Backblaze announces executive transition

Backblaze , Inc. (NASDAQ:BLZE), a cloud storage and online backup services company with annual revenues of $132.3 million and impressive revenue growth of 22% year-over-year, reported on Friday a forthcoming change in its leadership team. The company’s Senior Vice President of Engineering, Tina Cessna, will step down from her role at the end of August 2025 after a transition period. The announcement was made in a regulatory filing with the Securities and Exchange Commission.

Cessna’s decision to leave marks the end of her tenure with Backblaze, which began with her existing severance agreement dated May 18, 2021. The terms of her severance benefits are consistent with the company’s previously filed annual proxy statement. According to InvestingPro data, the company maintains a moderate debt level with a healthy current ratio of 1.09.

During the interim, as Backblaze searches for a replacement, the Chief Technology Officer, Brian Beach, will oversee the engineering organization. The company has expressed its gratitude to Ms. Cessna for her contributions and leadership during her time with the firm.

Backblaze, headquartered in San Mateo, California, is incorporated in Delaware and is listed on The Nasdaq Stock Market LLC under the trading symbol BLZE. The company has not disclosed further details regarding the reasons for Cessna’s departure or the specifics of the search for her successor.

The information provided is based on a press release statement and the company’s SEC filing.

In other recent news, Backblaze, Inc. has reported its first-quarter 2025 earnings, revealing a revenue of $34.6 million, which surpassed the anticipated $34.22 million. The company’s adjusted earnings per share (EPS) stood at -$0.03, better than the forecasted -$0.06. In addition to its earnings report, Backblaze has secured a $20 million senior secured revolving credit facility with Citizens Bank to bolster its liquidity and support strategic growth initiatives. The credit facility provides Backblaze with financial flexibility, featuring an interest rate based on an adjusted Secured Overnight Financing Rate plus a margin.

Furthermore, Backblaze announced the private preview of its new enterprise web console, aimed at enhancing cloud storage security with features like role-based access controls and mandatory multi-factor authentication. This development is part of Backblaze’s efforts to provide secure cloud storage alternatives. Additionally, the company has raised its full-year revenue guidance to a range of $144-$146 million, reflecting confidence in sustained growth. Analyst firms such as Needham and Craig Hallum have shown interest in Backblaze’s performance, with discussions focusing on the company’s AI initiatives and customer acquisition strategies. These developments underscore Backblaze’s ongoing growth and expansion efforts in the cloud storage market.

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