Backblaze vs Kaltura
Kaltura is the larger business, with $181m of revenue in fiscal 2025 against $146m for Backblaze (1.2 times as much). Backblaze grew faster (14.3% against 1.2%). Kaltura kept more of each dollar of sales as profit: a net margin of -6.7% against -17.6%. Backblaze carries less debt relative to equity (0.0% against 462.9%).
| Latest fiscal year | BackblazeBLZE, 2025 | KalturaKLTR, 2025 |
|---|---|---|
| Revenue | $146m | $181m |
| Revenue growth | 14.3% | 1.2% |
| Net income | −$25.6m | −$12.1m |
| Operating margin | -16.2% | -2.7% |
| Net margin | -17.6% | -6.7% |
| Return on equity | -31.8% | -78.6% |
| Free cash flow | $18.9m | $13.9m |
| Cash | $29.2m | $27.5m |
| Total debt | $0 | $29.3m |
| Debt to equity | 0.0% | 462.9% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $2.0m | $26.2m |
| Employees | 320 | 494 |
| Market value | $492m | $228m |
| Price vs our value range | — | — |
| Moat score | 28 (Weak) | 26 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 9 buys, 79 sales |