Backblaze, Inc.
For the period ended Sep 30, 2026. Filed Nov 2, 2026.
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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, 2026 · Filed Nov 2, 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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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(13,600) | $(20,199) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Noncash lease expense on operating leases | 4,826 | 3,365 |
| Depreciation and amortization | 21,431 | 19,282 |
| Impairment loss on right-of-use assets | — | 59 |
| Stock-based compensation | 23,720 | 20,108 |
| Loss (gain) on disposal of property and equipment | 30 | (363) |
| Stock-based consideration to a customer | 70 | — |
| Other, net | 102 | 425 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3,196) | (1,531) |
| Prepaid expenses and other current assets | (2,140) | (2,052) |
| Other assets | (9,182) | (1,704) |
| Accounts payable, accrued expenses and other current liabilities | 5,964 | 7 |
| Deferred revenue and other liabilities, non-current | (1,006) | 298 |
| Operating lease liabilities | (4,230) | (3,464) |
| Net cash provided by operating activities | 22,789 | 14,231 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of marketable securities | (38,694) | (34,396) |
| Maturities of marketable securities | 19,727 | 22,341 |
| Proceeds from disposal of property and equipment | 24 | 154 |
| Purchases of property and equipment | (4,356) | (4,429) |
| Capitalized internal-use software costs | (7,906) | (5,890) |
| Net cash used in investing activities | (31,205) | (22,220) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of convertible senior notes | 201,250 | — |
| Payment for capped calls related to convertible senior notes | (17,529) | — |
| Principal payments on finance leases and lease financing obligations | (13,030) | (13,898) |
| Payment of debt issuance costs | (6,512) | (602) |
| Proceeds from borrowings under revolving credit facility | — | 2,454 |
| Payment of offering costs | — | (20) |
| Purchase of treasury stock | (1,375) | (1,185) |
| Proceeds from exercises of stock options | 7,198 | 4,746 |
| Taxes paid for net share settlement of equity awards | (2,550) | (1,593) |
| Proceeds from ESPP | 1,071 | 1,388 |
| Other | (271) | — |
| Net cash provided by (used in) financing activities | 168,252 | (8,710) |
| Net increase (decrease) in cash and cash equivalents | 159,836 | (16,699) |
| Cash and cash equivalents, at beginning of period | 29,182 | 45,776 |
| Cash and cash equivalents, at end of period | $189,018 | $29,077 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid for interest | $4,141 | $2,626 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Accrued bonus and other liability awards settled in common stock | $4,355 | $2,014 |
| Amortization of customer warrant | $3,132 | $— |
| Accruals related to debt issuance costs | $660 | $— |
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