Backblaze, Inc. (BLZE)
NASDAQInformation TechnologySoftware - InfrastructureSnapshot 2026-09-04
$13.46+1.13%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologySoftware - InfrastructureSnapshot 2026-09-04
QuarterlyIQ Insights · BLZE
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue growing overall revenue and raise full-year 2026 revenue guidance based on strong quarterly performance and AI-related demand.
Stated as a priority in 3 of last 3 quarters. Revenue grew from $37.7 million in 2025-Q4 to $42.7 million in 2026-Q2, an 18% increase year-over-year in Q2. Management raised full-year 2026 revenue guidance twice, most recently to $172.0 million to $174.0 million, up from $161.5 million to $163.5 million. The trajectory is delivering consistent revenue growth and upward guidance revisions.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated weak grew net income 47% of the time over the next year (vs 59% for the rest of the cohort, n=6360).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“For full-year 2026, we have raised our outlook: Revenue between $172.0 million and $174.0 million, raised from $161.5 million to $163.5 million.”
“For full-year 2026, we have raised our outlook: Revenue between $161.5 million to $163.5 million, raised from $156.5 million to $158.5 million.”
“For full-year 2025 we expect: Revenue between $145.0 million to $147.0 million, which was raised from $144.0 million to $146.0 million previously.”
Focus on expanding adjusted EBITDA margin through operational efficiencies and cost management.
Stated as a priority in 3 of last 3 quarters. Adjusted EBITDA margin improved from 18% in 2025-Q2 to 30% in 2026-Q2, demonstrating operational leverage. Management raised full-year 2026 adjusted EBITDA margin guidance twice, most recently to 27%-29%. The trajectory shows delivering improved profitability.
“Adjusted EBITDA margin range of 27% to 29%, raised from 23% to 25%.”
“Adjusted EBITDA margin range of 23% to 25%, raised from 19% to 21%.”
“Adjusted EBITDA margin range of 18%-20%, raised from 17%-19%.”
Drive cash flow from operations to positive territory and improve adjusted free cash flow.
Stated as a priority in 3 of last 3 quarters. Cash flow from operations increased from $8.5 million in first half 2025 to $13.8 million in first half 2026. Adjusted free cash flow improved from negative $6.0 million to positive $1.4 million in the same periods. The trajectory shows delivering progress toward positive cash flow.
“Cash flow from operations during the six months ended June 30, 2026 was $13.8 million, compared to $8.5 million for the same period in 2025.”
“Cash flow from operations was $3.4 million, compared to $4.9 million in Q1 2025.”
“Cash flow from operations was not reported for Q4 2025 but prior quarters showed positive cash flow.”
Grow AI-related revenue and customer count by targeting AI workloads and signing strategic AI deals.
Stated as a priority in 2 of last 3 quarters. AI customer count grew 76% year over year in Q1 2026, with new AI customers contributing $1.5 million in ARR. In Q2 2026, Backblaze signed a $335 million strategic agreement with CoreWeave for AI storage. The trajectory shows delivering growth in AI-related revenue and partnerships.
“Signed a $335 million strategic agreement with CoreWeave, validating Backblaze as a strategic storage tier provider for AI workloads.”
“AI customer count grew 76% year over year, with new AI customers contributing about $1.5 million in annual contract value.”
Leverage the multi-year $335 million agreement with CoreWeave to strengthen AI infrastructure market position.
Newly stated in 2026-Q2. Backblaze signed a 5+ year, $335 million strategic agreement with CoreWeave, including $22 million in warrants, to provide AI storage capacity. This partnership is a key strategic initiative with strong financial commitment, representing a significant milestone.
“Signed a 5+ year, $335 million strategic agreement with CoreWeave, including warrants valued at approximately $22 million.”
Over the trailing year it converted -0.39x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
15 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Information Technology names rated volatile grew net income 60% of the time over the next year (vs 58% for the rest of the cohort, n=2769).
Not investment advice. As of 2026-09-04.