Summary Verdict
BLZE: 0—APPF: 5wins
Rule of 40
27.2BLZE
46.3APPF
check_circleAPPF leads
Revenue Growth
14.3%BLZE
21.5%APPF
check_circleAPPF leads
Gross Margin
61%BLZE
84%APPF
check_circleAPPF leads
FCF Margin
12.9%BLZE
24.8%APPF
check_circleAPPF leads
Operating Margin
-16.2%BLZE
15.8%APPF
check_circleAPPF leads
NRR
—BLZE
—APPF
Metric
Rule of 40Efficiency score
BLZE
27.2
APPF
46.3check_circle
Revenue GrowthYoY
BLZE
14.3%
APPF
21.5%check_circle
Gross Margin% of revenue
BLZE
61%
APPF
84%check_circle
FCF MarginFree cash flow
BLZE
12.9%
APPF
24.8%check_circle
Operating MarginGAAP
BLZE
-16.2%
APPF
15.8%check_circle
NRRNet retention
BLZE
N/A
APPF
N/A
EV / RevenueValuation multiple
BLZE
N/A
APPF
6.3x
Market CapUSD
BLZE
N/A
APPF
$6.1B
ARR GrowthYoY
BLZE
N/A
APPF
N/A
CAC PaybackMonths to recover
BLZE
N/A
APPF
N/A
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insights
Analysis
As of Q4 2025, Backblaze, Inc. trades at N/A EV/Revenue versus AppFolio, Inc. at 6.3x. On the Rule of 40, Backblaze, Inc. scores 27.2 compared to AppFolio, Inc.'s 46.3, placing AppFolio, Inc. ahead in operating efficiency. Gross margins stand at Backblaze, Inc. 61% vs AppFolio, Inc. 84%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.