Backblaze, Inc.
AI Valuation
AI-generated fair value estimate for this company.
AI Fair Value
$11.75
Market Price
$14.00
Overvalued By
19.1%
Method: 10-year unlevered FCF DCF: $23.98M TTM free cash flow base; 20% FCF growth years 1-5; 10% years 6-10; 11% discount rate; 3% terminal growth; net debt of $32.56M ($49.88M cash less $82.44M total debt); 61.90M shares outstanding.
Reasoning: Backblaze recently turned sustainably free-cash-flow positive, so an FCF DCF anchored to its recent run-rate and FY2026 guided 18.6% revenue growth is appropriate, while GAAP losses and net debt argue for an above-market discount rate.