Backblaze achieved a 15% year-over-year revenue increase to $34.6 million in Q1 2025, driven by a 23% growth in B2 Cloud Storage revenue. The company also reported improved gross profit and adjusted EBITDA, indicating enhanced operational efficiency.
Total revenue increased by 15% year-over-year to $34.6 million.
B2 Cloud Storage revenue grew by 23% year-over-year, reaching $18.0 million.
Adjusted EBITDA significantly improved to $6.4 million, representing 18% of revenue, compared to $1.9 million (6% of revenue) in Q1 2024.
Net loss decreased to $9.3 million from $11.1 million in Q1 2024, and non-GAAP net loss improved to $1.8 million from $5.5 million.
Backblaze expects continued growth in revenue and improved Adjusted EBITDA margins for both Q2 2025 and the full year 2025, with a strong focus on B2 business expansion.
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