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Stock Ratings / Technology / BLZE
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Backblaze Inc. (Class A) (BLZE) — RQD Stock Rating Cockpit

$7.59 -13.06% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $7.40

Backblaze Inc. (Class A) (BLZE) carries a Roarable Rating of E (Strong Sell) with 34/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $469.8M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on BLZE Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is BLZE stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Backblaze Inc. (Class A) (NASDAQ: BLZE) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 34/100 at a spot price of $7.59 (-13.06% 1D, market cap $469.8M). Pillar breakdown: Fundamental Cash Engine 10/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 7/20, FRED Macro Regime Fit 6/20, and Executive Insider Alignment 8/20. Across 715 tracked Technology issuers, BLZE ranks #531 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does BLZE compare to IIIV and DDD in the Technology sector?
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Within the Technology sector (Computer Software: Prepackaged Software), BLZE carries a Roarable E (34/100 RQD), trailing P/E of N/A, gross margin of 60.9%, and ROIC of -34.5%. By comparison, IIIV (i3 Verticals Inc. (Class A)) holds a D grade (45/100 RQD, P/E 25.5x, ROIC 0.9%, cap $462.7M) and DDD (3D Systems Corporation) posts a E grade (24/100 RQD, P/E 16.3x, ROIC -32.8%, cap $461.9M). Among the 5-stock peer group, DDD leads on earnings multiple (16.3x) while IIIV leads on capital efficiency (0.9% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for BLZE?
▼

Per BLZE's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001462056), Backblaze Inc. (Class A) generated $145.8M in revenue (+14.3% YoY), -$25.6M in net income, and $18.9M in free cash flow against $191.8M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $7.40 (-2.54%)🧬 Disciplined Float (-0.12% YoY Shares)⚙️ Cash Engine: 10/20 (D) • 12.9% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (34/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-8.7% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • E
025507510034
3-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw D- · Rk E
Cash (10)Whales (3)SEC (7)Macro (6)CEO (8)
Each axis scored 0–20
12M PRICE TARGET CONE-10.8% Base Target
$25 Bull$7 Base$5 Bear
📬 FREE BLZE RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for BLZE)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (34/100 Composite)
🔍 WHY BLZE SCORES 34/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Cash Engine Quality+10/20 pts (29% of score)

SEC XBRL FY 2025 (10-K): 12.9% FCF Margin ($18.9M FCF) & 60.9% Gross Margin

▲ #2 Bullish Driver: Insider Conviction & Share Dilution+8/20 pts (24% of score)

SEC Form 4 / 13F Thermometer: 40% Net Buy • Disciplined Float (-0.12% YoY Shares)

▼ #1 Drag / Risk Factor: Whale & Options Positioning4/20 pts (-16 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-16 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
42
Grade D$12.51-26.7% Next Q
Q2 (-2Q)
39
Grade E$9.17+0.9% Next Q
Q3 (-1Q)
37
Grade E$9.25-17.9% Next Q
Current
34
Grade E$7.59-8.7% Hist 90D α
Trajectory: D (42) → E (34)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a BLZE Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While BLZE currently carries a cautious 34/100 (E) rating due to Whale & Options Positioning (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Technology with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($12.16) and Max Pain ($7.97) forces dealer call-delta covering toward $25.19.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (-0.12% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $BLZE• $4.8M Crowd Pool • Kalshi / Polymarket Composite
Contract: “BLZE Beats Next Quarterly Revenue & EPS Consensus + Hyperscaler AI CapEx Holds Record Pace”
YES 34%NO 66%Trade / Inspect Odds →
RSI-14 MOMENTUMNEUTRAL RANGE
32.730 Oversold · 70 Hot
ALTMAN-Z SHIELDDISTRESS RISK (<1.8)
1.75>3.0 Fortress Safe
PIOTROSKI F-SCOREHIGH QUALITY (7–9)
7 / 99-Pt Accounting
52-WEEK LASER RANGE21% OF RANGE
L: $3$7.59H: $24
1. Money & Cash Health● WEAK
Are profits real cash in the bank?

Weak cash conversion or heavy valuation strain compared to actual cash earned.

Factor Grade: DRQD 10 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: ERQD 11 / 40
3. Hidden Risks & Market Weather● WARNING
SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: ERQD 13 / 40
MULTI-MODEL JEV QUANT JURY DELIBERATION

3-of-3 JEV AI Jury Bearish Warning on BLZE

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BEARISH (50)

-34.5% ROIC with 60.9% gross margin and 3.49% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BEARISH (35)

Altman-Z 1.75 and Piotroski 7/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (28)

11/40 institutional & smart-money positioning score with 6/20 macro alignment.

Bull Case: Why Buyers Like BLZE
  • ✓Established market leader in Technology with deep daily trading liquidity.
Bear Case: What Could Go Wrong
  • !Company executives have done more routine share selling than personal cash buying lately.
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
  • !Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring BLZE)

  • ✓Walkthrough of BLZE's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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BLZE // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +63.58%🛡️ HOLDING TREND SUPPORT
2026-11-03O $8.73H $8.73L $7.59C $7.59VOL 2.23M
RES: $13.29SUP: $7.25SMA50: $12.16SMA200: $9.23
$25.40$19.55$13.70$7.85$2.00RES $13.29SUP $7.25$7.592026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

BLZE Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 BLZE Butterfly Map → + Track BLZE →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. +14.3% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on BLZE today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for BLZE. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for BLZE today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (BLZE)

Technology Rank #531 of 715 ⚔️ IIIV vs BLZE Full Matrix →

1. Head-to-Head Technology Peer Comparison (BLZE vs. IIIV, DDD, MTC, MTLS)

Industry: Computer Software: Prepackaged Software (222 Tracked Issuers)

Across 715 tracked Technology securities in the Roarable RQD universe, Backblaze Inc. (Class A) (BLZE) ranks #531 by composite RQD confidence (34/100, grade E) and #417 by equity capitalization ($469.8M). Within this direct 5-issuer industry benchmark cohort, DDD leads on earnings valuation at 16.3x trailing P/E, while IIIV leads on capital efficiency and profitability with 0.9% ROIC and — gross margin. MTLS currently holds the highest overall quantitative score in the immediate peer group at 53/100 (D+) compared with BLZE at 34/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
BLZE ACTIVE
Backblaze Inc. (Class A)
E 34/100 — 60.9% -34.5% -13.06% $469.8M Benchmark Subject
IIIV
i3 Verticals Inc. (Class A)
D 45/100 25.5x — 0.9% +1.56% $462.7M /iiiv-vs-blze →
DDD
3D Systems Corporation
E 24/100 16.3x 33.9% -32.8% -5.12% $461.9M /ddd-vs-blze →
MTC
MMTec Inc.
E 33/100 — 21.6% -12.0% -1.79% $492.0M /mtc-vs-blze →
MTLS
Materialise NV
D+ 53/100 — — — -0.83% $424.1M /mtls-vs-blze →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001462056 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Backblaze Inc. (Class A) (BLZE) reported GAAP revenue of $145.8M (+14.3% vs. FY2024 revenue of $127.6M , and +42.9% cumulative change since FY2023) , GAAP net income of -$25.6M, operating cash flow of $23.5M, and free cash flow of $18.9M (+74.6% YoY). On the balance sheet, BLZE closed FY2025 with $191.8M in total assets against $0 in total debt (Altman Z-Score: 1.75, Piotroski F-Score: 7/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $145.8M -$25.6M $23.5M $18.9M $191.8M —
FY2024 (FY) 2024-12-31 $127.6M -$48.5M $12.5M $10.8M $168.6M —
FY2023 (FY) 2023-12-31 $102.0M -$59.7M -$7.3M -$7.3M — —

3. BLZE Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is BLZE stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Backblaze Inc. (Class A) (NASDAQ: BLZE) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 34/100 at a spot price of $7.59 (-13.06% 1D, market cap $469.8M). Pillar breakdown: Fundamental Cash Engine 10/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 7/20, FRED Macro Regime Fit 6/20, and Executive Insider Alignment 8/20. Across 715 tracked Technology issuers, BLZE ranks #531 in composite RQD confidence.

How does BLZE compare to IIIV and DDD in the Technology sector?

Within the Technology sector (Computer Software: Prepackaged Software), BLZE carries a Roarable E (34/100 RQD), trailing P/E of N/A, gross margin of 60.9%, and ROIC of -34.5%. By comparison, IIIV (i3 Verticals Inc. (Class A)) holds a D grade (45/100 RQD, P/E 25.5x, ROIC 0.9%, cap $462.7M) and DDD (3D Systems Corporation) posts a E grade (24/100 RQD, P/E 16.3x, ROIC -32.8%, cap $461.9M). Among the 5-stock peer group, DDD leads on earnings multiple (16.3x) while IIIV leads on capital efficiency (0.9% ROIC).

What are the biggest fundamental strengths and SEC risk factors for BLZE?

Per BLZE's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001462056), Backblaze Inc. (Class A) generated $145.8M in revenue (+14.3% YoY), -$25.6M in net income, and $18.9M in free cash flow against $191.8M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is BLZE trading relative to its 50-day, 200-day, and 52-week technical levels?

BLZE last traded at $7.59 (-13.06% on volume of 2,226,338 shares), positioning the stock -37.58% below its 50-day simple moving average ($12.16) and -17.77% below its 200-day simple moving average ($9.23). Across its 52-week range of $3.26 to $23.99, BLZE sits at the 20.9% percentile with a 14-day RSI of 32.7 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($6.64 to $8.54).

Direct Sub-Reports: BLZE RQD Cockpit BLZE 12M Forecast BLZE Earnings & Move BLZE Dividends & DRIP BLZE Insiders & 13F BLZE Whale Options BLZE Profit Sankey BLZE News & Why
ROARABLE RATING BRIEF • RQD 34/100 (E) ✓ SEC XBRL & RQD VERIFIED

BLZE — Backblaze Inc. (Class A): What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Backblaze Inc. (Class A) (BLZE) earns a live Roarable RQD composite score of 34/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $7.59 (-13.06% 1D, market capitalization $469.8M).

  • Fundamental Cash Engine (10/20): Anchored by return on invested capital (ROIC) of -34.5%, gross margin of 60.9%, operating margin of -16.2%, and free cash flow yield of 3.49%.
  • Whale 13F & Options Flow (3/20) + Insider Conviction (8/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (6/20) + Forensic Balance Sheet (7/20): Incorporates a 1.00x equity beta, Altman Z-Score of 1.75, Piotroski F-Score of 7/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Backblaze Inc. (Class A) is a NASDAQ-listed issuer classified in the Technology sector and the Computer Software: Prepackaged Software industry. The company reported revenue of $145.8M for FY 2025, up from $127.6M in FY 2024 and $102.0M in FY 2023. Gross margin is reported at 60.9%, indicating a product-level margin structure that the source does not further explain.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Backblaze Inc. (Class A) (BLZE) reported $145.8M in annual revenue (up from $127.6M in FY2024, +14.3% YoY) and -$25.6M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($102.0M revenue, -$59.7M net income) through FY2025, BLZE scaled operating cash flow to $23.5M and free cash flow to $18.9M, backed by $191.8M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (E • RQD 34/100): Established market leader in Technology with deep daily trading liquidity. Free cash flow yield of 3.49% and institutional whale pillar of 3/20. With Fundamental Cash Engine at 10/20 and Institutional Whale Flow at 3/20, sustained execution supports upside toward the upper end of the $3.26 – $23.99 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -16.2% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

The source therefore provides no upstream or downstream dependency mapping, no sector correlation data beyond the Technology/Prepackaged Software classification, and no identified 2nd-order bottlenecks. The only ripple referenced in the news wire is the CoreWeave deal and associated funding concern noted in the kalkine.ca headline, which a prospective investor should examine against independent sources.

  • Key Question #1: Can BLZE sustain or expand its -16.2% operating margin and -34.5% ROIC against Computer Software: Prepackaged Software peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $145.8M and free cash flow of $18.9M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is BLZE's equity valuation to Technology capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

BLZE Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Backblaze Inc. (Class A) (BLZE) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to BLZE Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

BLZE Bull vs. Bear Conversation Board — What's Your Call at $7.59?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON BLZE 🐻 33% BEARISH CONVICTION
1. Pick Your Side on BLZE:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
MA MacroHawk_NYC RQD DEBATE OPENER • Cross-Asset Macro Desk 🐂 BULLISH 🎯 Target: $9.79 (+29.0%)
📌 Pinned Debate

Free cash flow turned positive to $18.9M in FY 2025 while operating losses narrowed from -$57.9M in FY 2023 to -$23.6M.

The street is overcomplicating Backblaze Inc. (Class A) (BLZE). Free cash flow turned positive to $18.9M in FY 2025 while operating losses narrowed from -$57.9M in FY 2023 to -$23.6M.. With an RQD score of 34/100 (E) and Forensic Balance Sheet at 7/20, any positive earnings surprise or guidance raise forces underweight funds to chase above $8.20.

CapAlloc_Nerd 🐂 BULL

@MacroHawk_NYC Agree on the RQD 34/100 quality, though with 1.0 beta I'm scaling in with half-size at $7.59 and keeping dry powder in case we test $7.06.

SK SkepticalCFA RQD DEBATE OPENER • Fundamental Contrarian 🐻 BEARISH 🎯 Target: $5.77 (-24.0%)
Spot @ $7.59

The Roarable RQD rating is a D- Sell with ROIC of -34.5%, an Altman Z-Score of 1.75, and cash falling to $29.2M.

Sitting on the sidelines or leaning short BLZE above $7.59. The Roarable RQD rating is a D- Sell with ROIC of -34.5%, an Altman Z-Score of 1.75, and cash falling to $29.2M.. Until Fundamental Cash Engine (10/20) and FCF yield (3.49%) inflect higher, upside is capped near $23.99.

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