Backblaze, Inc. (BLZE)

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Backblaze, Inc.'s filings since 2017 show 1 warning event: an auditor change (8-K item 4.01, the latest 2025-04-11) (its current reports).

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Backblaze, Inc.'s 6 filed years say what it did: revenue went from $54 million in fiscal 2020 to $146 million in fiscal 2025, up 22.1% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 0 of 6 of those years (its annual reports).

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Over the 3 fiscal years to 2025-12-31, Backblaze, Inc.'s diluted share count grew about 21.1% a year, and dividends and buybacks returned about 7% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 2 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

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Return on equity: in the fiscal year ended 2025-12-31, Backblaze, Inc. lost about 31 cents for every dollar of shareholders' money, and gross profitability: its products earned about 46 cents per dollar of everything the company owns. Leverage: it owed about 57 cents per dollar of assets, and net share issuance: its share count grew 29.1% over the year (the filed statements).

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Backblaze, Inc.'s standing among 218 graded names in its industry family: revenue of $146 million in fiscal 2025 ranks in the bottom 32% by size; a net margin of -17.6% ranks in the bottom 33%; revenue growth of 19.6% a year over the last 3 filed years ranks in the top 29% (its annual reports).

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Backblaze, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Budman, Gleb (CEO and Chairperson, as filed), filing under that title since 2021-11-10, 5 years (top 47% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 4.2 years (bottom 29%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (top 30%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

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Backblaze, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $29 million against no long-term debt tagged leaves 15.2% of its assets as net cash, top 45% of its family; cash from operations less capital spending is 12.9% of revenue (bottom 47%); a gross margin of 60.9% (bottom 37%); research spending of 31.6% of revenue (top 21%) (its annual report).

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Backblaze, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 19.6% a year over the last three filed years against 22.1% over all 6, slowing (top 42% of its family); the newest year grew 14.3% (top 46%); research spending grew 11.7% a year (top 36%); capital spending grew -13.9% a year (bottom 35%) (its annual reports). Backblaze, Inc. reported 3 product lines in fiscal 2025: Consumption Based Arragments at $77 million (53%), Subscription Based Arrangements at $68 million (47%), Point in Time Arrangements at $412 thousand (0%); 2 of 3 grew against the year before (its annual report).

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Backblaze, Inc.'s newest year against its own record: revenue of $146 million in fiscal 2025 came in 6.7% below the $156 million its prior three years' pace pointed to (bottom 24% of its family); net income of $26 million against a prior three-year average of $53 million (top 45%); a net margin of -17.6% against -52.3% before (top 18%) (its annual reports).