secwatch.observer — SEC 8-K summary
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Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001628280-25-049848
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000162828025049848/0001628280-25-049848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000162828025049848/blze-20251106.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-049848

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer