Backblaze (BLZE) Gross Margin (2020 - 2025)
Backblaze (BLZE) posted quarterly Gross Margin of 62.08% for Q3 2025, up 746.0% year-over-year from 7.34% in Q3 2024, and down 2.2% quarter-over-quarter from 63.48% in Q2 2025.
Powered by 
Analysis
Backblaze (BLZE) Gross Margin (2020 - 2025) Analysis & Trends
Backblaze's Gross Margin history runs 6 years deep, the most recent figure standing at 62.08% for Q3 2025.
- In Q3 2025, Gross Margin rose 746.0% year-over-year to 62.08%; the TTM figure through Sep 2025 stood at 59.12% (up 534.0% YoY), while the FY2024 annual figure was 54.33%, up 546.0% from the prior year.
- Gross Margin for Q3 2025 stood at 62.08%, down from 63.48% in the prior quarter.
- The five-year high for Gross Margin was 63.48% in Q2 2025, with the low at 46.46% in Q3 2023.
- The 5-year median for Gross Margin is 52.49% (2023), against an average of 52.76%.
- The sharpest annual moves came in 2023 and 2025: Gross Margin tumbled 480 bps in 2023, then surged 841 bps in 2025.
- Backblaze's Gross Margin stood at 52.6% in 2021, then retreated by 3 bps to 51.06% in 2022, then rose by 3 bps to 52.49% in 2023, then gained by 4 bps to 54.77% in 2024, then gained by 13 bps to 62.08% in 2025.
- Business Quant data shows BLZE's Gross Margin at 62.08% in Q3 2025, 63.48% in Q2 2025, and 55.63% in Q1 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,718.29 Bn | 3,585.54 Bn | 60.48 Bn | 67.20% |
| 2 | Oracle | 452.14 Bn | 420.24 Bn | - | - |
| 3 | Palantir Technologies | 418.25 Bn | 408.84 Bn | 1.64 Bn | 84.66% |
| 4 | Palo Alto Networks | 265.90 Bn | 262.79 Bn | 2.03 Bn | 67.55% |
| 5 | CrowdStrike Holdings | 217.15 Bn | 212.14 Bn | 1.10 Bn | 74.57% |
| 6 | Fortinet | 114.54 Bn | 110.47 Bn | 1.64 Bn | 80.24% |
| 7 | Cloudflare | 98.54 Bn | 94.37 Bn | 499.52 Mn | 71.76% |
| 8 | Synopsys | 75.44 Bn | 71.83 Bn | 1.80 Bn | 72.57% |
| 9 | Block | 49.56 Bn | 43.13 Bn | 3.17 Bn | 47.84% |
| 10 | Backblaze | 762.65 Mn | 711.27 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 62.08% |
| Jun 30, 2025 | 63.48% |
| Mar 31, 2025 | 55.63% |
| Dec 31, 2024 | 54.77% |
| Sep 30, 2024 | 54.62% |
| Jun 30, 2024 | 55.07% |
| Mar 31, 2024 | 52.76% |
| Dec 31, 2023 | 52.49% |
| Sep 30, 2023 | 46.46% |
| Jun 30, 2023 | 49.01% |
| Mar 31, 2023 | 46.89% |
| Dec 31, 2022 | 51.06% |
| Sep 30, 2022 | 50.86% |
| Jun 30, 2022 | 53.81% |
| Mar 31, 2022 | 50.33% |
| Dec 31, 2021 | 52.60% |
| Sep 30, 2021 | 50.81% |
| Jun 30, 2021 | 50.92% |
| Mar 31, 2021 | 48.86% |
| Dec 31, 2020 | 51.84% |