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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% | - |
| 2024 | $2M | $-47M | $-61M | $-54M | 55.4% | - | -4669.7% |
| 2023 | $0M | $-3M | $1M | $-2M | 4.3% | -100.0% | - |
| 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 |
| Cost Of Revenue | 3.04 | 3.66 | 0.58 | 32.44 |
| Gross Profit | 0.81 | 0.20 | 0.97 | 6.19 |
| Operating Expense | 47.76 | 3.38 | 48.39 | 97.99 |
| Operating Income | -46.95 | -3.38 | -47.42 | -91.80 |
| EBITDA | -44.31 | -3.38 | -46.53 | -90.60 |
| EBIT | -47.06 | -3.38 | -47.42 | -91.80 |
| Pretax Income | -104.10 | 2.37 | -62.15 | -206.69 |
| Tax Provision | 0.53 | 1.03 | -0.95 | 0.22 |
| Net Income | -104.63 | 1.34 | -61.20 | -206.90 |
| Net Income Common Stockholders | -106.45 | 1.34 | -61.20 | -206.90 |
| Total Expenses | 50.80 | 3.38 | 48.97 | 130.43 |
| Interest Expense | 57.04 | 38.98 | 0 | 0 |
| Interest Income | 0 | 5.75 | 2.47 | 0 |
| Research And Development | 24.30 | 18.11 | 25.09 | 42.52 |
| Selling General And Administration | 15.66 | 17.30 | 22.41 | 54.27 |
| Normalized EBITDA | -44.66 | -3.38 | -30.59 | 25.28 |
| Normalized Income | -104.91 | 1.34 | -45.49 | -115.36 |
| Basic EPS | -1.05 | 0.01 | -0.60 | -1.98 |
| Diluted EPS | -1.05 | 0.01 | -0.60 | -1.98 |
| Tax Effect Of Unusual Items | 0.07 | 0 | -0.24 | -24.34 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.01 | 0.21 |
| Total Unusual Items | 0.35 | -1 | -15.94 | -115.88 |
| Total Unusual Items Excluding Goodwill | 0.35 | -1 | -15.94 | -115.88 |
| Net Income From Continuing Operation Net Minority Interest | -104.63 | 1.34 | -61.20 | -206.90 |
| Reconciled Depreciation | 2.75 | 2.04 | 0.89 | 1.20 |
| Reconciled Cost Of Revenue | 3.04 | 3.66 | 0.58 | 32.44 |
| Net Interest Income | -57.04 | 5.75 | 2.47 | 0 |
| Net Income From Continuing And Discontinued Operation | -104.63 | 1.34 | -61.20 | -206.90 |
| Total Operating Income As Reported | -50.22 | -3.38 | -47.63 | -103.84 |
| Diluted Average Shares | 101.59 | 101.59 | 101.59 | 104.28 |
| Basic Average Shares | 101.59 | 101.59 | 101.59 | 104.28 |
| Diluted NI Availto Com Stockholders | -106.45 | 1.34 | -61.20 | -206.90 |
| Preferred Stock Dividends | 1.82 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -104.63 | 1.34 | -61.20 | -206.90 |
| Net Income Continuous Operations | -104.63 | 1.34 | -61.20 | -206.90 |
| Other Income Expense | -0.10 | -10.79 | -14.73 | -114.89 |
| Other Non Operating Income Expenses | -0.46 | -9.79 | 1.21 | 0.99 |
| Special Income Charges | -2.19 | -0.10 | -0.22 | 105.07 |
| Other Special Charges | -1.07 | 0 | 0 | 0 |
| 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 |
| Net Non Operating Interest Income Expense | -57.04 | 5.75 | 2.47 | 0 |
| Interest Expense Non Operating | 57.04 | 38.98 | 0 | 0 |
| Interest Income Non Operating | 0 | 5.75 | 2.47 | 0 |
| Other Operating Expenses | 5.04 | 3.04 | 4.77 | 0 |
| Other Taxes | 0 | 0.34 | 0.21 | 0 |
| 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 |
| Depreciation Income Statement | 0 | 0 | 0.89 | 1.20 |
| Operating Revenue | 3.59 | 0 | 1.55 | 38.63 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Blaize Holdings, Inc.this co. | BZAI | $234M | - | 5.97 | -530.5% | -2.12 |
| 8x8, Inc. | EGHT | $254M | - | 1.77 | -22.3% | 14.50 |
| Backblaze, Inc. | BLZE | $251M | - | 2.95 | -30.8% | -48.22 |
| Bakkt, Inc. | BKKT | $240M | - | 1.78 | -95.1% | -1.84 |
| Inseego Corp. | INSG | $240M | - | -56.24 |
| -20.7% |
| 43.80 |
| M-tron Industries, Inc. | MPTI | $233M | 24.96 | 3.42 | 13.4% | 18.05 |
| Commerce.com, Inc. | CMRC | $230M | - | 5.79 | -49.1% | 28.41 |
| Turtle Beach Corporation | TBCH | $223M | 14.60 | 1.68 | 12.2% | 8.87 |
| Nerdy Inc. | NRDY | $218M | - | 5.75 | -138.0% | -1.79 |
| Peer Median | - | 19.78 | 2.36 | -26.5% | 11.68 | |