Backblaze Q2 revenue up 16%, beats expectations

Backblaze

07/08/2025 12:37

Overview

Backblaze Q2 2025 revenue grows 16% YoY, beating analysts' expectations

Adjusted EPS for Q2 beats consensus, marking turnaround

Co announces $10 mln stock repurchase program

Outlook

Backblaze expects Q3 revenue between $36.7 mln and $37.1 mln

Company anticipates full-year revenue of $145.0 mln to $147.0 mln

Backblaze projects Q3 adjusted EBITDA margin of 17% to 19%

Company forecasts B2 business growth of 28%-30% in Q3

Result Drivers

B2 CLOUD STORAGE GROWTH - Revenue from B2 Cloud Storage increased by 29% YoY, driven by product innovation and AI workload solutions

CYBERSECURITY INNOVATION - Introduction of AI-powered 'Anomaly Alerts' and other cybersecurity features bolstered customer engagement

NEW CUSTOMER SIGNINGS - First six-figure B2 Overdrive customer signed, demonstrating strong product-market fit for AI use cases

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$36.30 mln
$35.40 mln (8 Analysts)
Q2 Adjusted EPS
Beat
$0.01
-$0.18 (6 Analysts)
Q2 EPS
-$0.13
Q2 Adjusted Net Income
$800,000
Q2 Net Income
-$7.10 mln
Q2 Adjusted Gross Profit
$28.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the it services & consulting peer group is "buy"

Wall Street's median 12-month price target for Backblaze Inc is $11.00, about 51.4% above its August 6 closing price of $5.35

Press Release: ID:nBw76wPQta

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)