Backblaze Inc (NASDAQ: BLZE) is a cloud storage company that provides object storage and computer backup services to individuals, developers, and businesses. It makes money through two primary models: a consumption-based pricing model for B2 Cloud Storage, charged per gigabyte stored per month, and a flat-rate SaaS subscription for Computer Backup, offered on monthly, annual, or biennial terms. As of December 31, 2025, total company ARR was $154.4 million across 503,866 customers, with B2 Cloud Storage ARR of $88.9 million and Computer Backup ARR of $65.5 million. Backblaze positions itself as a lower-cost, simpler alternative to the major hyperscale cloud providers, competing on price and ease of use. The company was founded with the goal of reducing the complexity of data storage and operates a purpose-built, web-scale software infrastructure. Gross customer retention rate held at approximately 90% across both products as of December 31, 2025 and December 31, 2024.

Revenue model

B2 Cloud Storage uses a consumption-based model billed per gigabyte stored per month, with capacity or committed contract options available. Computer Backup uses a flat-rate SaaS subscription per computer, recognized ratably over the subscription term, offered monthly, annually, or biennially. Add-on services such as Enterprise Control and multi-region selection generate incremental revenue beyond core offerings.

Products and services

B2 Cloud Storage: object storage platform with industry-standard API access, targeting developers, AI workloads, media and entertainment, and cyber resilience use cases. Computer Backup: unlimited backup SaaS product for individual computers, offered with a free 14-day trial. Powered by Backblaze: a program for neocloud platforms and AI model builders. Flamethrower: a startup program offering product credits, technical support, and ecosystem partnerships.

Customers and end markets

As of December 31, 2025: 119,154 B2 Cloud Storage customers (ARR $88.9M, ARPU $750), 402,589 Computer Backup customers (ARR $65.5M, ARPU $163). End markets include AI model builders, application developers, media and entertainment, cyber resilience, managed service providers (MSPs), state and local governments, educational institutions, and individual users. Go-to-market channels include self-serve product-led growth, direct sales, technology partners, channel resellers, and MSPs.

Value-chain role

Infrastructure-layer cloud storage provider. Backblaze owns and operates its own storage infrastructure using finance leases to scale capacity, and delivers storage as a platform that technology partners, SaaS vendors, backup software providers, and MSPs integrate into their own products and services.

Source: SEC 10-K, filed 2026-03-10

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