diff --git a/drivers/net/ethernet/broadcom/bnxt/bnxt.c b/drivers/net/ethernet/broadcom/bnxt/bnxt.c
index 8c79b88c92b077..02a8d568857ba2 100644
--- a/drivers/net/ethernet/broadcom/bnxt/bnxt.c
+++ b/drivers/net/ethernet/broadcom/bnxt/bnxt.c
@@ -8233,7 +8233,7 @@ static int bnxt_hwrm_func_backing_store_qcaps_v2(struct bnxt *bp)
 {
 	struct hwrm_func_backing_store_qcaps_v2_output *resp;
 	struct hwrm_func_backing_store_qcaps_v2_input *req;
-	struct bnxt_ctx_mem_info *ctx;
+	struct bnxt_ctx_mem_info *ctx = bp->ctx;
 	u16 type;
 	int rc;
 
@@ -8241,10 +8241,12 @@ static int bnxt_hwrm_func_backing_store_qcaps_v2(struct bnxt *bp)
 	if (rc)
 		return rc;
 
-	ctx = kzalloc(sizeof(*ctx), GFP_KERNEL);
-	if (!ctx)
-		return -ENOMEM;
-	bp->ctx = ctx;
+	if (!ctx) {
+		ctx = kzalloc(sizeof(*ctx), GFP_KERNEL);
+		if (!ctx)
+			return -ENOMEM;
+		bp->ctx = ctx;
+	}
 
 	resp = hwrm_req_hold(bp, req);
 
@@ -8293,7 +8295,8 @@ static int bnxt_hwrm_func_backing_store_qcaps(struct bnxt *bp)
 	struct hwrm_func_backing_store_qcaps_input *req;
 	int rc;
 
-	if (bp->hwrm_spec_code < 0x10902 || BNXT_VF(bp) || bp->ctx)
+	if (bp->hwrm_spec_code < 0x10902 || BNXT_VF(bp) ||
+	    (bp->ctx && bp->ctx->flags & BNXT_CTX_FLAG_INITED))
 		return 0;
 
 	if (bp->fw_cap & BNXT_FW_CAP_BACKING_STORE_V2)
@@ -8766,11 +8769,16 @@ static int bnxt_backing_store_cfg_v2(struct bnxt *bp, u32 ena)
 }
 
 static void bnxt_free_one_ctx_mem(struct bnxt *bp,
-				  struct bnxt_ctx_mem_type *ctxm)
+				  struct bnxt_ctx_mem_type *ctxm, bool force)
 {
 	struct bnxt_ctx_pg_info *ctx_pg;
 	int i, n = 1;
 
+	ctxm->last = 0;
+
+	if (ctxm->mem_valid && !force)
+		return;
+
 	ctx_pg = ctxm->pg_info;
 	if (ctx_pg) {
 		if (ctxm->instance_bmap)
@@ -8784,7 +8792,7 @@ static void bnxt_free_one_ctx_mem(struct bnxt *bp,
 	}
 }
 
-void bnxt_free_ctx_mem(struct bnxt *bp)
+void bnxt_free_ctx_mem(struct bnxt *bp, bool force)
 {
 	struct bnxt_ctx_mem_info *ctx = bp->ctx;
 	u16 type;
@@ -8793,11 +8801,13 @@ void bnxt_free_ctx_mem(struct bnxt *bp)
 		return;
 
 	for (type = 0; type < BNXT_CTX_V2_MAX; type++)
-		bnxt_free_one_ctx_mem(bp, &ctx->ctx_arr[type]);
+		bnxt_free_one_ctx_mem(bp, &ctx->ctx_arr[type], force);
 
 	ctx->flags &= ~BNXT_CTX_FLAG_INITED;
-	kfree(ctx);
-	bp->ctx = NULL;
+	if (force) {
+		kfree(ctx);
+		bp->ctx = NULL;
+	}
 }
 
 static int bnxt_alloc_ctx_mem(struct bnxt *bp)
@@ -11758,7 +11768,7 @@ static int bnxt_hwrm_if_change(struct bnxt *bp, bool up)
 			set_bit(BNXT_STATE_FW_RESET_DET, &bp->state);
 			if (!test_bit(BNXT_STATE_IN_FW_RESET, &bp->state))
 				bnxt_ulp_irq_stop(bp);
-			bnxt_free_ctx_mem(bp);
+			bnxt_free_ctx_mem(bp, true);
 			bnxt_dcb_free(bp);
 			rc = bnxt_fw_init_one(bp);
 			if (rc) {
@@ -13471,7 +13481,7 @@ static void bnxt_fw_reset_close(struct bnxt *bp)
 	bnxt_hwrm_func_drv_unrgtr(bp);
 	if (pci_is_enabled(bp->pdev))
 		pci_disable_device(bp->pdev);
-	bnxt_free_ctx_mem(bp);
+	bnxt_free_ctx_mem(bp, true);
 }
 
 static bool is_bnxt_fw_ok(struct bnxt *bp)
@@ -15328,7 +15338,7 @@ static void bnxt_remove_one(struct pci_dev *pdev)
 	kfree(bp->fw_health);
 	bp->fw_health = NULL;
 	bnxt_cleanup_pci(bp);
-	bnxt_free_ctx_mem(bp);
+	bnxt_free_ctx_mem(bp, true);
 	bnxt_free_crash_dump_mem(bp);
 	kfree(bp->rss_indir_tbl);
 	bp->rss_indir_tbl = NULL;
@@ -15970,7 +15980,7 @@ static int bnxt_init_one(struct pci_dev *pdev, const struct pci_device_id *ent)
 	kfree(bp->fw_health);
 	bp->fw_health = NULL;
 	bnxt_cleanup_pci(bp);
-	bnxt_free_ctx_mem(bp);
+	bnxt_free_ctx_mem(bp, true);
 	bnxt_free_crash_dump_mem(bp);
 	kfree(bp->rss_indir_tbl);
 	bp->rss_indir_tbl = NULL;
@@ -16024,7 +16034,7 @@ static int bnxt_suspend(struct device *device)
 	}
 	bnxt_hwrm_func_drv_unrgtr(bp);
 	pci_disable_device(bp->pdev);
-	bnxt_free_ctx_mem(bp);
+	bnxt_free_ctx_mem(bp, true);
 	rtnl_unlock();
 	return rc;
 }
@@ -16136,7 +16146,7 @@ static pci_ers_result_t bnxt_io_error_detected(struct pci_dev *pdev,
 
 	if (pci_is_enabled(pdev))
 		pci_disable_device(pdev);
-	bnxt_free_ctx_mem(bp);
+	bnxt_free_ctx_mem(bp, true);
 	rtnl_unlock();
 
 	/* Request a slot slot reset. */
diff --git a/drivers/net/ethernet/broadcom/bnxt/bnxt.h b/drivers/net/ethernet/broadcom/bnxt/bnxt.h
index d1fa58d83897f2..a092ed3c224828 100644
--- a/drivers/net/ethernet/broadcom/bnxt/bnxt.h
+++ b/drivers/net/ethernet/broadcom/bnxt/bnxt.h
@@ -2824,7 +2824,7 @@ int bnxt_hwrm_vnic_alloc(struct bnxt *bp, struct bnxt_vnic_info *vnic,
 int __bnxt_hwrm_get_tx_rings(struct bnxt *bp, u16 fid, int *tx_rings);
 int bnxt_nq_rings_in_use(struct bnxt *bp);
 int bnxt_hwrm_set_coal(struct bnxt *);
-void bnxt_free_ctx_mem(struct bnxt *bp);
+void bnxt_free_ctx_mem(struct bnxt *bp, bool force);
 int bnxt_num_tx_to_cp(struct bnxt *bp, int tx);
 unsigned int bnxt_get_max_func_stat_ctxs(struct bnxt *bp);
 unsigned int bnxt_get_avail_stat_ctxs_for_en(struct bnxt *bp);
diff --git a/drivers/net/ethernet/broadcom/bnxt/bnxt_devlink.c b/drivers/net/ethernet/broadcom/bnxt/bnxt_devlink.c
index 4cb0fabf977e38..901fd36757ed67 100644
--- a/drivers/net/ethernet/broadcom/bnxt/bnxt_devlink.c
+++ b/drivers/net/ethernet/broadcom/bnxt/bnxt_devlink.c
@@ -463,7 +463,7 @@ static int bnxt_dl_reload_down(struct devlink *dl, bool netns_change,
 			break;
 		}
 		bnxt_cancel_reservations(bp, false);
-		bnxt_free_ctx_mem(bp);
+		bnxt_free_ctx_mem(bp, true);
 		break;
 	}
 	case DEVLINK_RELOAD_ACTION_FW_ACTIVATE: {