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Backblaze, Inc.

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
201 Baldwin Ave., San Mateo, CA, 94401, United States
650-352-3738
www.backblaze.com
Market Cap
$298.20M
P/E (TTM)
-8.5
62.2
Dividend Yield
--
52W High
$10.86
52W Low
$3.94
52W Range
18%
Rank73Top 97.7%
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: 2020-2025

Financial Dashboard

Q3 2025 Data

Revenue

$37.16M+14.03%
4-Quarter Trend

EPS

-$0.07-75.86%
4-Quarter Trend

FCF

$2.55M+147.62%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Revenue Growth Total revenue reached $37.16M USD for Q3 2025, marking a 14% increase from $32.59M USD in Q3 2024.
Gross Margin Expansion Gross margin improved to 62% in Q3 2025, up from 55% in Q3 2024, driven by equipment useful life extension.
Adjusted EBITDA Surge Adjusted EBITDA for Q3 2025 was $8.39M USD, more than doubling from $3.75M USD reported in the prior year period.
Balance Sheet Strengthening Total assets grew to $191.53M USD as of September 30, 2025, reflecting growth from $168.56M USD at year-end 2024.

Risk Factors

Cumulative Losses Persist Company has history of cumulative losses, reporting $20.2M USD net loss for 9M 2025; profitability not expected soon.
Intense Market Competition Highly competitive cloud markets with larger rivals possessing greater resources; failure to compete effectively harms results.
Supply Chain Vendor Reliance Reliance on limited third-party vendors for data center equipment exposes business to potential supply chain disruptions.
Cybersecurity Vulnerability Risk Systems are subject to cybersecurity attacks; breaches or data loss could severely harm reputation and incur significant costs.

Outlook

Up-Market Expansion Focus Strategy focuses on enterprise and AI-driven customers, launching B2 Overdrive premium solution to broaden addressable market.
2025 Restructuring Plan Initiated 2025 Restructuring Plan expecting $4.4M to $6.0M charges in Q4 2025 to improve sales and marketing efficiency.
Platform Investment Continues Committed to R&D investment for platform features, enhancing cloud service offerings, and meeting evolving AI workload demands.
Share Repurchase Program Board approved $10.0M share repurchase program through August 2026, funded by option exercises to offset dilution.

Peer Comparison

Revenue (TTM)

Bakkt Holdings, Inc.BKKT
$3.85B
+102.0%
Endava plcDAVA
$988.59M
+1.1%
Consensus Cloud Solutions, Inc.CCSI
$349.61M
-0.4%

Gross Margin (Latest Quarter)

Consensus Cloud Solutions, Inc.CCSI
79.9%
-0.5pp
Domo, Inc.DOMO
74.2%
-0.8pp
Weave Communications, Inc.WEAV
72.3%
+0.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CINT$593.03M29.211.0%28.3%
WEAV$589.09M-17.4-44.9%25.7%
CCSI$404.81M5.1-130.6%1.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.2%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 24, 2026
|
EPS:$0.01
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $37.16M+14.0%
    |
    EPS: $-0.07-75.9%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $36.30M+16.0%
    |
    EPS: $-0.13-48.0%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 7, 2025|
    Revenue: $34.61M+15.5%
    |
    EPS: $-0.17-37.0%
    Miss
  • Form 10-K/A - FY 2024

    Period End: Dec 31, 2024|Filed: May 7, 2025|
    Revenue: $127.63M+25.1%
    |
    EPS: $-1.11+33.1%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 11, 2025|Refer to amended data
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $32.59M+28.8%
    |
    EPS: $-0.29-34.1%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $31.29M+27.2%
    |
    EPS: $-0.25-39.0%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $29.97M+28.1%
    |
    EPS: $-0.27-50.0%
    Miss