BLZEBackblaze, Inc.
Services-Prepackaged Software
- Revenue
- $146M
- 14% YoY
- Operating margin
- -16.2%
- 55% YoY
- EBITDA
- $2M
- 111% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired18% of revenueOver 10% of revenue
- Payouts exceed cash flowClear8% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $67M | $85M | $102M | $128M | $146M | 14% |
| Operating income | −$19M | −$48M | −$58M | −$46M | −$24M | 49% |
| Net income | −$22M | −$51M | −$60M | −$49M | −$26M | 47% |
| Operating cash flow | $4M | −$14M | −$7M | $13M | $24M | 88% |
| Capex | $8M | $7M | $6M | $2M | $5M | 174% |
| Stock-based comp | $6M | $17M | $25M | $29M | $26M | 7.7% |
| Buybacks | — | — | $0 | $0 | $2M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.