BLZE Backblaze, Inc. - Fundamental Analysis
BEARISH
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BLZE Stock | Fundamental Analysis & Investment Insights
NASDAQ
Technology
Software - Infrastructure
Current Price
Live
$4.85
Analyst Target
$10.06
+107.4%
Upside
52W High
$10.86
52W Low
$3.94
At a glance
Key valuation, profitability, growth, and risk metrics.
Updated Jan 24, 2026
Market cap
$279.74M
P/E
N/A
ROE
-55.0%
Profit margin
-24.4%
Debt/Equity
0.77
Dividend yield
N/A
AI Analysis
Powered by advanced machine learning algorithms
Confidence Score
78%
Analysis Accuracy
BLZE exhibits weak financial health with a Piotroski F-Score of 3/9, indicating significant operational and profitability concerns. Despite improving gross margins and strong revenue growth, the company remains unprofitable with negative ROE, ROA, and profit margins, while the Altman Z-Score is unavailable, leaving bankruptcy risk unconfirmed but plausible. Valuation metrics are stretched relative to fundamentals, with a Forward P/E of 139.69 and no Graham Number, suggesting speculative pricing. Although recent earnings surprises are strong and analyst target implies upside, persistent cash flow and balance sheet data gaps raise transparency concerns.
Key Strengths
Strong revenue growth at 14.0% YoY, outpacing many peers in the infrastructure software space
High gross margin of 59.45%, indicating pricing power and scalable business model
Consistently beats earnings estimates, with 3 out of last 4 quarters beating by an average of 69.73%
Low debt/equity ratio of 0.77, which is manageable relative to sector average of 0.67
Analyst target price suggests 107% upside to $10.06, implying strong growth expectations
Key Risks
Piotroski F-Score of 3/9 signals weak financial health, particularly in profitability and leverage
Negative ROE (-55.03%) and ROA (-10.63%) indicate poor capital efficiency and ongoing losses
Profit margin of -24.37% shows deep unprofitability despite top-line growth
Missing Altman Z-Score prevents clear assessment of bankruptcy risk, a critical gap
Lack of cash flow, debt, and share count data limits transparency and increases investment risk
Performance Snowflake
Multi-dimensional analysis across 5 key categories
Overall
34
Weak
25
65
50
30
0
AI Verdict
High-risk speculative growth stock with concerning fundamentals
Key drivers: Low Piotroski score, Negative profitability metrics, Strong revenue growth, High earnings surprise beat rate, Missing financial data
Confidence
80%
Value
25/100
Ref P/E, PEG, Graham Number
Positives
- Price/Sales of 1.97 is moderate for a growth software company
Watchpoints
- Forward P/E of 139.69 is extremely high
- No Graham Number due to unprofitability
- Price/Book of 3.38 is elevated given negative ROE
Future
65/100
Ref Growth rates
Positives
- 14.0% YoY revenue growth is solid
- Analyst target implies strong future earnings inflection
Watchpoints
- Earnings growth undefined (N/A), with recent YoY EPS growth of +30% from negative base
- Q/Q EPS growth of -800% indicates severe deterioration
Past
50/100
Ref Historical trends
Positives
- Improving earnings surprise trend over last 4 quarters
- Revenue growth has been consistent
Watchpoints
- Long history of net losses across all reported quarters
- Profitability has not materially improved despite revenue growth
Health
30/100
Ref Altman Z-Score, Piotroski F-Score
Positives
- Current ratio of 1.10 and quick ratio of 0.96 indicate near-term liquidity is adequate
- Debt/equity of 0.77 is below sector average
Watchpoints
- Piotroski F-Score of 3/9 indicates weak financial health
- No Altman Z-Score available, increasing uncertainty
- ROIC unavailable, limiting capital efficiency analysis
Dividend
0/100
Ref Yield, Payout
Positives
No standout positives identified.
Watchpoints
- No dividend yield
- Dividend strength score of 0/100
- Payout ratio is 0% due to lack of profitability
Stock Price & Analyst Targets
Real-time price movements and analyst price targets
Current Price
$4.85
Analyst Target
$10.06
Upside/Downside
+107.4%
Multi-Horizon Performance vs Peers
Price momentum across 5Y → 1W horizons for BLZE and closest competitors.
Updated 2026-01-23
| Company | 5Y | 3Y | 1Y | 6M | 1M | 1W |
|---|---|---|---|---|---|---|
|
BLZE
Backblaze, Inc.
Primary
|
-75.6% | -36.3% | -23.4% | -11.0% | +1.0% | -0.2% |
|
AVNW
Aviat Networks, Inc.
Peer
|
+10.8% | -30.8% | +8.6% | -8.8% | -1.1% | -5.5% |
|
ALMU
Aeluma, Inc.
Peer
|
+323.1% | +298.1% | +140.8% | -4.1% | -11.8% | -1.4% |
|
ASUR
Asure Software, Inc.
Peer
|
+12.8% | -10.4% | -26.5% | -12.1% | +1.9% | -8.1% |
|
ATGL
Alpha Technology Group Limited
Peer
|
+323.2% | +323.2% | +9.3% | -9.3% | -15.3% | -13.6% |
Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.
Historical Performance Trends
Long-term financial metrics and growth patterns
Revenue & Net Income
Profit & Operating Margins
Return on Equity (ROE)
Quarterly Revenue Growth
Historical data shows last 12 quarters (3 years)
Valuation Metrics
Key valuation ratios and pricing indicators
P/E Ratio
N/A
Forward P/E
139.69
PEG Ratio
N/A
P/B Ratio
3.38
P/S Ratio
1.97
EV/Revenue
2.07
EV/EBITDA
-26.02
Market Cap
$279.74M
Profitability
Profit margins and return metrics
Profit Margin
-24.37%
Operating Margin
-8.94%
Gross Margin
59.45%
ROE
-55.03%
ROA
-10.63%
Growth
Revenue and earnings growth rates
Revenue Growth
+14.0%
Earnings Growth
N/A
Q/Q Revenue Growth
N/A
Q/Q Earnings Growth
N/A
Financial Health
Balance sheet strength and liquidity metrics
Debt/Equity
0.77
Moderate
Current Ratio
1.1
Good
Quick Ratio
0.96
Poor
Cash/Share
$0.87
Quarterly Earnings History
EPS performance vs analyst estimates
2026-02-24
$N/A
2025-11-06
$-0.07
+46.1% surprise
2025-08-07
$0.01
+119.0% surprise
2025-05-07
$-0.03
+44.0% surprise
Technology Sector Comparison
Comparing BLZE against 149 companies in the Technology sector
(10 bullish, 66 neutral, 73 bearish)
Return on Equity (ROE)
-55.03%
This Stock
vs
-8.13%
Sector Avg
+576.9%
(Excellent)
Profit Margin
-24.37%
This Stock
vs
-7.75%
Sector Avg
+214.3%
(Superior)
Debt to Equity
0.77
This Stock
vs
0.76
Sector Avg
+1.3%
(Higher)
Revenue Growth
14.0%
This Stock
vs
56.87%
Sector Avg
-75.4%
(Slower)
Current Ratio
1.1
This Stock
vs
3.33
Sector Avg
-67.1%
(Weaker)
Similar Companies
Peer comparison within the same industry
| Company | AI Rating | Market Cap | P/E | ROE | Profit Margin | Price | |
|---|---|---|---|---|---|---|---|
|
BLZE
Backblaze, Inc.
|
BEARISH | $279.74M | - | -55.0% | -24.4% | $4.85 | |
|
AVNW
Aviat Networks, Inc.
|
NEUTRAL | $271.64M | 20.75 | 5.2% | 3.0% | $21.16 | |
|
ALMU
Aeluma, Inc.
|
BEARISH | $267.31M | - | -13.8% | -52.5% | $14.81 | |
|
ASUR
Asure Software, Inc.
|
NEUTRAL | $255.15M | - | -8.7% | -12.9% | $9.19 | |
|
ATGL
Alpha Technology Group Limited
|
BEARISH | $306.56M | - | -12.5% | -65.2% | $18.62 |
Wall Street Analysts
Professional analyst ratings and price targets
Consensus
NONE
7 analysts
Needham
2025-11-06
Buy
Buy
Oppenheimer
2025-10-17
Outperform
Outperform
JMP Securities
2025-08-08
Market Outperform
Market Outperform
Needham
2025-08-07
Buy
Buy
Past News Coverage
Recent headlines mentioning BLZE from our newsroom.
Newest → oldest
No matching news yet.