Backblaze Q3 beats revenue guidance; margins expand, but announces restructuring charges of $4.4-6.0M

Backblaze, Inc.

2025-Q3 EPS reported -$0.36 revenue$108,073,000

Q3 revenue $37.2M (+14% YoY); B2 storage revenue $20.7M (+28%); net loss narrowed to $3.8M from $12.8M.
Adjusted EBITDA $8.4M (23% margin) vs $3.7M (12%); non-GAAP net income $1.9M vs loss $4.1M.
Full-year revenue guidance narrowed to $145.4-146.0M; Adj. EBITDA margin raised to 18-20%; Q4 rev $37.3-37.9M.
Restructuring plan: total charges of $4.4-6.0M in Q4 2025, incl. facility impairment of $0.9-1.2M and employee costs.
B2 ARR $81.8M (+26% YoY); signed 7-figure expansion with AI video customer; gross margin expanded ~700 bps to 62%.

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