Filing Flows › Backblaze (BLZE) › Q1 2026
Backblaze (BLZE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Backblaze (BLZE) reported revenue of $38.7M for the first quarter 2026 (Q1 2026), +12% from a year earlier and +2% from the quarter before. Operating margin was -13.8%, net loss $6.1M (15.9% of revenue).
Backblaze, Q1 2026: revenue $38.7M (+12% year over year), operating margin -13.8%, net loss $6.1M, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $38.7M | +2% | +12% |
| Operating profit | −$5.4M | — | — |
| Net earnings | −$6.1M | — | — |
| Operating cash flow | $3.4M | -64% | -32% |
| Free cash flow | $2.7M | -70% | -39% |
What changed
Revenue was $38.7M in Q1 2026, up 12% year over year and up 2% from the previous quarter. Consumption-based arrangements was the largest line at 56% of revenue. Consumption-based arrangements added $4.3M year over year (up 25%), 107% of the total change. Subscription-based arrangements declined 2%.
Gross margin was 60.9%, up 5.2 points from Q1 2025. Operating costs exceeded revenue by $5.4M, an operating margin of -13.8%. Operating expenses grew 3% against revenue growth of 12%. The fastest-growing cost line was Sales & marketing (+11%). The quarter ended with a net loss of $6.1M, wider than the previous quarter's $5.4M loss.
Operating cash flow was $3.4M (down 32% year over year). Non-cash charges added back $6.7M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $651K left free cash flow of $2.7M.
Questions
What was Backblaze's revenue in the first quarter 2026?
Backblaze (BLZE) reported revenue of $38.7M for the first quarter 2026 (Q1 2026), +12% from a year earlier and +2% from the quarter before.
Was Backblaze profitable in the first quarter 2026?
Operating loss was $5.4M (-13.8% of revenue) and net loss $6.1M.
Source: Backblaze 10-Q on SEC EDGAR.