BLZE - Backblaze, Inc.

📈 Is growth accelerating? 6 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Revenue Growth YoY (%)	11.7% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	11.8% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	14.0% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+17%)	16.0% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+34%)	15.5% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+29%)	17.6% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+46%)	28.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+140%)	27.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+127%)	28.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+134%)	25.3% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+111%)	14.7% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+23%)	18.9% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+57%)	20.0% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+67%)	22.6% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+88%)	27.3% Excellent → Excellent Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+128%)	28.1% Excellent → Excellent Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+134%)	27.3% Excellent → Excellent Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+127%)	28.2% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+135%)	25.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+111%)	—	—	—	—	—	—
EPS Growth YoY (%)	41.2% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	66.7% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	75.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	48.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	37.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	3.2% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	34.1% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	39.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	46.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	29.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-10.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-10.8% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-22.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-2.3% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-25.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-184.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-105.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-126.3% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-220.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—
Net Income Growth YoY (%)	34.1% Excellent ↓ Excellent Declining Year-over-year change in net income	62.3% Excellent ↑ Excellent Improving Year-over-year change in net income	70.4% Excellent ↑ Excellent Improving Year-over-year change in net income	31.4% Excellent ↑ Excellent Improving Year-over-year change in net income	15.6% Good ↑ Good Improving Year-over-year change in net income	-17.8% Weak ↓ Weak Declining Year-over-year change in net income	20.6% Good ↓ Good Declining Year-over-year change in net income	27.8% Excellent ↑ Excellent Improving Year-over-year change in net income	35.4% Excellent ↑ Excellent Improving Year-over-year change in net income	15.8% Good ↑ Good Improving Year-over-year change in net income	-25.4% Weak ↑ Weak Improving Year-over-year change in net income	-23.9% Weak ↑ Weak Improving Year-over-year change in net income	-36.6% Weak ↑ Weak Improving Year-over-year change in net income	-50.9% Weak ↑ Weak Improving Year-over-year change in net income	-113.6% Weak ↑ Weak Improving Year-over-year change in net income	-378.7% Weak ↓ Weak Declining Year-over-year change in net income	-239.8% Weak ↓ Weak Declining Year-over-year change in net income	-181.0% Weak Weak Year-over-year change in net income	-222.2% Weak Weak Year-over-year change in net income	—	—	—	—	—	—
FCF Growth YoY (%)	-44.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	—	-55.2% Weak ↓ Weak Declining Year-over-year change in free cash flow	7.0% Fair Fair Year-over-year change in free cash flow	10.4% Fair Fair Year-over-year change in free cash flow	—	—	—	N/M	—	—	—	-422.3% Weak Weak Year-over-year change in free cash flow	—	—	-179.2% Weak Weak Year-over-year change in free cash flow	-811.6% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	18.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	18.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	19.0% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	20.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	21.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	21.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	23.5% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	24.7% Excellent → Excellent Stable Compound annual revenue growth over 3 years	25.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	25.4% Excellent Excellent Compound annual revenue growth over 3 years	22.3% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	20.4% Excellent → Excellent Stable Compound annual revenue growth over 5 years	21.0% Excellent Excellent Compound annual revenue growth over 5 years	21.9% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Operating Margin (%) (%)	-13.8% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-169%)	-12.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-162%)	-8.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-145%)	-18.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-193%)	-25.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-229%)	-40.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-304%)	-37.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-287%)	-31.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-257%)	-35.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-275%)	-40.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-302%)	-61.5% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-408%)	-56.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-383%)	-71.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-459%)	-59.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-395%)	-54.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-373%)	-52.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-361%)	-60.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-400%)	-40.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-303%)	-26.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-235%)	-23.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-216%)	-18.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-192%)	-17.0% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-185%)	-7.6% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-138%)	—	—
Effective Tax Rate (%) (%)	-0.5% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.9% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.4% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-6.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.2% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.6% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—
Profit Margin (%) (%)	-15.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-206%)	-14.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-196%)	-10.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-168%)	-19.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-230%)	-26.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-280%)	-42.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-384%)	-39.1% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-361%)	-33.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-321%)	-36.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-346%)	-42.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-383%)	-63.5% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-523%)	-58.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-489%)	-73.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-588%)	-63.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-521%)	-58.0% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-487%)	-56.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-473%)	-64.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-529%)	-51.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-442%)	-34.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-331%)	-15.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-200%)	-24.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-261%)	-23.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-256%)	-13.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-190%)	—	—
FCF Margin (%) (%)	7.0% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	24.0% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	7.0% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	7.6% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	12.8% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	4.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	13.6% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	6.3% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	10.0% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	9.8% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-35.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-28.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-22.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-40.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-7.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-16.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	—	-11.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-0.6% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	19.9% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—
FCF / Net Income (x)	-0.44x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-1.67x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.69x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.39x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.48x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.10x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.35x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.19x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.27x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-0.23x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	0.48x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.44x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.39x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	0.72x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.11x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.33x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	—	0.74x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.03x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-0.85x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Return on Invested Capital (%)	-6.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-5.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-4.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-8.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-11.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-17.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-28.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-21.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-22.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-25.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-32.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-25.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-27.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-19.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-15.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-13.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-13.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-7.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	31.3% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	37.6% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	29.9% Excellent → Excellent Stable Return earned on debt + equity capital invested Optimal: > 10%	36.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	25.6% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	-2.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-1.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-3.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	-8.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	-8.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	—	-11.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-10.3% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-11.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	-8.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	-7.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-4.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	-7.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	-4.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—
Return on Common Equity (%) (%)	-7.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-139%)	-6.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-135%)	-4.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-125%)	-8.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-148%)	-12.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-165%)	-18.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-200%)	-29.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-261%)	-22.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-224%)	-23.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-226%)	-27.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-247%)	-33.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-283%)	-26.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-243%)	-28.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-253%)	-21.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-214%)	-16.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-190%)	-13.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-175%)	-14.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-177%)	-10.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-154%)	40.2% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+117%)	23.0% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+24%)	39.2% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+112%)	50.0% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+170%)	44.9% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+143%)	—	—

⚖️ Is the balance sheet risky? 2 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Interest Coverage (x)	-4.74x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-4.20x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-3.56x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-7.77x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-10.76x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-15.53x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-13.94x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-11.24x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-11.41x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-11.85x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-16.63x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-14.77x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-18.20x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-9.16x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-12.69x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-11.85x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-12.33x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-7.65x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-4.82x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-4.41x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-3.23x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-2.64x Weak Weak Operating income divided by interest expense Optimal: > 5x	-1.33x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—
Net Debt (USD)	$-26.28M	$-29.18M	$-29.08M	$-32.19M	$-40.61M	$-45.78M	$-2.95M	$-9.27M	$-6.32M	$-12.50M	$-9.02M	$-5.89M	$-4.05M	$-6.69M	—	—	$-19.29M	$-104.84M	$-4.68M	—	$-4.46M	$-6.08M	—	—	—

📊 What does each share earn? 6 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Revenue per Share (USD)	$0.65	—	$0.65	$0.65	$0.64	—	$0.75	$0.74	$0.75	—	$0.69	$0.70	$0.69	—	$0.69	$0.66	$0.64	—	$0.91	$0.86	$0.82	—	$0.74	—	—
Basic EPS, GAAP (USD)	$-0.10	$-0.10	$-0.07	$-0.13	$-0.17	$-0.30	$-0.29	$-0.25	$-0.27	$-0.31	$-0.44	$-0.41	$-0.50	$-0.44	$-0.40	$-0.37	$-0.41	$-0.43	$-0.32	$-0.13	$-0.20	$-0.19	$-0.10	—	—
Free Cash Flow per Share (USD)	$0.05	—	$0.05	$0.05	$0.08	—	$0.10	$0.05	$0.07	—	—	—	$-0.24	—	$-0.16	$-0.27	$-0.05	—	—	$-0.10	$-0.01	—	—	—	—
Book Value per Share (USD)	$1.43	—	$1.45	$1.43	$1.44	—	$0.98	$1.07	$1.18	—	$1.29	$1.54	$1.79	—	$2.39	$2.66	$2.87	—	$-0.79	$-0.56	$-0.50	—	$-0.22	—	—
Tangible Book Value per Share (USD)	$1.43	—	$1.45	$1.43	$1.44	—	$0.98	$1.07	$1.18	—	$1.29	$1.54	$1.79	—	$2.39	$2.66	$2.87	—	$-0.79	$-0.56	$-0.50	—	$-0.22	—	—
Basic Weighted Avg Shares (shares)	59.29M	—	56.98M	55.63M	54.06M	—	43.52M	42.15M	40.23M	—	36.67M	35.15M	33.92M	—	31.99M	31.18M	30.54M	—	18.94M	18.71M	18.68M	—	18.61M	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Working Capital (USD)	$2.90M	$4.07M	$5.71M	$4.54M	$5.54M	$5.95M	—	—	$-16.94M	—	$-16.09M	$-6.32M	$4.60M	$18.12M	—	—	$54.03M	$66.02M	$-32.06M	—	—	$-27.14M	—	—	—
Total Equity (USD)	$84.64M	$83.22M	$82.83M	$79.64M	$77.77M	$77.62M	$42.83M	$45.10M	$47.45M	$44.94M	$47.36M	$54.19M	$60.57M	$68.75M	$76.52M	$82.99M	$87.57M	$95.49M	$-14.91M	$-10.52M	$-9.42M	$-6.84M	$-4.14M	$-2.80M	$-2.59M

📋 What is driving earnings? 4 metrics

Metric	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-K ↗	Q3 FY2025 Sep 30, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-K ↗	Q3 FY2024 Sep 30, 2024 10-Q ↗	Q2 FY2024 Jun 30, 2024 10-Q ↗	Q1 FY2024 Mar 31, 2024 10-Q ↗	Q4 FY2023 Dec 31, 2023 10-K ↗	Q3 FY2023 Sep 30, 2023 10-Q ↗	Q2 FY2023 Jun 30, 2023 10-Q ↗	Q1 FY2023 Mar 31, 2023 10-Q ↗	Q4 FY2022 Dec 31, 2022 10-K ↗	Q3 FY2022 Sep 30, 2022 10-Q ↗	Q2 FY2022 Jun 30, 2022 10-Q ↗	Q1 FY2022 Mar 31, 2022 10-Q ↗	Q4 FY2021 Dec 31, 2021 10-K ↗	Q3 FY2021 Sep 30, 2021 10-Q ↗	Q2 FY2021 Jun 30, 2021 10-Q ↗	Q1 FY2021 Mar 31, 2021 10-Q ↗	Q4 FY2020 Dec 31, 2020 10-K ↗	Q3 FY2020 Sep 30, 2020 10-Q ↗	Q2 FY2020 Jun 30, 2020 10-Q ↗	Q4 FY2019 Dec 31, 2019 10-K ↗
Sales/Revenue/Turnover (USD)	$38.67M	$37.76M	$37.16M	$36.30M	$34.61M	$33.79M	$32.59M	$31.29M	$29.97M	$28.74M	$25.30M	$24.59M	$23.39M	$22.93M	$22.05M	$20.69M	$19.49M	$18.70M	$17.32M	$16.15M	$15.31M	$14.59M	$13.82M	—	—
Depreciation Expense (USD)	$6.74M	$6.31M	$6.04M	$5.47M	$7.76M	$7.06M	$7.33M	$7.03M	$6.91M	$6.58M	$5.50M	$5.30M	$5.73M	$5.46M	$5.33M	$4.50M	$4.86M	$4.28M	$3.60M	$3.97M	$4.01M	$3.84M	$3.00M	—	—
Net Income, GAAP (USD)	$-6.15M	$-5.41M	$-3.78M	$-7.10M	$-9.32M	$-14.38M	$-12.75M	$-10.35M	$-11.05M	$-12.21M	$-16.05M	$-14.34M	$-17.11M	$-14.49M	$-12.80M	$-11.57M	$-12.53M	$-9.61M	$-5.99M	$-2.42M	$-3.69M	$-3.42M	$-1.86M	—	—
Operating Cash Flow (USD)	$3.36M	$9.31M	$5.74M	$3.54M	$4.94M	$2.23M	$4.63M	$2.23M	$3.42M	$3.25M	—	—	$-5.19M	$-3.14M	$-2.45M	$-7.29M	$-900.00K	$-2.44M	—	$68.00K	$2.52M	$3.25M	—	—	—

Backblaze, Inc.

Analytical Summary

25-Year Financial Trajectory

Bullish Indicators

Bearish Risks

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