# Backblaze, Inc. Class A Common Stock (BLZE) — Stock CV

Backblaze, Inc. is a $790M technology company. Revenue grew 13.9% over the last year, and it currently loses money.

> Backblaze Inc offers a cloud storage platform designed to help businesses and consumers store, use, and protect their data. The company delivers its services through the Backblaze Storage Cloud platform, a purpose-built, web-scale software architecture operating on commodity hardware.

## Identity

- **Ticker**: BLZE
- **Sector**: Technology
- **Industry**: Services-Prepackaged Software
- **Headquarters**: SAN FRANCISCO, CA
- **Employees**: 320
- **Website**: https://www.backblaze.com
- **Market cap**: $790M
- **Last price**: $12.76
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $156M
- **Net income**: -$20.4M
- **Free cash flow**: $24.0M
- **Revenue growth (YoY)**: 13.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 44 |
| Growth | 25 |
| Profitability | 0 |
| Health | 6 |
| Quality | 46 |
| Moat | 25 |

## Qualifications (beginner checklist) — 3 of 9 passed

- [x] Revenue growing — +13.9% YoY
- [ ] Profitable — -$20.4M TTM
- [x] Profit growing — +47.2% YoY
- [x] Generates cash — $24.0M TTM
- [ ] Debt under control — current ratio 1.00
- [ ] Established company — $790M market cap
- [ ] Not printing shares — +176.3% shares over ~5y
- [ ] Proven track record — 0/5 profitable years
- [ ] Financially stable — health score 6/100

## Experience (career milestones)

- **2022** — Backblaze released its cloud replication services
- **2020** — Backblaze released an Amazon S3-compatible API, allowing customers to use existing tools and…
- **2015** — Backblaze launched a new product, B2 Cloud Storage
- **2008** — The company released online backup services to support PCs running Apple's macOS and Microsoft's Windows
- **2007** — Backblaze was established in 2007 in San Mateo, California

## Strengths

- High gross margin (62.2%)
- Revenue growing 13.9% year over year
- Strong cash conversion — FCF is 15.3% of revenue

## Watch-outs

- Not profitable — 13.1% net margin
- Thin interest coverage (-9.8×)
- Loss-making in 5 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $67.5M | -$21.7M | -$4.06M |
| FY2022 | $85.2M | -$51.4M | -$21.1M |
| FY2023 | $102M | -$59.7M | -$12.9M |
| FY2024 | $128M | -$48.5M | $10.8M |
| FY2025 | $146M | -$25.6M | $18.9M |

---

Source: https://stockcv.com/BLZE — derived from company filings; may be delayed or incomplete. Information, not investment advice.