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Backblaze (BLZE) investor relations material

Backblaze Citizens JMP Technology Conference 2026 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Citizens JMP Technology Conference 2026 summary2 Mar, 2026

Reflections and business transformation

  • IPO in 2021 led to a growth-focused, capital-burning phase, with B2 Cloud Storage becoming the main business driver.

  • Revenue growth for B2 decelerated to 21% in Q4 2024, with free cash flow margin at -13%.

  • Over the past year, revenue growth improved to 24% and free cash flow margin to +11%.

  • Rule of 40 score increased from 9% to 35% in a year, with further improvement targeted.

  • Ongoing efforts to enhance sales productivity and go-to-market execution.

Product innovation and market positioning

  • Advanced Installer and Command Line Interface launched to attract managed service providers (MSPs) for computer backup.

  • Computer backup business aims to stabilize customer count, with current churn at 10% and net customer loss at 3%.

  • B2 Neo enables white-labeling for Neocloud providers, leading to the largest TCV deal to date.

  • Overdrive product repositions the brand as a high-performance storage provider, supporting AI/ML use cases.

  • Flamethrower startup credit program launched to drive platform adoption with low acquisition costs.

Neocloud opportunity and customer dynamics

  • Neocloud market expected to grow 46% annually to $230B in 5 years, with $14B TAM for relevant storage.

  • Many Neoclouds use less reliable open-source storage, creating opportunity for differentiated offerings.

  • Largest TCV deal expected to add 300 basis points of growth by FY2027, with development work benefiting future deals.

  • Expansion within existing Neocloud customers seen as a key growth lever, with sales enablement critical for momentum.

  • Business model diversity maintained, with B2 serving backup, hot storage, and AI/ML aggregation needs.

What drives Neoclouds to adopt B2 Neo
Key success metric for B2B GTM
Overdrive's impact on B2 brand perception
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Q1 20266 May, 2026
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Frequently asked questions

Backblaze Inc provides cloud storage and backup services for businesses and individuals. Its offerings include computer backup, business backup, and object storage solutions designed for data protection and disaster recovery. The company is headquartered in San Mateo, California, and its shares are listed on the NASDAQ.

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