Backblaze, Inc. Class A (BLZE)

Over the past six months, Backblaze has experienced several notable events impacting its stock. In the second quarter of 2025, Backblaze announced strong quarterly performance, with B2 revenue growth accelerating and raised its full-year revenue guidance. Several analyst firms adjusted their price targets and ratings for Backblaze. Shares of BLZE opened at $10.40 on October 28, 2025, with a 12-month low of $3.94 and a 12-month high of $10.83. Backblaze announced an equity buyback for $10 million worth of its shares. Backblaze raised $37.4 million in net proceeds from a follow-on public offering.

While specific detailed information on demand seasonality for Backblaze's products and services is not explicitly provided, the demand for cloud storage and data backup services is generally driven by the increasing volume of digital data generated by individuals and businesses. Backblaze's increasing focus on enterprise customers suggests a more consistent demand driven by ongoing business operations and technological advancements rather than seasonal consumer patterns. The need for data backup and disaster recovery is a continuous requirement for businesses and individuals, implying a relatively stable demand throughout the year.

Backblaze, Inc., founded in 2007 and headquartered in San Mateo, California, is an American cloud storage and data backup company operating in the Technology sector, specifically in the Software - Infrastructure and Internet Services and Infrastructure industries. The company provides cloud services to businesses and consumers for storing, using, and protecting data. Its primary products include Backblaze B2 Cloud Storage, an infrastructure-as-a-service (IaaS) offering, and Backblaze Computer Backup, a subscription-based software-as-a-service (SaaS) for automatic data backup from laptops and desktops.

Backblaze, Inc. serves over 500,000 customers in 175 countries globally. The company operates six data centers: four in the United States (two in Northern California near Sacramento, one in Phoenix, Arizona, and one in Reston, Virginia), one in Canada (Toronto), and one in Europe (Amsterdam, Netherlands). In July 2025, Backblaze announced a significant expansion of its data center presence in its US-East region to enhance high-speed data transfer capabilities, especially for AI, high-performance computing (HPC), and media and entertainment workflows.

Backblaze maintains a reputation as a cloud storage innovator providing a modern alternative to traditional cloud providers, emphasizing high-performance, secure, and affordable cloud object storage without vendor lock-in. Backblaze has focused on AI and Machine Learning, launching enterprise security features and expanding its data center. The company consistently reports quarterly reliability statistics for its data center hard drives, which contributes to its reputation for transparency and expertise in storage.

Hedge funds and other institutional investors own 54.03% of Backblaze's stock. Several major institutional investors have recently adjusted their positions in Backblaze. Backblaze's Board of Directors has also adopted a stock ownership policy to align the interests of company leadership with stockholders, requiring non-employee directors and executives to maintain a material amount of company equity.