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Backblaze, Inc. BLZE Free cash flow margin

Free cash flow margin at other companies

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MicrosoftMSFT
22.9%-2.8pp
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27%+6.6pp
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AmazonAMZN
1.4%-1.8pp
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Cloudflare, Inc.NET
13.8%+1.7pp
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Dell TechnologiesDELL
7%+3.1pp
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DigitalOceanDOCN
19.5%+9.2pp

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$805.4M+194%
Enterprise value$841.15M+201%
P/S5.4×+3.3×

Profitability

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

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

Calculated from Backblaze, Inc.’s reported figures.

Based on trailing twelve months.

The official record: Backblaze, Inc.’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Backblaze, Inc.'s free cash flow margin?
Backblaze, Inc. (BLZE) reported free cash flow margin of 11.4% in Q1 2026.
How has Backblaze, Inc.'s free cash flow margin changed year-over-year?
Backblaze, Inc.'s free cash flow margin increased by 23.4% year-over-year, from 9.3% to 11.4%.
What is the long-term trend for Backblaze, Inc.'s free cash flow margin?
Over 2 years (2022 to 2025), Backblaze, Inc.'s free cash flow margin has grown at a -27.8% compound annual growth rate (CAGR), from -24.8% to 12.9%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.