AppFolio, Inc. vs Backblaze, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 5—BLZE: 0wins
Rule of 40
40.6APPF
22.6BLZE
check_circleAPPF leads
Revenue Growth
29.5%APPF
21.3%BLZE
check_circleAPPF leads
Gross Margin
87%APPF
62%BLZE
check_circleAPPF leads
FCF Margin
11.2%APPF
1.3%BLZE
check_circleAPPF leads
Operating Margin
17.4%APPF
-12.6%BLZE
check_circleAPPF leads
NRR
—APPF
—BLZE
Metric
Rule of 40Efficiency score
APPF
40.6check_circle
BLZE
22.6
Revenue GrowthYoY
APPF
29.5%check_circle
BLZE
21.3%
Gross Margin% of revenue
APPF
87%check_circle
BLZE
62%
FCF MarginFree cash flow
APPF
11.2%check_circle
BLZE
1.3%
Operating MarginGAAP
APPF
17.4%check_circle
BLZE
-12.6%
NRRNet retention
APPF
N/A
BLZE
N/A
EV / RevenueValuation multiple
APPF
7.3x
BLZE
4.5xcheck_circle
Market CapUSD
APPF
$7.4Bcheck_circle
BLZE
$744.2M
ARR GrowthYoY
APPF
N/A
BLZE
N/A
CAC PaybackMonths to recover
APPF
N/A
BLZE
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 7.3x EV/Revenue versus Backblaze, Inc. at 4.5x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to Backblaze, Inc.'s 22.6, placing AppFolio, Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs Backblaze, Inc. 62%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.