Backblaze, Inc.
$7.95
-11%Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as backups, multi-cloud, application development, and ransomware protection. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides a subscription-based Software-as-a-Service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. The company was incorporated in 2007 and is headquartered in San Mateo, California.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -17.3).
Valuation inputs: P/E -17.3, earnings yield N/A, momentum -10.7%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -30.8%, ROIC -13.4%).
Profitability stack: net margin -17.6%, ROE -30.8%, ROIC -13.4%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile is elevated and scenario stress-testing is essential.
Risk factors: liabilities/assets +56.6%, momentum -10.7%, net margin -17.6%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Backblaze, Inc. Market vs Earnings Trajectory
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Backblaze, Inc. Fair Value Envelope
Backblaze, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
Backblaze, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.
Cash Flow Quality Insight
Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.
Backblaze, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.
Debt-to-Equity Ratio
Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.
Working Capital
Positive working capital, but relatively tight. The company should monitor cash flow carefully.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Backblaze, Inc. Street Expectations Map
Wall Street analysts project that BLZE stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 8.10, with estimates ranging from a low of 4.50 to a high of 11.00.
The consensus 1-year price target stands at 8.10, with estimates ranging from a low of 4.50 to a high of 11.00.
Analyst Consensus Analysis
Upside Potential
Fair value territory. Stock trading near consensus target suggests limited near-term catalysts. Focus on fundamental developments.
Analyst Agreement
High uncertainty. Very wide target spread indicates significant disagreement among analysts—major valuation uncertainty or transformation underway.
Risk-Reward Profile
Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.
Analyst Conviction
High uncertainty: Wide dispersion indicates analysts struggle to agree on valuation—proceed with caution and independent analysis.
Market Sentiment Insight
Extreme uncertainty: Massive dispersion in price targets reflects fundamental disagreement on business trajectory. This could signal transformation, disruption, or complex valuation—requires deep sector expertise and contrarian mindset.
Backblaze, Inc. Insider Positioning
During the last 12 months, insiders have sold $411K worth of BLZE shares, with no buying activity reported.
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3-6 Months
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6-9 Months
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9-12 Months
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53.7K
411.04K
-411K
-$411K
Top Buyers
No buying activity
Top Sellers
Suidan Marc
Officer: Chief Financial Officer
$205K
Budman Gleb
Director, Officer: Ceo And Chairperson
$157K
Cessna Tina
Officer: Senior Vp, Engineering
$49K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $411K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
3 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
No Dividend Yield Data
BLZE has not reported any dividend yield values in the available annual periods.
blze Dividend History
Learning Layer
Related Guides
Build conviction on BLZE by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.