Q2 26 EPS
$0.08
BEAT +367.84%
Est. $0.02
Q2 26 Revenue
$42.7M
BEAT +6.96%
Est. $39.9M
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… Read more 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
BLZE 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, source: SEC Filings
BLZE Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Gleb Budman, Q2 2026 Earnings Press Release
BLZE Earnings Trends
BLZE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BLZE EPS Trend
Earnings per share: estimate vs actual
BLZE Revenue Trend
Quarterly revenue: estimate vs actual
BLZE Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.02 | $0.08 | +367.84% | $42.7M | +6.96% |
| Q1 26 BEAT | $0.00 | $0.04 | +1,112.12% | $38.7M | +2.30% |
| Q4 25 BEAT FY | $0.01 | $0.06 | +426.32% | $37.8M | +0.58% |
| FY Full Year | — | $0.07 | — | $145.8M | — |
| Q3 25 BEAT | $-0.02 | $0.03 | +275.44% | $37.2M | +0.63% |
| Q2 25 BEAT | $-0.05 | $0.01 | +119.05% | $36.3M | +2.49% |
| Q1 25 BEAT | $-0.06 | $-0.03 | +50.00% | $34.6M | +1.16% |