Backblaze Inc. (NASDAQ:BLZE) shares climbed 2.1% to $6.31 in after-hours trading on Thursday.
Check out the current price of BLZE stock here.
The move followed the company’s third-quarter earnings release.
Solid Financial Results
Backblaze’s B2 Cloud Storage division was the main driver of its $37.2 million in revenue for the quarter that ended on September 30, an increase of 14% year over year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $8.4 million, representing 23% of revenue, up from 12% a year earlier.
The gross margin of the California-based company increased by about 700 basis points to 62%.
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