Stocks · Technology · Software - Infrastructure
Backblaze, Inc. BLZE
$14.36 +1.27% Close, Oct 2, 2026 · NASDAQ · Market cap $861.8M
Strong growthHigh risk
Next earnings report: Nov 5, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to -11.2% from -30.2% a year earlier.
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +100.0%).
- Net debt is 4.9× EBITDA, a high level of leverage.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 46%
- FCF growth (TTM, YoY)Top 7%
- Revenue growth, 3-year CAGRTop 20%
- Revenue growth accelerationBottom 50%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 21%
- Gross marginTop 37%
- Operating marginBottom 25%
- Accruals (lower is better)Top 10%
- Net debt / EBITDA (lower is better)Bottom 6%
- Interest coverBottom 27%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 28%
- Free-cash-flow yieldBottom 46%
- EBITDA / enterprise valueBottom 37%
- Sales / enterprise valueBottom 37%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 23%
- 6-month returnTop 1%
- 1-year return vs S&P 500Top 25%
- Distance from 52-week highBottom 34%
- Trend checklist (0–4)Top 44%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 4%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyTop 13%
- Upside to consensus price targetTop 39%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 14%
- Maximum drawdown, 3 yearsBottom 28%
- Beta vs S&P 500 (lower is better)Bottom 19%
- Net debt / EBITDA (lower is better)Bottom 6%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 13.3% | 13.9% | ↑ |
| Gross margin | 57.3% | 62.0% | ↑ |
| Operating margin | -30.2% | -11.2% | ↑ |
| FCF margin | 5.5% | 13.2% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 13.9% | 13.3% | ↑ | Top 46% |
| Gross margin | 62.0% | 57.3% | ↑ | Top 37% |
| Operating margin | -11.2% | -30.2% | ↑ | Bottom 25% |
| Net margin | -13.1% | -31.7% | ↑ | — |
| Free-cash-flow margin | 13.2% | 5.5% | ↑ | — |
| Return on invested capital | -9.9% | — | Bottom 21% | |
| Revenue growth, 3-year CAGR | 19.6% | — | Top 20% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -22.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 17.8%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +48.7 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 4.94×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -3.8×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.61%
- Shareholder yield
- -0.61%
- Share count change, 1 year
- +9.3%
- Share count change, 3-year CAGR
- +20.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 3, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +100.0%
- Average 2-day reaction, last 8
- -0.3%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $20.00
- Target vs current price
- +39.3%
- Analysts with a rating
- 9
- Share rating Buy or Strong Buy
- 89%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 3, 2026 | +366.7% | +13.6% | +37.2% | +4.4% | — |
| May 4, 2026 | +133.4% | +4.3% | +68.1% | +104.7% | +155.7% |
| Feb 23, 2026 | +500.0% | -0.7% | -14.5% | -16.8% | +68.4% |
| Nov 6, 2025 | +400.0% | -33.8% | -41.8% | -48.0% | -54.4% |
| Aug 7, 2025 | +120.0% | +24.9% | +47.7% | +62.4% | +93.3% |
| May 7, 2025 | +50.0% | +0.4% | +18.4% | +29.3% | +8.7% |
| Feb 25, 2025 | +25.0% | -10.6% | -15.1% | -21.9% | -24.7% |
| Nov 7, 2024 | +9.1% | -0.5% | -15.5% | -15.9% | -21.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 3, 2026 | $0.08 | $0.02 | +366.7% | $42.7M |
| May 4, 2026 | $0.04 | $0.02 | +133.4% | $38.7M |
| Feb 23, 2026 | $0.06 | $0.01 | +500.0% | $37.8M |
| Nov 6, 2025 | $0.03 | -$0.01 | +400.0% | $37.2M |
| Aug 7, 2025 | $0.01 | -$0.05 | +120.0% | $36.3M |
| May 7, 2025 | -$0.03 | -$0.06 | +50.0% | $34.6M |
| Feb 25, 2025 | -$0.06 | -$0.08 | +25.0% | $33.8M |
| Nov 7, 2024 | -$0.10 | -$0.11 | +9.1% | $32.6M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (forward) | 71.8× | — | — | — |
| EV / EBITDA | 90.0× | — | — | Bottom 37% |
| EV / Sales | 5.83× | — | — | Bottom 37% |
| Free-cash-flow yield | 2.39% | — | — | Bottom 46% |
| Earnings yield | -2.37% | — | — | Bottom 28% |
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 105
- 50-day average slope (20 days)
- -4.1%
- 200-day average slope (20 days)
- +11.3%
- Distance from 50-day average
- -4.0%
- Distance from 200-day average
- +66.2%
- RSI (14)
- 53.1
- Relative volume
- 0.54×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 93.3%
- Volatility vs own 5-year history
- 74th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.19
- Correlation with S&P 500
- 0.31
- Current drawdown from 1-year high
- -29.7%
- Maximum drawdown, 3 years
- -72.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 16, 2021 | Mar 30, 2026 | -89.5% | 1094 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $861.8M
- EPS, diluted (TTM)
- -$0.34
- Revenue (TTM)
- $156.3M
- 52-week range
- $3.26 – $23.99
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $67.5M | $85.2M | $102.0M | $127.6M | $145.8M |
| Gross profit | $34.3M | $43.9M | $49.9M | $69.3M | $88.8M |
| Operating income | -$18.8M | -$48.1M | -$57.9M | -$46.3M | -$23.6M |
| Net income | -$21.7M | -$51.4M | -$59.7M | -$48.5M | -$25.6M |
| EPS (diluted) | -$0.71 | -$1.63 | -$1.66 | -$1.11 | -$0.46 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.6M | $33.8M | $34.6M | $36.3M | $37.2M | $37.8M | $38.7M | $42.7M |
| Net income | -$12.8M | -$14.4M | -$9.3M | -$7.1M | -$3.8M | -$5.4M | -$6.1M | -$5.1M |
| EPS (diluted) | -$0.29 | -$0.30 | -$0.17 | -$0.13 | -$0.07 | -$0.09 | -$0.10 | -$0.08 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $3.5M | -$13.8M | -$7.3M | $12.5M | $23.5M |
| Capital expenditure | -$11.2M | -$16.0M | -$20.2M | -$1.7M | -$12.3M |
| Free cash flow | -$7.7M | -$29.8M | -$27.6M | $10.8M | $11.3M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $107.0M | $0 | $0 | $37.4M | $5.9M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $49.9M
- Total assets
- $223.8M
- Total liabilities
- $135.3M
- Total debt
- $82.4M
- Net debt
- $50.0M
- Shareholders’ equity
- $88.5M
As of Jun 30, 2026 (filed Aug 3, 2026).
Short interest
- Shares sold short
- 5,508,117
- Days to cover
- 3.37
- Change vs previous report
- +30.8%
FINRA short interest, settlement date Sep 15, 2026.