Backblaze, Inc. (BLZE) Revenue History
Annual and quarterly revenue from 2019 to present
BLZE Revenue Over Time (2019–2025)
BLZE Revenue Growth History
6 of 6 years with positive growth- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- +32.0%
- FY2021 revenue growth
- +25.5%
- FY2022 revenue growth
- +26.2%
- FY2023 revenue growth
- +19.8%
- FY2024 revenue growth
- +25.1%
- FY2025 revenue growth
- +14.3%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $38.7M | +11.7% |
| Q4 2025 | $37.8M | +11.8% |
| Q3 2025 | $37.2M | +14.0% |
| Q2 2025 | $36.3M | +16.0% |
| Q1 2025 | $34.6M | +15.5% |
| Q4 2024 | $33.8M | +17.6% |
| Q3 2024 | $32.6M | +28.8% |
| Q2 2024 | $31.3M | +27.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
BLZE's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
BLZE Revenue Analysis (2019–2025)
Current Revenue & Growth
As of June 21, 2026, Backblaze, Inc. (BLZE) generated trailing twelve-month (TTM) revenue of $149.9 million, reflecting strong growth of +11.7% year-over-year. The most recent quarter (Q1 2026) recorded $38.7 million in revenue, up 2.4% sequentially.
Historical Growth Trajectory
BLZE's 5-year compound annual growth rate (CAGR) stands at +22.1%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +19.6% is below the 5-year average, signalling a growth deceleration in recent years. Backblaze, Inc.'s highest annual revenue of $145.8 million was recorded in 2025, an all-time high.
Revenue by Segment
BLZE's revenue is primarily driven by Consumption-Based Arragments (53%), and Subscription-Based Arrangements (47%). With over half of revenue concentrated in Consumption-Based Arragments, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Technology sector peers — including BOX (+9.5% YoY), DOMO (+0.3% YoY), and DCBO (+12.4% YoY) — BLZE has outperformed the peer group in revenue growth. Compare BLZE vs BOX →
BLZE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BLZECurrent | $150M | +11.7% | +22.1% | -13.8% | |
 BOX | $1.2B | +9.5% | +8.8% | 7.1% | |
 DOMO | $319M | +0.3% | +8.7% | -12.3% | |
 DCBO | $247M | +12.4% | +31.5% | 10.1% | |
 NCNO | $595M | +9.6% | +23.8% | 0.6% | |
 DBX | $2.5B | -0.6% | +5.7% | 27.4% |
BLZE Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $145.8M | +14.3% | $88.8M | 60.9% | $-20,154,000 | -13.8% |
| 2024 | $127.6M | +25.1% | $69.3M | 54.3% | $-46,289,000 | -36.3% |
| 2023 | $102.0M | +19.8% | $49.9M | 48.9% | $-57,905,000 | -56.8% |
| 2022 | $85.2M | +26.2% | $43.9M | 51.5% | $-48,113,000 | -56.5% |
| 2021 | $67.5M | +25.5% | $34.3M | 50.9% | $-18,794,000 | -27.9% |
| 2020 | $53.8M | +32.0% | $28.0M | 52.0% | $-3,732,000 | -6.9% |
| 2019 | $40.7M | - | $20.6M | 50.6% | $949K | 2.3% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
7+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
BLZE — Frequently Asked Questions
Quick answers to the most common questions about buying BLZE stock.
Is BLZE's revenue growth accelerating or slowing?
BLZE revenue growth is holding steady at +11.7% year-over-year. TTM revenue is $150M. The current growth rate closely tracks the 5-year CAGR of +22.1%, signalling consistent execution.
What is BLZE's revenue history from 2019 to 2026?
Backblaze, Inc. (BLZE) revenue history spans 2019 to 2026. TTM revenue as of 2026 is $150M, growing at +11.7% YoY. The 5-year CAGR is +22.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is BLZE's long-term revenue growth rate (CAGR)?
Backblaze, Inc.'s 5-year revenue CAGR of +22.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +11.7% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for BLZE.
Why does BLZE's quarterly revenue fluctuate?
BLZE quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Backblaze, Inc.'s revenue data from 2019 to 2026 shows full historical quarterly detail on this page.
How is BLZE's revenue distributed by segment?
BLZE reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does BLZE's revenue compare to industry peers?
Backblaze, Inc. (BLZE) with TTM revenue of $150M and +11.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.