Backblaze (BLZE) EBT Margin (2020 - 2025)
Backblaze's EBT Margin was -10.17% in Q3 2025, up 28.97 percentage points from -39.13% a year earlier and up 9.39 percentage points from the prior quarter.
Powered by 
Analysis
Backblaze (BLZE) EBT Margin (2020 - 2025) Analysis & Trends
On a trailing twelve-month basis, Backblaze's EBT Margin was -24.31% through Sep 30, 2025, up 13.50 percentage points year-over-year; for FY2024, it was -38.02%, up 20.51 percentage points from FY2023.
- EBT Margin shows a four-year change of -25.72 percentage points (FY2020 to FY2024).
- In earlier years, EBT Margin was -58.53% in FY2023 (+1.87 pp), -60.40% in FY2022 (-28.38 pp), -32.02% in FY2021 (-19.72 pp) and -12.30% in FY2020.
- The Q3 2025 figure marks the highest quarterly EBT Margin in data going back to Q3 2020.
- Compared with a year earlier, EBT Margin has increased for three straight quarters, with an average year-over-year change of +19.88 percentage points over the last eight quarters.
- The best year-over-year quarter for EBT Margin over five years was Q1 2024 (a gain of 36.29 percentage points); the worst was Q2 2022 (a drop of 42.00 percentage points).
- Per Business Quant data, BLZE's EBT Margin in the three quarters before Q3 2025 was -19.55% (Q2 2025), -26.70% (Q1 2025) and -42.55% (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 48.94% |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 14.44% |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | -24.13% |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | 19.92% |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | -30.35% |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | -21.90% |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 64.80% |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 10.93% |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 9.10% |
| 10 | Backblaze | 781.26 Mn | 575.83 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -10.17% |
| Jun 30, 2025 | -19.55% |
| Mar 31, 2025 | -26.70% |
| Dec 31, 2024 | -42.55% |
| Sep 30, 2024 | -39.13% |
| Jun 30, 2024 | -33.08% |
| Mar 31, 2024 | -36.86% |
| Dec 31, 2023 | -42.48% |
| Sep 30, 2023 | -63.46% |
| Jun 30, 2023 | -58.31% |
| Mar 31, 2023 | -73.15% |
| Dec 31, 2022 | -63.09% |
| Sep 30, 2022 | -58.05% |
| Jun 30, 2022 | -56.13% |
| Mar 31, 2022 | -64.45% |
| Dec 31, 2021 | -51.59% |
| Sep 30, 2021 | -34.60% |
| Jun 30, 2021 | -14.13% |
| Mar 31, 2021 | -24.09% |
| Dec 31, 2020 | -23.48% |
API Access
Backblaze EBT 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=ebt-margin&ticker=BLZE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-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=ebt-margin&ticker=BLZE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();