Which has higher NRR - Snowflake or Backblaze?

As of their most recent disclosures, Snowflake has higher NRR (125.0% vs 95.0%) - a difference of +30.0pp.

Which had the higher all-time NRR peak?

Snowflake hit 178.0% in FY-2022 versus Backblaze's peak of 123.0% in FY2023-Q4.

cust.co / Compare / Snowflake vs Backblaze

Snowflake vs Backblaze - NRR head-to-head

Side-by-side Net Revenue Retention comparison sourced from SEC filings and earnings releases. Both compete in AI Infrastructure. Both at Public stage.

Snowflake (SNOW)

125.0%

FY2026-Q4 · AI Infrastructure

Backblaze (BLZE)

95.0%

FY2026-Q1 · AI Infrastructure

Snowflake leads by +30.0pp on latest NRR (125.0% vs 95.0%).

NRR over time

Snowflake hit a higher all-time peak (178.0% in FY-2022). Over 3 years, Snowflake is down -35.0pp; Backblaze is down -28.0pp.

Stat-by-stat

Metric	Snowflake	Backblaze
Latest NRR	125.0%	95.0%
All-time peak NRR	178.0%	123.0%
All-time low NRR	124.0%	95.0%
QoQ change	+0.0pp	-16.0pp
YoY change	+1.0pp	-14.0pp
3-year change	-35.0pp	-28.0pp
Disclosures tracked	22	13

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