Core Insights - Backblaze, Inc. (NASDAQ: BLZE) is recognized in the cloud storage industry, with Oppenheimer setting a price target of $8.50, indicating a potential upside of approximately 94.51% from its current trading price of $4.37 [1] Financial Performance - In Q4 2025, Backblaze reported earnings of $0.06 per share, exceeding the Zacks Consensus Estimate of $0.01, marking a 351.13% earnings surprise compared to a loss of $0.06 per share in the same quarter last year [2][6] - The company's revenue for the quarter ending December 2025 was $37.76 million, slightly above the Zacks Consensus Estimate by 0.73%, and up from $33.79 million reported a year ago, demonstrating consistent revenue growth [3][6] Strategic Developments - Backblaze achieved a significant milestone by closing its first eight-figure total contract value neocloud agreement, which highlights the strength of its storage cloud platform [4][6] - The launch of B2 Neo, a neocloud-specific storage offering, further showcases Backblaze's capabilities in the AI-driven cloud storage market [4] Market Position - Currently, BLZE is priced at $4.37 with a market capitalization of approximately $252.05 million, and the stock has shown volatility, trading between $4.31 and $4.54 today [5] - Over the past year, BLZE has experienced a high of $10.86 and a low of $3.83, reflecting its fluctuating nature in the market [5]

Backblaze, Inc. (BLZE) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to a loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +351.13%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced earnings of $0.03, delivering a surprise of +400%.Over the last four quarters, the company has ...

Backblaze (NasdaqGM:BLZE) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsGleb Budman - Co-founder, CEO and ChairpersonMarc Suidan - CFOMimi Kong - Senior Director of Investor Relations and Corporate DevelopmentRustam Kanga - VP of ResearchConference Call ParticipantsEric Martinuzzi - Senior Research AnalystEthan Widell - AnalystIttai Kidron - Managing Director and Senior AnalystJason Ader - Equity Research Analyst and Co-Head of Technology GroupJeff Van Rhee - Partner and Senior Equ ...

Financial Data and Key Metrics Changes - For Q4 2025, total revenue was $37.8 million, in line with guidance, and adjusted EBITDA margin reached 28%, doubling from the prior year [6][17] - Full year revenue grew 14% year-over-year, with B2 Cloud Storage growing 26% [6][17] - Adjusted Free Cash Flow was positive $4 million in Q4, representing a margin of 11% [20][23] Business Line Data and Key Metrics Changes - B2 revenue grew 24% year-over-year in Q4, up from 22% in the prior year [17] - B2 net revenue retention (NRR) was 111%, down from 116% in the prior quarter, reflecting variability from a large customer [18] - The number of customers generating over $50,000 in ARR increased by 35% year-over-year, with their ARR growing 73% year-over-year to $26 million [8][18] Market Data and Key Metrics Changes - The market for NeoClouds is projected to reach $237 billion within the next five years, with Backblaze estimating a $14 billion opportunity in NeoCloud storage by 2030 [13] - The company added 12,000 customers in its self-serve platform this year, indicating strong demand from AI developers [15] Company Strategy and Development Direction - Backblaze is focusing on a go-to-market transformation to drive growth, including initiatives to increase awareness, drive pipeline consistency, and expand revenue within the existing customer base [9][10] - The company is positioning itself to take advantage of the AI opportunity by becoming the storage backbone for AI workflows [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth opportunity presented by AI, despite potential market volatility [11] - The company anticipates some pressure on gross margins due to increased costs but is launching a gross margin optimization initiative [19] Other Important Information - The company closed its largest contract in history with over $15 million in total contract value, validating product-market fit at scale [17] - Management is shifting part of compensation to Performance-Based Stock Units to align incentives with shareholders [21] Q&A Session Summary Question: Can you explain how B2 Neo differs from B2 and the demand patterns? - B2 Neo is a white label offering designed for NeoClouds, allowing them to manage storage for their customers through APIs, while B2 is sold directly to end customers [27][28] Question: What is the duration of the $50 million contract? - The contract is a three-year deal [75] Question: What is the expected decline in the computer backup business? - The computer backup business is expected to decline by 5% year-over-year, with a -3% decline in Q1 [32] Question: What factors are affecting gross margins? - Increased data center costs and the need to accelerate capital expenditures are expected to reduce gross margins by a few hundred basis points [52] Question: What is the outlook for NRR in 2026? - NRR could drop to around 100% for 1 or 2 quarters due to the lumpiness of a large customer, but is expected to stabilize around 110% by year-end [61][63]

Backblaze (NasdaqGM:BLZE) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Speaker9Good day, everyone. Welcome to the Backblaze fourth quarter and full year 2025 earnings call. Just a reminder, this call is being recorded. I would now like to hand the call over to Ms. Mimi Kong. Please go ahead.Speaker8Thank you. Good morning, and welcome to Backblaze's fourth quarter and full year 2025 earnings call. On the call with me today are Gleb Budman, Co-founder, CEO, and Chairperson of the Board, and Marc Suida ...

Q4 & FY 2025 Results February 23, 2026 Gleb Budman CEO and Co-Founder Backblaze Marc Suidan CFO Backblaze ©2026 | 1 Important Information About This Presentation Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "lik ...

Exhibit 99.1 Backblaze Announces Fourth Quarter and Full Year 2025 Financial Results 24% Revenue Growth in B2 Cloud Storage, 12% Revenue Growth Overall in Q4 2025 San Mateo, CA (February 23, 2026)—Backblaze, Inc. (Nasdaq: BLZE), the high-performance cloud storage platform for the AI era, today announced results for its fourth quarter ended December 31, 2025. "In Q4, we closed our first eight-figure TCV neocloud agreement," said Gleb Budman, co-founder and CEO of Backblaze. "This marks yet another neocloud w ...

Core Insights - The presentation discusses the annual review of drive statistics for the year 2025, highlighting the importance of data collection and analysis in understanding drive performance and failure rates [1][2]. Group 1: Drive Stats Overview - Drive Stats has been collecting and publishing raw device metrics since 2013, focusing on daily data collection for each drive in production, including serial numbers, model IDs, smart attributes, and failure status [2]. - The data collected allows the company to calculate annualized failure rates and other relevant statistics, providing valuable insights into drive reliability [2]. Group 2: Webinar Details - The webinar is recorded for later access, allowing participants to return to the content if needed, and encourages audience engagement through questions [1]. - Additional resources are provided, including a year-end report link, an archive link for newsletter subscriptions, and a home base for accessing historical statistics spanning 13 years [1].

Core Insights - Backblaze's Q4 2025 Network Stats report highlights a significant increase in AI-driven data traffic to neoclouds, indicating a shift towards AI-native network behavior optimized for large-scale model training and inference [1] Group 1: Network Behavior Changes - AI is rapidly reshaping network behavior, with data traffic patterns showing a concentration in the US-East region, particularly around neocloud compute hubs in Northern Virginia, New York, and Atlanta [1] - The report indicates that large datasets are increasingly moving in short, sustained bursts, contrasting with previous diffuse internet traffic patterns [1] Group 2: Traffic and Migration Trends - US-West remains crucial for consumer traffic, leading in total traffic volume due to lower latency connections to consumer networks [1] - Migration traffic saw a spike from August through October, driven by the onboarding of large datasets via private fiber [1] Group 3: AI Traffic Characteristics - High-magnitude AI flows are becoming the norm, with a validated shift from many-to-many internet traffic to sustained, high-throughput connections between specialized storage and compute systems [1] - The report emphasizes the importance of low-latency connectivity for model training workloads, as AI traffic concentrates in specific regions [1]

Core Insights - Backblaze, Inc. has been recognized as a finalist for the Most Innovative Data Storage Solution at the 2026 Tech Innovation CUBEd Awards by SiliconANGLE Media [1] - The company's B2 Overdrive service redefines cloud object storage by eliminating the traditional trade-off between cost and performance [1] - Backblaze claims to offer the best price-to-performance value in the industry, providing up to 1Tbps of sustained throughput [1]