Backblaze, Inc.BLZEEarnings & Financial Report
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.
BLZE Q1 FY2026 Key Financial Metrics
Revenue
$38.7M
Gross Profit
$23.5M
Operating Profit
$9.8M
Net Profit
$-6.1M
Gross Margin
60.9%
Operating Margin
25.3%
Net Margin
-15.9%
YoY Growth
11.7%
EPS
$-0.10
Backblaze, Inc. Q1 FY2026 Financial Summary
Backblaze, Inc. reported revenue of $38.7M (up 11.7% YoY) for Q1 FY2026, with a net profit of $-6.1M (up 34.1% YoY) (-15.9% margin). Cost of goods sold was $15.1M, operating expenses totaled $13.7M.
Key Financial Metrics
| Total Revenue | $38.7M |
|---|---|
| Net Profit | $-6.1M |
| Gross Margin | 60.9% |
| Operating Margin | 25.3% |
| Report Period | Q1 FY2026 |
Backblaze, Inc. Annual Revenue by Year
Backblaze, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $145.8M).
Backblaze, Inc. Quarterly Revenue & Net Profit History
Backblaze, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $38.7M | +11.7% | $-6.1M | -15.9% |
| Q4 FY2025 | $37.8M | +11.8% | $-5.4M | -14.3% |
| Q3 FY2025 | $37.2M | +14.0% | $-3.8M | -10.2% |
| Q2 FY2025 | $36.3M | +16.0% | $-7.1M | -19.6% |
| Q1 FY2025 | $34.6M | +15.5% | $-9.3M | -26.9% |
| Q4 FY2024 | $33.8M | +17.6% | $-14.4M | -42.6% |
| Q3 FY2024 | $32.6M | +28.8% | $-12.8M | -39.1% |
| Q2 FY2024 | $31.3M | +27.2% | $-10.3M | -33.1% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.3M | $32.6M | $33.8M | $34.6M | $36.3M | $37.2M | $37.8M | $38.7M |
| YoY Growth | 27.2% | 28.8% | 17.6% | 15.5% | 16.0% | 14.0% | 11.8% | 11.7% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $127.8M | $136.2M | $168.6M | $170.2M | $186.0M | $191.5M | $191.8M | $192.7M |
| Liabilities | $82.7M | $93.4M | $90.9M | $92.4M | $106.4M | $108.7M | $108.6M | $108.0M |
| Equity | $45.1M | $42.8M | $77.6M | $77.8M | $79.6M | $82.8M | $83.2M | $84.6M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $2.2M | $4.6M | $2.2M | $4.9M | $3.5M | $5.7M | $9.3M | $3.4M |