Backblaze: Great Value Buy Amid Sales Shake-Up
Portfolio Pulse from
Backblaze is experiencing an acceleration in revenue growth in Q3, driven by a new Chief Revenue Officer and a strategic shift upmarket. The company has also improved its adjusted EBITDA margin by laying off 12% of its workforce.

December 16, 2024 | 11:00 pm
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Backblaze reported accelerated revenue growth in Q3, driven by a new Chief Revenue Officer and a strategic shift upmarket. Layoffs of 12% of its workforce have improved adjusted EBITDA margins.
The appointment of a new Chief Revenue Officer and a strategic shift upmarket are likely to drive further revenue growth. The layoffs, while reducing headcount, have improved the company's adjusted EBITDA margins, indicating better financial health. These factors are positive for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100