Backblaze, Inc.
For the period ended Dec 31, 2025. Filed Mar 10, 2026.
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FY2025 · Filed Mar 10, 2026
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 Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(25,612) | $(48,531) | $(59,713) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Noncash lease expense on operating leases | 4,944 | 2,727 | 2,350 |
| Depreciation and amortization | 25,591 | 28,328 | 24,912 |
| Impairment loss on long-lived assets | 1,159 | 898 | 232 |
| Stock-based compensation | 26,436 | 28,628 | 25,177 |
| Gain on disposal of property and equipment | (347) | (154) | (292) |
| Other, net | 686 | 409 | 417 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (1,651) | (1,031) | 56 |
| Prepaid expenses and other current assets | (1,527) | (741) | (445) |
| Other assets | (2,673) | (1,346) | (389) |
| Accounts payable | 402 | (547) | (295) |
| Accrued expenses and other current liabilities | 130 | 948 | (1,422) |
| Deferred revenue and other liabilities, non-current | 473 | 5,505 | 4,526 |
| Operating lease liabilities | (4,467) | (2,588) | (2,464) |
| Net cash provided by (used in) operating activities | 23,544 | 12,505 | (7,350) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchases of marketable securities | (39,530) | (38,097) | (26,358) |
| Maturities of marketable securities | 26,281 | 45,693 | 67,874 |
| Proceeds from disposal of property and equipment | 167 | 455 | 369 |
| Purchases of property and equipment | (4,694) | (1,711) | (5,512) |
| Capitalized internal-use software costs | (7,564) | (12,471) | (14,716) |
| Net cash (used in) provided by investing activities | (25,340) | (6,131) | 21,657 |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Principal payments on finance lease and lease financing obligations | (18,164) | (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 | (20) | (383) | — |
| Proceeds from debt facility | 2,454 | 554 | 4,273 |
| Repayment of debt facility | (2,454) | (4,682) | (4,450) |
| Payment of debt issuance costs | (602) | — | — |
| Proceeds from insurance premium financing | — | — | 893 |
| Principal payments on insurance premium financing | — | (893) | (1,545) |
| Proceeds from lease financing obligations | — | — | 4,450 |
| Purchase of treasury stock | (1,983) | — | — |
| Proceeds from exercises of stock options | 5,338 | 7,477 | 4,708 |
| Taxes paid for net share settlement of equity awards | (1,917) | — | — |
| Proceeds from ESPP | 2,550 | 2,768 | 2,339 |
| Net cash (used in) provided by financing activities | (14,798) | 22,772 | (8,842) |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (16,594) | 29,146 | 5,465 |
| Cash and cash equivalents and restricted cash, beginning of period | 45,776 | 16,630 | 11,165 |
| Cash and cash equivalents and restricted cash, end of period | $29,182 | $45,776 | $16,630 |
| RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | |||
| Cash and cash equivalents | $29,182 | $45,776 | $12,502 |
| Restricted cash, non-current | — | — | 4,128 |
| Total cash and cash equivalents and restricted cash, non-current | $29,182 | $45,776 | $16,630 |
| SUPPLEMENTAL INFORMATION: | |||
| Cash paid for interest | $3,738 | $3,579 | $3,733 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Accrued bonus settled in restricted stock units | $2,014 | $3,507 | $1,848 |
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