Backblaze, Inc. (BLZE) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 04, 2026

Risk Assessment Details

Potential Dilution: 0.25% of current shares
Recent Dilution: 38.83% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
59M
Potential Supply
150K
Additional shares possible
Splits
None
Past 2 years

Summary

BLZE currently has 59.3M outstanding shares. with limited dilution risk as only 145K additional shares (0.2%) are authorized for issuance. The company has significantly diluted shareholders by 38.83% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 04, 2026

10-Q filing | 59.3M shares outstanding

59M 150K
Mar 10, 2026

10-K filing | 56.2M shares outstanding

56M 150K
Nov 06, 2025

10-Q filing | 57.0M shares outstanding

57M 150K
Aug 07, 2025

10-Q filing | 55.6M shares outstanding

56M 150K
May 07, 2025

10-Q filing | 54.1M shares outstanding

54M 150K
Mar 11, 2025

10-K filing | 54.3M shares outstanding

54M 150K
Nov 07, 2024

10-Q filing | 43.5M shares outstanding

44M 150K
Aug 08, 2024

10-Q filing | 42.2M shares outstanding

42M 150K
May 08, 2024

10-Q filing | 40.2M shares outstanding

40M 150K
May 01, 2024

S-3 filing: The filing is an S-3 registration statement for the offering of common stock, preferred stock, debt securities, and warrants with an aggregate initial offering price not to exceed $200,000,000.

41M 150K
Apr 01, 2024

10-K filing | 41.2M shares outstanding

41M 150K
Nov 14, 2023

10-Q filing | 36.7M shares outstanding

37M 150K
Aug 14, 2023

10-Q filing | 35.1M shares outstanding

35M 150K
May 12, 2023

10-Q filing | 21.4M shares outstanding

21M 150K
Mar 31, 2023

10-K filing | 21.1M shares outstanding

21M 150K
Nov 10, 2022

10-Q filing | 15.3M shares outstanding

15M 150K
Aug 12, 2022

10-Q filing | 14.4M shares outstanding

14M 150K
May 10, 2022

10-Q filing | 12.6M shares outstanding

13M 150K
Mar 28, 2022

10-K filing | 8.5M shares outstanding

8.5M 150K
Dec 14, 2021

10-Q filing | 7.9M shares outstanding

7.9M 150K
Nov 18, 2021

8-K filing: Backblaze, Inc. announces that the underwriters of its initial public offering exercised in full their option to purchase an additional 937,500 shares of Class A Common Stock, resulting in additional gross proceeds of approximately $15.0 million. ($130.0M proceeds)

N/A 150K
Nov 08, 2021

S-1/A filing: This S-1/A filing includes information on beneficial ownership and agreements with underwriters, including lock-up agreements and potential issuances of equity securities for acquisitions or strategic transactions.

N/A 150K
Nov 04, 2021

S-1/A filing: This S-1/A filing details recent sales of unregistered securities, including the issuance of Class B common stock upon option exercises and convertible notes that will convert into Class A common stock upon completion of the offering.

N/A 11M
Nov 02, 2021

S-1/A filing: This is an S-1/A filing for an offering of Class A common stock, with Oppenheimer & Co. Inc. as the lead underwriter. The underwriters have an option to purchase additional shares to cover over-allotments.

N/A 0
Oct 18, 2021

S-1 filing: This is an S-1 filing for an offering of Class A common stock with Oppenheimer& Co. Inc. as the lead underwriter. The underwriters have an option to purchase additional shares to cover over-allotments.

N/A 0
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