Backblaze (BLZE) Cost of Revenue (2020 - 2025)
Backblaze (BLZE) posted quarterly Cost of Revenue of $14.1 million for Q3 2025, down 4.72% year-over-year from $14.8 million in Q3 2024, and up 6.29% quarter-over-quarter from $13.3 million in Q2 2025.
Backblaze (BLZE) Cost of Revenue (2020 - 2025) Analysis & Trends
Backblaze's Cost of Revenue history runs 6 years deep, the most recent figure standing at $14.1 million for Q3 2025.
- In Q3 2025, Cost of Revenue fell 4.72% year-over-year to $14.1 million; the TTM figure through Sep 2025 stood at $58.0 million (up 2.35% YoY), while the FY2024 annual figure was $58.3 million, up 11.74% from the prior year.
- Cost of Revenue for Q3 2025 stood at $14.1 million, up from $13.3 million in the prior quarter.
- The five-year high for Cost of Revenue was $15.4 million in Q1 2025, with the low at $7.8 million in Q1 2021.
- The 5-year median for Cost of Revenue is $12.5 million (2023), against an average of $12.0 million.
- The sharpest annual moves came in 2023 and 2025: Cost of Revenue soared 31.21% in 2023, then decreased 5.68% in 2025.
- Backblaze's Cost of Revenue stood at $8.9 million in 2021, then climbed by 26.58% to $11.2 million in 2022, then climbed by 21.7% to $13.7 million in 2023, then grew by 11.94% to $15.3 million in 2024, then declined by 7.8% to $14.1 million in 2025.
- Business Quant data shows BLZE's Cost of Revenue at $14.1 million in Q3 2025, $13.3 million in Q2 2025, and $15.4 million in Q1 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 29.53 Bn |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | - |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 296.87 Mn |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 974.00 Mn |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 404.70 Mn |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 196.54 Mn |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 637.38 Mn |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | 879.00 Mn |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 3.45 Bn |
| 10 | Backblaze | 1.10 Bn | 1.05 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | 14.09 Mn |
| Sep 30, 2025 | 14.09 Mn |
| Jun 30, 2025 | 13.26 Mn |
| Jun 30, 2025 | 13.26 Mn |
| Mar 31, 2025 | 15.36 Mn |
| Mar 31, 2025 | 15.36 Mn |
| Dec 31, 2024 | 15.28 Mn |
| Dec 31, 2024 | 15.28 Mn |
| Sep 30, 2024 | 14.79 Mn |
| Sep 30, 2024 | 14.79 Mn |
| Jun 30, 2024 | 14.06 Mn |
| Jun 30, 2024 | 14.06 Mn |
| Mar 31, 2024 | 14.16 Mn |
| Mar 31, 2024 | 14.16 Mn |
| Dec 31, 2023 | 13.65 Mn |
| Dec 31, 2023 | 13.65 Mn |
| Sep 30, 2023 | 13.55 Mn |
| Sep 30, 2023 | 13.55 Mn |
| Jun 30, 2023 | 12.54 Mn |
| Jun 30, 2023 | 12.54 Mn |