EL7.AI
StocksMedium•4 August 2026•
1 min read

Backblaze Q3 Earnings Beat Estimates Driven by Cloud and AI Growth

Key Facts

1Backblaze reported EPS of $0.08, significantly beating the consensus estimate of $0.017.
2B2 cloud storage revenue grew 34% year-over-year, supported by a $335 million agreement with AI provider CoreWeave.
3Total revenue reached $42.71 million, surpassing the estimated $39.93 million.

Reflecting the accelerating demand for AI infrastructure, Backblaze reported strong financial results for the third quarter of 2026, exceeding both top and bottom-line analyst estimates. The company posted earnings per share (EPS) of $0.08, significantly higher than the consensus estimate of $0.017. Total revenue reached $42.71 million, surpassing the projected $39.93 million, signaling robust fundamental momentum across its core business segments.

According to reports, the primary driver for this performance was the B2 Cloud Storage segment, which grew 34% year-over-year, marking its strongest growth rate in seven quarters. This expansion was bolstered by a strategic $335 million agreement with AI infrastructure provider CoreWeave. Financial data also highlighted improved operational efficiency, as adjusted EBITDA nearly doubled to reach $13 million during the period.

Investors will be watching for continued growth sustainability as the company competes with larger cloud providers. On the macroeconomic front, U.S. Consumer Confidence data released on July 28, 2026, came in at 90.8, below expectations, which may influence broader market sentiment regarding the technology sector.