Backblaze Inc
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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FY2024 · Filed Mar 11, 2025
BLZE$7.990.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
BACKBLAZE INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| For the YearsEnded December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(48,531) | $(59,713) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Net accretion of discount on investment securities and net realized investment gains | 64 | 417 |
| Noncash lease expense on operating leases | 2,727 | 2,350 |
| Depreciation and amortization | 28,328 | 24,912 |
| Impairment loss on right-of-use assets | 898 | — |
| Stock-based compensation | 28,628 | 25,177 |
| Impairment of capitalized internal-use software | — | 232 |
| Gain on disposal of property and equipment | (154) | (292) |
| Other, net | 345 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,031) | 56 |
| Prepaid expenses and other current assets | (741) | (445) |
| Other assets | (1,346) | (389) |
| Accounts payable | (547) | (295) |
| Accrued expenses and other current liabilities | 948 | (1,422) |
| Deferred revenue | 5,505 | 4,526 |
| Operating lease liabilities | (2,588) | (2,464) |
| Net cash provided by (used in) operating activities | 12,505 | (7,350) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of marketable securities | (38,097) | (26,358) |
| Maturities of marketable securities | 45,693 | 67,874 |
| Proceeds from disposal of property and equipment | 455 | 369 |
| Purchases of property and equipment | (1,711) | (5,512) |
| Capitalized internal-use software costs | (12,471) | (14,716) |
| Net cash (used in) provided by investing activities | (6,131) | 21,657 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Principal payments on finance lease and lease financing obligations | (19,503) | (19,510) |
| Proceeds from issuance of common stock upon public offering, net of underwriting discounts and commission and other offering costs | 37,434 | — |
| Payments of offering costs | (383) | — |
| Proceeds from debt facility | 554 | 4,273 |
| Repayment of debt facility | (4,682) | (4,450) |
| Proceeds from insurance premium financing | — | 893 |
| Principal payments on insurance premium financing | (893) | (1,545) |
| Proceeds from lease financing obligations | — | 4,450 |
| Proceeds from exercises of stock options | 7,477 | 4,708 |
| Proceeds from ESPP | 2,768 | 2,339 |
| Net cash provided by (used in) financing activities | 22,772 | (8,842) |
| Net increase in cash | 29,146 | 5,465 |
| Cash and cash equivalents and restricted cash, at beginning of period | 16,630 | 11,165 |
| Cash and cash equivalents, at end of period | $45,776 | $16,630 |
| RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||
| Cash and cash equivalents | $45,776 | $12,502 |
| Restricted cash, non-current | $— | $4,128 |
| Total cash and cash equivalents and restricted cash, non-current | $45,776 | $16,630 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid for interest | $3,579 | $3,733 |
| Cash paid for income taxes | $54 | $59 |
| Cash paid for operating lease liabilities | $4,012 | $2,801 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Stock-based compensation included in property and equipment and capitalized internal-use software | $3,991 | $4,960 |
| Accrued bonus settled in restricted stock units | $3,507 | $1,848 |
|---|---|---|
| Bonus plan expense classified as stock-based compensation | $2,248 | $3,034 |
| Equipment acquired through finance lease and lease financing obligations | $17,105 | $13,094 |
| Assets obtained in exchange for operating lease obligations | $9,206 | $5,448 |
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