Short answer
Backblaze, Inc. (BLZE) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $37M (up 14.0% year over year) with net income of −$4M.
Q3 2025 key financials · XBRL
- Revenue
- $37M
- +14.0% YoY · +2.4% QoQ
- Net income
- −$4M
- +70.4% YoY · +46.8% QoQ
- Operating margin
- -8.9%
- Gross margin
- 62.1%
- EPS (diluted)
- −$0.06
- +79.3% YoY · +53.8% QoQ
Source: XBRL data from the Backblaze, Inc. (BLZE) Q3 2025 10-Q on SEC EDGAR. USD.
Backblaze, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $37.162M, up 14% YoY from $32.589M
- Gross margin 62% vs 55% YoY; operating margin negative 9% vs negative 37%
- B2 Cloud Storage revenue $20.699M, up 28%; Computer Backup $16.463M, up less than 1%
- B2 Cloud Storage ARR $81.8M vs $64.9M; Computer Backup ARR $65.4M vs $65.6M
- 2025 Restructuring Plan charges $4.4M–$6.0M, primarily in Q4; capital expenditures expected to increase in early 2026
Risk Factors
- Newly expanded B2 Overdrive risk triggered by April 2025 launch, requiring substantial infrastructure investment before revenue generation
- Operational disruption risk highlighted by October 2025 data-center cooling failure, resolved without significant customer-data access impact
- AI compliance exposure from product features, including potential output inaccuracies, bias, data-privacy, intellectual-property, and regulatory requirements
- Competitive pressure from Cloudflare, CoreWeave, DigitalOcean, and Vultr storage offerings, potentially driving pricing pressure and customer churn
- Persistent financial risk with $20.2 million nine-month net loss and $216.2 million accumulated deficit as of September 30, 2025
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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