Backblaze, Inc. Class A (BLZE)

Over the past six months, Backblaze's stock has experienced a decline. As of December 19, 2025, the share price was $4.82, representing a 24.09% decrease from $6.35 on December 23, 2024. In Q3 2025, the company reported revenue of $37.2 million, a 14% increase year-over-year, and a net loss of $3.8 million, an improvement from a $12.8 million net loss in Q3 2024. Adjusted EBITDA was $8.4 million, or 23% of revenue. Annual recurring revenue (ARR) increased by 13% year-over-year to $147.2 million.

While specific seasonal fluctuations in demand for Backblaze's products and services are not explicitly detailed, the overall market for cloud storage is experiencing a significant demand surge. This growth is primarily driven by the increasing data demands from artificial intelligence (AI), the Internet of Things (IoT), and streaming services. Backblaze implemented a price increase for its B2 Cloud Storage and Computer Backup effective October 3, 2023.

Backblaze, Inc. is an American cloud storage and data backup company founded in 2007 and headquartered in San Mateo, California. It operates within the Electronic Technology sector, providing cloud services through a web-scale software infrastructure. The company's primary products include Backblaze B2 Cloud Storage, an Infrastructure-as-a-Service (IaaS) offering, and Backblaze Computer Backup, an unlimited cloud backup service for individuals and businesses.

Backblaze has a global geographic footprint with data centers located in multiple regions. In the United States, they operate data centers in Northern California, Phoenix, Arizona, and Reston, Virginia. Internationally, Backblaze has data centers in Amsterdam, Netherlands, and Toronto, Canada. The company primarily derives its revenue from the United States, with additional revenue from the United Kingdom, Canada, and other regions.

Backblaze has maintained a positive brand reputation, particularly in industry reports. In G2's Winter 2025 Report, Backblaze was recognized as a Leader, earning over 15 badges. However, a Reddit discussion from June 2024 mentioned a user's negative experience with a deleted backup, though a former Backblaze employee provided a detailed explanation.

Backblaze, Inc. has a diverse ownership structure comprising institutional investors, individual investors, and insiders. Approximately 39.20% of the company's stock is owned by Institutional Investors, 5.10% by Insiders, and 55.70% by Public Companies and Individual Investors. Major institutional owners include BlackRock, Inc., AWM Investment Company, Inc., and Vanguard Group Inc. Key individual owners and insiders include TMT Investments PLC, Gleb Budman, and Brian Wilson.