Backblaze, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 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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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(20,199) | $(34,154) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Noncash lease expense on operating leases | 3,365 | 1,708 |
| Depreciation and amortization | 19,282 | 21,268 |
| Impairment loss on right-of-use assets | 59 | — |
| Stock-based compensation | 20,108 | 19,495 |
| Gain on disposal of assets | (363) | (289) |
| Other | 425 | 281 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,531) | (1,962) |
| Prepaid expenses | (358) | 665 |
| Other current assets | (1,694) | (805) |
| Other assets | (1,704) | (423) |
| Accounts payable, accrued expenses and other current liabilities | 7 | 454 |
| Deferred revenue and other liabilities, non-current | 298 | 5,300 |
| Operating lease liabilities | (3,464) | (1,266) |
| Net cash provided by operating activities | 14,231 | 10,272 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of marketable securities | (34,396) | (32,501) |
| Maturities of marketable securities | 22,341 | 31,402 |
| Proceeds from disposal of property and equipment | 154 | 337 |
| Purchases of property and equipment | (4,429) | (885) |
| Capitalized internal-use software costs | (5,890) | (10,235) |
| Net cash used in investing activities | (22,220) | (11,882) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Principal payments on finance leases and lease financing obligations | (13,898) | (14,755) |
| Payment of offering costs | (20) | — |
| Proceeds from debt facility | 2,454 | 554 |
| Payment of debt issuance costs | (602) | — |
| Purchase of treasury stock | (1,185) | — |
| Principal payments on insurance premium financing | — | (893) |
| Proceeds from exercises of stock options | 4,746 | 6,347 |
| Taxes paid for net share settlement of equity awards | (1,593) | — |
| Proceeds from ESPP | 1,388 | 1,359 |
| Net cash used in financing activities | (8,710) | (7,388) |
| Net decrease in cash and cash equivalents and restricted cash | (16,699) | (8,998) |
| Cash and cash equivalents and restricted cash, at beginning of period | 45,776 | 16,630 |
| Cash and cash equivalents and restricted cash, at end of period | $29,077 | $7,632 |
| RECONCILIATION OF CASH AND RESTRICTED CASH | ||
| Cash and cash equivalents | $29,077 | $2,950 |
| Restricted cash, non-current | — | 4,682 |
| Total cash and cash equivalents and restricted cash | $29,077 | $7,632 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid for interest | $2,626 | $2,692 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Accrued bonus settled in restricted stock units | $2,014 | $3,507 |
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