second Amendment”). The Second Amendment amends the Credit Agreement to, among other things, (i) extends the maturity date from June 4, 2027 to June 4, 2028, (ii) resets the option that allows th…

• The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q and incorporated herein by reference.