Backblaze vs CS Disco
Backblaze and CS Disco are similar in size: $146m and $157m of revenue in their latest fiscal years. Backblaze grew faster (14.3% against 8.3%). Backblaze kept more of each dollar of sales as profit: a net margin of -17.6% against -28.3%. Backblaze carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | BackblazeBLZE, 2025 | CS DiscoLAW, 2025 |
|---|---|---|
| Revenue | $146m | $157m |
| Revenue growth | 14.3% | 8.3% |
| Net income | −$25.6m | −$44.4m |
| Operating margin | -16.2% | -30.7% |
| Net margin | -17.6% | -28.3% |
| Return on equity | -31.8% | -32.2% |
| Free cash flow | $18.9m | −$18.0m |
| Cash | $29.2m | $19.7m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $2.0m | $105,000 |
| Employees | 320 | 577 |
| Market value | $492m | $340m |
| Price vs our value range | — | — |
| Moat score | 28 (Weak) | 30 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 11 buys, 22 sales |