PomegraBackblaze Stock Jumps 8% After Q3 Earnings Beat
Why is Backblaze stock up today?
Backblaze (BLZE) stock rose about 8% to near $8 on Tuesday after the cloud-storage firm beat Q3 earnings and raised its 2026 outlook, though early gains of 34–37% faded.
Key numbers
| B2 cloud storage revenue | $30.5M+47% YoY |
|---|---|
| Total revenue | $46.7M+26% YoY |
| 2026 revenue outlook | $177.8M–$178.2Mfrom $172M–$174M |
| Adjusted EBITDA (core profit) margin | 33%from 23% a year ago |
| Premarket move vs $7.40 close | $9.86–$10.16+33% to +37% |
| Midday move vs $7.40 close | about $8+8% to +12%, reports differ |
What happened
Backblaze (BLZE) stock rose about 8% to near $8 on Tuesday after the cloud-storage firm beat Q3 earnings and raised its 2026 outlook, though early gains of 34–37% faded. Backblaze rents out online storage space, and its B2 cloud storage business, which serves AI companies, grew 47% from a year earlier to $30.5 million. Total sales rose 26% to $46.7 million, and the company raised its 2026 sales forecast to about $178 million. The stock had fallen nearly 47% in the prior month, so part of the jump was a rebound.
Why it matters
Backblaze shows that AI is lifting demand for plain data storage, not only for computer chips. AI companies need somewhere to keep huge piles of data, and Backblaze says its fastest growth is coming from AI builders and large AI cloud providers (called neoclouds). The company now expects its AI-linked storage sales to grow about 60% in the fourth quarter. The fade from the early spike shows investors are still cautious after the recent sell-off.
Who this affects
- MarketmixedLow impact
- Small-cap AI investors: early surge faded, showing caution.
- CompanybullishMedium impact
- Shareholders gain from higher forecast and better profit margin.
- CompetitorsneutralLow impact
- Rivals such as DigitalOcean also report AI-driven growth.
- IndustrybullishMedium impact
- AI data growth lifts demand for cloud storage providers.
Backblaze vs DigitalOcean, Dropbox
How we got here
Backblaze reports Q3: sales $46.7M, B2 up 47%, 2026 outlook raised after the close
Shares jump 34–37% premarket, then fade; midday gains reported between 8% and 12%
What to watch
- Q4 results: revenue guided to $49.8M–$50.2M, with B2 growth expected near 60%Q4 2026
- CoreWeave ramp-up, with larger revenue contributions expected during the first three quarters of 20272027
Educational content only. Not investment advice.
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