Backblaze, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $145.8M | $127.6M | $102.0M | $85.2M | $67.5M |
| Cost of revenue | $57.0M | $58.3M | $52.2M | $41.3M | $33.1M |
| Gross profit | $88.8M | $69.3M | $49.9M | $43.9M | $34.3M |
| Research and development | $46.1M | $42.1M | $39.5M | $33.1M | $20.5M |
| Operating expenses | $112.4M | $115.6M | $107.8M | $92.0M | $53.1M |
| Operating income | -$23.6M | -$46.3M | -$57.9M | -$48.1M | -$18.8M |
| Interest expense | $3.9M | $3.7M | $3.8M | $4.3M | $3.7M |
| Pretax income | -$25.5M | -$48.5M | -$59.7M | -$51.4M | -$21.6M |
| Income tax expense | $84,000 | $6,000 | $0 | -$39,000 | $96,000 |
| Net income | -$25.6M | -$48.5M | -$59.7M | -$51.4M | -$21.7M |
| Balance Sheet | |||||
| Cash and equivalents | $29.2M | $45.8M | $12.5M | $6.7M | $104.8M |
| Current assets | $65.7M | $65.7M | $38.5M | $74.4M | $111.1M |
| Total assets | $191.8M | $168.6M | $131.7M | $152.5M | $163.6M |
| Current liabilities | $61.6M | $59.8M | $57.1M | $56.3M | $45.1M |
| Total liabilities | $108.6M | $90.9M | $86.7M | $83.7M | $68.1M |
| Stockholders' equity | $83.2M | $77.6M | $44.9M | $68.7M | $95.5M |
| Cash Flow Statement | |||||
| Cash from operations | $23.5M | $12.5M | -$7.3M | -$13.8M | $3.5M |
| Depreciation and amortization | $25.6M | $28.3M | $24.9M | $20.2M | $16.3M |
| Stock-based compensation | $26.4M | $28.6M | $25.2M | $17.0M | $5.6M |
| Capital expenditure | $4.7M | $1.7M | $5.5M | $7.3M | $7.6M |
| Free cash flow | $18.9M | $10.8M | -$12.9M | -$21.1M | -$4.0M |
| Share repurchases | $2.0M | $0 | $0 | — | — |
| Impairments | $1.2M | $898,000 | $232,000 | — | — |
Shares outstanding 60.0M · Free float 88.5%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.