Slide 1: Q4 and FY 2021 Results
Q4 and FY 2021 Results Gleb Budman, Frank Patchel, Co-founder, CFO CEO and Chair February 17, 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 Q4 Y/Y Growth: Revenue +28%, B2 Storage Cloud +56%
Strong Q4 Y/Y Growth: Revenue +28%, B2 Storage Cloud +56% Total Revenue B2 Cloud Storage $18.7M $6.6M $14.6M ARR 28% $75M $4.2M $27M Q4’21 ARR 56% Q4’21 ARR Q4’20 Q4’21 Q4’20 Q4’21 Q4’21 Revenue Revenue NOTES: Financial data is shown for the quarters ending December 31, 2020 and 2021, and the latter
Slide 4: Scaling the Business: Sales and Marketing
Scaling the Business: Sales and Marketing Outbound Sales Representatives Blaze It! Advertising Campaign 7 5 Q3’21 Q4’21 Q1’22E Q2’22E ©2022 | 4
Slide 5: Scaling the Business: Partnerships
Scaling the Business: Partnerships New Kasten Partnership New Partnership For Kubernetes Environments Marketing Team ©2022 | 5
Slide 6: Scaling the Business: Developers
Scaling the Business: Developers Developer B2 Cloud Storage ARR Customer NRR from Developer ~150% Customers Up ~2X Y/Y in 2021 Developer Evangelism Team Established NOTES: See appendix for definitions of ARR (annual recurring revenue) and NRR (net revenue retention). The ARR and NRR relating to Devel
Slide 7: Customer Story: Can Stock Photo
Customer Story: Can Stock Photo ● Developer customer ● Migrated from Amazon Web Services ● Saved money & got best-of-breed cloud services “…switching to Backblaze…was so uneventful and so easy…it was literally like flipping a light switch on the back end…With Backblaze, our business is now in a more
Slide 8: Q4 Financial Overview
Q4 Financial Overview Frank Patchel, CFO ©2022 Confidential | 8 | 8
Slide 9: Financial and Operational Q4 Highlights
Financial and Operational Q4 Highlights Revenue Y/Y Gross Customer ($M) Growth NRR Retention B2 Cloud Storage $6.6 56% 130% 89% Computer Backup $11.9 16% 102% 91% Total Company $18.7 28% 110% 91% NOTES: All financial information is as of December 31, 2021, with year-over-year revenue comparisons to t
Slide 10: Number of Customers
Number of Customers (in thousands) Q4’20 Q4’21 B2 Cloud Storage 59 74 Computer Backup 419 439 Total Company 466 499 NOTES: Number of customers is defined in the appendix. The number of customers for each of B2 Cloud Storage and Computer Backup solutions include customers that use both our B2 Cloud St
Slide 11: Average Annual Revenue Per User (ARPU)
Average Annual Revenue Per User (ARPU) Total Company Computer Backup Q4’20 B2Q4’21 Cloud Storage Q4’21 $348 $292 $147 $124 $108 $97 Q4’20 Q4’21 Q4’20 Q4’21 Q4’21 Q4’20 Q4’21 Q4’21 Q4’21 ©2022 | 11 NOTES: Average Annual Revenue Per User is is defined in the appendix.
Slide 12: Other Q4 Financial Highlights
Other Q4 Financial Highlights 75% -7% $105M Adj. Gross Margin Adj. EBITDA Margin Balance Sheet Cash NOTES: All financial information is as of December 31, 2021 and is based on the unaudited financial information. Adjusted Gross Margin excludes capex depreciation, stock-based compensation and R&D amort
Slide 13: Q1'22 and 2022 Outlook Ranges
Q1’22 and 2022 Outlook Ranges Revenue ($M) Adj. EBITDA Margin Q1’22 Q1’22 $19.0 to $19.5 -16% to -20% 2022 2022 $83 to $86 -14% to -18% NOTES: The above financial information guidance for the first quarter of fiscal year 2022 and fiscal year 2022 are forward-looking statements. These forward-looking sta
Slide 14: We make it astonishingly easy to store, use, and protect data.
We make it astonishingly easy to store, use, and protect data. ©2022 Confidential | 14 | 14
Slide 15: Q&A
Q&A ©2022 Confidential | 15 | 15
Slide 16: 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 17: Definitions
Definitions ● “Number of Customers” is defined as the total number of paying customers at the end of a period, each of which is a distinct account that is identified by a unique account identifier. ● “Annual ARPU” means annual average revenue per user and is calculated by dividing our revenue for the la
Slide 18: Reconciliation of Non-GAAP Measures: Gross Margin
Reconciliation of Non-GAAP Measures: Gross Margin Adjusted Gross Profit Q4’21 Q4’20 Gross Profit $9.834 $7.562 Gross Margin 53% 52% Adjustments for Cost of Revenue: Stock Based Compensation 0.176 0.043 Depreciation and Amortization 4.105 3.644 Adjusted Gross Profit $14.115 $11.249 Adjusted Gross Margin
Slide 19: Reconciliation of Non-GAAP Measures: EBITDA
Reconciliation of Non-GAAP Measures: EBITDA Adjusted EBITDA Q4’21 Q4’20 Net Loss $(9.605) $(3.418) Net Loss Margin -51% -23% Adjustments: Total Depreciation & Amortization 4.280 3.840 Total Stock Based Compensation 2.018 0.665 Interest Expense 0.991 0.940 Income Tax Provision (0.040) (0.007) Realize
Slide 20: Reconciliation of Non-GAAP Measures: Operating Expenses
Reconciliation of Non-GAAP Measures: Operating Expenses Adjusted Operating Expenses Q4’21 Q4’20 R&D $6.222 $3.937 Adj: Stock Based Compensation (0.752) (0.214) S&M 6.549 3.545 Adj: Stock Based Compensation (0.595) (0.284) G&A 4.640 2.565 Adj: Stock Based Compensation (0.495) (0.124) Adjusted R&D (%
Slide 21: Thank you.
Thank you. ©2022 Confidential | 21 | 21