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Backblaze, Inc. BLZE Operating margin

Operating margin at other companies

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MicrosoftMSFT
46.8%+1.6pp
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NetAppNTAP
24.2%+3.8pp
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AmazonAMZN
11.5%+0.5pp
Cloudflare, Inc. logo
Cloudflare, Inc.NET
-9.3%+0.7pp
Dell Technologies logo
Dell TechnologiesDELL
7.9%+1.3pp
DigitalOcean logo
DigitalOceanDOCN
16.4%+1.9pp

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
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

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 operating margin?
Backblaze, Inc. (BLZE) reported operating margin of -13.4% in Q1 2026.
How has Backblaze, Inc.'s operating margin changed year-over-year?
Backblaze, Inc.'s operating margin increased by 60.3% year-over-year, from -33.7% to -13.4%.
What is the long-term trend for Backblaze, Inc.'s operating margin?
Over 4 years (2021 to 2025), Backblaze, Inc.'s operating margin has grown at a -12.8% compound annual growth rate (CAGR), from -27.9% to -16.1%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.