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Backblaze

BLZE · Updated 11/13/2026

Revenue

$145.8M

Fiscal 2025

Net income

(25.6M)

Fiscal 2025

Free cash flow

$18.9M

Fiscal 2025

Net cash / (debt)

—

Fiscal 2025

Five-year financials

Fiscal year20252024202320222021
Revenue$145.8M$127.6M$102.0M$85.2M$67.5M
Net income(25.6M)(48.5M)(59.7M)(51.4M)(21.7M)
Diluted EPS—————
Operating cash flow$23.5M$12.5M(7.3M)(13.8M)$3.5M
Free cash flow$18.9M$10.8M(12.9M)(21.1M)(4.1M)
Cash$29.2M$45.8M$12.5M$6.7M$104.8M
Total debt—————

Financial trends

Historical · FY2021–FY2025

Source: Reported annual filings (10-K / 20-F) and provider data. Fiscal years as reported; margins are calculated from the reported figures shown.

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Where the cash went

Cumulative, fiscal 2021–2025, straight from the reported cash-flow statements.

Reinvested in capex

145.6%

of operating cash flow

Returned to owners

—

of free cash flow (buybacks + dividends)

Diluted share count

—

change 2021–2025

Capital expenditure $26.8MBar width = share of $26.8M (spending exceeded operating cash flow)
Operating cash flow$18.4M
Capital expenditure($26.8M)
Free cash flow($8.4M)
Share buybacks—
Dividends paid—
Acquisitions (net)—
Net debt issued / (repaid)—
Stock-based compensation (non-cash)—

"—" means a year didn't report that line, so no total is shown rather than an estimate.

Backblaze return on capital (fiscal 2025)

ROIC

—

Return on capital

—

Return on equity

-31.8%

Return on assets

-14.2%

Gross margin

60.9%

Operating margin

-16.2%

Net debt / EBITDA

-14.83x

Backblaze insider buying and selling

Recent open-market trades reported on Form 4. Context only — not a reason to buy or sell.

DateInsiderTypeSharesPrice
2026-08-21Budman GlebSale12,855$15.82
2026-08-21Suidan MarcSale2,110$15.82

SEC filings

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