NASDAQ : BLZE
Backblaze, Inc. — Financial statements
Technology · Software - Infrastructure · United States
Last price 7.59 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 469.82M
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Financial statements
Backblaze, Inc. (BLZE) reported revenue of 156.30M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 156.30M | 145.84M | 127.63M | 102.02M | 85.16M | 67.48M |
| Cost of Revenue | 58.94M | 56.93M | 57.83M | 52.16M | 41.29M | 33.14M |
| Gross Profit | 97.36M | 88.91M | 69.80M | 49.86M | 43.86M | 34.34M |
| Selling, General & Admin | 64.98M | 63.95M | 70.41M | 66.93M | 58.87M | 32.60M |
| Research & Development | 43.92M | 45.57M | 40.82M | 37.22M | 33.11M | 20.54M |
| Operating Expenses | 108.90M | 109.51M | 111.23M | 104.15M | 91.98M | 53.13M |
| Operating Income | -11.54M | -20.61M | -41.43M | -54.29M | -48.11M | -18.79M |
| Interest Expense | -4.61M | -3.87M | -3.66M | -3.79M | -4.29M | -3.68M |
| Interest & Investment Income | 1.71M | 1.96M | 1.42M | 1.98M | 965.00K | |
| EBT Excluding Unusual Items | -13.76M | -22.51M | -43.66M | -56.10M | -51.44M | -22.47M |
| Merger & Restructuring Charges | -6.05M | -2.47M | -4.86M | -3.62M | ||
| Asset Writedown | -258.00K | -258.00K | ||||
| Legal Settlements | -288.00K | -288.00K | ||||
| Other Unusual Items | 863.00K | |||||
| Pretax Income | -20.36M | -25.53M | -48.52M | -59.71M | -51.44M | -21.61M |
| Income Tax Expense | 68.00K | 84.00K | 6.00K | -39.00K | 96.00K | |
| Net Income | -20.43M | -25.61M | -48.53M | -59.71M | -51.40M | -21.70M |
| Net Income to Common | -20.43M | -25.61M | -48.53M | -59.71M | -51.40M | -21.70M |
| Shares Outstanding (Basic) | 58.81M | 56.21M | 43.54M | 36.01M | 31.66M | 20.35M |
| Shares Outstanding (Diluted) | 58.81M | 56.21M | 43.54M | 36.01M | 31.66M | 20.35M |
| EPS (Basic) | -0.35 | -0.46 | -1.11 | -1.66 | -1.62 | -1.07 |
| EPS (Diluted) | -0.35 | -0.46 | -1.11 | -1.66 | -1.62 | -1.07 |
| Free Cash Flow | 23.98M | 18.85M | 10.79M | -12.86M | -21.13M | -4.04M |
| Free Cash Flow Per Share | 0.41 | 0.34 | 0.25 | -0.36 | -0.67 | -0.20 |
| Gross Margin | 62.29% | 60.97% | 54.69% | 48.87% | 51.51% | 50.89% |
| Operating Margin | -7.38% | -14.13% | -32.46% | -53.22% | -56.50% | -27.85% |
| Profit Margin | -13.07% | -17.56% | -38.02% | -58.53% | -60.36% | -32.16% |
| Free Cash Flow Margin | 15.34% | 12.93% | 8.46% | -12.61% | -24.81% | -5.99% |
| EBITDA | 3.07M | -5.42M | -20.10M | -33.00M | -30.16M | -4.17M |
| EBITDA Margin | 1.96% | -3.72% | -15.75% | -32.35% | -35.42% | -6.18% |
| D&A For EBITDA | 14.61M | 15.18M | 21.33M | 21.29M | 17.95M | 14.62M |
| EBIT | -11.54M | -20.61M | -41.43M | -54.29M | -48.11M | -18.79M |
| EBIT Margin | -7.38% | -14.13% | -32.46% | -53.21% | -56.50% | -27.85% |
| Advertising Expenses | 2.50M | 3.00M | 2.60M | 5.70M | 3.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 32.43M | 29.18M | 45.78M | 12.50M | 6.69M | 104.84M |
| Short-Term Investments | 17.45M | 22.20M | 9.14M | 16.80M | 58.73M | |
| Cash & Short-Term Investments | 49.88M | 51.38M | 54.91M | 29.30M | 65.42M | 104.84M |
| Accounts Receivable | 10.17M | 7.23M | 4.70M | 3.17M | 2.49M | 1.53M |
| Other Receivables | 615.00K | 1.35M | 1.28M | 644.00K | 289.00K | |
| Receivables | 10.17M | 7.84M | 6.04M | 4.45M | 3.14M | 1.82M |
| Prepaid Expenses | 4.42M | 4.20M | 3.46M | 3.31M | 4.14M | 3.51M |
| Other Current Assets | 4.24M | 2.27M | 1.33M | 1.45M | 1.69M | 910.00K |
| Total Current Assets | 68.70M | 65.69M | 65.75M | 38.51M | 74.40M | 111.08M |
| Property, Plant & Equipment | 102.84M | 80.02M | 58.82M | 55.58M | 56.26M | 43.07M |
| Other Intangible Assets | 42.24M | 40.83M | 41.80M | 32.52M | 16.70M | 7.64M |
| Other Long-Term Assets | 10.06M | 5.29M | 2.19M | 5.07M | 5.10M | 1.79M |
| Total Assets | 223.84M | 191.83M | 168.56M | 131.69M | 152.46M | 163.58M |
| Accounts Payable | 16.09M | 1.59M | 1.46M | 1.97M | 3.28M | 2.08M |
| Accrued Expenses | 8.48M | 6.22M | 6.96M | 6.83M | 6.53M | |
| Short-Term Debt | 893.00K | 1.54M | ||||
| Current Portion of Leases | 21.41M | 20.13M | 20.35M | 20.37M | 20.66M | 13.64M |
| Current Unearned Revenue | 30.43M | 30.50M | 30.41M | 25.98M | 22.91M | 21.72M |
| Other Current Liabilities | 870.00K | 930.00K | 1.37M | 912.00K | 1.04M | 1.09M |
| Total Current Liabilities | 68.80M | 61.62M | 59.80M | 57.09M | 56.27M | 45.06M |
| Long-Term Debt | 4.13M | 4.31M | ||||
| Long-Term Leases | 61.03M | 41.46M | 25.99M | 21.46M | 20.52M | 19.60M |
| Long-Term Unearned Revenue | 5.48M | 5.53M | 5.15M | 4.07M | 2.61M | 3.13M |
| Other Long-Term Liabilities | 298.00K | |||||
| Total Liabilities | 135.30M | 108.61M | 90.94M | 86.75M | 83.71M | 68.09M |
| Common Stock | 6.00K | 6.00K | 5.00K | 4.00K | 4.00K | 3.00K |
| Additional Paid-In Capital | 324.72M | 306.80M | 273.60M | 192.39M | 156.49M | 131.83M |
| Retained Earnings | -232.83M | -221.60M | -195.99M | -147.45M | -87.74M | -36.34M |
| Treasury Stock | -3.36M | -1.98M | ||||
| Total Common Equity | 88.54M | 83.22M | 77.62M | 44.94M | 68.75M | 95.49M |
| Shareholders' Equity | 88.54M | 83.22M | 77.62M | 44.94M | 68.75M | 95.49M |
| Total Liabilities & Equity | 223.84M | 191.83M | 168.56M | 131.69M | 152.46M | 163.58M |
| Total Debt | 82.44M | 61.58M | 46.34M | 46.85M | 47.03M | 33.25M |
| Net Cash (Debt) | -32.55M | -10.20M | 8.58M | -17.55M | 18.39M | 71.59M |
| Net Cash Per Share | -0.55 | -0.18 | 0.20 | -0.49 | 0.58 | 3.52 |
| Filing Date Shares Outstanding | 61.90M | 60.10M | 54.30M | 41.20M | 34.30M | 30.60M |
| Total Common Shares Outstanding | 61.80M | 58.71M | 53.38M | 39.15M | 33.39M | 30.38M |
| Working Capital | -91.00K | 4.07M | 5.95M | -18.57M | 18.12M | 66.02M |
| Book Value Per Share | 1.43 | 1.42 | 1.45 | 1.15 | 2.06 | 3.14 |
| Tangible Book Value | 46.30M | 42.40M | 35.82M | 12.42M | 52.04M | 87.85M |
| Tangible Book Value Per Share | 0.75 | 0.72 | 0.67 | 0.32 | 1.56 | 2.89 |
| Machinery | 183.71M | 164.81M | 138.70M | 122.48M | 104.95M | 85.19M |
| Construction In Progress | 442.00K | 89.00K | 311.00K | 1.37M | 3.64M | |
| Leasehold Improvements | 383.00K | 181.00K | 244.00K | 1.11M | 1.27M | 956.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -20.43M | -25.61M | -48.53M | -59.71M | -51.40M | -21.70M |
| Depreciation & Amortization | 14.61M | 15.18M | 21.33M | 21.29M | 17.95M | 14.62M |
| Other Amortization | 11.20M | 10.41M | 7.00M | 3.63M | 2.20M | 1.70M |
| Loss (Gain) From Sale of Assets | -93.00K | -347.00K | -154.00K | -292.00K | 37.00K | -4.00K |
| Asset Writedown & Restructuring Costs | 1.40M | 1.16M | 898.00K | 232.00K | ||
| Loss (Gain) From Sale of Investments | -863.00K | |||||
| Stock-Based Compensation | 27.83M | 26.44M | 28.63M | 25.18M | 17.05M | 5.63M |
| Other Operating Activities | 6.29M | 5.63M | 3.14M | 2.77M | 2.46M | -733.00K |
| Change in Accounts Receivable | -2.03M | -1.65M | -1.03M | 56.00K | -547.00K | -100.00K |
| Change in Accounts Payable | 3.98M | 402.00K | -547.00K | -295.00K | 1.63M | 502.00K |
| Change in Unearned Revenue | -154.00K | 473.00K | 5.50M | 4.53M | 670.00K | 5.46M |
| Change in Other Net Operating Assets | -13.76M | -8.54M | -3.73M | -4.72M | -2.96M | -1.86M |
| Operating Cash Flow | 28.84M | 23.54M | 12.51M | -7.35M | -13.78M | 3.52M |
| Capital Expenditures | -4.86M | -4.69M | -1.71M | -5.51M | -7.35M | -7.56M |
| Sale of Property, Plant & Equipment | 160.00K | 167.00K | 455.00K | 369.00K | ||
| Sale (Purchase) of Intangibles | -8.54M | -7.56M | -12.47M | -14.72M | -8.63M | -3.63M |
| Investment in Securities | 769.00K | -13.25M | 7.60M | 41.52M | -57.87M | |
| Investing Cash Flow | -12.47M | -25.34M | -6.13M | 21.66M | -73.85M | -11.19M |
| Short-Term Debt Issued | 893.00K | |||||
| Long-Term Debt Issued | 2.45M | 554.00K | 8.72M | 4.30M | 17.81M | |
| Total Debt Issued | 2.45M | 2.45M | 554.00K | 9.62M | 4.30M | 17.81M |
| Short-Term Debt Repaid | -893.00K | -1.54M | ||||
| Long-Term Debt Repaid | -20.62M | -24.18M | -23.96M | -16.49M | -15.65M | |
| Total Debt Repaid | -19.84M | -20.62M | -25.08M | -25.50M | -16.49M | -15.65M |
| Net Debt Issued (Repaid) | -17.39M | -18.16M | -24.52M | -15.89M | -12.19M | 2.15M |
| Issuance of Common Stock | 8.52M | 7.89M | 47.68M | 7.05M | 6.76M | 107.43M |
| Repurchase of Common Stock | -7.01M | -3.90M | -130.00K | |||
| Other Financing Activities | -255.00K | -622.00K | -383.00K | -658.00K | -2.98M | |
| Financing Cash Flow | -16.13M | -14.80M | 22.77M | -8.84M | -6.21M | 106.61M |
| Net Cash Flow | 241.00K | -16.59M | 29.15M | 5.46M | -93.85M | 98.94M |
| Free Cash Flow | 23.98M | 18.85M | 10.79M | -12.86M | -21.13M | -4.04M |
| Free Cash Flow Margin | 15.34% | 12.93% | 8.46% | -12.61% | -24.81% | -5.99% |
| Free Cash Flow Per Share | 0.41 | 0.34 | 0.25 | -0.36 | -0.67 | -0.20 |
| Levered Free Cash Flow | 33.52M | 23.04M | 16.60M | -4.92M | -11.62M | 624.62K |
| Unlevered Free Cash Flow | 36.39M | 25.46M | 18.89M | -2.55M | -8.94M | 2.92M |
| Cash Interest Paid | 4.42M | 3.74M | 3.58M | 3.73M | 3.78M | 3.53M |
| Cash Income Tax Paid | 31.00K | 14.00K | ||||
| Change in Working Capital | -11.96M | -9.31M | 200.00K | -433.00K | -1.21M | 4.01M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 444.44M | 268.78M | 304.91M | 285.38M | 200.66M | 512.02M |
| Enterprise Value | 477.00M | 282.64M | 333.41M | 305.57M | 167.46M | 549.50M |
| Last Close Price | 7.59 | 4.66 | 6.02 | 7.59 | 6.15 | 16.89 |
| Forward PE | 42.24 | 191.77 | ||||
| PS Ratio | 2.82 | 1.84 | 2.39 | 2.80 | 2.36 | 7.59 |
| PB Ratio | 5.30 | 3.23 | 3.93 | 6.35 | 2.92 | 5.36 |
| P/TBV Ratio | 9.52 | 6.34 | 8.51 | 22.98 | 3.86 | 5.83 |
| P/FCF Ratio | 18.38 | 14.26 | 28.25 | |||
| P/OCF Ratio | 15.28 | 11.42 | 24.38 | 145.46 | ||
| EV/Sales Ratio | 3.03 | 1.94 | 2.61 | 3.00 | 1.97 | 8.14 |
| EV/FCF Ratio | 19.73 | 14.99 | 30.89 | |||
| Debt / Equity Ratio | 0.93 | 0.74 | 0.60 | 1.04 | 0.68 | 0.35 |
| Debt / EBITDA Ratio | 4.30 | 6.20 | ||||
| Debt / FCF Ratio | 3.44 | 3.27 | 4.29 | |||
| Net Debt / Equity Ratio | 0.37 | 0.12 | -0.11 | 0.39 | -0.27 | -0.75 |
| Net Debt / EBITDA Ratio | 10.61 | -1.88 | 0.43 | -0.53 | 0.61 | 17.16 |
| Net Debt / FCF Ratio | 1.36 | 0.54 | -0.80 | -1.36 | 0.87 | 17.71 |
| Asset Turnover | 0.76 | 0.81 | 0.85 | 0.72 | 0.54 | 0.62 |
| Quick Ratio | 0.87 | 0.96 | 1.02 | 0.59 | 1.22 | 2.37 |
| Current Ratio | 1.00 | 1.07 | 1.10 | 0.68 | 1.32 | 2.46 |
| Return on Equity (ROE) | -24.29% | -31.85% | -79.20% | -105.05% | -62.59% | -47.48% |
| Return on Assets (ROA) | -3.52% | -7.15% | -17.25% | -23.88% | -19.03% | -10.77% |
| Return on Capital Employed (ROCE) | -7.40% | -15.80% | -38.10% | -72.80% | -50.00% | -15.90% |
| Earnings Yield | -4.84% | -9.53% | -15.92% | -20.92% | -25.61% | -4.24% |
| FCF Yield | 5.44% | 7.01% | 3.54% | -4.51% | -10.53% | -0.79% |
| Buyback Yield / Dilution | -16.77% | -29.09% | -20.91% | -13.74% | -55.62% | -9.33% |