Blaize Holdings, Inc. financials
Source: EDGAR filings · Built 2026-06-02T02:32:31Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|
| Free Cash Flow | -74.54M | -54.43M | — | — | — |
| Working Capital | 53.22M | -114.45M | -5.68M | -1.09M | 1.17M |
| Net Debt | -44.33M | 101.64M | 810.35K | — | -1.39M |
| Gross Margin | 16.03% | 62.74% | — | — | — |
| Operating Margin | -268.80% | -3065.32% | — | — | — |
| Net Margin | -535.58% | -3937.90% | — | — | — |
| Return on Equity (ROE) | -530.52% | 55.40% | -2.52% | -16.50% | 0.75% |
| Return on Assets (ROA) | -202.43% | -77.96% | 1.84% | 0.57% | -0.02% |
| Current Ratio | 2.23× | 0.39× | 0.82× | 0.16× | 2.67× |
| Debt-to-Equity | 0.04× | -1.37× | -0.02× | — | -0.02× |
| Effective Tax Rate | -0.10% | 1.53% | 43.42% | 32.12% | — |
| Cash Conversion Ratio | 0.36× | 0.87× | -1.74× | -0.82× | -1.52× |
| Accruals Ratio | -1.30× | -0.10× | 0.05× | 0.01× | -0.00× |
| SBC % of Revenue | 97.19% | 247.55% | — | — | — |
| CapEx Coverage | -93.59× | -59.35× | — | — | — |
| Free Cash Flow Per Share | $-0.71 | $-3.11 | — | — | — |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 38.63M | 1.55M | — | — | — |
| Cost of Revenue | 32.44M | 579.00K | — | — | — |
| Gross Profit | 6.19M | 975.00K | — | — | — |
| Research and Development Expense | 42.52M | 25.09M | — | — | — |
| Operating Expenses | 110.03M | 48.61M | — | — | — |
| Operating Income (Loss) | -103.84M | -47.63M | -3.38M | -1.52M | -66.79K |
| Income Tax Expense (Benefit) | 217.00K | -952.00K | 1.03M | 791.76K | — |
| Net Income (Loss) Attributable to Parent | -206.90M | -61.20M | 1.34M | 1.67M | -65.89K |
| Earnings Per Share, Basic | $-1.98 | $-3.50 | — | — | — |
| Weighted Average Number of Shares Outstanding, Basic | 104.28M | 17.48M | — | — | — |
| Earnings Per Share, Diluted | $-1.98 | $-3.50 | — | — | — |
| Weighted Average Number of Shares Outstanding, Diluted | 104.28M | 17.48M | — | — | — |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 45.78M | 50.24M | 0 | 22.23K | 1.54M |
| Assets, Current | 96.61M | 71.67M | 25.70M | 208.76K | 1.87M |
| Assets | 102.21M | 78.50M | 72.59M | 296.01M | 293.74M |
| Liabilities, Current | 43.39M | 186.12M | 31.38M | 1.30M | 700.00K |
| Liabilities | 63.21M | 188.96M | 41.44M | 11.36M | 10.76M |
| Stockholders' Equity Attributable to Parent | 39.00M | -110.46M | -53.21M | -10.14M | -8.83M |
| Common Stock, Shares, Outstanding | 122.04M | 48.38M | — | — | — |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2022 |
|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -73.75M | -53.53M | -2.34M | -1.37M | 100.27K |
| Payments to Acquire Property, Plant, and Equipment | 788.00K | 902.00K | — | — | — |
| Net Cash Provided by (Used in) Investing Activities | -788.00K | -902.00K | 230.12M | — | -291.81M |
| Net Cash Provided by (Used in) Financing Activities | 70.10M | 101.71M | -226.97M | -144.75K | 293.25M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -12.75M | -16.54M | -58.00M | -33.05M | -16.61M | -17.48M |
| EBITDA | — | — | -22.22M | -21.43M | -37.83M | — |
| Working Capital | 38.84M | 53.22M | 17.98M | 7.80M | 55.10M | -114.45M |
| Net Debt | -31.98M | -44.33M | -22.38M | -27.16M | -43.38M | 101.64M |
| Gross Margin | 57.56% | 10.77% | 14.97% | 59.43% | 67.53% | 46100.00% |
| Operating Margin | -854.20% | -89.80% | -190.32% | -1104.09% | -3775.67% | -1699500.00% |
| Net Margin | -827.36% | -13.86% | -221.27% | -1492.89% | -14673.39% | -669200.00% |
| Return on Equity (ROE) | -89.03% | -8.45% | -2010.57% | 615.16% | -884.27% | 6.06% |
| Return on Assets (ROA) | -32.02% | -3.22% | -43.11% | -54.97% | -147.46% | -8.53% |
| Current Ratio | 2.46× | 2.23× | 1.49× | 1.20× | 2.43× | 0.39× |
| Debt-to-Equity | 0.05× | 0.04× | 1.25× | -0.30× | 0.10× | -1.37× |
| Effective Tax Rate | -0.44% | 0.15% | -0.08% | -0.13% | -0.11% | 16.27% |
| Cash Conversion Ratio | 0.56× | 4.99× | 2.18× | 1.09× | 0.11× | 2.65× |
| Accruals Ratio | -0.14× | 0.13× | 0.51× | 0.05× | -1.32× | 0.14× |
| SBC % of Revenue | 326.81% | 39.76% | 79.94% | 381.74% | 1096.33% | 280500.00% |
| CapEx Coverage | -108.88× | -203.22× | -81.03× | -47.54× | -24.12× | 67.47× |
| Free Cash Flow Per Share | $-0.10 | $-0.16 | $-0.56 | $-0.32 | $-0.18 | $-1.00 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 2.74M | 23.78M | 11.87M | 1.98M | 1.01M | 1.00K |
| Revenues | — | — | 11.87M | 1.98M | 1.01M | — |
| Cost of Revenue | 1.16M | 21.22M | 10.09M | 804.00K | 327.00K | -460.00K |
| Gross Profit | 1.58M | 2.56M | 1.78M | — | 680.00K | 461.00K |
| Research and Development Expense | 9.68M | 10.12M | 9.68M | 9.61M | 13.12M | 9.33M |
| Selling, General and Administrative Expense | — | — | 14.32M | 12.99M | 13.36M | — |
| Operating Expenses | 24.96M | — | — | — | 38.70M | — |
| Operating Income (Loss) | -23.39M | -21.35M | -22.59M | -21.88M | -38.02M | -17.00M |
| Income Tax Expense (Benefit) | 99.00K | -5.00K | 21.00K | 39.00K | 162.00K | -1.30M |
| Net Income (Loss) Attributable to Parent | -22.65M | -3.30M | -26.26M | -29.59M | -147.76M | -6.69M |
| Earnings Per Share, Basic | $-0.19 | $0.05 | $-0.25 | $-0.28 | $-1.61 | $-0.38 |
| Weighted Average Number of Shares Outstanding, Basic | 122.38M | 104.28M | 103.59M | 104.59M | 91.75M | 17.48M |
| Earnings Per Share, Diluted | $-0.19 | $0.05 | $-0.25 | $-0.28 | $-1.61 | $-0.38 |
| Weighted Average Number of Shares Outstanding, Diluted | 122.38M | 104.28M | 103.59M | 104.59M | 91.75M | 17.48M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 33.22M | 45.78M | 24.00M | 28.59M | 44.97M | 50.24M |
| Assets, Current | 65.38M | 96.61M | 54.78M | 47.41M | 93.54M | 71.67M |
| Assets | 70.75M | 102.21M | 60.90M | 53.83M | 100.20M | 78.50M |
| Liabilities, Current | 26.54M | 43.39M | 36.80M | 39.61M | 38.44M | 186.12M |
| Liabilities | 45.31M | 63.21M | 59.60M | 58.64M | 50.43M | 188.96M |
| Stockholders' Equity Attributable to Parent | 25.45M | 39.00M | 1.31M | -4.81M | 16.71M | -110.46M |
| Common Stock, Shares, Outstanding | 122.75M | 122.04M | 106.75M | 98.88M | 98.82M | 48.38M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -12.63M | -16.46M | -57.29M | -32.37M | -15.94M | -17.74M |
| Payments to Acquire Property, Plant, and Equipment | 116.00K | 81.00K | 707.00K | 681.00K | 661.00K | -263.00K |
| Net Cash Provided by (Used in) Investing Activities | -116.00K | -81.00K | -707.00K | -681.00K | -661.00K | 263.00K |
| Net Cash Provided by (Used in) Financing Activities | 58.00K | 38.33M | 31.77M | 11.43M | 11.34M | -671.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (BZAI CIK 0001871638),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.