One-Sentence Summary of Key Findings: Backblaze (BLZE) is an independent cloud storage provider founded in 2007 that has seen explosive stock gains in 2026 driven by AI-related demand and a landmark $335 million multi-year deal with CoreWeave, though it continues to report net losses amid rapid revenue growth and analyst optimism.[Yahoo Finance] [IR Site]
Historical price data and charts on Yahoo Finance | Performance overview
Interpretation: The stock's dramatic outperformance in 2026 appears tied to AI infrastructure tailwinds and specific deal momentum, though high beta (1.57) indicates elevated volatility relative to the market.
| Metric | Value | Notes |
|---|---|---|
| TTM Revenue | ~$149.89M – $158.2M ARR context | Growing; Q1 2026: $38.67M |
| TTM Net Income | -$22.43M | Ongoing losses; Q1 2026: -$6.15M |
| TTM EPS | -$0.39 | Q1 2026 adjusted EPS beat: +$0.04 vs. estimates |
| Profit Margin | -14.97% | Improving trajectory per guidance |
| Revenue Growth | B2 Cloud Storage: 24%+ YoY in recent periods; NRR 110%+ | AI customers +76% YoY |
| Guidance (FY2026) | Revenue $161.5M – $163.5M (raised) | Post-Q1 update |
| Cash Position | ~$45.48M (mrq) | Debt/Equity ~73.67% |
| Employees | ~320 (full-time) | Fiscal year ends Dec 31 |
Limitation/Assumption: Financial figures are primarily from Q1 2026 earnings (May 2026) and TTM aggregates as of July/Aug 2026; Q2 2026 results announced Aug 3, 2026 but detailed numbers limited in public summaries. Forward-looking guidance subject to execution risks. Data sourced from company IR and aggregator sites; always verify latest 10-Q/earnings transcripts.
Backblaze Investor Relations (earnings, presentations) | Yahoo Finance Financials
| Source | Consensus | # Analysts | Avg. Price Target | Range |
|---|---|---|---|---|
| Public.com / Aggregators | Strong Buy | 7 | $14.50 – $15.17 | Low $14.00 / High $16.00 |
| MarketBeat | Moderate Buy | ~10 (8 Buy, 1 Hold, 1 Sell noted in some) | $13.21 | Varies |
| TipRanks / Marketscreener | Buy / Strong Buy | 7 | $13.64 – $15.17 | $8.50 – $16.00 |
Interpretation: Analysts view the CoreWeave partnership and AI storage demand as transformative ("game-changing"), shifting sentiment positively despite historical losses. Bull case centers on neocloud/AI growth; bear case on competition and path to profitability.
Uncertainties: Ratings and targets can shift rapidly with earnings or macro events; some sources show slight variance in "Strong Buy" vs. "Moderate Buy" classification. Price targets imply potential upside but are not guarantees.
Interpretation: Shift toward larger enterprise/AI deals (e.g., neoclouds) suggests improving customer quality and retention (gross retention ~91% for backup).
Limitation: Specific customer names beyond CoreWeave and program mentions are not extensively disclosed publicly; total customer count includes self-serve B2 users.
| Category | Key Competitors | Notes |
|---|---|---|
| Object/Cloud Storage (B2 focus) | AWS S3, Google Cloud Storage, Microsoft Azure, Wasabi Technologies | Hyperscalers dominant but Backblaze positions on cost, openness, no egress fees in some cases; Wasabi direct peer for independent storage. |
| Computer Backup/Personal | IDrive, Carbonite, CrashPlan (Acronis-related), Veeam | Backblaze emphasizes unlimited/simple pricing vs. tiered competitors. |
| Enterprise/Hybrid | NetApp, Nutanix, OpenDrives, VMware/others | Broader data protection and hybrid solutions. |
Interpretation: Backblaze differentiates via commodity hardware/open approach and focus on AI/neocloud workloads where hyperscalers may have lock-in or cost issues; however, scale and ecosystem of big cloud providers remain challenges.
Backblaze About/Corporate | Wikipedia History | Gartner Alternatives