Backblaze, Inc. reported a total revenue of $145.8 million for the fiscal year ending December 31, 2025, marking a 14% increase from $127.6 million in 2024. The growth was primarily driven by a 26% rise in revenue from its B2 Cloud Storage service, which generated $79.9 million, and a modest 3% increase in Computer Backup revenue, totaling $65.9 million. Despite the revenue growth, the company incurred a net loss of $25.6 million, an improvement from the $48.5 million loss reported in the previous year. This loss reflects ongoing investments in scaling operations and enhancing product offerings.
In terms of operational metrics, Backblaze's customer base remained stable, with approximately 503,866 customers as of December 31, 2025, a slight decrease from 507,647 in 2024. The company maintained a gross customer retention rate of 91% and a net revenue retention rate of 105%. The annual average revenue per user (ARPU) increased to $307, up from $268 in the prior year, indicating a successful strategy in upselling and cross-selling to existing customers. The company also reported managing around 5 billion gigabytes of data across its platform, underscoring its significant market presence.
Strategically, Backblaze has focused on enhancing its product offerings, launching B2 Overdrive, a high-performance cloud storage solution tailored for data-intensive workloads, including AI and machine learning applications. The company also initiated a restructuring plan in November 2025 aimed at improving operational efficiency and reallocating resources to better support its sales and marketing functions. This plan is expected to incur additional charges of approximately $4.7 million to $7.5 million through early 2027.
Geographically, Backblaze's revenue distribution shows a strong presence in the United States, which accounted for $104.6 million, or 72% of total revenue. The company has also expanded its international footprint, with 28% of revenue coming from customers outside the U.S. This expansion includes the establishment of a new data center in Canada, which is part of its strategy to enhance service delivery and meet growing customer demands.
Looking ahead, Backblaze anticipates continued growth driven by its focus on enterprise customers and the integration of advanced technologies into its offerings. The company plans to invest further in research and development to enhance its platform capabilities and address the evolving needs of its customer base, particularly in the AI sector. However, the company also acknowledges the challenges posed by market competition and economic conditions, which could impact its financial performance in the future.
About Backblaze, Inc.
Backblaze, Inc. provides cloud storage and backup services through its purpose-built Storage Cloud platform, designed for ease of use, affordability, reliability, and performance. Its core offerings include B2 Cloud Storage, an Infrastructure-as-a-Service solution for scalable data storage, and Computer Backup, a subscription-based service for continuous device backup. Serving over 500,000 customers globally across industries, Backblaze leverages a self-serve and direct sales model supported by a broad partner ecosystem.
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