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.
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%.
Visualization of income flow from segment revenue to net income
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