Backblaze, Inc.BLZE

Backblaze, Inc. Revenue Disclosure

10-KFiled Mar 10, 20262 min read
Revenues
Disaggregation of Total Revenue
The following table presents the Company’s revenue disaggregated by solution (in thousands):

For the Years Ended December 31,
202520242023
B2 Cloud Storage
$79,897 $63,335 $46,427 
Computer Backup
65,938 64,293 55,592 
Total revenue
$145,835 $127,628 $102,019 
The following table presents the Company’s total revenue disaggregated by timing of revenue recognition (in thousands):
For the Years Ended December 31,
202520242023
Consumption-based arrangements
$77,187 $61,459 $45,771 
Subscription-based arrangements
68,236 65,658 55,679 
Point in time arrangements
412 511 569 
Total revenue
$145,835 $127,628 $102,019 

Total revenue by geographic area, based on the location of the Company’s customers, was as follows (in thousands):
For the Years Ended December 31,
202520242023
United States
$104,567 $94,323 $73,262 
United Kingdom7,513 6,703 5,463 
Canada6,609 5,757 5,027 
Other
27,146 20,845 18,267 
Total revenue
$145,835 $127,628 $102,019 
Deferred Revenue

The following table presents information regarding the Company’s deferred revenue (in thousands):

December 31,
20252024
Deferred revenue
$35,897 $35,554 
For the Years Ended December 31,
202520242023
Total revenue recognized, included in each deferred revenue balance at the beginning of each respective period
$30,640 $26,076 $22,983 
Deferred revenue represents the invoiced portion of the Company’s contract liabilities for which the related performance obligations are still outstanding. The Company’s remaining performance obligations (“RPOs”) include deferred revenue as well as future committed revenue under existing customer contracts.

The following tables presents the Company’s RPOs (in millions):
Within 1 Year
Over 1 Year(1)
Total
As of December 31, 2025$35.5 $30.7 $66.2 
As of December 31, 2024$34.3 $7.0 $41.3 
________________
(1) The increase in remaining performance obligations as of December 31, 2025 was primarily driven by a new multi-year customer contract executed during the fourth quarter of 2025.

Deferred Contract Costs

The following tables presents the Company’s amortization of deferred contract costs (in thousands):
December 31,
20252024
Deferred contract costs for marketing affiliates$335 $542 
Deferred contract costs for sales commission
$2,639 $972 
December 31,
202520242023
Amortization of deferred contract costs related to marketing affiliates$852 $1,142 $978 
Amortization of deferred contract costs related to sales commissions
$480 $126 $— 

Historical Timeline

Fiscal YearFiled
2025Mar 10, 2026Showing above
2024Mar 11, 2025
2023Apr 1, 2024
2022Mar 31, 2023
2021Mar 28, 2022

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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