Backblaze vs Smartrent
Backblaze and Smartrent are similar in size: $146m and $152m of revenue in their latest fiscal years. Backblaze grew faster (14.3% against -12.9%). Backblaze kept more of each dollar of sales as profit: a net margin of -17.6% against -39.8%.
| Latest fiscal year | BackblazeBLZE, 2025 | SmartrentSMRT, 2025 |
|---|---|---|
| Revenue | $146m | $152m |
| Revenue growth | 14.3% | -12.9% |
| Net income | −$25.6m | −$60.6m |
| Operating margin | -16.2% | — |
| Net margin | -17.6% | -39.8% |
| Return on equity | -31.8% | -23.2% |
| Free cash flow | $18.9m | −$25.1m |
| Cash | $29.2m | $105m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $2.0m | $4.9m |
| Employees | 320 | 418 |
| Market value | $492m | $264m |
| Price vs our value range | — | — |
| Moat score | 28 (Weak) | 0 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 28 buys, 0 sales |