Backblaze (BLZE) EBITDA Margin (2020 - 2025)
Backblaze's EBITDA Margin came in at 7.33% for Q3 2025, up 22.26 percentage points from -14.93% a year earlier and up 9.44 percentage points from the prior quarter.
Powered by 
Analysis
Backblaze (BLZE) EBITDA Margin (2020 - 2025) Analysis & Trends
Over the trailing twelve months to Sep 30, 2025, Backblaze reported EBITDA Margin of -4.06%, up 9.23 percentage points year-over-year; for FY2024, it came in at -14.07%, up 18.27 percentage points from FY2023.
- EBITDA Margin carries a four-year change of -32.52 percentage points (FY2020 to FY2024).
- Going back by year, EBITDA Margin was -32.34% in FY2023 (+0.50 pp), -32.84% in FY2022 (-30.33 pp), -2.50% in FY2021 (-20.95 pp) and 18.44% in FY2020.
- The Q3 2025 figure represents the highest quarterly EBITDA Margin since Q1 2021.
- Year-over-year, EBITDA Margin has increased for three consecutive quarters, with an average year-over-year change of +16.57 percentage points over the last eight quarters.
- The fastest year-over-year change in EBITDA Margin over five years came in Q1 2024 (a gain of 35.30 percentage points), and the weakest in Q1 2022 (a drop of 42.81 percentage points).
- Business Quant data shows BLZE's EBITDA Margin at -2.11% (Q2 2025), -2.91% (Q1 2025) and -19.87% (Q4 2024) in the three quarters before Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 57.36% |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 23.10% |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | -15.49% |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | 46.55% |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | 14.39% |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | 52.19% |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 69.70% |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 11.50% |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 24.17% |
| 10 | Backblaze | 781.26 Mn | 575.83 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 7.33% |
| Jun 30, 2025 | -2.11% |
| Mar 31, 2025 | -2.91% |
| Dec 31, 2024 | -19.87% |
| Sep 30, 2024 | -14.93% |
| Jun 30, 2024 | -8.90% |
| Mar 31, 2024 | -12.01% |
| Dec 31, 2023 | -17.57% |
| Sep 30, 2023 | -35.94% |
| Jun 30, 2023 | -31.65% |
| Mar 31, 2023 | -47.31% |
| Dec 31, 2022 | -35.26% |
| Sep 30, 2022 | -30.53% |
| Jun 30, 2022 | -30.55% |
| Mar 31, 2022 | -35.02% |
| Dec 31, 2021 | -13.35% |
| Sep 30, 2021 | -2.35% |
| Jun 30, 2021 | 1.47% |
| Mar 31, 2021 | 7.79% |
| Dec 31, 2020 | 10.66% |
API Access
Backblaze EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=BLZE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "BLZE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=BLZE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();