Blaize Holdings, Inc.
Blaize Holdings, Inc.
Blaize Holdings, Inc. (BZAI) — SEC Financial Statements & Analysis
Blaize Holdings, Inc. (BZAI) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Working Capital Loan | 2 | 2 | - | - | - | 0 | - | - | - | - | - | - | |||||
Advances From Related Party | 3 | 3 | - | - | - | 0 | - | - | - | - | - | - | |||||
Nonrelated Party | 2 | 1 | - | - | - | 0 | - | - | - | - | - | - | |||||
Related Party | 2 | 1 | 0 | 0 | - | 0 | - | - | - | - | - | - | |||||
Preferred Stock Par Or Stated Value Per Share | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Authorized | - | - | - | - | - | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Assets | |||||||||||||||||
Restricted Cash Current | - | - | - | - | - | 1 | 0 | 0 | 0 | 1 | - | - | |||||
Assets Held In Trust Current | - | - | - | - | - | - | - | - | - | 25 | - | - | |||||
Assets Current | |||||||||||||||||
Common Classa Not Subject To Redemption | - | - | - | - | - | - | -0 | 0 | 11 | 11 | 0 | -3 | |||||
Cash And Cash Equivalents At Carrying Value | 33 | 46 | 24 | 29 | 45 | 50 | 69 | 87 | 7 | 0 | 0 | 1 | |||||
Other Assets Current | - | - | - | - | - | - | - | - | - | - | 0 | 0 | |||||
Receivables Net Current | - | - | 10 | 1 | 1 | - | - | - | - | - | - | - | |||||
Inventory Net | 9 | 10 | 9 | 8 | 10 | 9 | - | - | - | - | - | - | |||||
Assets Held In Trust Noncurrent | - | - | - | - | - | 48 | 50 | 49 | 48 | 47 | 71 | 70 | |||||
Prepaid Expense And Other Assets Current | 6 | 4 | 8 | 7 | 4 | 13 | 0 | 0 | 0 | - | - | - | |||||
Assets Current | 65 | 97 | 55 | 47 | 94 | 72 | 0 | 0 | 0 | 26 | 0 | 1 | |||||
Property Plant And Equipment Net | 1 | 1 | 1 | 2 | 2 | 2 | - | - | - | - | - | - | |||||
Deferred Income Tax Assets Net | 2 | 2 | 2 | 2 | 2 | 2 | - | - | - | - | - | - | |||||
Operating Lease Right Of Use Asset | 1 | 2 | 2 | 1 | 2 | 2 | - | - | - | - | - | - | |||||
Other Assets Noncurrent | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | - | - | |||||
Assets | 71 | 102 | 61 | 54 | 100 | 78 | 50 | 49 | 48 | 73 | 71 | 71 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Notes Payable | - | - | - | - | - | - | - | - | - | - | 0 | 0 | |||||
Notes Payable Current | - | - | - | - | - | 2 | 2 | 2 | 2 | 1 | - | - | |||||
Liabilities Current | |||||||||||||||||
Other Liabilities Current | - | - | - | - | - | 3 | 2 | 1 | 0 | 0 | - | - | |||||
Accounts Payable Current | - | - | 15 | 17 | 17 | - | - | - | - | - | - | - | |||||
Accrued Liabilities And Other Liabilities | - | - | 11 | 13 | 12 | - | - | - | - | - | - | - | |||||
Accounts Payable Trade Current | 2 | 23 | - | - | - | 0 | - | - | - | - | - | - | |||||
Accrued Liabilities Current | 7 | 7 | - | - | 7 | 14 | 3 | 3 | 2 | 2 | 1 | - | |||||
Payable Common Stock Redeemed | - | - | - | - | - | - | - | - | - | 25 | - | - | |||||
Employee Related Liabilities Current | 3 | - | 3 | 2 | 3 | - | - | - | - | - | - | - | |||||
Accrued Income Taxes Current | 0 | 0 | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | |||||
Derivative Liabilities Current | - | - | - | - | - | 1 | 0 | 0 | - | - | - | - | |||||
Sales And Excise Tax Payable Current | - | - | - | - | - | 3 | 3 | 3 | 3 | 3 | 2 | 2 | |||||
Operating Lease Liability Current | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | - | - | |||||
Liabilities Current | 27 | 43 | 37 | 40 | 38 | 186 | 10 | 8 | 7 | 31 | 5 | 5 | |||||
Operating Lease Liability Noncurrent | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | - | - | |||||
Derivative Liabilities | - | - | - | 17 | 10 | - | - | - | - | - | - | - | |||||
Derivative Liabilities Noncurrent | 8 | 9 | - | - | - | - | - | - | - | - | - | - | |||||
Other Liabilities Noncurrent | 1 | 1 | 1 | 1 | 1 | 2 | - | - | - | - | - | - | |||||
Liabilities | 45 | 63 | 60 | 59 | 50 | 189 | 20 | 19 | 17 | 41 | 15 | 15 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Temporary Equity Carrying Amount Attributable To P… | - | - | - | - | 33 | - | - | - | - | - | - | - | |||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | |||||
Stockholders Equity | |||||||||||||||||
Additional Paid In Capital | 684 | 675 | 634 | 610 | 602 | 319 | 0 | - | - | 0 | - | - | |||||
Receivable From Shareholders Or Affiliates For Iss… | - | - | - | -9 | -9 | - | - | - | - | - | - | - | |||||
Accumulated Other Comprehensive Income Loss Net Of… | 0 | - | - | - | - | - | - | - | - | - | - | - | |||||
Retained Earnings Accumulated Deficit | -659 | -636 | -633 | -607 | -577 | -429 | -20 | -18 | -17 | -16 | -14 | -14 | |||||
Common Class B | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Stockholders Equity | 25 | 39 | 1 | -5 | 17 | -110 | -107 | -81 | -70 | -16 | -14 | -14 | |||||
Liabilities And Stockholders Equity | 71 | 102 | 61 | 54 | 100 | 78 | 50 | 49 | 48 | 73 | 71 | 71 | |||||
Common Class A | - | - | - | - | 15 | 0 | -0 | 0 | 11 | 0 | 0 | 0 | |||||
Common Classa Subject To Redemption | - | - | - | - | - | - | 0 | 0 | 4 | 0 | 0 | 7 | |||||
Common Class A Subject To Redemption | - | - | - | - | 3 | 4 | - | - | - | 4 | - | - | |||||
Common Class A Not Subject To Redemption | - | - | - | - | - | 11 | - | - | - | 11 | - | - | |||||
Temporary Equity Shares Outstanding | - | - | - | - | 3 | - | - | - | - | - | - | - | |||||
Temporary Equity Redemption Price Per Share | - | - | - | - | 33,061 | - | - | - | - | - | - | - | |||||
Common Stock Par Or Stated Value Per Share | 0 | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | |||||
Preferred Stock Shares Issued | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Shares Authorized | 600 | 600 | 600 | 600 | 600 | 683 | - | - | - | - | - | - | |||||
Common Stock Shares Issued | 368 | 366 | 320 | 297 | 296 | 242 | - | - | - | - | - | - | |||||
Preferred Stock Shares Outstanding | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Shares Outstanding | 368 | 366 | 320 | 297 | 296 | 242 | - | - | - | - | - | - | |||||
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Interactive Financial Visualizations
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -6.21% | -24.29% | - | - | - | - | - | - | - | - | - | - |
| 2025 | -8.27% | 1.44% | 35.97% | -17.72% | 3.97% | 3.44% | -5.12% | -18.50% | -46.46% | 127.03% | 18.02% | 32.43% |
| 2024 | 0.00% | 0.58% | 0.72% | 0.82% | 1.07% | 1.70% | 1.15% | 22.57% | -42.42% | -20.52% | -16.94% | -8.14% |
| 2023 | 1.36% | 2.33% | 1.95% | -0.48% | 0.29% | 0.76% | 0.38% | 1.04% | 1.69% | 0.09% | -0.36% | 0.22% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 2.46 | 2.23 | 1.49 | 1.20 | 2.43 | 0.39 | 0.02 | 0.02 | 0.04 | 0.82 | 0.01 | 0.28 | |||||
| Quick Ratio | 1.88 | 1.90 | 1.02 | 0.81 | 2.07 | 0.27 | 0.01 | 0.02 | 0.03 | 0.82 | 0.01 | 0.28 | |||||
| Working Capital | 38.84M | 53.22M | 17.99M | 7.80M | 55.11M | -114.45M | -10.19M | -8.28M | -6.66M | -5.68M | -4.46M | -3.55M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 1.78 | 1.62 | 45.63 | -12.19 | 3.02 | -1.71 | -0.19 | -0.23 | -0.24 | -2.62 | -1.02 | -1.10 | |||||
| Debt Ratio | 0.64 | 0.62 | 0.98 | 1.09 | 0.50 | 2.41 | 0.41 | 0.38 | 0.35 | 0.57 | 0.21 | 0.21 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.47 | 0.43 | 0.27 | 0.07 | 0.03 | 0.02 | 0.03 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | |||||
| Days Sales Outstanding TTM | - | - | 251.03 | 126.80 | 182.86 | - | - | - | - | - | - | - | |||||
| Receivables Turnover TTM | - | - | 1.45 | 2.88 | 2.00 | - | - | - | - | - | - | - | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -0.67 | -1.98 | -2.03 | -2.00 | -2.10 | -0.70 | -0.63 | -0.43 | -0.25 | 0.03 | 0.08 | 0.10 | |||||
| Free Cash Flow Per Share TTM | -0.58 | -0.71 | -0.73 | -0.63 | -0.70 | -0.63 | -0.43 | -0.34 | -0.14 | -0.04 | -0.08 | -0.04 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 20.48% | 19.08% | 28.97% | 75.13% | 80.57% | 76.19% | - | - | - | - | - | - | |||||
| Operating Profit Margin TTM | -221.01% | -268.80% | -669.61% | -2,340.68% | -3,852.83% | -3,065.32% | -2,050.54% | -2,746.70% | -1,935.52% | - | - | - | |||||
| Net Profit Margin TTM | -202.65% | -535.58% | -1,415.49% | -5,559.51% | -9,553.33% | -3,937.90% | -3,531.28% | -3,786.32% | -3,092.65% | - | - | - | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 1,906.11% | 2,385.97% | 856.66% | 388.47% | 266.48% | - | - | - | - | - | - | - | |||||
| Net Income Growth (1Y) | -57.45% | 238.11% | 283.47% | 617.23% | 1,032.09% | -4,669.72% | -2,136.99% | -972.35% | -607.53% | -19.98% | - | - | |||||
| EPS Growth (1Y) | -68.10% | 183.33% | 223.52% | 367.11% | 739.88% | -2,866.05% | -872.76% | -525.67% | -353.27% | -36.04% | - | - | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -2.72 | -0.98 | -1.70 | -1.49 | -0.96 | -21.42 | -17.98 | -25.91 | -44.46 | 423.80 | 130.04 | 103.66 | |||||
| P/B | 8.75 | 5.21 | 273.64 | -64.80 | 11.09 | -11.87 | -9.25 | -9.31 | -10.84 | -35.83 | -24.47 | -25.48 | |||||
| P/S TTM | 5.52 | 5.26 | 24.05 | 82.65 | 92.11 | 843.44 | 634.76 | 981.15 | 1,374.97 | - | - | - | |||||
| Market Cap | 222.74M | 203.34M | 357.37M | 311.67M | 185.33M | 1.31B | 985.78M | 757.44M | 754.86M | 567.52M | 350.10M | 347.33M | |||||
| Enterprise Value | 189.25M | 157.29M | 333.11M | 282.81M | 140.36M | 1.26B | 918.64M | 671.58M | 749.31M | 568.33M | 350.20M | 346.16M | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -70.68M | -74.54M | -76.00M | -66.31M | -64.22M | -55.15M | -37.32M | -23.34M | -9.26M | -2.34M | -2.62M | -1.49M | |||||
| Net Debt | -33.48M | -46.05M | -24.26M | -28.86M | -44.97M | -48.99M | -67.14M | -85.86M | -5.55M | 810.35K | 99.62K | -1.17M | |||||
Per-Share and Margin | |||||||||||||||||
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Growth Rates | |||||||||||||||||
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Credit, Liquidity, Returns, Payout | |||||||||||||||||
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