Backblaze responds to claims of “sham accounting,” customer backups at risk

Backblaze denies accusations in short sellers' report

: Cloud storage biz says 'baseless allegations' are attempts by analysts to profit

Backblaze responds to claims of “sham accounting,” customer backups at risk

Short seller publishes report detailing allegations about Backblaze’s financials…

Backblaze Responds to Claims of ‘Sham Accounting’ From Sketchy ‘Research’ Firm – Pixel Envy

In March, a firm named Morpheus Research published its first report examining Solaris Energy and taking a short position against it. Last week, they published their second report alleging a massive financial scam is brewing at Backblaze. Again, they are shorting Backblaze stock. There is no information about who is behind Morpheus Research, only an about page saying it is a “team of financial analysts dedicated to exposing fraud and corporate mi…

Backblaze responds to claims of “sham accounting,” customer backups at risk - WorldNL Magazine

Backblaze went public in November 2021 and raised $100 million. Morpheus noted that since then, “Backblaze has reported losses every quarter, its outstanding share count has grown by 80 percent, and its share price has declined by 71 percent.” Following Morpheus’ report, Investing reported on Thursday that Backblaze shares fell 8.3 percent. Beyond the financial implications for stockholders, Morpheus’ report has sparked some concern for the prim…