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Backblaze, Inc. BLZE Reportable Segment — Adjusted research and development

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Other financials

Income statement

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Revenue$38.7M+11.7%
Gross profit$23.5M+22.2%
Operating income-$5.4M+39.0%
Net income-$6.1M+34.1%
EPS (diluted)-$0.10+41.2%

Balance sheet

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Cash & equivalents$26.3M-35.3%
Total debt$62.0M+35.7%
Total equity$84.6M+8.8%
Total assets$192.7M+13.2%

Cash flow

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Operating cash flow$3.4M-32.0%
CapEx$651.0K+29.4%
Free cash flow$2.7M-39.0%

Valuation

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Market cap$1.16B+197%
Enterprise value$1.2B+186%
P/S7.8×+4.9×

Profitability

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Gross margin62.1%+7.1pp
Operating margin-13.4%-5.0pp
Net margin-15%-5.5pp
FCF margin11.4%+2.2pp

Returns & leverage

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Return on equity-27.6%-10.7pp
Debt / equity0.7×+0.1×
Current ratio0.0×

Where this comes from

Reported directly by Backblaze, Inc. in its filing.

Tagged under the XBRL concept blze:ResearchAndDevelopmentExpenseAdjusted.

The source filing: Backblaze, Inc.’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 4:06 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-029797
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Revenue$38,666$34,613
Adjusted cost of revenue7,9297,293
Adjusted research and development8,2108,330
Adjusted sales and marketing7,2827,426
Adjusted general and administrative5,1025,212
Depreciation3,7505,251
Amortization(1)2,8432,513
Stock-based compensation(2)6,7127,359

Item 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Backblaze, Inc.'s reportable segment — adjusted research and development?
Backblaze, Inc. (BLZE) reported reportable segment — adjusted research and development of $8.21M in Q1 2026.
How has Backblaze, Inc.'s reportable segment — adjusted research and development changed year-over-year?
Backblaze, Inc.'s reportable segment — adjusted research and development decreased by 1.4% year-over-year, from $8.33M to $8.21M.
What is the long-term trend for Backblaze, Inc.'s reportable segment — adjusted research and development?
Over 2 years (2023 to 2025), Backblaze, Inc.'s reportable segment — adjusted research and development has grown at a 10.0% compound annual growth rate (CAGR), from $27.51M to $33.27M.
What does reportable segment — adjusted research and development mean?
This metric captures the adjusted expenses incurred for developing new features, enhancing existing cloud storage technologies, and maintaining infrastructure reliability. It reflects the company's commitment to innovation and long-term product competitiveness in the IaaS market.

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