Backblaze Positioned for Growth and Profitability Amid AI-Driven Cloud Storage Demand
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Backblaze is positioned for growth and profitability, according to Jason Ader's Buy rating. The company offers cost-effective storage solutions that differentiate it from larger competitors. Its B2 Cloud segment is expected to grow over 30% by fiscal 2025, driven by AI advancements. Strategic changes, including direct sales teams and upskilling, are yielding positive results. The demand for scalable storage solutions is increasing due to AI trends, and management is focused on improving profitability through margin expansion and free cash flow generation, despite ongoing growth reacceleration.
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