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 ( BLZE ) 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 ( BLZE ) 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/Mis Actual Consensu

s s

Estimate

Q2 Beat $36.30 $35.40

Revenue mln mln (8

Analysts

)

Q2 Beat $0.01 -$0.18

Adjusted (6

EPS Analysts

)

Q2 EPS -$0.13

Q2 $800,000

Adjusted

Net

Income

Q2 Net -$7.10

Income mln

Q2 $28.80

Adjusted mln

Gross

Profit

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 ( BLZE ) is $11.00, about 51.4% above its August 6 closing price of $5.35

Press Release:

(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.)