Backblaze (BLZE) Q2 2026 Earnings
How Did BLZE Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +0.24%.
Did BLZE Beat Earnings? Q2 2026 Results
Yes. Backblaze reported Q2 2026 earnings of $0.08 a share on Aug 3, 2026, beating the $0.02 consensus estimate by 367.8%. Revenue was $42.7M against a $39.9M estimate.
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%.
- 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
What Is Backblaze's 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
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $42.7M | $36.3M | +17.7% |
| Gross Profit | $26.8M | $23.0M | +16.5% |
| Operating Income | −$4.2M | −$3.0M | +37.9% |
| Net Income | −$5.1M | −$4.0M | +28.3% |
BLZE Revenue by Segment
When Does Backblaze Report Next?
Figures from SEC filings and company reports. Not investment advice.