Backblaze (BLZE) Cost of Revenue (2020 - 2025)

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 $68.3 million (up 6.66% YoY), while the FY2024 annual figure was $58.3 million, up 11.74% from the prior year.
• Cost of Revenue was $14.1 million for Q3 2025 at Backblaze, up from $13.3 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $25.5 million in Q4 2024 to a low of $4.3 million in Q2 2021.
• Historically, Cost of Revenue has averaged $12.7 million across 5 years, with a median of $11.2 million in 2022.
• The sharpest annual moves came in 2021 and 2022: Cost of Revenue soared 188.19% in 2021, then plunged 43.87% in 2022.
• A 5-year view of Cost of Revenue shows it stood at $20.0 million in 2021, then slumped by 43.87% to $11.2 million in 2022, then surged by 87.11% to $21.0 million in 2023, then increased by 21.71% to $25.5 million in 2024, then sank by 44.85% to $14.1 million in 2025.
• The last three Cost of Revenue figures came in at $14.1 million (Q3 2025), $13.3 million (Q2 2025), and $15.4 million (Q1 2025), per Business Quant data.