Backblaze Sees Q2 Revenue $30.7M-$31.1M Vs $30.75M Est.; FY24 Revenue $126M-$128M Vs $127.04M Est.
Portfolio Pulse from Benzinga Newsdesk
Backblaze forecasts Q2 revenue of $30.7M-$31.1M, aligning with a $30.75M estimate, and anticipates FY24 revenue of $126M-$128M, closely matching a $127.04M estimate. The company also projects an adjusted EBITDA margin of 6%-8% for Q2 and 8%-10% for the full year, with basic shares outstanding estimated at 42.0M-42.5M.
May 08, 2024 | 11:00 pm
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Backblaze forecasts Q2 and FY24 revenues that closely align with analyst estimates, alongside an optimistic adjusted EBITDA margin projection.
Backblaze's revenue forecast for both Q2 and the full year 2024 closely matches analyst estimates, indicating a stable financial outlook. The projected adjusted EBITDA margins suggest operational efficiency and profitability, which are positive indicators for investors. Given the alignment with estimates and positive margin outlook, this news is likely to be viewed favorably by the market, potentially leading to a positive short-term impact on BLZE's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100