NOTE vs BLZE

For growth investors, Backblaze, Inc.

(BLZE) is the stronger pick with 14. 3% revenue growth year-over-year, versus -20. 7% for FiscalNote Holdings, Inc. (NOTE). Analysts rate Backblaze, Inc. (BLZE) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

Over the past 5 years, Backblaze, Inc.

(BLZE) delivered a total return of -62. 4%, compared to -99. 8% for FiscalNote Holdings, Inc. (NOTE). Over 10 years, the gap is even starker: BLZE returned -62. 4% versus NOTE's -99. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Backblaze, Inc.

(BLZE) is the lower-risk stock at 2. 10β versus FiscalNote Holdings, Inc. 's 2. 66β — meaning NOTE is approximately 27% more volatile than BLZE relative to the S&P 500. On balance sheet safety, FiscalNote Holdings, Inc. (NOTE) carries a lower debt/equity ratio of 0% versus 98% for Backblaze, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Backblaze, Inc.

(BLZE) is pulling ahead at 14. 3% versus -20. 7% for FiscalNote Holdings, Inc. (NOTE). On earnings-per-share growth, the picture is similar: Backblaze, Inc. grew EPS 58. 6% year-over-year, compared to -660. 2% for FiscalNote Holdings, Inc.. Over a 3-year CAGR, BLZE leads at 19. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Backblaze, Inc.

(BLZE) is the more profitable company, earning -17. 6% net margin versus -68. 4% for FiscalNote Holdings, Inc. — meaning it keeps -17. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BLZE leads at -13. 8% versus -38. 9% for NOTE. At the gross margin level — before operating expenses — NOTE leads at 69. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

For long-horizon retirement investors, Backblaze, Inc.

(BLZE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. FiscalNote Holdings, Inc. (NOTE) carries a higher beta of 2. 66 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BLZE: -62. 4%, NOTE: -99. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.