
Backblaze, Inc.
NASDAQ•BLZE
CEO: Mr. Gleb Budman
Sector: Technology
Industry: Software - Infrastructure
Listing Date: 2021-11-11
Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States, Canada, and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides a subscription-based Software-as-a-Service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. The company was incorporated in 2007 and is headquartered in San Mateo, California.
Contact Information
Market Cap
$527.43M
P/E (TTM)
-11.9
79.7
Dividend Yield
--
52W High
$10.86
52W Low
$3.94
52W Range
1.2
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 1.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024
Financial Dashboard
Q2 2025 Data
Revenue
$36.30M+16.02%
4-Quarter Trend
EPS
-$0.13-48.00%
4-Quarter Trend
FCF
$700.00K-151.85%
4-Quarter Trend
2025 Q2 Earnings Highlights
Key Highlights
Adjusted EBITDA Margin Doubles Adjusted EBITDA 6.6M USD, up 141% from 2.7M USD; Adjusted EBITDA Margin 18%, doubling 9% margin.
Gross Margin Significantly Improves Gross margin 63%, up 8 percentage points from 55% in Q2 2024, driven by infrastructure useful life extension.
B2 Cloud Storage Revenue Jumps Total revenue 36.3M USD, up 16%; B2 Cloud Storage revenue 19.8M USD, accelerating 29% growth.
Annual Recurring Revenue Rises Total Annual Recurring Revenue 145.9M USD, increasing 16% from 126.3M USD, indicating strong platform adoption.
Risk Factors
Net Revenue Retention Rate Drops Total Net Revenue Retention Rate 109%, down from 114%; B2 NRR 112%, down from 126%, due to price increase impact.
Intense Cloud Storage Competition Markets highly competitive with low barriers to entry; larger competitors like AWS, Google, Azure pose significant risk.
Supply Chain Disruption Risk Heavy reliance on limited third-party vendors for hard drives and data center infrastructure exposes business to disruptions.
Continued Net Losses Expected Net loss (7.1M USD) in Q2 2025; accumulated deficit 212.4M USD; profitability not expected in foreseeable future.
Outlook
Accelerating Up-Market Transformation Continued investment in R&D and infrastructure to support up-market expansion, AI workloads, and new product launches.
$10M Share Repurchase Approved Board approved $10.0M USD share repurchase through August 2026 to reduce stock-based compensation dilution impact.
Capital Expenditures Expected Increase Expect capital expenditures to increase in coming quarters to support new B2 Overdrive offering and up-market strategy.
Expanding International Operations Plan to invest in international operations, expanding into key geographies, evidenced by new Canada data center region.
Peer Comparison
Revenue (TTM)
$3.78B
DAVA$1.00B
$349.60M
Gross Margin (Latest Quarter)
95.3%
79.9%
DOMO74.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CINT | $613.41M | 29.9 | 11.0% | 28.3% |
| CCSI | $564.00M | 7.1 | -130.6% | 1.7% |
| BLZE | $527.43M | -11.9 | -62.7% | 33.1% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+3.7%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Reports
All Years
Form 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 7, 2025|Revenue: $36.30M+16.0%|EPS: $-0.13-48.0%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 7, 2025|Revenue: $34.61M+15.5%|EPS: $-0.17-37.0%MissForm 10-K/A - FY 2024
Period End: Dec 31, 2024|Filed: May 7, 2025|Revenue: $127.63M+25.1%|EPS: $-1.11+33.1%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Mar 11, 2025|Refer to amended dataForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 7, 2024|Revenue: $32.59M+28.8%|EPS: $-0.29-34.1%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 8, 2024|Revenue: $31.29M+27.2%|EPS: $-0.25-39.0%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 8, 2024|Revenue: $29.97M+28.1%|EPS: $-0.27-50.0%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Apr 1, 2024|Revenue: $102.02M+19.8%|EPS: $-1.66-1.8%Miss