Backblaze Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	145.84	127.63	102.02	85.16	67.48
Revenue Growth (YoY)	14.27%	25.10%	19.80%	26.20%	25.46%
Cost of Revenue	57.04	58.29	52.16	41.29	33.14
Gross Profit	88.79	69.34	49.86	43.86	34.34
Selling, General & Admin	66.31	73.53	68.24	58.87	32.6
Research & Development	46.11	42.1	39.53	33.11	20.54
Total Operating Expenses	112.42	115.63	107.76	91.98	53.14
Operating Income	-23.62	-46.29	-57.91	-48.11	-18.79
Interest Income	1.96	1.42	1.98	0.97	-
Interest Expense	-3.87	-3.66	-3.79	-4.29	-3.68
Other Non-Operating Income (Expense)	-	-	-	-	0.86
Total Non-Operating Income (Expense)	-1.91	-2.24	-1.81	-3.32	-2.81
Pretax Income	-25.53	-48.53	-59.71	-51.44	-21.61
Provision for Income Taxes	0.08	0.01	-	-0.04	0.1
Net Income	-25.61	-48.53	-59.71	-51.4	-21.7
Net Income to Common	-25.61	-48.53	-59.71	-51.4	-21.7
Shares Outstanding (Basic)	56	44	36	32	20
Shares Outstanding (Diluted)	56	44	36	32	20
Shares Change (YoY)	29.09%	20.91%	13.74%	55.62%	9.33%
EPS (Basic)	-0.46	-1.11	-1.66	-1.62	-1.07
EPS (Diluted)	-0.46	-1.11	-1.66	-1.62	-1.07
Free Cash Flow	18.85	10.79	-12.86	-21.13	-4.04
Free Cash Flow Growth	74.63%	-	-	-	-
Free Cash Flow Per Share	0.34	0.25	-0.36	-0.67	-0.20
Gross Margin	60.89%	54.33%	48.87%	51.51%	50.89%
Operating Margin	-16.20%	-36.27%	-56.76%	-56.50%	-27.85%
Profit Margin	-17.56%	-38.03%	-58.53%	-60.36%	-32.16%
FCF Margin	12.93%	8.46%	-12.61%	-24.81%	-5.99%
EBITDA	1.97	-17.96	-32.99	-27.96	-2.47
EBITDA Margin	1.35%	-14.07%	-32.34%	-32.84%	-3.66%
EBIT	-23.62	-46.29	-57.91	-48.11	-18.79
EBIT Margin	-16.20%	-36.27%	-56.76%	-56.50%	-27.85%
Effective Tax Rate	-0.33%	-0.01%	0.00%	0.08%	-0.44%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q