Backblaze Inc logo

Backblaze Inc(BLZE)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
3-STAR RATING
PASS
LAST CLOSE
$14.3
09/22/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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  • BUY Advisory
  • SELL Advisory (Profit)
  • SELL Advisory (Loss)
  • Profit
  • Loss
  • PASS (Skip)
Upturn Stock price based on last close iconStock price based on last close

Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for BLZE

09/22/2026: BLZE (3-star) is currently NOT-A-BUY. Pass it for now.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit 349.74%
Avg. Invested days 29
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/22/2026

Upturn Scorecard

Upturn Star Rating

BLZE receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

BLZE has moderate overall fundamentals (3 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, strong earnings growth (+47.2%) and solid cash generation (FCF margin 7.7%) are partially offset by soft profitability (net margin -17.6%), modest insider ownership of 4.54%.

Financial Health Rating

BLZE's financial health is supported by moderate cash strength, including free-cash-flow generation (7.7% of revenue). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

Earnings growth is BLZE's strongest growth driver at +47.2% FY2025 versus FY2024 (strong, 5 stars). By comparison, revenue growth (+14.3%, solid) is also solid, while free-cash-flow growth (+4.6%, moderate) holds the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 58.3% and approximately 95.9% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 4.54% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 5.95%
Vanguard Capital Management, LLC 3.79%
Acadian Asset Management LLC 2.65%
Awm Investment Company Inc 2.26%
Geode Capital Management, LLC 2.17%

Unit Economics (Per $1K Revenue)

BLZE generates approximately $609 of gross profit, $-162 of operating income, and $77 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: -0.33% (Tax Credit)

Quantitative Style Profile

BLZE has a liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 841.84M USD
Price to earnings Ratio -
1Y Target Price 22.83
Price to earnings Ratio -
1Y Target Price 22.83
Volume (30-day avg) 2.4M shares
Beta 1.56
52 Weeks Range 3.26 - 23.99
Updated Date 09/22/2026
52 Weeks Range 3.26 - 23.99
Updated Date 09/22/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.35

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 77.52
Enterprise Value 874.39M
Price to Sales(TTM) 5.39
Enterprise Value 874.39M
Price to Sales(TTM) 5.39
Enterprise Value to Revenue 5.42
Enterprise Value to EBITDA 81.8
Shares Outstanding 61.90M
Shares Floating 59.38M
Shares Outstanding 61.90M
Shares Floating 59.38M
Percent Insiders 4.54
Percent Institutions 58.28

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Backblaze Inc

Exchange NASDAQ
Headquarters San Francisco, CA, United States
IPO Launch date 2021-11-11
Co-Founder, CEO & Chairman Mr. Gleb Budman
Sector Technology
Industry Software - Infrastructure
Full time employees 320
Full time employees 320

Backblaze, Inc., a cloud storage platform, provides businesses and consumers cloud services to store, use, and protect data in the United States, the United Kingdom, Canada, and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. In addition, the company offers cloud storage solutions for a range of cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; and Internet of Things. Further, it provides computer backup that automatically backs up data from laptops and desktops for businesses and individuals, which offers a subscription-based software-as-a-service and serves use cases, including MAC and PC backup; ransomware protection; theft and loss recovery; data archiving; organization and managed service provider level management; and remote access. The company serves individuals, developers, MSPS, small and medium-sized businesses, and large enterprises across industries, including media, AI innovators, creative agencies, academic institutions, government agencies, research institutes, and gaming companies. Backblaze, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.