Loading...
•
Dec 31, 2025
Backblaze Q4 2025 Earnings Report
Delivered double-digit revenue growth with improved profitability and positive adjusted free cash flow in the fourth quarter.
Key Takeaways
Backblaze reported Q4 2025 revenue of 37762000, up 12% year over year, driven by 24% growth in B2 Cloud Storage. Net loss narrowed to 5413000, while adjusted EBITDA increased to 10415000 with a 28% margin and adjusted free cash flow turned positive.
Revenue increased 12% year over year to 37762000.
B2 Cloud Storage revenue grew 24% year over year to 21300000.
Net loss improved to 5413000 compared to 14377000 in Q4 2024.
Adjusted EBITDA reached 10415000 with a 28% margin.
Revenue by Segment
Forward Guidance
For Q1 2026, the company expects revenue between 37600000 and 38000000 and adjusted EBITDA margin between 18% and 20%. For full year 2026, revenue is expected between 156500000 and 158500000 with adjusted EBITDA margin between 19% and 21%.
Positive Outlook
- Q1 2026 revenue guidance implies continued growth.
- Full year 2026 revenue guidance up to 158500000.
- Adjusted EBITDA margin expected between 19% and 21% for full year 2026.
- Continued momentum in B2 Cloud Storage and AI-related workloads.
- Positive adjusted free cash flow achieved in Q4 2025.
Challenges Ahead
- Net revenue retention rate declined year over year.
- Computer Backup ARR was flat year over year.
- Overall customer count declined year over year.
- Company remains GAAP unprofitable.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...