Blaize Holdings, Inc. BZAI
Blaize Holdings, Inc. ("Blaize," the "Company," "we," "us," and "our") develops purpose-built AI-enabled computing solutions comprised of both our proprietary hardware and software, and complementary third-party hardware solutions, as further described below. Our computing solutions are designed for efficient processing of AI inference workloads across edge and data center environments. Our architecture supports AI workloads where latency, power efficiency, and cost efficiency are important considerations. Our systems can process data locally at the edge or within data center infrastructure, depending on deployment requirements. Local processing can reduce bandwidth usage and support latency-sensitive applications requiring real-time decision making.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $38.6M | $1.6M | — | — | — | — |
| Cost of revenue | $32.4M | $579.0K | — | — | — | — |
| Gross profit | $6.2M | $975.0K | — | — | — | — |
| R&D | $42.5M | $25.1M | — | — | — | — |
| Total operating expenses | $110.0M | $48.6M | — | — | — | — |
| Operating income | -$103.8M | -$47.6M | -$3.4M | -$1.5M | — | — |
| Pre-tax income | -$206.7M | -$62.1M | $2.4M | $2.5M | — | — |
| Income tax | $217.0K | $952.0K | $1.0M | $791.8K | — | — |
| Net income | -$206.9M | -$61.2M | $1.3M | $1.7M | — | — |
| EPS, basic | -1.98 | -3.50 | — | — | — | — |
| EPS, diluted | -1.98 | -3.50 | — | — | — | — |
| Shares, diluted (wtd. avg.) | $104.3M | $17.5M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $45.8M | $50.2M | $3.2M | $22.2K | $1.5M | — |
| Inventory | $10.1M | $8.6M | — | — | — | — |
| Total current assets | $96.6M | $71.7M | $25.7M | $208.8K | $1.9M | — |
| Property, plant and equipment | $1.2M | $2.1M | — | — | — | — |
| Total assets | $102.2M | $78.5M | $72.6M | $296.0M | $293.7M | — |
| Total current liabilities | $43.4M | $186.1M | $31.4M | $1.3M | $700.0K | — |
| Total liabilities | $63.2M | $189.0M | $41.4M | $11.4M | $10.8M | — |
| Retained earnings | -$636.2M | -$429.3M | -$15.8M | -$10.1M | -$8.8M | — |
| Total equity | $39.0M | -$110.5M | -$53.2M | -$10.1M | -$8.8M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$73.8M | -$53.5M | -$2.3M | -$1.4M | — | — |
| Stock-based compensation | $37.5M | $3.8M | — | — | — | — |
| Capital expenditure | $788.0K | $902.0K | — | — | — | — |
| Investing cash flow | -$788.0K | -$902.0K | $230.1M | — | — | — |
| Financing cash flow | $70.1M | $101.7M | -$227.0M | -$144.7K | — | — |
| Buybacks | — | $33.1M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001871638-26-000028.
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