Backblaze Q2 revenue up 16%, beats expectations
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
