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Backblaze beats Q3, raises 2026 revenue guidance on AI momentum

Nov 3, 2026, 10:38 AM EST1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strong quarterly beat, raised full-year guidance, and meaningful AI deal momentum historically foster short- to medium-term upside; similar patterns in micro-cap/cloud names can trigger multi-week rallies as visibility improves.

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What happened, with direct paths to the underlying reporting

Backblaze reported a solid Q3 with a positive earnings surprise and revenue beat, prompting an raise in its 2026 revenue outlook. The company highlighted strong B2 Cloud Storage growth and significant AI-related deal momentum, with ARR climbing and cash holdings robust at $230.2M. The improved guidance and AI traction suggest a durable growth trajectory into fiscal 2026.

Q3 EPS 0.09 vs -0.08; revenue $46.654M, +26% YoY.
B2 Cloud Storage revenue up 47% to $30.5M.
ARR up 29% to $190.7M; B2 ARR up 53% to $126.8M.
FY2026 revenue guidance raised to $177.8-178.2M; Q4 guide $49.8-50.2M.
Net loss narrowed to $2.4M; EBITDA $15.2M; four AI deals.

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