NASDAQ$BLZE

Backblaze Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Backblaze reported Q3 2025, revenue of $37.2M, net loss of $8M, diluted EPS of $-0.22.

For Q3 2025, Backblaze reported revenue of $37.2M, a net loss of $8M, diluted EPS was $-0.22. Management discusses operations, liquidity, and outlook in the quarterly filing.

  • Revenue $37.2M.
  • Net loss $8M.
  • Diluted EPS $-0.22.

Headline financials

Total Revenue

$37.2M

Previous: $32.6M+14.0%
EPS (adj)

-$0.22

Previous: -$0.29+24.1%
Annual Recurring Revenue

$147M

No prior period
B2 Cloud Storage ARR

$81.8M

No prior period
Computer Backup ARR

$65.4M

No prior period
Net Revenue Retention Rate

106.0%

Previous: 118.0%-10.2%
B2 Cloud Storage NRR

110.0%

Previous: 128.0%-14.1%
Computer Backup NRR

101.0%

Previous: 109.0%-7.3%
Gross Customer Retention

91.0%

Previous: 90.0%+1.1%
B2 Cloud Storage Gross Retention

89.0%

Previous: 89.0%+0.0%
Computer Backup Gross Retention

90.0%

Previous: 90.0%+0.0%
Adjusted Gross Profit

$29.4M

Previous: $25.5M+15.3%
Adjusted Gross Margin

79.0%

Previous: 78.0%+1.3%
Adjusted EBITDA

$8.39M

Previous: $3.75M+123.7%
Adjusted EBITDA Margin

23.0%

Previous: 12.0%+91.7%
Capital Expenditures

-$4.43M

Previous: -$885K-400.5%
Net Income

-$3.78M

Previous: -$12.8M+70.4%
Operating Income

-$3.32M

Previous: -$12.2M+72.8%
Gross Profit

$23.1M

Previous: $17.8M+29.8%

Revenue & EPS history

Backblaze · Revenue · Quarterly

$37.2M

Q3 2025+14%vs Q3 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Backblaze · $25.3M total across 2 segments · Q3 2023

  • Computer Backup
    $13.7M+4.6%
  • B2 Cloud Storage
    $11.6M+31.8%

Forward guidance

The filing discusses Backblaze's outlook, including capital allocation, operating priorities, and market risks relevant to the reported quarter.

Tailwinds

  • Backblaze cites operational priorities and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • GAAP profitability remained under pressure in Q3 2025.
  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-3.2%

Avg return

Earnings day

-1.9%

Avg return

5 days after

-5.3%

Avg return

30 days after

36%

8 / 22 earnings

Positive

+42.7%

Q4 2023

Best reaction

-35.7%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.5%+68.1%+78.4%
Q4 2025-15.3%-14.0%-19.7%
Q3 2025-6.3%-12.0%-19.3%
Q1 2025+16.0%+17.9%+25.7%
Q4 2024+5.5%-5.1%-21.5%
Q3 2024-14.1%-13.0%-13.9%
Q2 2024+26.4%+24.1%+12.5%
Q1 2024-23.3%-25.3%-38.4%
Q4 2023+42.7%+41.6%+21.1%
Q3 2023+1.8%+7.5%+43.3%
Q2 2023-14.8%-14.8%+34.4%
Q1 2023-1.4%+2.4%-2.2%
Q4 2022+13.8%+2.0%-17.0%
Q3 2022-5.5%+3.2%+11.2%
Q2 2021-3.6%-3.2%-17.9%
Q2 2022+1.6%+9.2%-11.2%
Q1 2021-7.8%-5.2%-9.8%
Q1 2022-24.7%-32.3%-40.1%
Q4 2021-35.7%-32.4%-25.9%
Q4 2020-12.8%-19.7%-36.7%
Q3 2020-12.8%-19.7%-36.7%
Q3 2021-4.6%-20.4%-33.2%
Q2 2020
Q1 2020

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