Backblaze Q2 Revenue Beats by 7%, Raises Full-Year Outlook; Shares Surge 13%
BLZE has more than doubled off its 52-week low of $3.261.
Summary
Backblaze delivered a strong Q2 beat with revenue of $42.7M, up 18% YoY and well above the $39.9M consensus. Adjusted EPS swung to a positive $0.08 versus expectations of a $0.11 loss, driven by 34% growth in B2 Cloud Storage revenue tied to AI workloads. The company raised its full-year revenue guidance to $172M-$174M and adjusted EBITDA margin to 27%-29%, signaling confidence in the ramp of its $335M CoreWeave deal announced in June. Shares jumped 13% after hours, reflecting the magnitude of the beat and the upward revision. With the stock near its 52-week high, the raised outlook and improving profitability metrics reinforce the AI storage thesis.
At the time of this announcement, BLZE was trading at $17.73 on NASDAQ in the Technology sector, with a market capitalization of approximately $935.4M. The 52-week trading range was $3.26 to $18.25. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.