Backblaze reports Q3 EPS 3c, consensus (2c)

Reports Q3 revenue $37.16M, consensus $36.93M. “I am pleased with our third quarter financial results exceeding the high end of our revenue and Adjusted EBITDA guidance and expanding gross margin by ~700 bps YoY to 62%. We remain on track to be free-cash-flow positive in Q4. B2 Cloud Storage grew 28% YoY and we won another seven-figure expansion with an existing customer, reinforcing the value of our price-performance and open platform,” said Gleb Budman, CEO of Backblaze (BLZE). “As customers build AI and data-intensive workflows, they need high performance, predictable costs, and S3-compatibility without lock-in, a combination that sets Backblaze apart.”