Backblaze, Inc. (BLZE): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em constante evolução das soluções de backup em nuvem, a Backblaze, Inc. (BLZE) emergiu como uma plataforma que revoluciona a proteção de dados para indivíduos e empresas. Oferecendo ilimitado Backup em nuvem a uma taxa mensal fixa, esta empresa inovadora interrompeu os modelos de armazenamento tradicionais, fornecendo aos usuários uma maneira perfeita, acessível e segura de proteger seus ativos digitais. De profissionais criativos a trabalhadores remotos, o modelo de negócios exclusivo da Backblaze combina tecnologia de ponta, interfaces amigáveis ​​e estratégias abrangentes de gerenciamento de dados que a diferenciam no mercado competitivo de armazenamento em nuvem.

Backblaze, Inc. (BLZE) - Modelo de negócios: Parcerias -chave

Provedores de armazenamento em nuvem

BackBlaze mantém parcerias estratégicas com os principais provedores de infraestrutura em nuvem:

Provedor de nuvem	Detalhes da parceria	Valor anual de colaboração
Amazon Web Services (AWS)	Integração de infraestrutura de armazenamento em nuvem	US $ 3,7 milhões (estimado)
Plataforma do Google Cloud	Transferência de dados e otimização de armazenamento	US $ 2,1 milhões (estimado)

Enterprise Technology Partners

Backblaze colabora com empresas de tecnologia corporativa:

• Software Veeam
• Sinologia
• Western Digital
• Tecnologias Wasabi

Provedores de serviços gerenciados (MSPs)

As principais parcerias do MSP incluem:

MSP Partner	Escopo de serviço	Receita anual de parceria
Kaseya	Soluções de backup e recuperação	US $ 1,5 milhão
Connectwise	Integrações de gerenciamento de TI	US $ 1,2 milhão

Comunidades de software de código aberto

BackBlaze se envolve ativamente com comunidades de código aberto:

• Linux Foundation
• Projeto OpenZFS
• Comunidade Ceph

Fabricantes de hardware

Parcerias estratégicas de fabricação de hardware:

Fabricante	Foco em parceria	Valor anual de colaboração
Tecnologia Seagate	Compras de disco rígido	US $ 12,4 milhões
Western Digital	Fornecimento de hardware de armazenamento	US $ 9,7 milhões

Backblaze, Inc. (Blze) - Modelo de Negócios: Atividades -chave

Desenvolvimento de software de backup em nuvem

A Backblaze investiu US $ 2,7 milhões em despesas de pesquisa e desenvolvimento em 2022. A empresa mantém uma equipe dedicada de engenharia de software focada na melhoria contínua das soluções de backup em nuvem.

Métricas de desenvolvimento de software	2022 dados
Despesas de P&D	US $ 2,7 milhões
Engenheiros de software	48 funcionários em tempo integral
Lançamentos anuais de software	3-4 Atualizações principais

Gerenciamento de infraestrutura de armazenamento de dados

O BackBlaze opera vários data centers com uma capacidade total de armazenamento de 2,5 exabytes a partir de 2023.

• Total de infraestrutura de armazenamento de dados espalhados por 3 locais geográficos
• Gerencia mais de 250.000 discos rígidos
• Custo anual de manutenção da infraestrutura: US $ 4,1 milhões

Inovação contínua de produtos

A Backblaze lançou a plataforma de armazenamento em nuvem backblaze B2, gerando US $ 39,4 milhões em receita em 2022.

Métricas de inovação	2022 dados
Novos lançamentos de produtos	2 principais aprimoramentos de plataforma
Receita de armazenamento em nuvem B2	US $ 39,4 milhões

Suporte e serviço ao cliente

O BackBlaze mantém uma equipe de suporte ao cliente de 35 funcionários em período integral com um tempo médio de resposta de 2,3 horas.

• Disponibilidade de suporte ao cliente 24/7
• Vários canais de suporte, incluindo email, bate -papo e telefone
• Classificação média de satisfação do cliente: 4.6/5

Pesquisa de segurança e proteção de dados

A empresa alocou US $ 1,2 milhão para a pesquisa e implementação de segurança cibernética em 2022.

Investimento em segurança	2022 dados
Orçamento de pesquisa de segurança	US $ 1,2 milhão
Pessoal de segurança cibernética	12 profissionais dedicados
Auditorias anuais de segurança	2 avaliações abrangentes

Backblaze, Inc. (Blze) - Modelo de Negócios: Recursos -Principais

Infraestrutura de armazenamento em nuvem

O BackBlaze opera vários data centers com as seguintes especificações de infraestrutura:

Capacidade total de armazenamento	Exabytes de armazenamento em nuvem
Número de data centers	Vários locais nos Estados Unidos
Configuração do servidor	Pods de armazenamento personalizado

Talento de engenharia de software

A força de trabalho de engenharia de Backblaze inclui:

• Aproximadamente 150-200 funcionários totais
• Maioria concentrada em funções de engenharia de software
• Localizado principalmente em San Mateo, Califórnia

Tecnologia proprietária de backup e armazenamento

Os principais recursos tecnológicos incluem:

• Arquitetura de software de backup exclusiva
• Plataforma de backup e armazenamento em nuvem
• Plataforma de armazenamento em nuvem B2

Rede de data center

Localização do data center primário	Sacramento, Califórnia
Estratégia de redundância	Múltiplos locais geográficos
Largura de banda de rede	Conectividade da Internet em alta velocidade

Propriedade intelectual e patentes

Portfólio de patentes cobrindo tecnologias exclusivas de armazenamento em nuvem e metodologias de backup.

• Várias patentes registradas relacionadas ao armazenamento de dados
• Projeto de pods de armazenamento proprietário
• Algoritmos de backup em nuvem exclusivos

Backblaze, Inc. (Blze) - Modelo de Negócios: Proposições de Valor

Soluções simples e acessíveis de backup em nuvem

A BackBlaze oferece serviços de backup em nuvem ao preço de US $ 7 por mês ou US $ 70 anualmente por computador. A partir de 2024, a empresa possui mais de 1,5 petabytes de dados de clientes armazenados em sua infraestrutura em nuvem.

Nível de preço	Custo mensal	Custo anual	Armazenamento incluído
Backup pessoal	$7	$70	Ilimitado

Backup de computador ilimitado para taxa mensal fixa

Backblaze fornece armazenamento de backup ilimitado sem cobranças adicionais pelo tamanho ou quantidade do arquivo.

• Sem restrições de tamanho de arquivo
• Sem taxas adicionais para grandes volumes de dados
• Backup contínuo e automático

Interface de software amigável

O software suporta plataformas Windows e MacOS com uma taxa de satisfação da interface do usuário de 99,9% relatada em 2023 pesquisas de clientes.

Restauração de dados rápida e segura

As velocidades de restauração têm em média 10-15 Mbps, com criptografia AES de 256 bits protegendo os dados do usuário. Em 2023, o BackBlaze processou mais de 1,2 milhão de solicitações de restauração.

Método de restauração	Velocidade média	Nível de segurança
Download online	10-15 Mbps	Criptografia AES de 256 bits
Disco rígido físico	Até 200 Mbps	Envio seguro

Compatibilidade entre plataformas

Suporta backup para Windows, MacOS e dispositivos móveis, com 87% dos usuários utilizando soluções de backup com várias plataformas em 2023.

• Backup de desktop do Windows
• Backup de desktop do MacOS
• Integração de dispositivos móveis

Backblaze, Inc. (Blze) - Modelo de Negócios: Relacionamentos do Cliente

Plataforma online de autoatendimento

Backblaze oferece a plataforma de backup online totalmente automatizada Com as seguintes métricas principais:

Métrica da plataforma	Valor
Contas de usuário total	Mais de 500.000 usuários ativos
Armazenamento mensal médio	250 petabytes de dados do cliente
Tempo de atividade da plataforma online	99,9% de confiabilidade

Suporte ao cliente automatizado

Os canais de suporte ao cliente incluem:

• Sistema de ingressos automatizados 24/7
• Suporte de bate-papo movido a IA
• Tempo de resposta de suporte por e -mail: menos de 24 horas

Fóruns da comunidade e base de conhecimento

Recurso da comunidade	Métricas
Artigos da base de conhecimento online	Mais de 200 guias abrangentes
Usuários do fórum da comunidade	Aproximadamente 75.000 membros registrados

Ofertas de teste gratuitas

Backblaze fornece:

• 15 dias de teste gratuito para backup pessoal
• Teste gratuito de 30 dias para soluções de backup de negócios
• Nenhum cartão de crédito necessário para ativação do estudo

Assistência personalizada de integração

Serviço de integração	Detalhes
Consultas de configuração personalizadas	Disponível para clientes corporativos
Canais de suporte a integração	Email, telefone e chat ao vivo

Backblaze, Inc. (Blze) - Modelo de Negócios: Canais

Site de vendas on -line direto

A BackBlaze opera seu canal de vendas primário através do Backblaze.com, que processou US $ 193,4 milhões em receita para o ano fiscal de 2023. A plataforma on -line direta suporta 100% da aquisição de clientes e gerenciamento de assinaturas.

Métrica de vendas on -line	2023 dados
Total de visitantes do site	7,2 milhões
Taxa de conversão	3.4%
Custo médio de aquisição de clientes	$8.67

Campanhas de marketing digital

A BackBlaze aloca US $ 5,2 milhões anualmente para os esforços de marketing digital em várias plataformas.

• Gastam os anúncios do Google: US $ 2,1 milhões
• Publicidade de mídia social: US $ 1,3 milhão
• Marketing de email direcionado: US $ 850.000

Plataformas de download de software

Backblaze distribui o software por meio de várias plataformas digitais com 425.000 downloads mensais:

Plataforma	Downloads mensais
Site oficial	215,000
Apple App Store	112,000
Sites de download de terceiros	98,000

Programas de referência

O programa de referência gera 17,6% do total de novas aquisições de clientes com um valor médio de referência de US $ 24 por indicação bem -sucedida.

Sites de revisão de tecnologia

O BackBlaze protege a cobertura em 42 plataformas de revisão de tecnologia, gerando 22.500 aquisições diretas de clientes em 2023.

Revise a categoria da plataforma	Aquisições de clientes
Blogs de tecnologia	12,300
Sites de revisão profissional	6,700
Canais de tecnologia do YouTube	3,500

Backblaze, Inc. (BLZE) - Modelo de negócios: segmentos de clientes

Usuários individuais de computador

A partir de 2024, o backblaze tem como alvo usuários de computador individuais com soluções de backup pessoais. A empresa atende aproximadamente 500.000 usuários individuais globalmente.

Características do segmento de usuário	Percentagem
Usuários de Mac	42%
Usuários do Windows	58%

Pequenas e médias empresas

O BackBlaze fornece soluções de backup em nuvem para pequenas e médias empresas, atendendo a aproximadamente 75.000 clientes comerciais em 2024.

• Gastes anuais médios por empresa cliente: US $ 599
• Indústrias primárias servidas:
  • Tecnologia
  • Serviços criativos
  • Serviços profissionais

Profissionais criativos

A plataforma tem como alvo especificamente profissionais criativos com soluções de backup especializadas.

Segmento profissional criativo	Contagem de usuários
Fotógrafos	38,000
Videógrafos	22,000
Designers gráficos	15,000

Trabalhadores remotos

Com o surgimento do trabalho remoto, Backblaze atende a aproximadamente 65.000 clientes de trabalhadores remotos em 2024.

• Assinatura mensal média: US $ 7,50
• Principais segmentos de trabalhadores remotos:
  • Freelancers
  • Nômades digitais
  • Funcionários corporativos remotos

Entusiastas da tecnologia

Backblaze atrai entusiastas da tecnologia com recursos avançados de armazenamento em nuvem e backup.

Métricas de entusiasta da tecnologia	Data Point
Usuários de entusiastas de tecnologia total	45,000
Armazenamento médio usado	3.2 TB

Backblaze, Inc. (Blze) - Modelo de Negócios: Estrutura de Custo

Despesas de infraestrutura em nuvem

A partir de 2024, as despesas de infraestrutura em nuvem da Backblaze são estimadas em US $ 23,4 milhões anualmente. A empresa opera vários data centers com a seguinte infraestrutura de quebra de custo:

Componente de infraestrutura	Custo anual
Hardware do servidor	US $ 8,7 milhões
Equipamento de rede	US $ 4,2 milhões
Data Center Colocation	US $ 6,5 milhões
Poder e resfriamento	US $ 4 milhões

Custos de desenvolvimento de software

As despesas de desenvolvimento de software para backblaze totalizam US $ 12,6 milhões anualmente, com a seguinte alocação:

• Salários de engenharia: US $ 9,3 milhões
• Ferramentas e licenças de desenvolvimento: US $ 1,8 milhão
• Infraestrutura de teste de software: US $ 1,5 milhão

Marketing de aquisição de clientes

As despesas de marketing para aquisição de clientes em 2024 são projetadas em US $ 5,2 milhões, distribuídas:

Canal de marketing	Gasto anual
Publicidade digital	US $ 2,7 milhões
Marketing de conteúdo	US $ 1,3 milhão
Programas de afiliados	US $ 1,2 milhão

Operações de suporte técnico

Os custos de suporte técnico totalizam US $ 4,8 milhões anualmente:

• Salários da equipe de suporte: US $ 3,5 milhões
• Software e ferramentas de suporte: US $ 0,9 milhão
• Treinamento e desenvolvimento: US $ 0,4 milhão

Investimentos de pesquisa e desenvolvimento

Investimentos de P&D para backblaze em 2024 Total US $ 7,3 milhões, alocados da seguinte forma:

Área de foco em P&D	Investimento
Tecnologia de armazenamento em nuvem	US $ 3,6 milhões
Aprendizado de máquina e IA	US $ 2,1 milhões
Inovações de segurança de dados	US $ 1,6 milhão

Backblaze, Inc. (BLZE) - Modelo de negócios: fluxos de receita

Planos de assinatura mensais

O BackBlaze oferece backup de computador pessoal a US $ 7 por mês por computador, com a seguinte estrutura de preços:

Tipo de assinatura	Preço mensal	Preço anual
Backup de computador pessoal	$7	$70
Histórico de versão estendida	US $ 3 adicionais	US $ 30 adicionais

Taxas anuais de serviço de backup

As opções anuais de assinatura fornecem economia de custos em comparação com os planos mensais:

• Backup de computador pessoal: US $ 70 por ano (economizando US $ 14 em comparação com mensalmente)
• Histórico estendido da versão: US $ 30 adicionais por ano

Serviço de armazenamento em nuvem B2

Preços de armazenamento em nuvem B2 B2:

Camada de armazenamento	Preço por GB/mês	Baixar custo
Armazenamento padrão	$0.005	US $ 0,01 por GB
Cobrança mensal mínima	$5	N / D

Soluções de backup corporativo

Os preços da empresa são citados sob medida com base em necessidades organizacionais específicas, sem taxas padrão divulgadas publicamente.

Preços profissionais e pessoais

Nível	Características	Preço
Pessoal	Dados ilimitados, histórico de versão de 30 dias	US $ 7/mês por computador
Profissional	Dados ilimitados, histórico de versões de 1 ano	US $ 10/mês por computador

Backblaze, Inc. (BLZE) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Backblaze, Inc. over the established hyperscalers. It's about clear economics and performance that lets you build without fear of surprise bills.

Dramatically lower Total Cost of Ownership (TCO), up to 3.2x savings over hyperscalers

The independent analysis by Enterprise Strategy Group (ESG) validated significant cost advantages for Backblaze B2 Cloud Storage compared to legacy providers. This isn't just a small discount; it's a structural difference in TCO.

The key savings points from that validation include:

• Up to 3.2x lower Total Cost of Ownership (TCO).
• Up to 56% lower monthly storage cost.
• Up to 100% lower cost of downloads and transactions.
• Up to 92% less time and effort required to manage data.
• Up to 91% savings on cloud-to-cloud (C2C) migration costs.

Predictable pricing with free egress up to 3x stored data capacity

Backblaze, Inc. offers transparent pricing, avoiding the complicated tiers that bog down budgeting. For the standard pay-as-you-go model, you see a rate of $6/TB/month, with the first 10GB of storage always free. The predictability is heavily supported by the egress policy.

Here's a quick look at how the pricing structure compares on key elements:

Feature	Backblaze B2 Pay-As-You-Go	B2 Reserve (Capacity Bundle Example)	Hyperscaler Comparison Point
Storage Price	$6/TB/month	Starts at $1,560/20TB/year	Higher base rate
Free Egress Allowance	Up to 3x average monthly storage	Unlimited free egress	Egress often a major cost driver
Minimum Storage Duration	None	None on Pay-As-You-Go; 1-5 years on Reserve	Often has minimum duration fees
Transaction Fees (API calls)	Included up to 3x free egress threshold	Included	Often charged separately

Egress that goes above that 3x average is priced at $0.01/GB. For those with large, consistent needs, B2 Reserve bundles start at 20TB for terms of one to five years, which includes unlimited free egress.

High-performance, S3-compatible object storage for application development

You get the industry standard compatibility you need to build applications without vendor lock-in. Backblaze B2 Cloud Storage claims 100% the performance of S3 at 1/5 the cost. The Q3 2025 Performance Stats report showed that for sustained throughput, Backblaze B2 won 6 out of 8 categories when tested against AWS S3, Cloudflare R2, and Wasabi.

For small file workloads, which often stress latency, the performance is particularly strong. For instance, in multi-threaded upload benchmarking for 256KiB files, Backblaze B2 achieved a sustained throughput of 163.80MiB/s.

Simple, reliable, unlimited Computer Backup for individuals and SMBs

This is the original offering, focused on simplicity for endpoints. In Q3 2025, Computer Backup revenue held steady at $16.5 million, showing flat year-over-year performance. The service maintains a healthy customer base with a gross customer retention rate of 90% in Q3 2025.

B2 Overdrive: High-throughput storage for demanding AI/ML and HPC workloads

For the most data-intensive workflows, B2 Overdrive was engineered for massive throughput. Pricing for this high-performance tier starts at $15 per TB/month. This service is designed to deliver sustained throughput up to a terabit per second, which is key for processing exabyte-scale datasets.

A major differentiator here is the egress policy: B2 Overdrive includes unlimited free egress to any destination, which directly addresses the prohibitive costs associated with moving large AI/ML training sets. Backblaze, Inc. signed its first six-figure B2 Overdrive customer in early Q3 2025, validating its product-market fit for these demanding use cases.

Finance: draft 13-week cash view by Friday.

Backblaze, Inc. (BLZE) - Canvas Business Model: Customer Relationships

You're looking at how Backblaze, Inc. (BLZE) connects with its diverse customer base, which spans from individual users to large enterprise AI workloads. The approach isn't one-size-fits-all; it's segmented based on the product and the customer's scale.

For the Computer Backup service and smaller B2 Cloud Storage accounts, the relationship is primarily a self-serve, high-volume transactional model. This is the engine for broad adoption, relying on ease of use and low friction to bring customers onto the platform. This segment contributed $16.5 million in revenue in Q3 2025. The company is focused on scaling this self-serve motion, making it more frictionless specifically for data-heavy AI use cases as part of its Phase 2 go-to-market transformation.

Moving upmarket to mid-market and enterprise B2 customers, the relationship shifts to a dedicated Direct Sales and Field Enablement structure. This is necessary for closing the larger deals that require more consultative selling, which management noted sometimes face longer execution cycles due to committee and compliance processes. These larger customers are driving significant expansion, evidenced by the company winning a seven-figure TCV (Total Contract Value) expansion deal with an existing AI-powered video surveillance customer in Q3 2025. AI-related storage now accounts for approximately 25% of new business.

The Partner-led sales and customer success motion is crucial for Channel and Managed Service Provider (MSP) engagements. This leverages third parties to reach a wider audience and embed the service within other offerings. The launch of the Enterprise Web Console, which simplifies B2 Cloud Storage management for MSPs and includes role-based access controls, directly supports this channel relationship by providing enterprise-grade management tools.

Overall customer loyalty is strong, as reflected in the retention figures. The high gross customer retention rate of 91% in Q3 2025 shows that the core value proposition is resonating and keeping customers engaged. This is a key metric that management points to as validation of their focus on performance, predictable pricing, and ease of use.

Here's a breakdown of the key retention and revenue metrics from Q3 2025:

Metric	Computer Backup	B2 Cloud Storage	Total Business
Gross Customer Retention Rate (GCR)	90%	89%	91%
Net Revenue Retention Rate (NRR)	101%	110%	106%

The difference in retention and expansion across segments highlights the different relationship needs:

• The 110% B2 NRR shows strong expansion from existing cloud storage customers, especially those in AI workloads.
• The Computer Backup segment revenue was flat at $16.5 million in Q3 2025, with an NRR of 101%.
• The B2 Cloud Storage segment grew revenue by 28% year-over-year to $20.7 million in Q3 2025.
• The company serves over 500,000 customers globally across 175 countries.

Finance: draft 13-week cash view by Friday.

Backblaze, Inc. (BLZE) - Canvas Business Model: Channels

You're looking at how Backblaze, Inc. gets its storage and backup services into the hands of customers as of late 2025. It's a mix of high-volume, low-touch self-service and targeted, high-value direct sales, especially for the B2 Cloud Storage business.

The direct website and self-serve portal is the engine for the Computer Backup business and smaller B2 users. As of the third quarter of 2025, Backblaze, Inc. served a total of 507,647 customers, with 417,845 of those on Computer Backup, which is largely a self-serve product. The B2 Cloud Storage segment, which is heavily reliant on developer adoption and self-serve sign-ups, had 107,616 customers in Q3 2025. This channel drives the majority of the Computer Backup revenue, which was $16.5 million in Q3 2025, remaining flat year-over-year.

For the B2 Cloud Storage, which generated $20.7 million in revenue in Q3 2025, the channel strategy broadens significantly. While self-serve is key, the company is actively scaling its Global network of Channel Partners and Managed Service Providers (MSPs). This is part of the go-to-market transformation aimed at increasing efficiency and reach beyond the direct developer relationship. The focus here is on partners who can embed Backblaze, Inc.'s storage into their managed offerings.

The Independent Software Vendors (ISVs) integrating B2 via API (Powered By Backblaze) represent a crucial, often indirect, channel, especially in the AI space. This strategy positions Backblaze, Inc. as underlying infrastructure. For example, in Q1 2025, the company noted deepening a strategic AI partnership where PureNodal, a GPU infrastructure provider, leverages Powered By Backblaze to support the AI ecosystem. AI-related storage now accounts for approximately 25% of new business as of Q3 2025.

The direct sales team is specifically tasked with capturing the larger, more complex deals, primarily within B2 Cloud Storage. This team focuses on six- and seven-figure B2 opportunities. The success of this upmarket push is evident: customers contributing over $50,000 in Annual Recurring Revenue (ARR) grew 30% year-over-year as of Q2 2025. The team is closing significant contracts; in Q3 2025, management highlighted recent wins including a new 6-figure deal with an AI start-up, a 7-figure Total Contract Value (TCV) deal in the surveillance space, and another 6-figure white label win with a media app developer. They also signed their first six-figure B2 Overdrive customer in early Q3 2025, just two months after that product launched.

Here's a quick look at the revenue segmentation from Q3 2025, which shows the relative weight of the two main product lines that flow through these channels:

Metric	Amount (Q3 2025)	Year-over-Year Growth (Q3 2025)
Total Revenue	$37.2 million	14%
B2 Cloud Storage Revenue	$20.7 million	28%
Computer Backup Revenue	$16.5 million	Flat
B2 Cloud Storage ARR	$81.8 million	26%

The direct sales focus is clearly driving the growth in the B2 segment, which is the primary focus for landing those larger deals. The self-serve and partner channels likely feed the long tail of the 107,616 B2 customers.

The company is also seeing success in attracting larger customers through its technical positioning, which is a direct result of the sales and marketing channel alignment. The focus on AI workloads is a key driver for the direct sales channel:

• AI-related storage accounted for approximately 25% of new business in Q3 2025.
• The company signed its first six-figure B2 Overdrive customer in early Q3 2025.
• Customers contributing over $50,000 in ARR grew 30% year-over-year in Q2 2025.
• A 7-figure TCV deal was closed in the surveillance space in Q3 2025.

Finance: draft 13-week cash view by Friday.

Backblaze, Inc. (BLZE) - Canvas Business Model: Customer Segments

You're looking at the customer base for Backblaze, Inc. as of late 2025. The business clearly splits its focus between its established Computer Backup service and the rapidly growing B2 Cloud Storage platform, which is seeing massive tailwinds from AI workloads.

The Individual Users and Small Businesses segment, served by Computer Backup, is showing signs of maturity, defintely. For the third quarter of 2025, the revenue from this segment was precisely $16.5 million, which was flat year-over-year. This segment's gross customer retention rate held steady at 90% in Q3 2025.

The more dynamic part of the customer base is within B2 Cloud Storage, which serves Mid-market and Enterprise customers needing backup, archive, and application data hosting. In Q3 2025, B2 Cloud Storage revenue hit $20.7 million, marking a strong 28% year-over-year growth. The Annual Recurring Revenue (ARR) for B2 Cloud Storage reached $81.8 million as of Q3 2025.

Here's a quick comparison of the two primary revenue-generating segments based on the latest reported quarter, Q3 2025:

Metric	Computer Backup	B2 Cloud Storage
Q3 2025 Revenue	$16.5 million	$20.7 million
YoY Revenue Growth (Q3 2025)	Flat	28%
Q3 2025 Gross Customer Retention Rate	90%	89%

The High-growth AI/ML, Media & Entertainment, and HPC companies are a critical focus for B2 Cloud Storage, especially with the introduction of B2 Overdrive. This focus is driving significant data consumption. As of the Q3 2025 reporting period, the number of AI customers grew by 70% year-over-year, and the data stored by these AI customers exploded, growing 40 times year-over-year. Backblaze, Inc. also signed its first six-figure B2 Overdrive customer in early Q3 2025, just two months after the product launched.

The company is successfully moving upmarket, which is visible in the growth of its largest accounts. You can see this trend in the statistics for the larger B2 customers:

• Customers contributing over $50,000 in Annual Recurring Revenue (ARR) grew 30% year-over-year in Q2 2025.
• There were 150 customers with $50k+ ARR as of Q2 2025, representing a 30% year-on-year increase.
• Backblaze, Inc. secured a deal for over $1 million in Annual Contract Value (ACV) in Q4 2024.
• A second AI company upgraded its contract to a 7-figure level in Q2 2025.

Backblaze, Inc. (BLZE) - Canvas Business Model: Cost Structure

You're looking at the hard costs driving Backblaze, Inc.'s storage cloud. The structure centers on massive infrastructure investment balanced by improving operational leverage, which you see clearly in the latest quarterly results.

Capital expenditure (CapEx) on Storage Pods and data center infrastructure is a major outlay. For the third quarter ended September 30, 2025, Capital Expenditures totaled ($10.319 million). This spending supports the platform managing approximately 5 billion gigabytes of data for over 500,000 customers across more than 175 countries. This investment is critical for scaling capacity, especially with the launch of B2 Overdrive for data-intensive workloads.

The significant operating costs for network bandwidth and power consumption are embedded within the Cost of Revenue, which Backblaze, Inc. is managing to drive better profitability. The company's focus on cost efficiencies, including a Zero-Based-Budgeting program, is designed to directly lower these variable costs relative to revenue growth.

Regarding Sales and Marketing (S&M) investment to drive B2 growth and go-to-market transformation, the company has been actively executing this transformation, including hiring new key senior sales leadership to accelerate growth. While a specific S&M dollar amount for Q3 2025 isn't isolated here, the strategic shift is clear, aiming to capture more of the B2 Cloud Storage market, which grew revenue by 28% year-over-year in the quarter.

Personnel costs for engineering and customer support are a fixed component of the operating structure, supporting the platform that serves both B2 Cloud Storage and Computer Backup. The overall operational leverage improvement, evidenced by the margin expansion, suggests these costs are being managed effectively against the revenue base. The company is working toward being adjusted free-cash-flow positive in Q4 2025.

The success of these cost management efforts is reflected in achieving a strong Q3 2025 Gross Margin of 62%. This represents a significant expansion of approximately 700 basis points year-over-year from the 55% margin reported in Q3 2024. Gross profit for Q3 2025 reached $23.1 million on total revenue of $37.2 million.

Here's a quick look at the key financial results that define the cost structure's impact for the third quarter ended September 30, 2025:

Metric	Amount (Q3 2025)
Total Revenue	$37.2 million
Gross Profit	$23.1 million
Gross Margin	62%
B2 Cloud Storage Revenue	$20.7 million
Computer Backup Revenue	$16.5 million
Adjusted EBITDA	$8.4 million
Capital Expenditures (Quarter)	($10.319 million)

The cost structure is also reflected in the cash generation metrics:

• Cash flow from operations for the nine months ended September 30, 2025, was $14.2 million.
• This compares to $10.3 million in cash flow from operations for the same nine-month period in 2024.
• B2 Cloud Storage Annual Recurring Revenue (ARR) was $81.8 million, up 26% year-over-year.
• Total Annual Recurring Revenue (ARR) was $147.2 million, a 13% increase year-over-year.

The cost of serving the B2 segment, which is the primary growth driver, is being managed to maintain competitive pricing while improving gross margin. The B2 Cloud Storage gross customer retention rate was 89% in Q3 2025.

Finance: draft 13-week cash view by Friday.

Backblaze, Inc. (BLZE) - Canvas Business Model: Revenue Streams

You're looking at the core ways Backblaze, Inc. takes in cash, and right now, it's a tale of two segments. The business model clearly separates the steady, predictable income from the faster-growing, usage-based cloud services.

Subscription revenue from Computer Backup remains a stable base, though it isn't driving top-line acceleration. For the third quarter of 2025, this segment was flat year-over-year at exactly $16.5 million. This is the annuity part of the business, providing a reliable floor.

Usage-based revenue from B2 Cloud Storage is the clear growth engine. This segment saw significant momentum, climbing 28% year-over-year to bring in $20.7 million in Q3 2025. The company is actively pushing this, noting that AI-related storage now accounts for approximately 25% of new business.

Here's a quick look at how the Q3 2025 revenue broke down:

Revenue Stream	Q3 2025 Revenue (USD)	Year-over-Year Growth
B2 Cloud Storage	$20.7 million	28%
Computer Backup	$16.5 million	Flat
Total Revenue	$37.2 million	14%

The Annual Recurring Revenue (ARR) figures from the end of Q3 2025 further illustrate this dynamic. Total ARR stood at $147.2 million, up 13% year-over-year. The B2 Cloud Storage ARR was $81.8 million (up 26% YoY), while Computer Backup ARR was $65.4 million (flat YoY).

For larger enterprise customers, Backblaze, Inc. offers reserved capacity contracts, known as B2 Reserve, to secure predictable pricing for significant storage commitments. While specific dollar amounts for B2 Reserve revenue aren't explicitly broken out in the latest reports, the focus on moving upmarket is clear, evidenced by securing a new seven-figure expansion deal with an existing customer.

Regarding data download (egress) fees, the strategy inherently minimizes this as a major revenue driver. Management specifically highlighted that Backblaze, Inc. enables AI companies to avoid the high egress costs typically associated with larger cloud providers. This suggests that while egress fees exist beyond any free allowance, they are not a primary, emphasized revenue stream due to the competitive positioning.

Looking ahead, the full-year 2025 revenue is projected to be narrowed to a range between $145.4 million and $146.0 million. This implies the fourth quarter will need to land between $37.3 million and $37.9 million to meet that full-year target.

You should track the following key metrics as they relate to revenue generation:

• B2 Cloud Storage ARR growth rate of 26% as of Q3 2025.
• Computer Backup Net Revenue Retention Rate (NRR) at 101% in Q3 2025.
• B2 Cloud Storage NRR at 110% in Q3 2025.
• Gross customer retention rate across the business was 91% in Q3 2025.

Finance: draft 13-week cash view by Friday.