Subscription-Based Arrangements was Backblaze’s largest product and service line in fiscal 2024, bringing in $65.66M of $127.63M (51%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Subscription-Based Arrangements | — | $51.43M | $55.68M | $65.66M | |
| Subscription-Based Arrangements (Computer Backup) | $44.12M | — | — | — | |
| Consumption-Based Arrangements | — | $33.04M | $45.77M | $61.46M | |
| Consumption-Based Arrangements (B2 Cloud Storage) | $22.63M | — | — | — | |
| Physical Media (Point In Time) | — | $683.00K | $569.00K | $511.00K | |
| Physical Media | $730.00K | — | — | — | |
| Total | $67.48M | $85.16M | $102.02M | $127.63M |
Backblaze brought in $127.63M from its three product and service lines in fiscal 2024, the year ended December 31, 2024. That was up 25.1% from $102.02M in fiscal 2023. Subscription-Based Arrangements was the largest at $65.66M (51.4%), ahead of Consumption-Based Arrangements at $61.46M (48.2%) and Physical Media (Point In Time) at $511.00K (0.4%).
Compared with fiscal 2023, Consumption-Based Arrangements grew 34.3% to $61.46M and Subscription-Based Arrangements grew 17.9% to $65.66M.
Backblaze began breaking out Subscription-Based Arrangements in fiscal 2022, Consumption-Based Arrangements in fiscal 2022 and Physical Media (Point In Time) in fiscal 2022. Backblaze stopped reporting Subscription-Based Arrangements (Computer Backup) ($44.12M in fiscal 2021), Consumption-Based Arrangements (B2 Cloud Storage) ($22.63M in fiscal 2021) and Physical Media ($730.00K in fiscal 2021) as separate lines.
United States was Backblaze’s largest region in fiscal 2024, bringing in $94.32M of $127.63M (74%).
| Geography | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| United States | $48.35M | $60.95M | $73.26M | $94.32M | |
| Other | $12.01M | $15.23M | $18.27M | $20.85M | |
| United Kingdom | $3.69M | $4.65M | $5.46M | $6.70M | |
| Canada | $3.44M | $4.32M | $5.03M | $5.76M | |
| Total | $67.48M | $85.16M | $102.02M | $127.63M |
Backblaze brought in $127.63M from its four regions in fiscal 2024, the year ended December 31, 2024. That was up 25.1% from $102.02M in fiscal 2023. United States was the largest at $94.32M (73.9%), ahead of Other at $20.85M (16.3%) and United Kingdom at $6.70M (5.3%). The remaining region, Canada, brought in $5.76M.
Compared with fiscal 2023, United States grew fastest, up 28.7% to $94.32M. Every region above 2% of revenue grew. From fiscal 2021 to 2024, combined revenue from these regions grew from $67.48M to $127.63M, a compound annual growth rate of 23.7%. United States' share of the total rose from 71.6% to 73.9%.
Backblaze (BLZE) reports its revenue by product and service and by geography. In fiscal 2024, Subscription-Based Arrangements was its largest product and service line, bringing in $65.66M (51.4% of the total), followed by Consumption-Based Arrangements at $61.46M (48.2%).
Subscription-Based Arrangements was Backblaze's largest product and service line in fiscal 2024, bringing in $65.66M, or 51.4% of the $127.63M total across its three product and service lines.
United States was Backblaze's largest region in fiscal 2024, bringing in $94.32M, or 73.9% of the $127.63M total across its four regions.
Consumption-Based Arrangements grew faster than Subscription-Based Arrangements in fiscal 2024, up 34.3% from $45.77M to $61.46M. Subscription-Based Arrangements grew 17.9% to $65.66M.
Every figure comes from Backblaze's annual financial filings, as reported. Each line keeps the name Backblaze gives it, and years follow its fiscal calendar.
Backblaze's revenue by product and service goes back to fiscal 2020, with figures through fiscal 2024. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.