Backblaze (BLZE) Operating Margin (2020 - 2025)
Backblaze's (BLZE) quarterly Operating Margin came in at 8.94% in Q3 2025, up 2849.0% year-on-year from 0.3% in Q3 2024, and up 51.71% quarter-over-quarter from 18.51% in Q2 2025.
Backblaze (BLZE) Operating Margin (2020 - 2025) Analysis & Trends
Backblaze's Operating Margin history runs 6 years deep, the most recent figure standing at 8.94% for Q3 2025.
- On a quarterly basis, Operating Margin rose 2849.0% year-over-year to 8.94% in Q3 2025; TTM through Sep 2025 was 22.97%, a 1304.0% increase from a year earlier, with the FY2024 full-year figure at 36.27%, up 2049.0% from the prior year.
- Operating Margin rose to 8.94% in Q3 2025 per BLZE's latest filing, from 18.51% in the prior quarter.
- Across five years, Operating Margin topped out at 8.94% in Q3 2025 and bottomed at 71.81% in Q1 2023.
- The 5-year median for Operating Margin is 40.45% (2023), against an average of 40.15%.
- Across the five-year window, Operating Margin tumbled 4158 bps in 2022 and jumped 3674 bps in 2024, its largest moves.
- Year by year, Operating Margin stood at 40.53% in 2021, then sank by 46 bps to 59.08% in 2022, then soared by 32 bps to 40.45% in 2023, then decreased by 1 bps to 40.76% in 2024, then surged by 78 bps to 8.94% in 2025.
- Per Business Quant, the three latest BLZE Operating Margin figures stand at 8.94% (Q3 2025), 18.51% (Q2 2025), and 25.34% (Q1 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,834.76 Bn | 2,710.32 Bn | 56.06 Bn | 46.33% |
| 2 | PagSeguro Digital | 2,643.44 Bn | 2,643.44 Bn | 358.92 Mn | 75.95% |
| 3 | Oracle | 345.72 Bn | 314.37 Bn | - | 31.97% |
| 4 | Repay Holdings | 297.29 Bn | 297.14 Bn | - | - |
| 5 | Palantir Technologies | 295.33 Bn | 287.41 Bn | 1.42 Bn | 46.18% |
| 6 | Pagaya Technologies | 249.07 Bn | 249.08 Bn | 140.38 Mn | 25.16% |
| 7 | Palo Alto Networks | 228.92 Bn | 224.38 Bn | 1.91 Bn | 15.30% |
| 8 | CrowdStrike Holdings | 183.84 Bn | 180.79 Bn | 993.68 Mn | 1.06% |
| 9 | Fortinet | 111.23 Bn | 107.94 Bn | 1.49 Bn | 31.36% |
| 10 | Backblaze | 727.04 Mn | 675.66 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | -8.94% |
| Jun 30, 2025 | -18.51% |
| Mar 31, 2025 | -25.34% |
| Dec 31, 2024 | -40.76% |
| Sep 30, 2024 | -37.43% |
| Jun 30, 2024 | -31.35% |
| Mar 31, 2024 | -35.07% |
| Dec 31, 2023 | -40.45% |
| Sep 30, 2023 | -61.53% |
| Jun 30, 2023 | -56.59% |
| Mar 31, 2023 | -71.81% |
| Dec 31, 2022 | -59.08% |
| Sep 30, 2022 | -54.69% |
| Jun 30, 2022 | -52.30% |
| Mar 31, 2022 | -59.97% |
| Dec 31, 2021 | -40.53% |
| Sep 30, 2021 | -26.94% |
| Jun 30, 2021 | -23.12% |
| Mar 31, 2021 | -18.40% |
| Dec 31, 2020 | -17.03% |