Backblaze shares jumped 12% after Backblaze exceeded third-quarter earnings and revenue estimates and raised fiscal 2026 revenue guidance above expectations. Backblaze released the results on Monday after trading ended, and shares traded higher Tuesday. Backblaze reported adjusted earnings of 9 cents per share, compared with a consensus forecast for an 8-cent loss. Third-quarter revenue increased 26% from a year earlier to $46,654,000, surpassing the $44,590,000 consensus estimate.
B2 Cloud Storage generated $30.5 million in revenue, an increase of 47%. Computer Backup revenue declined 2% to $16.2 million. Gross profit reached $29.8 million, with gross margin increasing from 62% to 64%. Adjusted EBITDA increased from $8.4 million to $15.2 million, representing a 33% margin. The net loss decreased from $3.8 million to $2.4 million.
Annual recurring revenue increased 29% to $190.7 million. B2 annual recurring revenue grew 53% to $126.8 million. Cash and marketable securities amounted to $230.2 million. Co-founder and CEO Gleb Budman said B2's year-over-year revenue growth accelerated from 28% a year ago to 47%, reflecting momentum throughout the customer base.
Backblaze said net additions of B2 self-serve customers reached a record, at four times the number a year earlier. Customers generating more than $50,000 each in annual recurring revenue increased 57% to 254. Backblaze signed four large agreements covering AI and core workloads. Net revenue retention declined from 107% a year earlier to 105%. B2 net revenue retention was 115%, compared with 116% a year earlier. Budman said Backblaze was strengthening Backblaze's position as the capacity tier for AI infrastructure companies and AI builders.
Backblaze increased fiscal 2026 revenue guidance from $172.0 million to $174.0 million to a new range of $177.8 million to $178.2 million. The fiscal 2026 consensus revenue estimate was $172,963,000. Backblaze projected fourth-quarter revenue between $49.8 million and $50.2 million, exceeding the $46,988,000 consensus estimate. Benzinga Pro data showed Backblaze shares trading at $8.01, an increase of 8.24%, at publication.
Backblaze Stock Rises 12% After Earnings Beat and Raised Revenue Guidance
BenzingaShare
Summary
Backblaze (NASDAQ:BLZE) shares jumped 12% after the company beat earnings estimates and raised revenue guidance. Adjusted earnings came in at 9 cents per share, above the expected 8-cent loss, while revenue hit $46.65 million, a 26% increase year-over-year. The positive results have sparked renewed interest in altcoins to watch, as the fear and greed index shows growing market optimism. Backblaze now expects fiscal 2026 revenue between $177.8 million and $178.2 million.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.