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Blaize Holdings, Inc. provides artificial intelligence (AI)-enabled edge computing solutions. Its portfolio includes programmable AI processors in a broad range of form factors, deployable across several verticals, including smart city, defense, retail and enterprise markets; and AI computing platforms that enable applications, such as computer vision, advanced video analytics, and AI inference, as well as software tools that allows non-expert practitioners to deploy AI applications on its hardware without the need to learn or use source code. The company also offers the GSP, an AI computing accelerator for computer vision, machine learning, and AI applications; compute cards, such as peripheral component interconnected express card and other cards; software development kit; Blaize AI Studio, a visual no-code or low-code environment intended to simplify the creation and deployment of AI models; and strategic consulting services. Blaize Holdings, Inc. was founded in 2010 and is headquartered in El Dorado Hills, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $39M | $-91M | $-207M | $-75M | -530.5% | 2386.0% | 238.1% |
| 2024 | $2M | $-47M | $-61M | $-54M | 55.4% | - | -4669.7% |
| 2023 | $0M | $-3M | $1M | $-2M | 4.3% | -100.0% | -101.3% |
| 2022 | $4M | $-44M | $-105M | $-41M | 148.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3.84 | 0 | 1.55 | 38.63 |
| Operating Revenue | 3.59 | 0 | 1.55 | 38.63 |
| Cost Of Revenue | 3.04 | 3.66 | 0.58 | 32.44 |
| Gross Profit | 0.81 | 0.20 | 0.98 | 6.19 |
| Operating Expense | 47.76 | 3.38 | 48.39 | 97.99 |
| Research And Development | 24.30 | 18.11 | 25.09 | 42.52 |
| Selling General And Administration | 15.66 | 17.30 | 22.41 | 54.27 |
| Total Expenses | 50.80 | 3.38 | 48.97 | 130.43 |
| Operating Income | -46.96 | -3.38 | -47.42 | -91.80 |
| Total Operating Income As Reported | -50.22 | -3.38 | -47.64 | -103.84 |
| EBITDA | -44.31 | -3.38 | -46.53 | -90.60 |
| Normalized EBITDA | -44.66 | -3.38 | -30.59 | 25.28 |
| EBIT | -47.06 | -3.38 | -47.42 | -91.80 |
| Interest Income | - | 5.75 | 2.47 | - |
| Interest Expense | 57.04 | 38.98 | - | - |
| Net Interest Income | -57.04 | 5.75 | 2.47 | - |
| Other Non Operating Income Expenses | -0.46 | -9.79 | 1.21 | 0.99 |
| Other Income Expense | -0.10 | -10.79 | -14.73 | -114.89 |
| Interest Income Non Operating | - | 5.75 | 2.47 | - |
| Interest Expense Non Operating | 57.04 | 38.98 | - | - |
| Net Non Operating Interest Income Expense | -57.04 | 5.75 | 2.47 | - |
| Pretax Income | -104.10 | 2.37 | -62.15 | -206.69 |
| Tax Provision | 0.53 | 1.03 | -0.95 | 0.22 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0.07 | 0 | -0.24 | -24.34 |
| Net Income Continuous Operations | -104.63 | 1.34 | -61.20 | -206.90 |
| Net Income From Continuing And Discontinued Operation | -104.63 | 1.34 | -61.20 | -206.90 |
| Net Income From Continuing Operation Net Minority Interest | -104.63 | 1.34 | -61.20 | -206.90 |
| Net Income | -104.63 | 1.34 | -61.20 | -206.90 |
| Net Income Common Stockholders | -106.46 | 1.34 | -61.20 | -206.90 |
| Net Income Including Noncontrolling Interests | -104.63 | 1.34 | -61.20 | -206.90 |
| Normalized Income | -104.91 | 1.34 | -45.49 | -115.36 |
| Diluted NI Availto Com Stockholders | -106.46 | 1.34 | -61.20 | -206.90 |
| Basic Average Shares | 101.59 | 101.59 | 101.59 | 104.28 |
| Diluted Average Shares | 101.59 | 101.59 | 101.59 | 104.28 |
| Reconciled Depreciation | 2.75 | 2.04 | 0.89 | 1.20 |
| Reconciled Cost Of Revenue | 3.04 | 3.66 | 0.58 | 32.44 |
| Total Unusual Items | 0.35 | -1 | -15.94 | -115.88 |
| Total Unusual Items Excluding Goodwill | 0.35 | -1 | -15.94 | -115.88 |
| Preferred Stock Dividends | 1.82 | - | - | - |
| Special Income Charges | -2.19 | -0.10 | -0.22 | 105.07 |
| Other Special Charges | -1.07 | - | - | - |
| Restructuring And Mergern Acquisition | 3.26 | 0.10 | 0.22 | -105.07 |
| Gain On Sale Of Security | 2.54 | -0.90 | -15.72 | -220.95 |
| Depreciation Amortization Depletion Income Statement | 2.75 | 2.04 | 0.89 | 1.20 |
| Depreciation And Amortization In Income Statement | 2.75 | 2.04 | 0.89 | 1.20 |
| Other Operating Expenses | 5.04 | 3.04 | 4.77 | - |
| Depreciation Income Statement | - | - | 0.89 | 1.20 |
| Other Taxes | - | 0.34 | 0.21 | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Blaize Holdings, Inc.this co. | BZAI | $258M | -1.24 | 6.60 | -530.5% | -2.37 |
| The Hackett Group, Inc. | HCKT | $279M | 21.54 | 4.09 | 19.0% | 11.80 |
| Asure Software, Inc. | ASUR | $261M | -19.88 | 1.32 | -6.6% | 15.09 |
| Conduent Incorporated | CNDT | $259M | -1.52 | 0.38 | -24.8% | 10.57 |
| CS Disco, Inc. | LAW | $251M | -5.67 |
| 1.96 |
| -34.6% |
| -5.37 |
| Richardson Electronics, Ltd. | RELL | $251M | -219.31 | 1.60 | -0.7% | 32.74 |
| Aviat Networks, Inc. | AVNW | $250M | 186.71 | 0.95 | 0.5% | 15.93 |
| Turtle Beach Corporation | TBCH | $248M | 15.78 | 1.93 | 12.2% | 8.09 |
| Commerce.com, Inc. | CMRC | $235M | -12.14 | 5.97 | -49.1% | 55.05 |
| Peer Median | - | -3.59 | 1.77 | -3.7% | 13.45 | |