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Backblaze projects B2 cloud storage growth to 60 percent in Q4

Backblaze projects B2 cloud storage growth to 60 percent in Q4
Backblaze Q3 revenue jumps 26 percent

Backblaze reported Q3 revenue of 46.7 million dollars, marking a 26 percent increase from the prior period. The company also posted an adjusted EBITDA margin of 33 percent, up from 23 percent a year ago.

Backblaze highlighted significant growth in its B2 cloud storage business, with expansion accelerating from 28 percent a year ago to 47 percent currently. The company expects B2 growth to approach 60 percent in the fourth quarter, citing strong demand from AI developers for scalable, cost-effective data capacity solutions.

Earlier this year, Backblaze reported that Lukka migrated nearly 3PB of blockchain data to Backblaze B2 for AWS and on-premises compute. The company separately disclosed a 9.33 percent failure rate for its 10TB Seagate drives with 22 failures out of 965 units last quarter. These developments have come as Backblaze continues to expand its cloud storage offerings.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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