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BZAIW

Blaize Holdings, Inc.

BZAIW

Blaize Holdings, Inc. • NASDAQ
$0.55 ▲ 5.77% (+0.03)
Market Cap $348.66 M
52w High $0.97
52w Low $0.52
Dividend Yield 0%
P/E 0
Volume 900
Outstanding Shares 633.93M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $11.867M ▲ $24.361M ▲ $-26.258M ▲ -221.269% ▲ $-0.25 ▲ $-25.873M ▲
Q2-2025 $1.982M ▲ $23.061M ▼ $-29.589M ▲ -1.493K% ▲ $-0.28 ▲ $-29.094M ▲
Q1-2025 $1.007M ▲ $26.475M ▲ $-147.761M ▼ -14.673K% ▼ $-9.76 ▼ $-147.408M ▼
Q4-2024 $-1.553M ▼ $-27.216M ▼ $50.389M ▲ -3.245K% ▲ $3.33 ▲ $48.714M ▲
Q3-2024 $781K $11.673M $-25.607M -3.279K% $-1.69 $-25.301M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $24.001M ▼ $60.904M ▲ $59.598M ▲ $1.306M ▲
Q2-2025 $28.588M ▼ $53.828M ▼ $58.638M ▲ $-4.81M ▼
Q1-2025 $78.317M ▲ $100.203M ▲ $50.432M ▲ $49.771M ▲
Q4-2024 $1.506K ▼ $48.317M ▼ $24.08M ▼ $24.237M ▲
Q3-2024 $68.64M $90.66M $370.601M $-279.941M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-26.258M ▲ $-24.917M ▼ $-26K ▼ $20.345M ▲ $-5.09M ▲ $-24.943M ▼
Q2-2025 $-29.589M ▲ $-16.429M ▲ $-20K ▲ $85K ▼ $-16.364M ▼ $-16.449M ▲
Q1-2025 $-147.761M ▼ $-20.475M ▼ $-661K ▲ $15.874M ▼ $77.558M ▲ $-21.136M ▼
Q4-2024 $-2.627M ▼ $-270.054K ▲ $-21.609M ▼ $22.571M ▲ $692.221K ▲ $-270.05K ▲
Q3-2024 $-875.953K $-14.162M $-1.084M $-3.478M $-18.724M $-15.246M

Five-Year Company Overview

Income Statement

Income Statement The income statement history points to a company that is still essentially pre‑revenue as a public vehicle. Reported sales have been negligible, and past results seem driven more by one‑off SPAC or accounting effects than by a real operating business. Losses have been modest in size but persistent, which is typical for an early‑stage technology story that is investing ahead of revenue. Profitability is not established, and there is no clear track record yet showing how the business scales once commercial shipments ramp up.

Balance Sheet

Balance Sheet The balance sheet looks very light, with a small base of assets and equity and only limited use of debt so far. At one point, equity moved into negative territory, which signals accumulated losses and a need for fresh capital, but later periods show that this has been repaired, likely via new funding or the SPAC transaction. Overall, the financial foundation appears thin, suggesting the company’s growth plans will depend heavily on continued access to external capital rather than on internally generated funds for some time.

Cash Flow

Cash Flow Cash flow data are very limited but consistent with a business in transition: negative operating cash flow in the only clearly active period, and essentially no meaningful investment spending recorded. That pattern fits either a SPAC shell or a very early commercial phase where expenses are running ahead of any sales. It also means the company has not yet demonstrated an ability to fund itself, and future development and scaling will likely require additional financing or improved contract execution.

Competitive Edge

Competitive Edge From a strategic standpoint, Blaize is aiming at a focused slice of the AI market: edge computing, where low power use and fast response matter more than raw peak performance. Its proprietary processor design and tightly integrated software stack give it a differentiated story compared with more general‑purpose chips. The emphasis on full‑stack solutions and tailored customer work can be an advantage in winning specialized deployments. However, the company is still small and must compete against very large, well‑funded players in AI hardware and software, so real-world adoption, reference customers, and ecosystem depth will be critical tests of its competitive strength.

Innovation and R&D

Innovation and R&D Innovation is the clear highlight. The Graph Streaming Processor architecture is designed specifically for edge workloads, with strong emphasis on efficiency and low latency. On top of that, Blaize offers user‑friendly tools like its AI Studio and a more advanced software kit, which can lower barriers for both newcomers and expert developers. The roadmap, including chiplet‑based designs and a more flexible compiler that can target different hardware, shows ongoing investment in R&D and a forward‑looking mindset. The key uncertainty is not the existence of interesting technology, but the company’s ability to turn that technology into scalable, repeatable products and long‑term customer relationships.

Summary

Overall, Blaize Holdings looks like a classic early‑stage technology story: rich in technical promise and product vision, but still very early in its financial journey as a public company. The innovation around edge AI and the integrated hardware‑software approach could give it a niche in a fast‑growing segment, especially if partnerships and early contracts convert into larger rollouts. At the same time, the current financial profile is thin, with minimal revenues, ongoing losses, and reliance on external financing. Future results will largely hinge on execution: turning pilot projects into volume deployments, managing cash prudently, and proving that the business model can scale profitably in the face of intense competition from much larger AI players.