Companies /Technology

Backblaze Inc - Class A

NASDAQ: BLZE Software - Infrastructure
$14.13
▼ $0.20 (−1.40%) today
Markets closed · 11:01pm ET

Q2 2026 Earnings

Reported Aug 3, 2026, 4:06pm ET · SEC source
$0.08
Beat +367.84%
EPS · est. $0.02
$42.7M
Beat +6.96%
Revenue · est. $39.9M
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−20%0+20%Aug 3Aug 4report 4:06pm ETearnings+1.9%+16.5%
−20%0+20%Aug 3Aug 4earnings+1.9%+16.5%
BLZE +16.5%S&P 500 +1.9%
−20%0+20%Aug 3Aug 4report 4:06pm ETearnings+3.2%+16.5%
−20%0+20%Aug 3Aug 4earnings+3.2%+16.5%
BLZE +16.5%NASDAQ +3.2%
−20%0+20%Aug 3Aug 11report 4:06pm ETearnings+1.7%+1.9%
−20%0+20%Aug 3Aug 11earnings+1.7%+1.9%
BLZE +1.9%S&P 500 +1.7%
−20%0+20%Aug 3Aug 11report 4:06pm ETearnings+2.6%+1.9%
−20%0+20%Aug 3Aug 11earnings+2.6%+1.9%
BLZE +1.9%NASDAQ +2.6%
+26.94%
Day of report
−5.91%
Next session
−5.46%
One week

Did BLZE Beat Earnings? Q2 2026 Results

Backblaze, Inc. delivered a blowout second quarter for fiscal 2026, posting non-GAAP EPS of $0.08 against a consensus estimate of $0.02, a beat of 367.84%, extending the company's streak of topping consensus EPS estimates to five consecutive quarters. Revenue climbed 17.7% year-over-year to $42.71 million, clearing the $39.94 million consensus by 6.96%, with B2 Cloud Storage as the clear engine, accelerating to 34% year-over-year growth and pushing total ARR to $177.30 million. The quarter's defining moment was the signing of a 5-plus-year, $335.00 million strategic agreement with CoreWeave, positioning Backblaze as a capacity storage tier for AI workloads and vaulting remaining performance obligations to roughly $396.00 million. Adjusted EBITDA margin expanded to 30%, nearly double the 18% recorded a year ago. Buoyed by these results and signed commitments supporting a 40%-plus B2 revenue growth outlook for 2027, management raised full-year 2026 revenue guidance to $172.00 million to $174.00 million and lifted Adjusted EBITDA margin guidance to 27%-29%.

Key Takeaways
  • B2 Cloud Storage revenue growth accelerated to 34% YoY
  • ARR from customers generating $50K+ grew 67% YoY
  • $50K+ ARR customer count grew 57% YoY
  • Adjusted EBITDA margin expanded to 30% from 18% in Q2 2025
  • Adjusted gross margin expanded to 80% from 79%
  • AI workloads driving broad-based B2 traction

“Q2 was an amazing quarter for Backblaze. We exceeded the high end of our revenue and Adjusted EBITDA guidance, with B2 growth accelerating to 34% year over year.”

Backblaze CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2026, Backblaze expects revenue between $44.4 million and $44.8 million, with Adjusted EBITDA margin between 27% and 29% and basic weighted average shares outstanding of 62.3 million to 62.5 million. For full-year 2026, the company raised its revenue outlook to $172.0 million to $174.0 million (from $161.5 million to $163.5 million) and raised Adjusted EBITDA margin guidance to 27%–29% (from 23%–25%). The company also indicated signed commitments enable B2 Revenue directional growth outlook of 40%+ in 2027.

BLZE YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$20.0M$40.0M$36.3M$42.7MRevenue$23.0M$26.8MGross Profit$-3,027,709$-4,174,000Operating Income$-3,966,794$-5,089,000Net Income
$0$20.0M$40.0MRevenueGross ProfitOperating IncomeNet Income

BLZE Revenue by Segment

B2 Cloud Storage$26.6M+34.0%
Computer Backup$16.1M−2.0%

Figures from SEC filings and company reports. Not investment advice.