Seeking Alpha8/25/2026Neutral
Backblaze: The Backup Drag Is Fading
Backblaze is accelerating top line growth, driven by its B2 Cloud Storage segment, now 62% of revenue after 34% YoY growth in Q2'26. AI model training and robotics foundational models are fueling sustained demand for BLZE's cost-effective storage, with broad-based customer growth and increased spending. The CoreWeave contract, worth $313M net over five years, is set to ramp significantly by mid-2027, providing substantial incremental revenue.
