Overview
- Backblaze beat its first‑quarter guidance with $38.7 million in revenue, which rose 12% from a year ago.
- B2 Cloud Storage led the growth with $22.4 million in revenue, up 24%, helped by customers storing and accessing more data.
- Profitability improved as gross margin reached 61% and adjusted EBITDA rose to $10 million for a 26% margin.
- The company raised full‑year targets to $161.5 million to $163.5 million in revenue and a 23% to 25% adjusted EBITDA margin.
- Backblaze removed API transaction fees for B2 on May 1 and expects near break‑even full‑year adjusted free cash flow with more than $100 million of leasing capacity and no planned equity raise.