Backblaze, Inc.

Annual Trend FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenue $53.8m $67.5m $85.2m $102.0m $127.6m $145.8m
Cost of revenue $25.8m $33.1m $41.3m $52.2m $58.3m $57.0m
Gross profit $28.0m $34.3m $43.9m $49.9m $69.3m $88.8m
Research and development $13.1m $20.5m $33.1m $39.5m $42.1m $46.1m
Total operating expenses $31.7m $53.1m $92.0m $107.8m $115.6m $112.4m
Sales and marketing $11.9m $19.7m $35.4m $41.3m $44.4m $37.4m
General and administrative $6.7m $12.9m $23.5m $27.0m $29.1m $28.9m
Loss from operations ($3.7m) ($18.8m) ($48.1m) ($57.9m) ($46.3m) ($23.6m)
Investment income $0 $965k $2.0m $1.4m $2.0m
Loss before provision for income taxes ($6.6m) ($21.6m) ($51.4m) ($59.7m) ($48.5m) ($25.5m)
Income tax provision $5k $96k ($39k) $0 $6k $84k
Net loss and comprehensive loss ($6.6m) ($21.7m) ($51.4m) ($59.7m) ($48.5m) ($25.6m)
Net loss per share, basic (USD per share) ($0) ($1) ($2) ($2) ($1) ($0)
Net loss per share, diluted (USD per share) ($0) ($1) ($2) ($2) ($1) ($0)
Weighted-average shares of Class A common stock outstanding – basic (in shares) 18.6m 20.3m 31.7m 36.0m 43.5m 56.2m
Weighted average Class A common shares outstanding, diluted (in shares) 18.6m 20.3m 31.7m 36.0m 43.5m 56.2m
Interest expense ($2.9m) ($3.7m) ($4.3m) ($3.8m) ($3.7m) ($3.9m)