BLZE on Nasdaq

Backblaze

Logo: Backblaze, Public domain, via Wikimedia Commons4

Backup and cloud hosting company

Backblaze, Inc. is an American cloud storage and data backup company based in San Mateo, California.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 16, 2026.

Overview

Feb 1, 2007Founded1

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  • TickerBLZE on Nasdaq1
  • Industrycloud storage1
  • HeadquartersSan Mateo1
  • Websitewww.backblaze.com
  • Legal formcorporation1
  • Incorporated inDE5
  • Business address2261 Market Street Ste 81006, San Francisco, Ca 941145
  • Filer category, Emerging growth company5

Backblaze, Inc. is an American cloud storage and data backup company based in San Mateo, California. It was founded in 2007 by Gleb Budman and others. Its services are intended for both business and personal markets.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

60.9%Gross margin7
-16.2%Operating margin7
-17.6%Net margin7
14.3%Revenue growth, 20257
-30.8%Return on equity7
$18.9MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

B2 Cloud Storage brought in 27% of the revenue Backblaze broke down this way in fiscal 2025.

  1. B2 Cloud Storage$79.9M727%up 26% from 2024
  2. Consumption-Based Arragments$77.2M726%up 26% from 2024
  3. Subscription-Based Arrangements$68.2M723%up 4% from 2024
  4. Computer Backup$65.9M723%up 3% from 2024
  5. Point In Time Arrangements$412.0K70%down 19% from 2024
Products and services by year
Products and services202320242025
B2 Cloud Storage$46.4M$63.3M$79.9M
Consumption-Based Arragments$45.8M$61.5M$77.2M
Subscription-Based Arrangements$55.7M$65.7M$68.2M
Computer Backup$55.6M$64.3M$65.9M
Point In Time Arrangements$569.0K$511.0K$412.0K

Regions

United States brought in 72% of the revenue Backblaze broke down this way in fiscal 2025.

  1. United States$104.6M772%up 11% from 2024
  2. Rest of the world$27.1M719%up 30% from 2024
  3. United Kingdoms$7.5M75%up 12% from 2024
  4. CA [member]$6.6M75%up 15% from 2024
Regions by year
Regions202320242025
United States$73.3M$94.3M$104.6M
Rest of the world$18.3M$20.8M$27.1M
United Kingdoms$5.5M$6.7M$7.5M
CA [member]$5.0M$5.8M$6.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue39¢$57.0M
  • Research and development32¢$46.1M
  • Other costs29¢$42.6M
  • Income tax0¢$84.0K

Out of $145.8M in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending20¢$4.7M
  • Share buybacks8¢$2.0M
  • Kept or used elsewhere72¢$16.9M

Out of $23.5M of cash from operations.7

Financial statements

Revenue89107$145.8M in 2025+171% since 2020
0$50.0M$100.0M$150.0M2020: $53.8M$53.8M20202021: $67.5M$67.5M2021+25%2022: $85.2M$85.2M2022+26%2023: $102.0M$102.0M2023+20%2024: $127.6M$127.6M2024+25%2025: $145.8M$145.8M2025+14%
Gross profit89107$88.8M in 2025+217% since 2020
0$25.0M$50.0M$75.0M$100.0M2020: $28.0M$28.0M20202021: $34.3M$34.3M2021+23%2022: $43.9M$43.9M2022+28%2023: $49.9M$49.9M2023+14%2024: $69.3M$69.3M2024+39%2025: $88.8M$88.8M2025+28%
Operating income89107-$23.6M in 2025+533% since 2020
-$60.0M-$40.0M-$20.0M02020: -$3.7M-$3.7M20202021: -$18.8M-$18.8M2021+404%2022: -$48.1M-$48.1M2022+156%2023: -$57.9M-$57.9M2023+20%2024: -$46.3M-$46.3M2024−20%2025: -$23.6M-$23.6M2025−49%
Net income89107-$25.6M in 2025+287% since 2020
-$60.0M-$40.0M-$20.0M02020: -$6.6M-$6.6M20202021: -$21.7M-$21.7M2021+228%2022: -$51.4M-$51.4M2022+137%2023: -$59.7M-$59.7M2023+16%2024: -$48.5M-$48.5M2024−19%2025: -$25.6M-$25.6M2025−47%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Revenue$145.8M$127.6M$102.0M
Cost of revenue$57.0M$58.3M$52.2M
Gross profit$88.8M$69.3M$49.9M
Research and development$46.1M$42.1M$39.5M
Sales and marketing$37.4M$44.4M$41.3M
General and administrative$28.9M$29.1M$27.0M
Total operating expenses$112.4M$115.6M$107.8M
Loss from operations-$23.6M-$46.3M-$57.9M
Investment income$2.0M$1.4M$2.0M
Interest expense-$3.9M-$3.7M-$3.8M
Loss before provision for income taxes-$25.5M-$48.5M-$59.7M
Income tax provision$84.0K$6.0K$0
Net loss and comprehensive loss-$25.6M-$48.5M-$59.7M
Net loss per share, basic (USD per share)-$0.46-$1.11-$1.66
Net loss per share, diluted (USD per share)-$0.46-$1.11-$1.66
Weighted-average shares of Class A common stock outstanding basic (in shares)56.2M shares43.5M shares36.0M shares
Weighted average Class A common shares outstanding, diluted (in shares)56.2M shares43.5M shares36.0M shares

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The story

Founded by Gleb Budman on Feb 1, 2007.1

Backblaze was established in 2007 in San Mateo, California. In 2008, the company released online backup services to support PCs running Apple's macOS and Microsoft's Windows.

In October 2021, Backblaze filed to go public on the Nasdaq under the symbol BLZE. In November, the company launched its public IPO.

Backblaze and Catalogic, a data protection vendor, announced their partnership in March 2022.

Since 2013, Backblaze has reported quarterly reliability statistics for its data center hard drives, showing annual failure rates for each model. Backblaze’s public hard-drive dataset has also been used in academic research; a 2026 study in IEEE Transactions on Cloud Computing used the dataset to estimate differences in hard-drive reliability across manufacturers.

On November 28, 2025, Backblaze announced a strategic integration with Shareio, a new platform enabling creators to monetize and protect their digital content.

Backblaze has six data centers; four in the United States, one in Canada and one in Europe.

As of April 2025, Backblaze has been reporting losses every quarter ever since going public in November 2021.

From Wikipedia’s article on Backblaze, shared under CC BY-SA 4.0.6

Leadership

Who has led Backblaze, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Gleb Budman2007–now
2010201520202025

Products and brands

Backblaze's first product was its computer backup, offering users to back up their computer data continuously and automatically with a monthly subscription service.

In September 2015, Backblaze launched a new product, B2 Cloud Storage. Being an infrastructure as a service (IaaS), it is targeted at software integration for different kinds of businesses.

In May 2020, Backblaze released an Amazon S3-compatible API, allowing customers to use existing tools and applications with B2 Cloud Storage without rewriting them. In May 2022, Backblaze released its cloud replication services, which allow customers to back up and store data in a location that is geographically separate from the data's primary location.

From Wikipedia’s article on Backblaze, shared under CC BY-SA 4.0.6

Timeline

  1. Feb 1, 2007Founded Founded1
  2. 2007New chief executive Gleb Budman becomes CEO1

Recent filings

  1. Aug 24, 20268-K
  2. Aug 24, 20264
  3. Aug 24, 20264
  4. Aug 19, 20268-K
  5. Aug 17, 2026424B3
  6. Aug 14, 2026EFFECT
  7. Aug 3, 20268-K
  8. Aug 3, 202610-Q
  9. Aug 3, 2026S-3
  10. Jul 27, 2026SCHEDULE 13G/A
  11. Jul 2, 20268-K
  12. Jun 23, 20268-K
  13. Jun 1, 20264
  14. Jun 1, 20264
  15. Jun 1, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2