Backblaze, Inc.

Backblaze, Inc. reported a net loss of $25.6 million for fiscal year 2025, despite generating $145.8 million in revenue. The company's gross profit was $88.8 million, resulting in a gross margin of 60.9%. Operating expenses totaled $112.4 million, leading to an operating loss of $23.6 million. The company generated positive operating cash flow of $23.5 million, primarily driven by non-cash adjustments including $26.4 million in stock-based compensation and $25.6 million in depreciation and amortization. Total assets stood at $191.8 million with $65.7 million in current assets, while liabilities totaled $108.6 million. The company's cash position decreased by $16.6 million during the year, ending with $29.2 million in cash and cash equivalents. The balance sheet shows stockholders' equity of $83.2 million with an accumulated deficit of $221.6 million.

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