Backblaze Inc - Class A risk profile
49 Elevated one input has moved against it
Measured 21 October 2026 from BLZE's filed statements. Recomputed nightly.
49 (Elevated), driven by Leverage and coverage at 92, over 6 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 77 | Stretched | Volatile | One-year price volatility — 111.7% |
| Operating pressure | 0 | Contained | Easing | Costs outgrowing revenue — -16.8 percentage points |
| Cash conversion | 21 | Normal | Easing | Capital spending against operating cash — 0.20x |
| Leverage and coverage | 92 | Acute | Stable | Net debt to EBITDA — 16.46x |
| Competitive position | 48 | Elevated | Stable | Operating-margin gap against peers — -22.0 percentage points |
| Concentration | 68 | Stretched | Stable | Geographic concentration — 5,188 HHI |
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.
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Financials, valuation and price history for Backblaze Inc - Class A