Shares of Backblaze Inc (NASDAQ:BLZE) are surging Tuesday morning after the cloud storage company delivered second-quarter 2026 financial results that topped market expectations and issued strong forward-looking guidance.
Here’s what investors need to know.
- Backblaze stock is approaching key resistance levels. What’s driving BLZE to record levels?
Quarterly Highlights and Upbeat Outlook
For the second quarter, Backblaze reported total revenue of $42.7 million, representing an 18% increase year-over-year. Growth was spearheaded by its B2 Cloud Storage segment, which expanded 34% year-over-year to reach $26.6 million. Non-GAAP net income per share came in at 8 cents, up significantly from 1 cent in the prior-year quarter.
Looking ahead, the company expects third-quarter revenue between $44.4 million and $44.8 million, easily outpacing consensus estimates of $41.195 million. For the full year 2026, Backblaze raised its revenue outlook to a range of $172 million to $174 million, compared to analyst expectations of $162.326 million.
Strong AI Momentum and Executive Outlook
Management emphasized the company’s pivotal role in supporting expanding AI workloads. Co-founder and CEO Gleb Budman noted that the period was driven by high-end performance in revenue and Adjusted EBITDA.
The Backblaze CEO highlighted a landmark $335 million strategic agreement with CoreWeave as validation of Backblaze’s capacity storage layer, stating that AI workloads require scalable exabyte capacity with performance at attractive economics where the company is built to win.
BLZE Shares Surge Tuesday Morning
BLZE Price Action: Backblaze shares were up 37.78% at $21.48 at the time of publication on Tuesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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