Gross Retention excludes expansion - it shows pure churn / contraction loss. The gap between NRR and GRR is the expansion lift.
Peak NRR of 123% in FY2023-Q4. Latest is 105% - that's -18pp from peak.
Backblaze is above the AI Infrastructure Public median by +0pp (cell median: 105%)
Backblaze (BLZE) is a ai infrastructure company at the public stage. As of its most recent disclosure (FY2026-Q3), Backblaze reported a Net Revenue Retention rate of 105% - a mid-pack result for B2B SaaS at this segment.
Backblaze's NRR peaked at 123% in FY2023-Q4, 18pp above today's level. Over the past three years, the metric has contracted by 18pp. The most recent quarter gained 2pp QoQ.
Within its peer set (ai infrastructure companies at public stage in the under $5k acv band), Backblaze's NRR is roughly in line with the cell median of 105%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
When the company breaks NRR/GRR by segment, geography, or customer size cohort.
| NRR by segment | enterprise: 126% | smb: 101% |
|---|
Revenue, ARR, and team-size denominators for the productivity ratios.
Forward-booked revenue by maturity. Renewal pipeline visibility.
Support tiers: Standard · Premier
CS team segments: Strategic · Enterprise · Mid-Market · SMB
CSM model: hybrid
Education programs: Backblaze Blog
Top customer exec: Unnamed - Leader for the Customer Success organization (since 2025)
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
Plan designed to improve effectiveness and efficiency of sales and marketing functions.
"In November 2025, we initiated a restructuring and transformation plan designed primarily to improve the effectiveness"
Startup program offering up to $100,000 in storage credits for AI developers.
"Flamethrower is our founder-first startup program designed for the next generation of AI developers"
Premium high-performance cloud storage solution for data-intensive workloads like AI/ML training.
"In April 2025, we launched B2 Overdrive, our premium-priced, ultra high-throughput performance cloud storage solution"
Startup program providing early-stage companies with product credits and technical support.
"launch of Flamethrower, a startup program designed to provide early-stage companies with product credits"
High-performance storage offering optimized for large datasets and AI/ML workloads.
"Overdrive offers very fast performance optimized for large datasets and high-performance throughput."
Focus on upskilling, partnerships, and specific sales plays to move up-market.
"our go-to-market transformation, which focuses on three key areas: upskilling, partnerships, and sales plays."
White-label offering enabling partners to offer cloud storage to their customers.
"They chose our Powered by Backblaze offering, thus enabling them to offer cloud storage to their customers."
Founder-first startup initiative offering up to $100,000 in storage credits coupled with direct support to engage AI developers.
"Flamethrower is our founder-first startup program designed for the next generation of AI developers, builders, and entrepreneurs."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Material weaknesses in internal control over financial reporting related to review of transactions and reconciliations.
"there were no reportable events... except for material weaknesses in our internal control over financial reporting"
Downward pressure as the market for standalone consumer backup solutions has matured.
"The consumer portion of the market for our Computer Backup has also been experiencing downward pressure"
Downward pressure as the standalone consumer backup market matures.
"The consumer portion of the market for our Computer Backup has also been experiencing downward pressure"
Some customers taking longer to make decisions due to the business environment.
"some customers are taking more time to make decisions in the current business environment"
The consumer side of the computer backup business is in a secular macro decline.
"The consumer is in a secular macro decline, versus the business side, is the growth opportunity"
Anticipated loss of a larger customer in the first quarter of 2025.
"we did have a larger customer loss in Q1. So that's not reflected in any of this"
Curated quotes about customer outcomes, retention, renewals.
"She's been doing a fabulous job of revamping how we engage with our customers, really focused on both getting significant value to them and making sure that they're getting full value of the platform, also looking at what opportunities we have to expand with them."
"Our business compounds within that market as we add new customers and retain them for an average of nine years. B2 net revenue retention of 111% reflects consistent expansion within our installed base, reinforcing durable long-term growth."
"With the generative AI customers we have today, we are finding that price and performance get us in the door, but it is the experience that keeps them and grows them. Transparent pricing, responsive support, and a team that works with them rather than just selling to them."
"Our gross customer retention metrics remain very healthy, with customers continuing to use both our B2 and Computer Backup solutions for nine years on average."
"While churn from the price increase was anticipated, it did not materialize. Excluding that impact, underlying growth continues to show strength."
"Now, as we're heavily investing in the sales led side of the business and working with these larger opportunities, the team is actually actively in discussions with them, working around what their needs are, what their plans are, and kind of co-planning together."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Backblaze appears on 3 of our retention leaderboards.
Free to embed on your blog or board deck. Includes a small backlink to cust.co.
Or grab the data: JSON API →
| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2026-Q3 | 105% | 91% | 10-Q-mdna | source ↗ |
| FY2026-Q2 | 103% | 91% | 10-Q-mdna | source ↗ |
| FY2026-Q1 | 103% | - | earnings-press-release-8k-exh | source ↗ |
| FY2025-Q4 | 105% | - | earnings-press-release-8k-exh | source ↗ |
| FY2025-Q3 | 107% | 91% | 10-Q-mdna | source ↗ |
| FY2025-Q2 | 109% | 90% | 10-Q-mdna | source ↗ |
| FY2025-Q1 | 105% | 90% | 10-Q-mdna | source ↗ |
| FY2024-Q4 | 116% | 90% | earnings-call-transcript | source ↗ |
| FY-2024 | 116% | 90% | 10-K | source ↗ |
| FY2024-Q3 | 118% | 90% | 10-Q-mdna | source ↗ |
| FY2024-Q2 | 114% | 90% | 10-Q-mdna | source ↗ |
| FY2024-Q1 | 112% | - | earnings-call-transcript | source ↗ |
| FY-2023 | 109% | 91% | 10-K | source ↗ |
| FY2023-Q4 | 123% | - | 10-K | source ↗ |
Generate a live retention report against Backblaze and your full peer cell. Ungated. Downloadable as PDF.