By Connor Hart

Shares of Backblaze tumbled after the company narrowed its full-year revenue outlook toward the lower end of its previous range and issued a downbeat fourth-quarter guide.

The stock sank 32% to $6.36 Thursday, on pace for its largest percent decrease on record. Shares have lost about one-fifth of their value in the past year, though they are up 5.6% year-to-date.

The cloud-storage company before the bell narrowed its full-year revenue outlook to between $145.4 million and $146 million, from between $145 million and $147 million. Analysts surveyed by FactSet had been expecting $146.1 million.

For the current quarter, the company projected revenue between $37.3 million and $37.9 million, missing the $38.2 million that Wall Street modeled.

The outlooks came as Backblaze posted a third-quarter loss of $3.78 million, or seven cents a share, compared with a loss of $12.8 million, or 29 cents a share, a year earlier.

Stripping out one-time items, earnings were three cents a share. Analysts were expecting an adjusted loss of one cent a share.

Revenue climbed 14% to $37.2 million, topping the $36.9 million that Wall Street modeled.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 06, 2025 12:49 ET (17:49 GMT)

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