Backblaze Inc reports results for the quarter ended in June - Earnings Summary

Backblaze

09/08/2024 11:53

* Backblaze Inc  BLZE.OQ  reported a quarterly adjusted loss
of 25
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -41
cents.  The mean expectation of seven analysts for the quarter
was for a loss of 27 cents per share. Wall Street expected
results to range from -29 cents to -24 cents per share.
    * Revenue rose 27.2% to $31.29 million from a year ago;
analysts
expected $30.79 million. 
    * Backblaze Inc's reported EPS for the quarter was a loss
of 25
cents​.
    * The company reported a quarterly loss of $10.35 million.
    * Backblaze Inc shares had fallen by 15.7% this quarter and
lost 31.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "buy"

Wall Street's median 12-month price target for Backblaze Inc is
$12.00 
This summary was machine generated from LSEG data August 9 at
10:53 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.27          -0.25          Beat
 Mar. 31 2024      -0.29          -0.14          Beat
 Dec. 31 2023      -0.37          -0.30          Beat
 Sep. 30 2023      -0.37          -0.44          Missed