Backblaze Announces Second Quarter 2026 Financial Results
Backblaze (Nasdaq: BLZE) reported Q2 2026 revenue of $42.7M, up 18% YoY, with B2 Cloud Storage revenue at $26.6M (+34%). Adjusted EBITDA was $12.8M. Net loss was $5.1M. It signed a 5+ year, $335M CoreWeave agreement and raised FY2026 revenue to $172M-$174M.
How this was made
The 30-second read
Why it matters
The release combines operational KPIs (ARR, retention, RPO) with financial results (revenue, gross profit, Adjusted EBITDA) and a raised FY outlook, creating a clear re-rating catalyst for the stock.
Market read
Traders get a beat-and-raise earnings/guidance update plus a large AI infrastructure agreement that increases revenue visibility.
What to watch
Adjusted free cash flow for the six months was only $1.4 million, so margin and cash conversion sustainability versus growth spending should be monitored into Q3.
Background
Backblaze positions B2 Cloud Storage as the object storage layer for AI and data-intensive workloads, with ARR and retention metrics used to track scaling.
Ticker impact
Backblaze reported Q2 2026 results and raised full-year 2026 revenue and Adjusted EBITDA margin outlook, citing accelerating B2 growth.
Near-term upside bias as traders reprice growth and margin expectations; follow-through depends on Q3 execution versus the guided range.
The article discloses multiple fresh, decision-relevant datapoints: Q2 revenue and Adjusted EBITDA outperformance versus guidance, raised FY 2026 outlook, and a $335 million CoreWeave strategic agreement that boosts RPO and revenue visibility.
Market effects
Reinforces demand for AI infrastructure storage capacity and may support sentiment toward object storage and AI data infrastructure providers.
Limited direct regional read-through; primarily US small-cap growth sentiment.
CoreWeave partnership and AI workload framing can influence broader AI infrastructure investment narratives, though impact is company-specific.
Counterpoint
Computer Backup revenue was slightly down YoY and NRR softened for that segment, so consolidated growth may rely heavily on B2 acceleration.
Key entities
- public_companyBackblaze, Inc.
Nasdaq-listed object storage platform reporting Q2 2026 results and raised FY 2026 guidance.
- public_or_private_counterpartyCoreWeave
Strategic partner in a 5+ year, $335 million agreement with warrants, cited as a driver of RPO and AI workload validation.
