BigBear.ai vs Backblaze
Backblaze reported revenue of $146 million in fiscal 2025, about the same as BigBear.ai's $128 million in fiscal 2025. BigBear.ai's revenue fell 19.3% in its latest year, and Backblaze's grew 14.3%. BigBear.ai had an operating margin of -167.5%, against -16.2% at Backblaze. Free cash flow was −$42 million at BigBear.ai and $19 million at Backblaze.
Side by side
| BigBear.ai | Backblaze | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $128M | $146M |
| Revenue growth | −19.3% | 14.3% |
| Revenue growth a year, last 5 years | 11.7% | 22.1% |
| Gross margin | 22.3% | 60.9% |
| Operating margin | −167.5% | −16.2% |
| Net margin | −230.2% | −17.6% |
| Free cash flow | −$42M | $19M |
| Free cash flow margin | −33.3% | 12.9% |
| Return on capital | −65.8% | — |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $0M | $2M |
| Change in diluted share count | 53.6% | 29.1% |
| Last close | $2.22 | $8.27 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $661,890 | sold $236,746 |
| Piotroski F-score | 4 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
BigBear.aiBackblaze
Operating margin
Percent of revenue
BigBear.aiBackblaze
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BigBear.aiBackblaze
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the BigBear.ai and Backblaze pages.