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Backblaze (BLZE) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Backblaze (BLZE) Q3 2026 earnings results →
Q3 2026 Revenue up 26% year over year to $46.7M · 5¢ of every $1 of revenue lost · operating margin -3.0%
Backblaze made $46.7M in Q3 2026 (+26% Y/Y): Consumption-based arrangements $29.9M, Subscription-based arrangements $16.7M. Operating margin -3.0%, net loss $2.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $46.7M in Q3 2026, up 26% year over year and up 9% from the previous quarter. Consumption-based arrangements was the largest line at 64% of revenue. Consumption-based arrangements added $9.9M year over year (up 50%), 104% of the total change. Subscription-based arrangements declined 2%.
Gross margin was 64.0%, up 1.9 points from Q3 2025. Operating costs exceeded revenue by $1.4M, an operating margin of -3.0%. Operating expenses grew 18% against revenue growth of 26%. The fastest-growing cost line was General & admin (+44%). The quarter ended with a net loss of $2.4M, narrower than the previous quarter's $5.1M loss.
Operating cash flow was $9.0M (up 57% year over year). Non-cash charges added back $7.7M of depreciation and amortization and $7.7M of share-based compensation. Working capital and other items used $4.0M. Capital expenditures of $2.9M left free cash flow of $6.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $46.7M | +26% | -3.0% | −$2.4M | $9.0M |
| Q2 2026 | 10-Q | Aug 3, 2026 | $42.7M | +18% | -9.8% | −$5.1M | $10.4M |
| Q1 2026 | 10-Q | May 4, 2026 | $38.7M | +12% | -13.8% | −$6.1M | $3.4M |
| Q4 2025 | 10-K | Mar 10, 2026 | $37.8M | +12% | -13.5% | −$5.4M | $9.3M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $37.2M | +14% | -8.9% | −$3.8M | $5.7M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $36.3M | +16% | -18.5% | −$7.1M | $3.5M |
| Q1 2025 | 10-Q | May 7, 2025 | $34.6M | +16% | -25.3% | −$9.3M | $4.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Backblaze
We are a high-performance cloud storage platform for data-intensive use cases in the artificial intelligence (“AI”) era and across a broad range of modern cloud workloads, designed to help customers address complex storage needs by reducing the barriers of lock-in, complexity, and cost. Our mission is to make customers succeed by solving their toughest data storage challenges. We aim to achieve this mission through our purpose-built, web-scale software infrastructure, which is essential to the global data center and compute infrastructure buildout.
In its own words, from its 10-K, filed Mar 10, 2026.
Backblaze against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +19%. Operating margin: -3.0% against the peers' median 15.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BLZE Backblaze | Q3 2026 | $46.7M | +26% | -3.0% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Backblaze 10-Q on SEC EDGAR · CIK 1462056 · Services-Prepackaged Software
Guidance and outlook
13F: who owns BLZE and who is buying
More on BLZE
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results