BLZE — what changed in the latest 10-Q
A section-by-section comparison of BLZE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-02 vs the prior 10-Q · 2026-08-03
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +81 | −72 | ~56 | 36 |
| Market risk (Item 3) | Text added/removed | +3 | −2 | ~2 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +60 | −42 | ~37 | 170 |
| Other information | Text added/removed | +5 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-02
via the Backblaze Partner API and custom domains technology. B2 Neo enables neocloud platforms to offer native, branded object storage alongside their GPU and compute services.
To continue expanding and accelerating our movement up-market and aligning to emerging AI-related opportunities, we introduced B2 Neo and Flamethrower in 2026 as complementary initiatives to expand our presence across the AI ecosystem. B2 Neo supports our strategy of establishing relationships with …
On August 24, 2026, we issued $201.3 million aggregate principal amount of 0.00% convertible senior notes with a maturity date of August 15, 2031 (the “Notes”), in a private placement to qualified institutional buyers, which included the full exercise by the initial purchasers of their option to pur…
Beyond neoclouds, Backblaze also serves a new and evolving class of businesses across generative AI, physical AI, and data providers. These companies gather data for their own use or for sale; process that data and distribute it to GPUs to train models; create checkpoints, logs, and other artifacts …
This trend also informs our strategy for serving and attracting the next generation of developers. Our new AI developer team, which comprises AI-native engineers and product leaders within our Research and Development organization, is focused on incorporating B2 Cloud Storage into the tooling, docum…
Text removed vs the prior filing · source: 10-Q · 2026-08-03
Powered by Backblaze enables platforms to bolster existing products or expand their product offerings with cloud storage via the Backblaze Partner API and custom domains technology.
To continue expanding and accelerating our movement up-market and aligning to emerging AI-related opportunities, we have introduced a set of product, developer, and go-to-market initiatives designed to position Backblaze across the AI data lifecycle. B2 Neo is our white-label cloud object storage so…
Beyond these developers and startups new and evolving businesses are establishing themselves in the multimodal generative AI space, including video and audio applications, and selecting B2 Cloud Storage as their object storage tier. These companies gather data for their own use or for sale; process …
This trend also informs our strategy for serving and attracting the next generation of developers. Our new AI developer team, which comprises AI-native engineers and product leaders within our Research and Development organization, is focused on incorporating B2 Cloud Storage into the tooling, docum…
We remain committed to continued investment in our technology platform to meet the performance, durability, security, compliance, and integration requirements of modern enterprise and AI workloads. This includes continued development of our core B2 Cloud Storage platform, B2 Overdrive, B2 Neo, partn…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-11-02
In August 2026, we issued $201.3 million aggregate principal amount of 0.00% convertible senior notes due in 2031 (the “Notes”). The Notes do not have regularly scheduled interest payments; therefore, we do not have economic interest rate exposure on the Notes. We carry the Notes at their principal …
The current inflationary and interest rate environment has increased and will continue to increase our operating costs and our interest expense. Heightened demand for infrastructure supporting AI and other compute-intensive workloads has contributed to higher data center equipment prices, while supp…
Our reporting currency and the functional currency of our wholly owned foreign subsidiaries are the U.S. dollar. Our revenue and operating expenses are generally denominated in U.S. dollars and are not subject to foreign currency exchange rate risk. Our exposure to foreign currency exchange rate ris…
Text removed vs the prior filing · source: 10-Q · 2026-08-03
The current inflationary and interest rate environment has increased and will continue to increase our operating costs and our interest expense. Heightened demand for infrastructure supporting AI and other compute-intensive workloads has contributed to higher data center equipment prices, while supp…
Our reporting currency and the functional currency of our wholly owned foreign subsidiaries are the U.S. dollar. Our revenue and operating expenses are denominated in U.S. dollars and are not subject to foreign currency exchange rate risk. Our exposure to foreign currency exchange rate risk relates …
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-11-02
•Sales of a substantial number of shares of our Class A common stock in the public market could cause our share price to fall.*
Our brand, reputation, and ability to manage our systems; attract, retain, and serve our customers; and interface with our partners, are dependent upon the reliable performance of our platform, including our underlying technical infrastructure, as well as the systems and infrastructure of various th…
In addition, because we offer our Computer Backup cloud service at a fixed price, the amount of data our customers back up affects our costs and gross margins. Subject to certain limitations, we also offer free egress for our B2 Cloud Storage customers. To the extent current or future customers back…
Additionally, we engage some of our non U.S. employees through third-party employers of record (“EORs”). As a result of this method of engagement, we face certain challenges and risks that can affect our business, operations, and financial condition.
In the locations where we directly hire our employees, we must comply with the applicable local laws governing employees in those jurisdictions, including local employment and tax laws. In the locations where we utilize EORs, we contract with the EOR for it to serve as the legal employer, where the …
Text removed vs the prior filing · source: 10-Q · 2026-08-03
Our brand, reputation, and ability to manage our systems; attract, retain, and serve our customers; and interface with our partners, are dependent upon the reliable performance of our platform, including our underlying technical infrastructure, as well as the systems and infrastructure of various th…
increase in the future. A decrease in website traffic or an increase in promoted search result costs could adversely affect our customer acquisition efforts and our operating results. In addition, we also rely on our blog and word of mouth to drive additional customers. To the extent our blog does n…
In addition, because we offer our Computer Backup cloud service at a fixed price, the amount of data our customers back up affects our costs and gross margins. Subject to certain limitations, we also offer free egress for our B2 Cloud Storage customers. To the extent current or future customers back…
The competition for data center space, infrastructure and equipment has intensified significantly, particularly due to increased demand from AI and other compute-intensive workloads. As a result, available capacity in key markets is limited, and data center and other vendors have implemented, and ma…
qualification and other requirements. These heightened requirements may favor larger, better-capitalized companies and could make it more difficult or costly for us to secure additional data center space or renew existing agreements on favorable terms. Adding data center capacity, whether at existin…
Other information
Text added vs the prior filing · source: 10-Q · 2026-11-02
During the quarter ended September 30, 2026, the individuals listed below adopted, modified, or terminated trading plans intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
On September 11, 2026, Marc Suidan, our Chief Financial Officer (“CFO”), entered into a trading plan that provides for the sale of an aggregate of up to 144,456 shares of our Class A common stock. Trades may commence as early as March 8, 2027. The plan will terminate on November 23, 2027, subject to…
On September 15, 2026, Gleb Budman, our Chief Executive Officer (“CEO”), Director and Chairman of the Board, entered into a trading plan that provides for the sale of an aggregate of up to 500,000 shares of our Class A common stock. Trades may commence as early as March 8, 2027. The plan will termin…
On September 15, 2026, Barbara Nelson, a Director, entered into a trading plan that provides for the sale of 6,757 shares of our Class A common stock. Trades may commence as early as the first trading date after our 2027 Annual Meeting of Stockholders. The plan will terminate on June 7, 2027, subjec…
Effective August 15, 2025, the Company adopted stock ownership guidelines (the "Guidelines") to align the interests of our executives with those of our stockholders. Minimum ownership requirements include: (i) five times their annual cash retainer in connection with their Board and committee service…
Text removed vs the prior filing · source: 10-Q · 2026-08-03
During the Company's last fiscal quarter, none of the Company’s directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated contracts, instructions or written plans for the purchase or sale of the Company’s securities pursuant to Rule 10b5-1 or non-Rule 10b5-1 t…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice