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Blaize Holdings (BZAI)
NASDAQ:BZAI
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Blaize Holdings (BZAI) AI Stock Analysis

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BZAI

Blaize Holdings

(NASDAQ:BZAI)

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Neutral 46 (OpenAI - 4o)
Rating:46Neutral
Price Target:
$2.00
▼(-16.67% Downside)
Blaize Holdings' overall score is driven by strong revenue growth and strategic partnerships, as highlighted in the earnings call. However, significant financial performance challenges and bearish technical indicators weigh heavily on the score.
Positive Factors
Revenue Growth
The significant revenue growth indicates strong demand for Blaize's products, suggesting a robust market position and potential for continued expansion.
Strategic Partnerships
These partnerships enhance Blaize's market presence in the Middle East, potentially leading to increased sales and market penetration in a growing region.
Investment and Financial Position
The investment strengthens Blaize's financial position, enabling continued R&D and operational funding, crucial for sustaining long-term growth.
Negative Factors
Profitability Challenges
Negative margins indicate high operational costs, which could hinder profitability and require strategic cost management to achieve financial stability.
High Leverage
High leverage increases financial risk and limits flexibility, potentially impacting Blaize's ability to invest in growth opportunities.
Cash Flow Challenges
Negative cash flows suggest liquidity issues, which could constrain Blaize's operations and investment capacity without improved cash management.

Blaize Holdings (BZAI) vs. SPDR S&P 500 ETF (SPY)

Blaize Holdings Business Overview & Revenue Model

Company DescriptionBlaize Holdings (BZAI) is a technology company specializing in the development and delivery of advanced edge computing solutions. The company operates primarily in the artificial intelligence and machine learning sectors, providing hardware and software platforms that facilitate real-time data processing and analytics. Blaize Holdings focuses on delivering innovative products designed for industries such as automotive, healthcare, and smart cities, enabling businesses to harness the power of AI for enhanced operational efficiency and decision-making.
How the Company Makes MoneyBlaize Holdings generates revenue through multiple streams, primarily by selling its proprietary edge computing hardware and software solutions. The company offers various products, including AI-optimized processors and integrated software platforms that enable clients to deploy machine learning applications at the edge. Additionally, Blaize engages in partnerships with technology firms and system integrators, allowing it to extend its market reach and create bundled offerings that enhance its value proposition. The company may also derive income from subscription-based services or licensing agreements for its software, contributing to recurring revenue. Furthermore, strategic collaborations with industry leaders help Blaize secure large-scale contracts, significantly boosting its earnings potential.

Blaize Holdings Earnings Call Summary

Earnings Call Date:Nov 13, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Mar 26, 2026
Earnings Call Sentiment Positive
The earnings call for Blaize Holdings, Inc. showcased substantial revenue growth and strategic progress through new partnerships and investments. Despite the decline in gross margins and continued EBITDA losses, the company's financial position and expansion plans indicate a strong growth trajectory heading into 2026.
Q3-2025 Updates
Positive Updates
Record Revenue Growth
Blaize Holdings, Inc. reported revenue of $11.9 million for Q3 2025, marking a 499% sequential increase from Q2. This exceeded the upper end of their guidance by $400,000.
Strong Investment and Financial Position
Secured a $30 million investment from Polar Asset Management Partners to support the company's growth and next-generation chip development. This positions the company to fund operations well into 2024 with a cash balance of over $60 million.
Strategic Partnerships
Announced collaborations with Technology Control Company (TCC) in Saudi Arabia and Reach Digital in the UAE, enhancing their presence in the Middle East and supporting regional infrastructure initiatives.
Expansion in AI Infrastructure
Highlighted significant projects such as the $120 million Starshine Hybrid AI infrastructure for smart city development in Asia and public safety rollouts in India.
Operational Efficiency
Exceeded Q3 adjusted EBITDA loss guidance by $2 million, reflecting better-than-expected execution and stronger operational discipline.
Negative Updates
Gross Margin Decline
Gross margin decreased to 15% this quarter compared to 59% in 2025, primarily due to higher third-party hardware components in the Starshine contract.
Increased Operating Expenses
Sales and general and administrative costs increased by $3.6 million year-over-year, reflecting an increase in operating expenses as the company scales.
Continued EBITDA Loss
Reported an adjusted EBITDA loss of $11.1 million, though it was an improvement over previous quarters.
Company Guidance
During the third quarter of 2025, Blaize Holdings, Inc. reported significant achievements, including a revenue of $11.9 million, marking a 499% increase from the previous quarter. The company anticipates doubling its revenue in Q4. They secured a $30 million investment from Polar Asset Management Partners to support growth and development. Key partnerships were established with Technology Control Company and Reach Digital, enhancing Blaize's presence in the Middle East. The Starshine Hybrid AI infrastructure initiative contributed approximately $10.4 million to Q3 revenue, with a focus on smart city development across Asia. Blaize's gross margin was reported at 15%, with efforts underway to improve margins by replacing third-party GPUs with their proprietary GSP cards. The company's Q3 adjusted EBITDA loss was $11.1 million, a $2 million outperformance against guidance. Blaize projects Q4 revenue to range between $21.1 million and $23.1 million. Looking forward, they expect sustained growth into 2026, with a focus on expanding practical AI solutions globally.

Blaize Holdings Financial Statement Overview

Summary
Blaize Holdings shows rapid revenue growth but faces significant profitability and cash flow challenges. High leverage and negative margins pose risks, requiring strategic improvements for stabilization.
Income Statement
30
Negative
Blaize Holdings shows significant revenue growth in the TTM, but this is overshadowed by substantial negative margins across the board, indicating persistent profitability challenges. The gross profit margin is low, and the net profit margin is deeply negative, reflecting high operational costs relative to revenue.
Balance Sheet
40
Negative
The company's balance sheet reveals a high debt-to-equity ratio in the TTM, suggesting increased leverage and financial risk. The return on equity is negative, indicating that the company is not generating profits from its equity base. However, the equity ratio is relatively stable, showing some level of asset backing.
Cash Flow
35
Negative
Cash flow analysis shows negative operating and free cash flows, with a slight improvement in free cash flow growth. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is slightly above 1, suggesting some alignment between cash flow and accounting profits.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue13.30M1.55M3.86M3.84M0.00
Gross Profit1.72M975.00K200.00K806.00K0.00
EBITDA-32.05M-46.75M-36.49M-47.47M-65.89K
Net Income-153.22M-61.20M-87.59M-104.63M-65.89K
Balance Sheet
Total Assets60.90M48.32M72.59M19.28M293.74M
Cash, Cash Equivalents and Short-Term Investments24.00M1.51K0.004.91M1.54M
Total Debt3.13M1.50M21.23M4.81M144.75K
Total Liabilities59.60M24.08M41.44M89.82M10.76M
Stockholders Equity1.31M24.24M31.15M-70.54M282.98M
Cash Flow
Free Cash Flow-58.27M-54.43M-2.34M-40.72M100.27K
Operating Cash Flow-57.56M-53.53M-2.34M-40.22M100.27K
Investing Cash Flow-22.32M-902.00K230.12M-493.00K-291.81M
Financing Cash Flow54.34M101.71M-226.97M39.09M293.25M

Blaize Holdings Technical Analysis

Technical Analysis Sentiment
Negative
Last Price2.40
Price Trends
50DMA
3.78
Negative
100DMA
3.69
Negative
200DMA
3.24
Negative
Market Momentum
MACD
-0.48
Positive
RSI
32.91
Neutral
STOCH
37.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BZAI, the sentiment is Negative. The current price of 2.4 is below the 20-day moving average (MA) of 2.89, below the 50-day MA of 3.78, and below the 200-day MA of 3.24, indicating a bearish trend. The MACD of -0.48 indicates Positive momentum. The RSI at 32.91 is Neutral, neither overbought nor oversold. The STOCH value of 37.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BZAI.

Blaize Holdings Risk Analysis

Blaize Holdings disclosed 15 risk factors in its most recent earnings report. Blaize Holdings reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Nasdaq Rule 5815 was amended effective October 7, 2024 to provide for the immediate suspension and delisting for failure to meet the 36-month requirement in Nasdaq Rule IM 5101-2(b) to complete a business combination, and our securities will face an immediate suspension and delisting action once we receive a delisting determination letter from Nasdaq after the 36-month window ends on December 10, 2024 Q3, 2024

Blaize Holdings Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
64
Neutral
$706.76M5.65101.23%0.19%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
52
Neutral
$495.01M-4.22%5.55%-239.94%
51
Neutral
$165.98M-23.56%7.53%-15.00%
50
Neutral
$602.40M20.45%12.28%
49
Neutral
$266.43M38.161.74%-10.74%
46
Neutral
$266.37M-1331.73%-1827.24%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
BZAI
Blaize Holdings
2.40
-9.07
-79.08%
CEVA
Ceva
20.61
-9.13
-30.70%
VLN
Valens
1.57
-0.40
-20.30%
SKYT
SkyWater Technology
14.57
6.63
83.50%
AIP
Arteris
13.79
5.10
58.69%
XPER
Xperi Inc
5.74
-3.73
-39.39%

Blaize Holdings Corporate Events

Blaize Holdings, Inc. Reports Robust Q3 Growth
Nov 15, 2025

Blaize Holdings, Inc. recently held its earnings call, revealing a dynamic blend of substantial revenue growth and strategic advancements. Despite facing challenges such as declining gross margins and ongoing EBITDA losses, the company remains optimistic about its financial health and ambitious expansion plans, setting a promising course toward 2026.

Blaize Holdings Reports Strong Q3 2025 Performance
Nov 14, 2025

Blaize Holdings, Inc., a leader in programmable, energy-efficient edge AI computing, specializes in delivering Practical AI solutions through its hybrid AI inference platform designed for real-world applications. In its third quarter of 2025, Blaize reported revenue of $11.9 million, surpassing its guidance range, and secured $30 million in financing from Polar Asset Management Partners. The company experienced a remarkable 499% sequential revenue growth, driven by the expanding adoption of its Hybrid AI platform across key regions, and strengthened its partnerships in South Asia and the Middle East. Despite a net loss of $26.3 million, Blaize’s strategic investments and collaborations, including a significant contract with Starshine in Asia and partnerships with TCC and REACH Digital in the Middle East, highlight its commitment to expanding its AI infrastructure. Looking ahead, Blaize anticipates continued momentum into the fourth quarter of 2025 and fiscal year 2026, focusing on disciplined execution, platform-driven revenue growth, and strong customer demand, as it aims to accelerate the commercialization of Practical AI globally.

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Blaize Holdings Secures $30M Investment for AI Growth
Positive
Nov 12, 2025

On November 11, 2025, Blaize Holdings announced a $30 million private placement led by Polar Asset Management Partners. This investment aims to fuel the growth and commercialization of Blaize’s AI platform across key verticals in growth markets and support the development of its next-generation chip. The company expects the proceeds, along with other funding sources, to support its core operations into the second half of 2026. Additionally, Blaize reported preliminary financial results for the third quarter of 2025, with expected revenue of approximately $11.9 million and a net loss of around $26.3 million. The company also recognized significant revenue from its first product shipment to Starshine Computing Power Technology Limited.

The most recent analyst rating on (BZAI) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on Blaize Holdings stock, see the BZAI Stock Forecast page.

Executive/Board Changes
Blaize Holdings Grants CFO Stock Options
Neutral
Sep 2, 2025

On September 1, 2025, Blaize Holdings, Inc. granted its Chief Financial Officer, Harminder Sehmi, an option to purchase 200,000 shares of the company’s common stock at an exercise price of $3.57 per share. This decision was made under the company’s 2025 Incentive Award Plan as a reward for his significant contributions. The stock option will vest in equal parts over the next two years, contingent upon Mr. Sehmi’s continued service with the company.

The most recent analyst rating on (BZAI) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Blaize Holdings stock, see the BZAI Stock Forecast page.

Blaize Holdings Reports Strong Growth Amid Challenges
Sep 1, 2025

Blaize Holdings, Inc. recently held its earnings call, revealing a mixed sentiment characterized by strong revenue growth and significant contract wins, yet tempered by a substantial net loss and anticipated short-term margin dips. Despite these challenges, the company remains optimistic about its future, buoyed by a robust pipeline and new platform deployments.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 20, 2025