Filing Flows › Backblaze (BLZE) › Q3 2026 › vs Q3 2025
Backblaze (BLZE) Q3 2026 vs Q3 2025 (year over year)
Backblaze's revenue rose $9.5M (+26%) from $37.2M in Q3 2025 to $46.7M in Q3 2026. The biggest changes: Consumption-based arrangements +$9.9M (+50%); Subscription-based arrangements −$399K (-2%).
Backblaze, Q3 2026: revenue $46.7M (+26% year over year), operating margin -3.0%, net loss $2.4M, operating cash flow $9.0M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 13.1% | 7.0% | +6.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Consumption-based arrangements | $29.9M | $20.0M | $9.9M | +50% |
| Subscription-based arrangements | $16.7M | $17.1M | −$399K | -2% |
| Revenue | $46.7M | $37.2M | $9.5M | +26% |
| Net loss | $2.4M | $3.8M | −$1.4M | -37% |
| Costs & expenses | $49.0M | $40.9M | $8.1M | +20% |
| Operating costs | $48.1M | $40.7M | $7.4M | +18% |
| Interest & other, net | $894K | $268K | $626K | +234% |
| Income tax | $60K | $0 | $60K | — |
| Cost of revenue | $16.8M | $14.1M | $2.7M | +19% |
| Research & development | $11.3M | $11.2M | $111K | +1% |
| Sales & marketing | $10.7M | $9.0M | $1.7M | +19% |
| General & admin | $9.2M | $6.3M | $2.8M | +44% |
| Operating cash sources | $15.3M | $11.5M | $3.8M | +33% |
| Depreciation & amortization | $7.7M | $6.0M | $1.6M | +27% |
| Share-based compensation | $7.7M | $5.4M | $2.2M | +41% |
| Net loss absorbed | $2.4M | $3.8M | −$1.4M | -37% |
| Working capital & other | $4.0M | $2.0M | $2.0M | +102% |
| Operating cash flow | $9.0M | $5.7M | $3.3M | +57% |
| Free cash flow (OCF − capex) | $6.1M | $2.6M | $3.5M | +134% |
| Capital expenditures | $2.9M | $3.1M | −$239K | -8% |
Questions
How much did Backblaze's revenue grow year over year in Q3 2026?
Backblaze's revenue rose $9.5M (+26%) from $37.2M in Q3 2025 to $46.7M in Q3 2026.
What drove Backblaze's revenue change in Q3 2026?
Consumption-based arrangements +$9.9M (+50%); Subscription-based arrangements −$399K (-2%).