Backblaze adopts stock ownership policy for directors and executives

SAN MATEO, Calif. - Cloud storage company Backblaze, Inc. (NASDAQ:BLZE), whose stock has surged over 27% year-to-date according to InvestingPro data, announced Monday that its Board of Directors has implemented a new stock ownership policy for company leadership.

The policy establishes minimum equity ownership requirements for directors and executives, with non-employee directors required to hold company stock valued at five times their annual cash retainer. The Chief Executive Officer must maintain ownership equal to five times annual base salary, while the Chief Financial Officer is required to hold three times annual base salary in company stock. Other executives reporting to the CEO must maintain ownership equal to their annual base salary. The policy comes as Backblaze maintains a solid gross profit margin of ~58% despite not yet achieving profitability.

According to the press release statement, covered individuals will have five years to meet these ownership thresholds, in line with industry standards.

"I believe the best way to serve our shareholders is by ensuring that those leading the company are owners themselves," said Gleb Budman, Chairman of the Board and CEO of Backblaze.

The company indicated the policy aims to align leadership interests with those of stockholders and promote a long-term ownership perspective among company leaders.

Backblaze, founded in 2007 and headquartered in San Mateo, California, provides cloud object storage services. The company serves over 500,000 customers across 175 countries, according to the press release. With revenue growing at 19% year-over-year and a market capitalization of $434 million, investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.

In other recent news, Backblaze Inc. reported strong financial results for the second quarter of 2025. The company achieved revenues of $36.3 million, surpassing the consensus estimate of $35.4 million, marking a 16% increase compared to the same period last year. Backblaze’s earnings per share also surprised analysts, coming in at $0.01, which exceeded the forecasted loss of $0.05 per share. The company’s B2 Cloud Storage revenue reached $19.8 million, beating expectations of $19.1 million, while Computer Backup revenue was $16.5 million, slightly above the expected $16.3 million.

Following these results, Citizens JMP raised its price target for Backblaze to $8.00 from $7.00, maintaining a Market Outperform rating. This upgrade reflects the company’s robust earnings performance. Additionally, Backblaze announced that its Senior Product Manager for AI, Jeronimo De Leon, will present on AI storage strategies at the Ai4 2025 conference, focusing on how object storage can support AI lifecycle phases. These developments highlight Backblaze’s ongoing efforts to enhance its market position and technological capabilities.

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