Added to YB: 2025-04-28
Pitch date: 2025-04-24
BLZE [bearish]
Backblaze, Inc.
-1.35%
current return
Author Info
Morpheus Research was founded in 2025 by a team of financial analysts dedicated to exposing fraud and corporate misconduct in financial markets.We publish deep-dive investigative research on companies that we feel are fundamentally misunderstood by the market. While our research may lead to uncomfortable conclusions, we strive only to offer the truth. Sign up for the newsletter.
Company Info
Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally.
Market Cap
$248.2M
Pitch Price
$4.45
Price Target
N/A
Dividend
N/A
Sector
IT Services
Category
N/A
Backblaze: A Loss-Making Data Storage Business Mired in Lawsuits, Sham Accounting, and Brazen Insider Dumping
BLZE short: Cloud storage provider at 71% below IPO w/ continuous losses, 80% share dilution & lawsuits alleging accounting fraud. Founders aggressively sold shares against advice. Excessive software cost capitalization (9.8-14.4% of revenue vs 2.1% peer avg) masks losses. New CFO from failed MLM. No product differentiation vs hyperscalers/Wasabi who's stealing AI customers.
Read full article (25 min)