Backblaze (NASDAQ: BLZE) Delivers Strong Q3 Earnings Driven by Cloud Storage and AI Growth

• Backblaze (NASDAQ: BLZE) exceeded revenue and profit expectations in its latest quarterly results.
• The company's earnings per share (EPS) of $0.08 significantly beat the consensus estimate of $0.017.
• The B2 cloud-storage segment achieved 34% year-over-year growth, supported by a $335 million agreement with AI provider CoreWeave.

Backblaze (NASDAQ: BLZE) is a cloud storage and data backup company. It provides services for both individual users and businesses. Its B2 Cloud Storage is a key offering for developers and IT professionals, competing in a market with larger cloud providers.

On August 3rd, 2026, Backblaze reported strong quarterly results. The company announced revenue of $42.71 million, surpassing the estimated $39.93 million. As highlighted by MarketBeat, this represents an 18% year-over-year increase and was $2.5 million above the high end of its own guidance.

The company also beat profit expectations with an earnings per share (EPS) of $0.08, which was significantly higher than the consensus estimate of $0.017. This profitability is reflected in its adjusted EBITDA, a measure of operational cash flow, which nearly doubled to $13 million.

A key driver for this performance is the B2 cloud-storage segment, which grew 34% year-over-year, its strongest rate in seven quarters. This growth is supported by new AI-related customers. As noted by BusinessWire, Backblaze signed a strategic $335 million agreement with AI provider CoreWeave. Its Debt-to-Equity ratio of 0.93 shows its assets are financed by a near-equal mix of debt and shareholder funds.