![]() So, share price volatility may end up being par for the course. But it's highly competitive, and up against some of the biggest and best players in the tech space. But there's nothing stopping those involved in cloud computing from pivoting to blockchain.įor now, sector sentiment still appears to be bullish on data and cybersecurity offerings therefore, the case for investing in a company like Backblaze makes sense. This indicates Backblaze stock could be considered expensive at its current share price.Īnd as for blockchain and the metaverse disrupting the cloud computing industry? That may well come to pass if decentralization proves to be more secure than centralized offerings. Meanwhile, its price-to-sales ratio is 12, which is very high, and 5.7x the tech industry benchmark. Q3 sales are projected to come in around $17 million. Revenues rose in the first six months of this year, but operating losses also widened, rising to $6.5 million during this period. This rose to $54 million in 2020, but operating profits in 2019 turned to a $3.7 million loss last year. In 2019, Backblaze achieved close to $41 million in sales. But is that the case? Let's take a closer look at the numbers. With its impressive 60% share price rise in recent days, Backblaze gives the impression of a great investment. Its rivals include Amazon (NASDAQ: AMZN), Azure from Microsoft (NASDAQ: MSFT) and Google Cloud from Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). This refers to securely restoring data using a USB drive (USB Restore) and for migrating large data sets to the Backblaze platform using its proprietary Fireball device.īackblaze competes directly with big tech players selling subscription cloud-based computer storage and backup services. The final 1% of its custom is physical media. It's provided as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases including backups, multi-cloud, application development, and ransomware protection. This B2 Cloud storage is offered on a pay-as-you-go basis that can be dialed up or down as needed. Its subscription-based offerings, such as file backup, account for 72.4% of its business, while consumption-based arrangements, such as B2 services, account for 26.5% of its business. Indeed, going by its reviews, Backblaze customers generally seem very happy with the company's services. San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. The company sports straightforward pricing and transparent communication, leading it to become a trusted provider. Reuters reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around 1 billion. These span over 175 countries, protecting business data on approximately 2 exabytes, or 2 trillion megabytes, of data storage under management.īackblaze is targeting mid-market businesses, which it believes is an unmet segment ripe for the taking. That’s a step up from some of the most sluggish options we’ve seen, but it’s still a drag if you want to back up your day’s work before leaving the office.The company's IPO prospectus revealed it to have over 480,000 customers. Our 2GB folder took 49mins 35secs to upload. And remember that if you work with big video files or the like, they will inevitably take a while to reach Backblaze’s servers. That’s a necessary restriction: each account comes with unlimited storage to ensure that even the biggest files get protected. On that note, be aware that your subscription only entitles you to back up a single PC or Mac. Here you can also rescue lost or overwritten files from the past 30 days, and if one of your computers is stolen, you can bring up a map showing where it was when the Backblaze software last touched base. Even then, the client stays in the background because your uploaded files are browsed and downloaded from the publisher’s website. And if you don’t trust the automatic encryption, you can also set your own encryption key.įor the most part, though, you shouldn’t need to interact with Backblaze until it’s time to restore a backed-up item. Specific file types, locations and drives can be included and excluded – you’re even able to back up external drives – and you can optionally switch from continuous operation to daily or on-demand backups. Of course, if you want to get your hands dirty, there are a few things you can customise.
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