Slide 1: Q1 2022 Results
Q1 2022 Results Gleb Budman, Frank Patchel, Co-founder, CFO CEO and Chair May 5, 2022 ©2022 | 1
Slide 2: Important Information About This Presentation
Gross Revenue Retention 91% Important Information About This Presentation Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-
Slide 3: Strong Q1 Y/Y Growth: Revenue +27%, B2 Cloud Storage +48%
Strong Q1 Y/Y Growth: Revenue +27%, B2 Cloud Storage +48% Total Revenue B2 Cloud Storage $19.5M $7.0M $15.3M ARR 27% $79M $4.7M $28M Q1’22 ARR 48% Q1’22 ARR Q1’21 Q1’22 Q1’21 Q1’22 Revenue Revenue NOTES: Financial data is shown for the quarters ending March 31, 2021 and 2022, and is based on unaudit
Slide 4: Platform Enhancements: Universal Data Migration
Platform Enhancements: Universal Data Migration Universal Data Migration Set of integrated services that make it easy and free for eligible customers to move data from other cloud services and on-premise storage Specializes in helping businesses move their data from on-premises to the cloud while en
Slide 5: Platform Enhancements: B2 Reserve
Platform Enhancements: B2 Reserve Backblaze B2 Reserve Set of integrated services that make it easy and free for eligible customers to move data from other cloud services and on-premises storage solutions Additional Benefits: data migration support, enhanced customer support tier, and waived egress f
Slide 6: Platform Enhancements: Partner API
Platform Enhancements: Partner API Backblaze Partner API Facilitates partners’ expansion of cloud services using B2 as backend infrastructure ©2022 | 6
Slide 7: Platform Enhancements: Cloud Replication
Platform Enhancements: Cloud Replication Cloud Replication ● Beta launch in April ● On track for general availability in June 2022 ● Use cases: disaster recovery, compliance objectives, faster access ©2022 | 7
Slide 8: New Partnerships
New Partnerships Catalogic Partnership Joint Solution w/ CTERA Provides developers data protection Provides mid-market IT a cloud-based and disaster recovery at a fraction of NAS (Network-Attached Storage) using the cost of others. Backblaze B2 to simplify moving on-premise data to the cloud ©2022 |
Slide 9: Customer Story: Fortune Media (USA) Corp
Customer Story: Fortune Media (USA) Corp ● Media & Entertainment Customer ● 300 TB of Data for 100,000+ Hours of Video ● Uses B2 Cloud Storage to make video archive reliable and easily accessible, and to cut archiving cost by 66% “Backblaze is so simple to use, our editors can manage the entire file
Slide 10: Customer Story: Big Cartel
Customer Story: Big Cartel ● Developer Customer, E-commerce Platform ● Previously Amazon S3 & Fastly Customer ● Concerned With Reliability/Ethics of S3 ● Moved to B2 & Fastly with S3 secondary ● Multi-cloud Saved Money and Increased Reliability While Doubling Footprint “The number one factor is that
Slide 11: Q1 2022 Financial Overview
Q1 2022 Financial Overview Frank Patchel, CFO ©2022 Confidential | 11 | 11
Slide 12: Financial and Operational Q1 Highlights
Financial and Operational Q1 Highlights Revenue Y/Y Gross Customer ($M) Growth NRR Retention B2 Cloud Storage $7.0 48% 129% 90% Computer Backup $12.3 18% 104% 91% Total Company $19.5 27% 112% 91% NOTES: Q1’22 total company revenue includes $0.2 million in revenue from Physical Media. All financial in
Slide 13: Other Q1 Financial Highlights
Other Q1 Financial Highlights 76% -15% $99M Adj. Gross Margin Adj. EBITDA Margin Balance Sheet Cash and Short Term Investments NOTES: All financial information is as of March 31, 2022 and is based on the unaudited financial information. Adjusted Gross Margin excludes capex depreciation, stock-based co
Slide 14: Q2'22 and 2022 Outlook Ranges
Q2’22 and 2022 Outlook Ranges Revenue ($M) Adj. EBITDA Margin Q2’22 Q2’22 $20.2 to $20.6 -19% to -15% Reaffirming 2022 2022 $83 to $86 -18% to -14% NOTES: The above financial information guidance for the second quarter of fiscal year 2022 and fiscal year 2022 are forward-looking statements. These forwar
Slide 15: We make it astonishingly easy to store, use, and protect data.
We make it astonishingly easy to store, use, and protect data. ©2022 Confidential | 15 | 15
Slide 16: Q&A
Q&A ©2022 Confidential | 16 | 16
Slide 17: Definitions
Definitions ● “ARR” means Annual Recurring Revenue and is based on the monthly revenue from all B2 Cloud Storage and Computer Backup arrangements (excluding revenue for Physical Media) for the last month of a period and multiplying it by 12. Our annual recurring revenue for each of Computer Backup an
Slide 18: Definitions
Definitions ● Adjusted EBITDA is defined as net loss excluding depreciation and amortization, stock-based compensation, interest expense, income tax provision, unrealized loss on SAFE and gain on extinguishment of debt. We use adjusted EBITDA to evaluate our ongoing operations and for internal plannin
Slide 19: Reconciliation of Non-GAAP Measures: Gross Margin
Reconciliation of Non-GAAP Measures: Gross Margin Adjusted Gross Profit Q1’22 Q1’21 Gross Profit $9.809 $7.482 Gross Margin 50% 49% Adjustments for Cost of Revenue: Stock Based Compensation 0.276 0.085 Depreciation and Amortization 4.670 3.865 Adjusted Gross Profit $14.755 $11.432 Adjusted Gross Margin
Slide 20: Reconciliation of Non-GAAP Measures: EBITDA
Reconciliation of Non-GAAP Measures: EBITDA Adjusted EBITDA Q1’22 Q1’21 Net Loss $(12,530) $(3.688) Net Loss Margin -64% -24% Adjustments: Total Depreciation & Amortization 4.863 4.010 Total Stock Based Compensation 3.835 0.908 Interest Expense 0.873 0.871 Income Tax Provision (0.032) Adjusted EBITD
Slide 21: Reconciliation of Non-GAAP Measures: Operating Expenses
Reconciliation of Non-GAAP Measures: Operating Expenses Adjusted Operating Expenses Q1’22 Q1’21 R&D $7.941 $4.269 Adj: Stock Based Compensation (1.555) (0.399) S&M 8.029 3.777 Adj: Stock Based Compensation (1.134) (0.189) G&A 5.528 2.253 Adj: Stock Based Compensation (0.870) (0.235) Adjusted R&D (%
Slide 22: Reconciliation of Non-GAAP Measures: Net Income
Reconciliation of Non-GAAP Measures: Net Income Q1’22 Q1’21 Net Loss $(12.530) $(3.688) Net Loss Margin -64% -24% Adjustments: Total Stock Based Compensation 3.835 0.908 Non-GAAP Net Income (Loss) $(8.695) $(2.780) Non-GAAP Net Income Margin -45% -18% Non-GAAP Diluted Shares 30.5 18.7 Non-GAAP Net L
Slide 23: Thank you.
Thank you. ©2022 Confidential | 23 | 23