Cloud storage provider Backblaze's Q3 revenue beats; raises FY outlook
BLZE•Backblaze's third-quarter revenue rose 26% year over year to $46.7 million, beating the $44.59 million analyst estimate. The company raised its 2026 revenue outlook to $177.8 million-$178.2 million from $172 million-$174 million.
1. Revenue growth
Backblaze reported third-quarter revenue of $46.7 million, up 26% year over year and above the $44.59 million analyst estimate. B2 Cloud Storage revenue grew 47%, with the company citing customer additions, growth in large customers and four large agreements, including three supporting AI workloads.
2. Outlook and financing
The company expects fourth-quarter 2026 revenue of $49.8 million-$50.2 million and an adjusted EBITDA margin of 32%-34%. It raised its 2026 revenue outlook to $177.8 million-$178.2 million from $172 million-$174 million and completed a $201 million convertible notes offering for growth and general purposes.
