To the full analysis
Backblaze stock: growth
BLZEBackblaze reported $145.84M in revenue for fiscal 2025, up 14.3% on the prior year, up 22.1% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
23.7%
per year from 2019 to 2025, per share 2.9%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
2.7%
per year from 2019 to 2025, per share −14.6%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2019 | |
|---|---|---|
| Revenue | 22.1% | 23.7% |
| Revenue per share | 7.9% | 2.9% |
| Earnings | no data | no data |
| Earnings per share | no data | no data |
| Free cash flow | 7.5% | 2.7% |
| Free cash flow per share | −5.0% | −14.6% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2019 | $40.75M | −$996K | $9.63M |
| 2020 | $53.78M | −$6.62M | $7.84M |
| 2021 | $67.48M | −$21.7M | −$7.67M |
| 2022 | $85.16M | −$51.4M | −$29.76M |
| 2023 | $102.02M | −$59.71M | −$27.58M |
| 2024 | $127.63M | −$48.53M | $10.79M |
| 2025 | $145.84M | −$25.61M | $11.29M |
Revenue by segment
How Backblaze, Inc. makes its money and how that has shifted. Names are as the company reports them.
- Consumption-Based Arragments53%
- Subscription-Based Arrangements47%
- Other< 1%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|
| Consumption-Based Arragments | $22.63M | $33.04M | $45.77M | $61.46M | $77.19M | 52.9% |
| Subscription-Based Arrangements | $44.12M | $51.43M | $55.68M | $65.66M | $68.24M | 46.8% |
| Other | $730K | $0 | $0 | $0 | $0 | 0% |
| Total revenue | $67.48M | $85.16M | $102.02M | $127.63M | $145.84M | 100% |
Revenue by region
Where Backblaze, Inc. generates its revenue.
- United States72%
- Outside the US19%
- Canada5%
- Other5%
“Other” combines smaller regions with revenue the company does not assign to a region.
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|
| United States | $48.35M | $60.95M | $73.26M | $94.32M | $104.57M | 71.7% |
| Outside the US | $19.13M | $15.23M | $18.27M | $20.85M | $27.15M | 18.6% |
| Canada | no data | $4.32M | $5.03M | $5.76M | $6.61M | 4.5% |
| Other | $0 | $4.65M | $5.46M | $6.7M | $7.51M | 5.2% |
| Total revenue | $67.48M | $85.16M | $102.02M | $127.63M | $145.84M | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 30 Nov 2022)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.