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Blaize (BZAI) Financials

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$1.02 -0.01 (-0.97%)
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Annual Income Statements for Blaize

Annual Income Statements for Blaize

This table shows Blaize's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 1.67 1.34 -61 -207
Consolidated Net Income / (Loss)		 1.67 1.34 -61 -207
Net Income / (Loss) Continuing Operations		 1.67 1.34 -61 -207
Total Pre-Tax Income 		2.47 2.37 -62 -207
Total Operating Income		 -1.52 -3.38 -48 -104
Total Gross Profit		 0.00 0.00 0.98 6.19
Total Revenue		 0.00 0.00 1.55 39
Operating Revenue		 - - 1.55 39
Total Cost of Revenue		 0.00 0.00 0.58 32
Operating Cost of Revenue		 - - 0.58 32
Total Operating Expenses		 1.52 3.38 49 110
Selling, General & Admin Expense		 1.32 3.04 22 54
Research & Development Expense		 - - 25 43
Depreciation Expense		 - - 0.89 1.20
Other Operating Expenses / (Income)		 0.20 0.34 0.22 12
Total Other Income / (Expense), net		 3.99 5.75 -15 -103
Other Income / (Expense), net		 - 0.00 -15 -103
Income Tax Expense		 0.79 1.03 -0.95 0.22
Basic Earnings per Share		 $0.00 $0.18 ($3.50) ($1.98)
Weighted Average Basic Shares Outstanding		 39.57M 21.45M 17.48M 104.28M
Diluted Earnings per Share		 $0.00 $0.18 ($3.50) ($1.98)
Weighted Average Diluted Shares Outstanding		 39.57M 21.45M 17.48M 104.28M
Weighted Average Basic & Diluted Shares Outstanding		 - - 101.68M 122.74M

Quarterly Income Statements for Blaize

This table shows Blaize's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.00 -0.34 -17 -12 -26 -2.63 -148 -30 -26 -3.30 -23
Consolidated Net Income / (Loss)		 0.00 -0.34 -17 -12 -26 -2.63 -148 -30 -26 -3.30 -23
Net Income / (Loss) Continuing Operations		 0.00 -0.34 -17 -12 -26 -2.63 -148 -30 -26 -3.30 -23
Total Pre-Tax Income 		0.18 -0.26 -17 -12 -26 -2.52 -148 -30 -26 -3.30 -23
Total Operating Income		 -0.73 -1.20 -8.14 -11 -11 -2.45 -38 -22 -23 -21 -23
Total Gross Profit		 0.00 - 0.24 -0.03 0.31 -0.21 0.68 1.18 1.78 2.56 1.58
Total Revenue		 0.00 - 0.55 0.22 0.78 - 1.01 1.98 12 24 2.74
Operating Revenue		 - - 0.55 0.22 0.78 - 1.01 1.98 12 24 2.74
Total Cost of Revenue		 0.00 - 0.31 0.26 0.48 0.21 0.33 0.80 10 21 1.16
Operating Cost of Revenue		 - - 0.31 0.26 0.48 - 0.33 0.80 10 21 1.16
Total Operating Expenses		 0.73 1.20 8.38 11 12 2.24 39 23 24 24 25
Selling, General & Admin Expense		 0.68 1.15 3.99 5.00 5.55 2.09 13 13 14 14 15
Research & Development Expense		 - - 4.09 5.87 5.80 - 13 9.61 9.68 10 9.68
Depreciation Expense		 - - 0.25 0.18 0.25 - 0.19 0.46 0.36 0.18 0.19
Other Operating Expenses / (Income)		 0.05 0.05 0.05 0.04 0.08 0.15 12 0.00 0.00 0.01 0.00
Total Other Income / (Expense), net		 0.91 0.94 -8.44 -0.89 -14 -0.07 -110 -7.67 -3.65 18 0.83
Other Income / (Expense), net		 0.00 - -8.44 -0.42 -14 - -110 -7.67 -3.65 18 0.83
Income Tax Expense		 0.18 0.07 0.16 0.13 0.06 0.11 0.16 0.04 0.02 -0.01 0.10
Basic Earnings per Share		 $0.00 - ($1.23) ($0.89) ($1.47) ($0.69) ($1.61) ($0.28) ($0.25) $0.16 ($0.19)
Weighted Average Basic Shares Outstanding		 17.45M 21.45M 13.61M 13.62M 17.48M 20.15M 91.75M 104.59M 103.59M 104.28M 122.38M
Diluted Earnings per Share		 $0.00 - ($1.23) ($0.89) ($1.47) ($0.69) ($1.61) ($0.28) ($0.25) $0.16 ($0.19)
Weighted Average Diluted Shares Outstanding		 17.45M 21.45M 13.61M 13.62M 17.48M 20.15M 91.75M 104.59M 103.59M 104.28M 122.38M
Weighted Average Basic & Diluted Shares Outstanding		 17.45M 0.00 15.16M 15.16M 15.16M 101.68M 101.68M 102.62M 110.99M 122.74M 142.30M

Annual Cash Flow Statements for Blaize

This table details how cash moves in and out of Blaize's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -1.52 0.82 47 -4.44
Net Cash From Operating Activities		 -1.37 -2.34 -54 -74
Net Cash From Continuing Operating Activities		 -1.37 -2.34 -54 -74
Net Income / (Loss) Continuing Operations		 1.67 1.34 -61 -207
Consolidated Net Income / (Loss)		 1.67 1.34 -61 -207
Depreciation Expense		 - - 0.89 1.20
Amortization Expense		 - - 0.46 0.00
Non-Cash Adjustments To Reconcile Net Income		 -3.99 -5.75 20 146
Changes in Operating Assets and Liabilities, net		 0.94 2.08 -14 -14
Net Cash From Investing Activities		 0.00 230 -0.90 -0.79
Net Cash From Continuing Investing Activities		 0.00 230 -0.90 -0.79
Purchase of Property, Plant & Equipment		 - - -0.90 -0.79
Net Cash From Financing Activities		 -0.14 -227 102 70
Net Cash From Continuing Financing Activities		 -0.14 -227 102 70
Repayment of Debt		 -0.14 0.81 -4.75 -0.11
Repurchase of Common Equity		 - - -4.36 -7.66
Issuance of Debt		 0.00 0.00 111 0.00
Issuance of Common Equity		 - - 0.00 61
Other Financing Activities, net		 0.00 -228 0.10 17
Cash Interest Paid		 - - 0.25 0.00
Cash Income Taxes Paid		 0.00 0.79 0.22 0.34

Quarterly Cash Flow Statements for Blaize

This table details how cash moves in and out of Blaize's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -1.27 0.84 3.83 80 17 0.69 11 -16 53 -36 -13
Net Cash From Operating Activities		 -1.27 -0.17 -7.36 -14 -14 -0.27 -16 -16 -25 -16 -13
Net Cash From Continuing Operating Activities		 -1.27 -0.17 -7.36 -15 22 -0.27 0.00 -17 33 -74 0.00
Net Income / (Loss) Continuing Operations		 0.00 -0.34 -17 -12 29 -2.63 0.00 -30 177 -207 0.00
Net Cash From Investing Activities		 - 0.31 -0.18 0.10 -1.08 -22 -0.66 -0.02 -0.03 -0.08 -0.12
Net Cash From Continuing Investing Activities		 - 0.31 -0.18 0.10 -1.08 -22 -0.66 -0.02 -0.03 -0.08 -0.12
Purchase of Property, Plant & Equipment		 - - -0.18 0.10 -1.08 - -0.66 -0.02 -0.03 -0.08 -0.12
Net Cash From Financing Activities		 - 0.71 11 94 -3.48 23 11 0.09 20 38 0.06
Net Cash From Continuing Financing Activities		 - 0.71 11 94 -3.48 23 11 0.09 20 38 0.06
Repurchase of Common Equity		 - - - - - - -4.53 - - -7.46 0.00
Other Financing Activities, net		 - - -0.13 0.02 -3.48 22 16 0.20 0.52 4.66 0.06
Effect of Exchange Rate Changes		 - - - - - - 0.00 - - - 0.12
Other Net Changes in Cash		 - - - - - - - - - - -13

Annual Balance Sheets for Blaize

This table presents Blaize's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 294 296 73 78 102
Total Current Assets		 1.87 0.21 26 72 97
Cash & Equivalents		 1.54 0.02 0.00 50 46
Accounts Receivable		 - - - 0.00 37
Inventories, net		 - - - 8.56 10
Prepaid Expenses		 - - - 13 4.00
Plant, Property, & Equipment, net		 0.00 0.00 0.00 2.08 1.23
Total Noncurrent Assets		 292 296 47 4.75 4.38
Noncurrent Deferred & Refundable Income Taxes		 - - - 2.16 2.12
Other Noncurrent Operating Assets		 292 296 47 2.59 2.26
Total Liabilities & Shareholders' Equity		 294 296 73 78 102
Total Liabilities		 11 11 41 189 63
Total Current Liabilities		 0.70 1.30 31 186 43
Short-Term Debt		 - 0.00 0.81 0.00 4.36
Accounts Payable		 0.01 - - 7.90 31
Accrued Expenses		 0.54 0.30 2.12 14 7.03
Other Current Liabilities		 0.14 0.20 25 164 0.64
Total Noncurrent Liabilities		 10 10 10 2.84 20
Other Noncurrent Operating Liabilities		 10 10 10 2.84 20
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -8.83 -10 -16 -110 39
Total Preferred & Common Equity		 -8.83 -10 -16 -110 39
Total Common Equity		 -8.83 -10 -16 -110 39
Common Stock		 0.00 0.00 0.00 319 675
Retained Earnings		 -8.83 -10 -16 -429 -636
Accumulated Other Comprehensive Income / (Loss)		 - - - - 0.00

Quarterly Balance Sheets for Blaize

This table presents Blaize's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 71 48 49 50 100 54 61 71
Total Current Assets		 0.06 0.28 0.18 0.19 94 47 55 65
Cash & Equivalents		 0.00 0.00 0.00 0.00 45 29 24 33
Accounts Receivable		 - - - - 1.01 3.15 14 17
Inventories, net		 - - - - 8.38 8.23 8.78 9.01
Prepaid Expenses		 - 0.10 0.05 0.06 5.84 6.94 8.42 6.42
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 2.05 1.60 1.27 1.38
Total Noncurrent Assets		 71 48 49 50 4.61 4.81 4.86 3.99
Noncurrent Deferred & Refundable Income Taxes		 - - - - 2.17 2.21 2.36 1.96
Other Noncurrent Operating Assets		 71 48 49 50 2.44 2.60 2.49 2.04
Total Liabilities & Shareholders' Equity		 71 48 49 50 100 54 61 71
Total Liabilities		 15 17 19 20 50 59 60 45
Total Current Liabilities		 4.52 6.94 8.46 10 38 40 37 27
Short-Term Debt		 - 1.50 1.50 1.50 0.00 0.00 0.00 4.36
Accounts Payable		 - - - - 17 17 15 14
Accrued Expenses		 1.19 2.22 2.53 3.12 12 14 12 7.25
Other Current Liabilities		 0.10 0.54 1.63 2.83 4.90 4.86 5.04 0.60
Total Noncurrent Liabilities		 10 10 10 10 12 19 23 19
Other Noncurrent Operating Liabilities		 10 10 10 10 12 19 23 19
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -14 -17 -18 -20 17 -4.81 1.31 25
Total Preferred & Common Equity		 -14 -17 -18 -20 17 -4.81 1.31 25
Total Common Equity		 -14 -17 -18 -20 17 -4.81 1.31 25
Common Stock		 0.00 0.00 0.00 0.00 602 610 634 684
Retained Earnings		 -14 -17 -18 -20 -577 -607 -633 -659
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - 0.13

Annual Metrics And Ratios for Blaize

This table displays calculated financial ratios and metrics derived from Blaize's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 38,237,500.00 17,447,703.00 - 110,988,152.00
DEI Adjusted Shares Outstanding		 38,237,500.00 17,447,703.00 - 110,988,152.00
DEI Earnings Per Adjusted Shares Outstanding		 0.04 0.08 - -1.86
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% 0.00% 2,385.97%
EBITDA Growth		 0.00% -122.11% -79.08% -238.00%
EBIT Growth		 0.00% -122.11% -79.08% -232.58%
NOPAT Growth		 0.00% -85.12% -81.90% -117.99%
Net Income Growth		 0.00% -19.98% -407.18% -238.11%
EPS Growth		 0.00% 0.00% -550.00% 43.43%
Operating Cash Flow Growth		 0.00% -70.14% -18.65% -37.77%
Free Cash Flow Firm Growth		 0.00% 0.00% -98.94% -245.67%
Invested Capital Growth		 0.00% -89.07% -19.74% 98.49%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 190.40%
EBITDA Q/Q Growth		 0.00% -14.54% -62.46% -31.93%
EBIT Q/Q Growth		 0.00% -14.54% -62.46% -32.70%
NOPAT Q/Q Growth		 0.00% 1.22% -33.38% -82.74%
Net Income Q/Q Growth		 0.00% -50.26% -125.45% -35.04%
EPS Q/Q Growth		 0.00% 50.00% -575.00% -409.38%
Operating Cash Flow Q/Q Growth		 0.00% 10.86% -3.61% -203.84%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -88.22% -1,749.54%
Invested Capital Q/Q Growth		 0.00% -44.70% -19.68% 89.32%
Profitability Metrics		 - - - -
Gross Margin		 0.00% 0.00% 0.00% 16.03%
EBITDA Margin		 0.00% 0.00% 0.00% -531.92%
Operating Margin		 0.00% 0.00% 0.00% -268.80%
EBIT Margin		 0.00% 0.00% 0.00% -535.02%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% -535.58%
Tax Burden Percent		 67.88% 56.58% 114.38% 100.11%
Interest Burden Percent		 -161.78% -69.92% 59.33% 100.00%
Effective Tax Rate		 32.12% 43.42% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.59% 0.85% -14.85% 579.05%
Cash Return on Invested Capital (CROIC)		 0.00% 159.36% 9.48% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% -228.76%
Return on Assets (ROA)		 0.00% 0.00% 0.00% -229.00%
Return on Common Equity (ROCE)		 -0.02% -0.07% 10.51% 579.05%
Return on Equity Simple (ROE_SIMPLE)		 -16.50% -8.45% 17.61% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.03 -1.92 -3.48 -73
NOPAT Margin		 0.00% 0.00% 0.00% -188.16%
Net Nonoperating Expense Percent (NNEP)		 12,181.19% 11,790.90% 177.91% -292.05%
Return On Investment Capital (ROIC_SIMPLE)		 10.20% 12.74% 15.94% -167.65%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 83.97%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 140.49%
R&D to Revenue		 0.00% 0.00% 0.00% 110.07%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 284.83%
Earnings before Interest and Taxes (EBIT)		 -1.52 -3.38 -6.06 -207
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.52 -3.38 -6.06 -205
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 5.55
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 5.55
Price to Revenue (P/Rev)		 0.00 0.00 0.00 5.60
Price to Earnings (P/E)		 232.13 139.80 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.43% 0.72% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.40 7.52 11.04 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 4.53
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.93 103.75 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.03 0.06 0.11
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.00 0.01 1.29
Leverage Ratio		 1.04 1.17 2.18 -2.53
Compound Leverage Factor		 -1.68 -0.82 1.30 -2.53
Debt to Total Capital		 0.00% 2.54% 5.83% 10.05%
Short-Term Debt to Total Capital		 0.00% 2.54% 5.83% 10.05%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 103.56% 147.02% 184.94% 0.00%
Common Equity to Total Capital		 -3.56% -49.55% -90.77% 89.95%
Debt to EBITDA		 0.00 -0.24 -0.25 -0.02
Net Debt to EBITDA		 0.00 0.01 -0.12 0.20
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 -0.42 -0.43 -0.06
Net Debt to NOPAT		 0.00 0.02 -0.21 0.57
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00
Altman Z-Score		 20.45 2.16 4.25 -12.33
Noncontrolling Interest Sharing Ratio		 103.34% 108.23% 170.77% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 0.16 0.82 0.05 2.23
Quick Ratio		 0.02 0.00 0.00 1.90
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 252 2.66 -231
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% -9,359.26%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.00 0.00 0.43
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 3.47
Fixed Asset Turnover		 0.00 0.00 0.00 23.36
Accounts Payable Turnover		 0.00 0.00 0.00 1.65
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 105.16
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 220.89
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 -115.73
Capital & Investment Metrics		 - - - -
Invested Capital		 285 31 25 -2.42
Invested Capital Turnover		 0.00 0.00 0.00 -0.47
Increase / (Decrease) in Invested Capital		 0.00 -254 -6.14 159
Enterprise Value (EV)		 683 234 276 175
Market Capitalization		 388 187 227 216
Book Value per Share		 ($0.27) ($0.91) ($1.54) $0.35
Tangible Book Value per Share		 ($0.27) ($0.91) ($1.54) $0.35
Total Capital		 285 32 26 43
Total Debt		 0.00 0.81 1.50 4.36
Total Long-Term Debt		 0.00 0.00 0.00 0.00
Net Debt		 -0.02 -0.03 0.74 -41
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.79
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.11 -5.71 -13 12
Debt-free Net Working Capital (DFNWC)		 -1.09 -4.87 -12 58
Net Working Capital (NWC)		 -1.09 -5.68 -13 53
Net Nonoperating Expense (NNE)		 -2.71 -3.25 0.63 134
Net Nonoperating Obligations (NNO)		 -0.02 -0.03 0.74 -41
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 1.20
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 30.53%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 149.03%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 137.76%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.12 $0.18 ($0.81) ($1.98)
Adjusted Weighted Average Basic Shares Outstanding		 39.57M 21.45M 20.15M 104.28M
Adjusted Diluted Earnings per Share		 $0.12 $0.18 ($0.81) ($1.98)
Adjusted Weighted Average Diluted Shares Outstanding		 39.57M 21.45M 20.15M 104.28M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 101.68M 122.74M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.03 -1.92 -3.48 -73
Normalized NOPAT Margin		 0.00% 0.00% 0.00% -188.16%
Pre Tax Income Margin		 0.00% 0.00% 0.00% -535.02%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% -3.70%

Quarterly Metrics And Ratios for Blaize

This table displays calculated financial ratios and metrics derived from Blaize's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 17,447,703.00 17,447,703.00 17,447,703.00 15,162,663.00 15,162,663.00 - 101,683,916.00 101,683,916.00 102,620,190.00 110,988,152.00 122,744,509.00
DEI Adjusted Shares Outstanding		 17,447,703.00 17,447,703.00 17,447,703.00 15,162,663.00 15,162,663.00 - 101,683,916.00 101,683,916.00 102,620,190.00 110,988,152.00 122,744,509.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.02 -0.96 -0.80 -1.69 - -1.45 -0.29 -0.26 -0.03 -0.18
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 83.42% 788.79% 1,419.46% 2,377,500.00% 171.90%
EBITDA Growth		 -80.79% -55.45% -1,722.71% -1,944.01% -3,376.83% -103.37% -802.79% -155.79% -2.26% 62.25% 84.83%
EBIT Growth		 -80.79% -55.45% -1,750.95% -1,977.08% -3,411.32% -103.37% -790.17% -155.67% -2.68% 60.96% 84.72%
NOPAT Growth		 95.40% -57.94% -780.16% -3,689.70% -59,320.99% -103.37% -367.26% -96.52% -98.67% -25.64% 38.49%
Net Income Growth		 -99.49% -133.27% -1,163.19% -12,404.09% -761,759.73% -677.64% -782.52% -143.47% -2.54% 50.75% 84.67%
EPS Growth		 -100.00% 0.00% -920.00% -3,066.67% 0.00% 0.00% -30.89% 68.54% 82.99% 77.78% 88.20%
Operating Cash Flow Growth		 -797.52% 62.11% -1,087.04% -5,107.26% -1,017.26% -55.58% -116.54% -15.19% -75.94% 7.23% 20.79%
Free Cash Flow Firm Growth		 0.00% 0.00% -92.89% -93.31% -92.41% -98.25% -93.60% 229.70% 120.62% -196.28% -858.10%
Invested Capital Growth		 -80.13% -89.07% -40.92% -41.79% -44.74% -19.74% -85.22% -204.32% -172.97% 98.49% -171.13%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -59.38% 250.22% 0.00% 100,600.00% 96.82% 498.74% 100.35% -88.48%
EBITDA Q/Q Growth		 -30.77% -65.57% -1,255.20% 30.34% -122.45% -76.02% -1,685.03% 80.26% 11.07% 87.95% -617.61%
EBIT Q/Q Growth		 -30.77% -65.57% -1,276.20% 30.29% -121.08% -76.02% -1,645.49% 79.98% 11.21% 87.42% -583.25%
NOPAT Q/Q Growth		 93.49% -6,197.76% -575.36% -36.84% -2.09% -88.18% -123.72% 42.45% -3.21% 5.46% -9.54%
Net Income Q/Q Growth		 -96.60% -10,147.09% -4,856.73% 27.41% -110.71% -199.87% -2,108.02% 79.98% 11.26% 87.45% -587.29%
EPS Q/Q Growth		 -100.00% 0.00% 0.00% 27.64% -65.17% -475.00% -1,888.89% 82.61% 10.71% 164.00% -218.75%
Operating Cash Flow Q/Q Growth		 -362.78% 86.31% -4,141.80% -93.71% 0.71% 59.93% 10.14% -3.04% -51.66% 33.94% 23.27%
Free Cash Flow Firm Q/Q Growth		 -0.12% 11.37% -93.35% -9.62% 13.32% -81.76% -99.40% 4,559.45% -24.17% -556.68% 95.30%
Invested Capital Q/Q Growth		 2.31% -44.70% 4.41% -1.47% -2.86% -19.68% 102.98% -795.21% 32.05% 89.32% -40.97%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 44.26% -15.25% 39.05% 0.00% 67.53% 59.43% 14.97% 10.77% 57.56%
EBITDA Margin		 0.00% 0.00% -2,974.13% -5,100.45% -3,239.56% 0.00% -14,638.33% -1,467.91% -218.02% -13.11% -816.95%
Operating Margin		 0.00% 0.00% -1,482.15% -4,993.27% -1,455.57% 0.00% -3,775.67% -1,104.09% -190.32% -89.80% -854.20%
EBIT Margin		 0.00% 0.00% -3,020.22% -5,182.96% -3,271.70% 0.00% -14,657.30% -1,490.92% -221.09% -13.88% -823.74%
Profit (Net Income) Margin		 0.00% 0.00% -3,049.73% -5,449.78% -3,278.75% 0.00% -14,673.39% -1,492.89% -221.27% -13.86% -827.36%
Tax Burden Percent		 1.84% 128.41% 100.98% 101.09% 100.22% 104.42% 100.11% 100.13% 100.08% 99.85% 100.44%
Interest Burden Percent		 -25.10% 21.83% 100.00% 104.01% 100.00% 102.67% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 98.16% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% -13.02% -62.02% -36.22% 0.00% -285.15% 0.00% -421.73% 0.00% -34,801.23%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% -12,363.53% -4,311.56% -2,499.46% 0.00% 270.37% 0.00% -329.13% 0.00% -34,784.22%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% -25.33% -10.19% -41.68% 0.00% -145.74% 0.00% 239.82% 0.00% 34,142.79%
Return on Equity (ROE)		 1.58% 0.85% -38.35% -72.21% -77.90% -14.85% -430.89% -1,185.80% -181.91% 579.05% -658.44%
Cash Return on Invested Capital (CROIC)		 0.00% 159.36% 34.45% 18.72% 6.60% 9.48% -142.49% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% -27.88% -66.49% -84.01% 0.00% -397.57% -64.25% -52.99% -5.94% -388.98%
Return on Assets (ROA)		 0.00% 0.00% -28.15% -69.92% -84.19% 0.00% -398.01% -64.33% -53.03% -5.93% -390.68%
Return on Common Equity (ROCE)		 -0.11% -0.07% 13.08% 26.39% 30.94% 10.51% -0.32% 1,055.54% 108.79% 579.05% -369.03%
Return on Equity Simple (ROE_SIMPLE)		 -18.82% 0.00% 101.98% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.01 -0.84 -5.70 -7.79 -7.96 -1.72 -27 -15 -16 -15 -16
NOPAT Margin		 0.00% 0.00% -1,037.50% -3,495.29% -1,018.90% 0.00% -2,642.97% -772.86% -133.22% -62.86% -597.94%
Net Nonoperating Expense Percent (NNEP)		 6.97% 1,831.91% 12,350.51% 4,249.54% 2,463.24% 257.43% -555.52% -105.26% -92.60% 25.35% -17.02%
Return On Investment Capital (ROIC_SIMPLE)		 0.09% 5.61% 37.60% 46.97% 43.42% 7.85% -159.27% 318.46% -1,210.53% -34.47% -54.93%
Cost of Revenue to Revenue		 0.00% 0.00% 55.74% 115.25% 60.95% 0.00% 32.47% 40.57% 85.03% 89.23% 42.44%
SG&A Expenses to Revenue		 0.00% 0.00% 726.41% 2,243.95% 710.12% 0.00% 1,325.62% 655.50% 120.68% 57.22% 551.61%
R&D to Revenue		 0.00% 0.00% 745.72% 2,633.18% 742.51% 0.00% 1,302.68% 485.02% 81.54% 42.55% 353.36%
Operating Expenses to Revenue		 0.00% 0.00% 1,526.41% 4,978.03% 1,494.62% 0.00% 3,843.20% 1,163.52% 205.28% 100.57% 911.76%
Earnings before Interest and Taxes (EBIT)		 -0.73 -1.20 -17 -12 -26 -2.45 -148 -30 -26 -3.30 -23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.73 -1.20 -16 -11 -25 -2.45 -147 -29 -26 -3.12 -22
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 1.83 0.00 271.09 5.55 8.78
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 1.83 0.00 271.09 5.55 8.78
Price to Revenue (P/Rev)		 0.00 0.00 352.45 218.41 110.13 0.00 15.22 136.68 26.61 5.60 5.53
Price to Earnings (P/E)		 68.44 139.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.46% 0.72% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.53 7.52 7.47 6.83 7.14 11.04 3.90 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 441.96 283.32 142.93 0.00 9.31 123.78 24.81 4.53 4.82
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.93 16.10 26.85 76.97 103.75 0.00 8.20 23.55 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.03 0.05 0.05 0.05 0.06 0.00 0.00 0.00 0.11 0.17
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.00 0.00 0.00 0.02 0.01 -0.54 -1.05 -0.73 1.29 -0.98
Leverage Ratio		 1.07 1.17 1.36 1.39 1.41 2.18 1.83 4.00 3.58 -2.53 2.27
Compound Leverage Factor		 -0.27 0.25 1.36 1.44 1.41 2.24 1.83 4.00 3.58 -2.53 2.27
Debt to Total Capital		 0.00% 2.54% 4.60% 4.68% 4.81% 5.83% 0.00% 0.00% 0.00% 10.05% 14.62%
Short-Term Debt to Total Capital		 0.00% 2.54% 4.60% 4.68% 4.81% 5.83% 0.00% 0.00% 0.00% 10.05% 14.62%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 125.43% 147.02% 146.41% 151.79% 158.81% 184.94% 66.43% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -25.43% -49.55% -51.01% -56.47% -63.62% -90.77% 33.57% 100.00% 100.00% 89.95% 85.38%
Debt to EBITDA		 0.00 -0.24 -0.14 -0.07 -0.05 -0.25 0.00 0.00 0.00 -0.02 -0.05
Net Debt to EBITDA		 0.00 0.01 -0.13 -0.07 -0.05 -0.12 0.00 0.00 0.00 0.20 0.36
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 -0.42 -0.20 -0.10 -0.07 -0.43 0.00 0.00 0.00 -0.06 -0.07
Net Debt to NOPAT		 0.00 0.02 -0.18 -0.10 -0.06 -0.21 0.00 0.00 0.00 0.57 0.46
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.19 2.26 5.05 3.98 2.57 4.49 -11.88 -14.27 -11.83 -5.76 -9.90
Noncontrolling Interest Sharing Ratio		 106.98% 108.23% 134.10% 136.54% 139.72% 170.77% 99.93% 189.02% 159.80% 0.00% 43.95%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.01 0.82 0.04 0.02 0.02 0.05 2.43 1.20 1.49 2.23 2.46
Quick Ratio		 0.00 0.00 0.00 0.00 0.00 0.00 1.20 0.80 1.02 1.90 1.88
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 227 253 17 15 17 4.43 1.08 50 38 -173 -8.15
Operating Cash Flow to CapEx		 0.00% 0.00% -4,159.89% 0.00% -1,306.46% 0.00% -2,412.10% -82,145.00% -95,834.62% -20,322.22% -10,887.93%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 32.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 -30.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 -30.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.01 0.01 0.03 0.00 0.03 0.04 0.24 0.43 0.47
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.55
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.47 3.83
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23.36 23.52
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.65 2.12
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 80.19
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 105.16 95.41
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 220.89 172.50
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -115.73 3.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 56 31 32 32 31 25 4.80 -33 -23 -2.42 -3.42
Invested Capital Turnover		 0.00 0.00 0.01 0.02 0.04 0.00 0.11 -3.21 3.17 -0.47 58.20
Increase / (Decrease) in Invested Capital		 -227 -254 -23 -23 -25 -6.14 -28 -65 -54 159 -8.22
Enterprise Value (EV)		 255 234 243 219 222 276 19 274 330 175 195
Market Capitalization		 184 187 193 169 171 227 31 303 354 216 223
Book Value per Share		 ($0.82) ($0.91) ($0.95) ($1.19) ($1.31) ($1.54) $1.10 ($0.05) $0.01 $0.35 $0.21
Tangible Book Value per Share		 ($0.82) ($0.91) ($0.95) ($1.19) ($1.31) ($1.54) $1.10 ($0.05) $0.01 $0.35 $0.21
Total Capital		 56 32 33 32 31 26 50 -4.81 1.31 43 30
Total Debt		 0.00 0.81 1.50 1.50 1.50 1.50 0.00 0.00 0.00 4.36 4.36
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -0.00 -0.03 1.35 1.47 1.43 0.74 -45 -29 -24 -41 -29
Capital Expenditures (CapEx)		 0.00 0.00 0.18 -0.10 1.08 0.00 0.66 0.02 0.03 0.08 0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.46 -5.71 -5.31 -6.81 -8.75 -13 10 -21 -6.02 12 9.98
Debt-free Net Working Capital (DFNWC)		 -4.46 -4.87 -5.16 -6.78 -8.69 -12 55 7.80 18 58 43
Net Working Capital (NWC)		 -4.46 -5.68 -6.66 -8.28 -10 -13 55 7.80 18 53 39
Net Nonoperating Expense (NNE)		 -0.02 -0.51 11 4.36 18 0.91 121 14 10 -12 6.28
Net Nonoperating Obligations (NNO)		 -0.00 -0.03 1.35 1.47 1.43 0.74 -45 -29 -24 -41 -29
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.25 0.18 0.25 0.00 0.19 0.46 0.36 0.18 0.19
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -967.66% -881.85% -563.62% 0.00% 503.88% -937.62% -45.22% 30.53% 24.73%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% -940.57% -878.36% -559.33% 0.00% 2,738.82% 351.87% 135.20% 149.03% 107.03%
Net Working Capital to Revenue		 0.00% 0.00% -1,213.79% -1,072.66% -655.91% 0.00% 2,738.82% 351.87% 135.20% 137.76% 96.23%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.12) ($0.69) ($1.61) ($0.28) ($0.25) $0.16 ($0.19)
Adjusted Weighted Average Basic Shares Outstanding		 17.45M 21.45M 15.16M 15.16M 15.16M 20.15M 91.75M 104.59M 103.59M 104.28M 122.38M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.12) ($0.69) ($1.61) ($0.28) ($0.25) $0.16 ($0.19)
Adjusted Weighted Average Diluted Shares Outstanding		 17.45M 21.45M 15.16M 15.16M 15.16M 20.15M 91.75M 104.59M 103.59M 104.28M 122.38M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 17.45M 0.00 15.16M 15.16M 15.16M 101.68M 101.68M 102.62M 110.99M 122.74M 142.30M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.51 -0.84 -5.70 -7.79 -7.96 -1.72 -27 -15 -16 -15 -16
Normalized NOPAT Margin		 0.00% 0.00% -1,037.50% -3,495.29% -1,018.90% 0.00% -2,642.97% -772.86% -133.22% -62.86% -597.94%
Pre Tax Income Margin		 0.00% 0.00% -3,020.22% -5,391.03% -3,271.70% 0.00% -14,657.30% -1,490.92% -221.09% -13.88% -823.74%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 -24.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 -16.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 -24.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 -16.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -3.70% -3.82%

Financials Breakdown Chart

Key Financial Trends

Blaize Holdings (NASDAQ: BZAI) showed a sharp rebound in revenue in Q1 2026, but the company remains deeply unprofitable and continues to burn cash. The latest quarter featured $2.7 million in revenue, up from $1.9 million in Q2 2025 and well above the sub-$1 million levels seen in early 2024. However, operating expenses were still far above gross profit, leading to a large operating loss and another quarterly net loss.

  • Revenue improved to $2.74 million in Q1 2026, up from $1.98 million in Q2 2025 and $1.01 million in Q1 2025, showing the business is still generating growing top-line traction.
  • Gross profit of $1.58 million in Q1 2026 suggests the company can produce positive gross margins on its products.
  • Cash and equivalents were $33.2 million at March 31, 2026, giving Blaize some near-term liquidity.
  • Long-term debt appears relatively modest in the latest quarter, with $4.36 million in short-term debt and no large debt load disclosed beyond that.
  • Revenue has been volatile quarter to quarter, rising from very low levels in 2024 to a higher run-rate in 2025 and early 2026, but the pattern is still inconsistent.
  • The latest quarter included $834,000 in other income, which helped reduce the pre-tax loss, but this is not a core operating driver.
  • The share count remains high, with 122.4 million weighted average basic shares in Q1 2026, which can limit per-share upside if losses continue.
  • Operating expenses were $24.96 million in Q1 2026 versus just $1.58 million of gross profit, producing an operating loss of $23.39 million.
  • Net loss was still substantial at $22.65 million in Q1 2026, or -$0.19 per share, showing the company is far from profitability.
  • Operating cash flow was negative $12.63 million in Q1 2026, and cash declined by about $12.5 million during the quarter.

Longer-term trend: Blaize has made progress on revenue compared with 2024, when quarterly sales were mostly below $1 million, but losses have remained large and the business has not yet scaled enough to cover fixed costs. The balance sheet has also swung materially over the last year, reflecting financing activity and heavy cash usage. For retail investors, the key question is whether recent revenue growth can continue fast enough to narrow losses before liquidity becomes a concern.

07/17/26 10:31 AM ETAI Generated. May Contain Errors.

Blaize Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Blaize's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Blaize's net income appears to be on an upward trend, with a most recent value of -$206.90 million in 2025, falling from $1.67 million in 2022. The previous period was -$61.20 million in 2024. Find out what analysts predict for Blaize in the coming months.

Blaize's total operating income in 2025 was -$103.84 million, based on the following breakdown:
  • Total Gross Profit: $6.19 million
  • Total Operating Expenses: $110.04 million

Over the last 3 years, Blaize's total revenue changed from $0.00 in 2022 to $38.63 million in 2025, a change of 3,863,200,000.0%.

Blaize's total liabilities were at $63.21 million at the end of 2025, a 66.5% decrease from 2024, and a 487.3% increase since 2021.

In the past 4 years, Blaize's cash and equivalents has ranged from $0.00 in 2023 to $50.24 million in 2024, and is currently $45.78 million as of their latest financial filing in 2025.

Over the last 3 years, Blaize's book value per share changed from -0.27 in 2022 to 0.35 in 2025, a change of -232.5%.


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Financial statements for NASDAQ:BZAI last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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SPCX Warning - and Worst News for Stocks in 50 Years
Goldman Sachs and Morgan Stanley are now predicting what could be the worst news for the U.S. stock market in ...
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Ready to give options a try? Your first trade (Ticker included) -INSIDE
Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
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CODE RED: AI Meltdown Imminent?
After correctly predicting the 2008 and 2020 stock market meltdowns, I believe this AI company is about to tri...
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Elon’s new "tollbooth"
The SpaceX IPO was valued at $1.75 trillion. But one analyst says fighting over those shares may be the wrong ...
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