Backblaze Reports Strong Q2 2025 Financial Performance

Backblaze, Inc. ( (BLZE) ) has released its Q2 earnings. Here is a breakdown of the information Backblaze, Inc. presented to its investors.

Backblaze, Inc., a cloud storage innovator, offers high-performance and secure cloud object storage solutions for various applications, including AI workflows and data protection, distinguishing itself as a modern alternative to traditional cloud providers. In its second quarter of 2025, Backblaze reported a 16% year-over-year revenue growth, reaching $36.3 million, with its B2 Cloud Storage segment experiencing a remarkable 29% increase. The company also reduced its net loss to $7.1 million from $10.3 million in the previous year, showcasing improved financial health.

Key financial highlights include a gross profit of $23.0 million, representing 63% of revenue, and an adjusted EBITDA of $6.6 million, up from $2.7 million in the same quarter last year. The company’s annual recurring revenue reached $145.9 million, with the B2 Cloud Storage segment contributing $80.7 million. Strategic advancements were made with the launch of new cybersecurity features and the signing of significant customer contracts, underscoring the scalability and market fit of Backblaze’s offerings.

Backblaze’s operational achievements include scaling an AI customer to several million dollars in annual recurring revenue and securing a new $20 million credit facility to enhance financial flexibility. The company also initiated a cash-neutral stock repurchase program and was recognized for its cost-effective cloud storage solutions by an independent analyst firm.

Looking forward, Backblaze anticipates continued growth, with projected revenues between $36.7 million and $37.1 million for the third quarter of 2025 and an adjusted EBITDA margin of 17% to 19%. The company remains committed to leveraging product innovation and strategic initiatives to solidify its position as a leading independent cloud storage provider in an AI-driven future.