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 95% - that's -28pp from peak.
Backblaze is below the AI Infrastructure Public median by -3pp (cell median: 98%)
Backblaze (BLZE) is a ai infrastructure company at the public stage. As of its most recent disclosure (FY2026-Q1), Backblaze reported a Net Revenue Retention rate of 95% - a below-average result for B2B SaaS at this segment.
Backblaze's NRR peaked at 123% in FY2023-Q4, 28pp above today's level. Over the past three years, the metric has contracted by 28pp. The most recent quarter lost 16pp QoQ.
Within its peer set (ai infrastructure companies at public stage in the under $5k acv band), Backblaze's NRR is below the cell median of 98%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
When the company breaks NRR/GRR by segment, geography, or customer size cohort.
| NRR by segment | enterprise: 126% | smb: 101% |
|---|
Logo flow per period (count-side complement to dollar-based NRR).
Revenue, ARR, and team-size denominators for the productivity ratios.
Support tiers: self-serve · direct sales
CS team segments: Strategic · Enterprise · Mid-Market · SMB
CSM model: hybrid
Education programs: Backblaze Blog
Customer Advisory Board: Yes (4 disclosed members)
Top customer exec: Not Disclosed - VP of Customer Success (since 2025)
CCO comp tied to retention: Yes - Performance-based stock units tied to clearly defined performance objectives.
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 white label storage offering specifically designed for neoclouds.
"this morning we launched B2 Neo, a high-performance white label storage offering specifically designed for neoclouds."
Structural improvements across pricing, packaging, and infrastructure to offset cost headwinds.
"proactively launching a gross margin optimization initiative focused on structural improvements"
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."
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"
NRR decline and growth variability driven by a single large AI customer.
"The sequential decline reflects variability from the large customer that we mentioned in our past two earnings calls."
The legacy computer backup business is expected to decline 5% year-over-year.
"We see this business, declining 5% year-over-year."
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"
Curated quotes about customer outcomes, retention, renewals.
"We revamped our approach to customer success to better identify and expand use cases with existing customers."
"She's been doing a fabulous job of revamping how we engage with our customers... focused on getting significant value"
"Layer on our team actively supporting customer success, and it becomes clearer why hundreds of AI companies are choosing Backblaze."
"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."
"It's a pattern we've seen where customers often start small and lean in as they see the significant value our platform provides at scale."
"We also invested behind the customer experience by hiring a VP of Customer Success to improve onboarding and post-sales support."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Backblaze appears on 5 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-Q1 | 95% | 91% | 10-Q-mdna | source ↗ |
| FY2025-Q4 | 111% | - | earnings-call-transcript | source ↗ |
| FY-2025 | 105% | 91% | 10-K | source ↗ |
| FY2025-Q3 | 106% | 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.