Backblaze (BLZE)

IPO Stage
BETA

The astonishingly easy storage cloud

Analytics

Stage

IPO

Platform

Robinhood

IPO Date

11/11/2021

Method of Going Public

IPO

Expected Public Exchange

Nasdaq

Price Range

$15 - $17

Security Type

Equity - Common

Funding Type

S-1

Series

Series A

IPO Valuation

$500M

IPO Lead Underwriter

Oppenheimer & Co., William Blair, Raymond James

# of Acquisitions

0

Location

San Mateo, California

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Business Type

Growth

Backblaze, with an expected public market valuation of approximately $500 million, will go public November 17, 2021. Backblaze is the developer of cloud storage and computer backup software for enterprises. Gleb Budman, Brian Wilson, and Tim Nufire founded Backblaze in 2007. The company will trade under the ticker "BLZE" on the Nasdaq and the company is offering over 6 million shares at a price range of $15 - $17.

Income Statement

Revenue

$53,784,000

Operating Expenses

Research/Technology & Development

$13,069,000

Sales & Marketing

$11,924,000

General & Administrative

$6,722,000

Total Operating Expenses

$31,715,000

Operating Income

$-3,732,000

Other Income, Net

$0

Income (Loss) Before Provision For (Benefit From) Income Taxes

$-6,618,000

Provision For (Benefit From) Income Taxes

$-5,000

Net Income (Loss)

$-6,623,000

 

Net Income (Loss) Attributable to Common Stockholders:

Basic

$0.00

Diluted

$0.00

Net Income (Loss) Per Share Attributable to Common Stockholders:

Basic

$-0.36

Diluted

$-0.36

Weighted-Average Shares of Common Stock Used For Pro Forma:

Basic

18,609,422

Diluted

18,609,422

Balance Sheet - Assets

Current Assets

Cash and Cash Equivalents

$6,076,000

Accounts Receivable

$209,000

Total Current Assets

$9,232,000

Property and Equipment, Net

$38,746,000

Goodwill

$0

Intangible Assets, Net

$0

Restricted Cash

$0

Other Assets

$809,000

Total Assets

$54,469,000

Balance Sheet - Liabilities

Current Liabilities

Accounts Payable

$1,710,000

Accrued Expenses

$3,596,000

Other Current Liabilities

$0

Total Current Liabilities

$36,374,000

Total Liabilities

$58,525,000

Commitments and Contingencies

Convertible Preferred Stock

$2,784,000

Stockholders' (deficit) Equity

Common Stock

$5,000

Additional Paid In Capital

$7,794,000

Accumulated Other Comprehensive Income (Loss)

$-14,639,000

Total Stockholders' (Deficit) Equity

$-6,840,000

Statements of Cash Flows

Cash Flows from Operating Activites

Net Cash Provided By (Used In) Operating Activities

$12,819,000

Cash Flows from Investing Activites

Net Cash Provided By (Used In) Investing Activities

$-4,973,000

Cash Flows from Financing Activites

Net Cash Provided By (Used In) Financing Activities

$-8,748,000

Total Cash, Cash Equivalents, and Restricted Cash

$0

Financials as of: 10/18/2021
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Backblaze IPO 2021: Price, Dates, and All You Need to Know
$
Platform: Robinhood
Security Type: Equity - Common
Valuation: $500,000,000

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