Backblaze, Inc.

Listed Company

BLZECIK 0001462056NasdaqEmerging GrowthServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$145.84M

Net Income

$-25.61M

Total Assets

$191.83M

Equity

$83.22M

Shares Out

60.10M

Op. Cash Flow

$23.54M

Business

Backblaze, Inc. is a specialized storage cloud platform that provides cloud services to store, use, and protect data for both businesses and consumers. Its primary offerings include Backblaze B2 Cloud Storage (IaaS) for scalable object storage and Backblaze Computer Backup (SaaS) for continuous endpoint backup and recovery, supporting use cases such as backups, multi-cloud, AI/ML workflows, ransomware protection, and media management. The company operates through self-serve and sales-driven motions and partner programs, including direct sales, channel partners, MSPs, technology partners, and a white‑label Powered By Backblaze program. Its services are distributed globally via web and API access, third‑party integrations, resellers, managed service providers, and data centers across regions including the United States, Canada, and Europe.

Summary from filing dated 2025-03-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	146	128	102	85	67
Cost of revenue	57	58	52	41	33
Gross profit	89	69	50	44	34
Research and development	46	42	40	33	21
Sales and marketing	37	44	41	35	20
General and administrative	29	29	27	23	13
Total operating expenses	112	116	108	92	53
Loss from operations	−24	−46	−58	−48	−19
Investment income	2	1	2	965,000	0
Interest expense	−4	−4	−4	—	—
Loss before provision for income taxes	−26	−49	−60	−51	−22
Income tax provision	84,000	6,000	0	−39,000	96,000
Net loss and comprehensive loss	−26	−49	−60	−51	−22
Net loss per share, basic (USD per share)	−0.46	−1.11	−1.66	−1.62	−1.07
Net loss per share, diluted (USD per share)	−0.46	−1.11	−1.66	−1.62	−1.07
Weighted-average shares of Class A common stock outstanding basic (in shares)	56	44	36	32	20
Weighted average Class A common shares outstanding, diluted (in shares)	56	44	36	32	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-07-31	FY 2022 2022-12-31
Cash and cash equivalents	29	46	13	—	7
Marketable securities	22	9	—	—	—
Accounts receivable, net	3	2	800,000	—	856,000
Prepaid expenses	4	3	—	—	—
Other current assets	7	6	—	—	—
Total current assets	66	66	39	—	74
Property and equipment, net	57	43	46	—	49
Operating lease right-of-use assets, net	23	16	10	5	7
Capitalized internal-use software, net	41	42	33	—	17
Other assets	5	2	944,000	—	793,000
Total assets	192	169	132	—	152
Accounts payable	2	1	2	—	3
Accrued expenses and other current liabilities	9	8	9	—	9
Finance lease liabilities and lease financing obligations, current	15	16	18	—	—
Operating lease liabilities, current	5	4	2	—	2
Deferred revenue, current	30	30	26	—	23
Total current liabilities	62	60	57	—	56
Finance lease liabilities and lease financing obligations, non-current	21	13	13	—	—
Operating lease liabilities, non-current	20	13	8	—	5
Deferred revenue and other liabilities, non-current	6	5	—	—	—
Total liabilities	109	91	87	—	84
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, 0.0001 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; zero shares issued and outstanding as of December 31, 2025 and 2024.	0	0	—	—	—
Treasury stock, at cost; 256,549 and zero shares as of December 31, 2025 and 2024, respectively	−2	0	—	—	—
Additional paid-in capital	307	274	192	—	156
Accumulated deficit	−222	−196	−147	—	−88
Total stockholders equity	83	78	45	—	69
Total liabilities and stockholders equity	192	169	132	—	152

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Noncash lease expense on operating leases	5	3	2	2	0
Depreciation and amortization	26	28	25	20	16
Impairment loss on long-lived assets	1	898,000	232,000	—	—
Stock-based compensation	26	29	25	17	6
Gain on disposal of property and equipment	−347,000	−154,000	−292,000	—	—
Other, net	686,000	409,000	417,000	—	—
Accounts receivable	−2	−1	56,000	−547,000	−100,000
Prepaid expenses and other current assets	−2	−741,000	−445,000	−379,000	−3
Other assets	−3	−1	−389,000	1	−541,000
Accounts payable	402,000	−547,000	−295,000	2	502,000
Accrued expenses and other current liabilities	130,000	948,000	−1	−970,000	2
Deferred revenue and other liabilities, non-current	473,000	6	5	670,000	5
Operating lease liabilities	−4	−3	−2	−3	0
Net cash provided by (used in) operating activities	24	13	−7	−14	4
Purchases of marketable securities	−40	−38	−26	−146	0
Maturities of marketable securities	26	46	68	88	0
Proceeds from disposal of property and equipment	167,000	455,000	369,000	0	17,000
Purchases of property and equipment	−5	−2	−6	−7	−8
Capitalized internal-use software costs	−8	−12	−15	−9	−4
Net cash (used in) provided by investing activities	−25	−6	22	−74	−11
Principal payments on finance lease and lease financing obligations	−18	−20	−20	−16	−12
Proceeds from issuance of common stock upon public offering, net of underwriting discounts and commission and other offering costs	0	37	0	0	107
Payments of offering costs	−20,000	−383,000	0	−658,000	−3
Proceeds from debt facility	2	554,000	4	4	4
Repayment of debt facility	−2	−5	−4	0	−4
Payment of debt issuance costs	−602,000	0	0	—	—
Proceeds from insurance premium financing	0	0	893,000	0	—
Principal payments on insurance premium financing	0	−893,000	−2	0	—
Proceeds from lease financing obligations	0	0	4	0	4
Purchase of treasury stock	−2	0	0	—	—
Proceeds from exercises of stock options	5	7	5	4	478,000
Taxes paid for net share settlement of equity awards	−2	0	0	−130,000	0
Proceeds from ESPP	3	3	2	3	0
Net cash (used in) provided by financing activities	−15	23	−9	−6	107
Net (decrease) increase in cash and cash equivalents and restricted cash	−17	29	5	−94	99
Cash paid for interest	4	4	4	4	4

Filings

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