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Blaize Holdings (BZAI)
NASDAQ:BZAI
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Blaize Holdings
(NASDAQ:BZAI)
Rating:42Neutral
Price Target:
$2.50
▼(-0.79%Downside)
Blaize Holdings (BZAI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$256.24M
Dividend YieldN/A
Average Volume (3M)312.98K
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue GrowthN/A
EPS Growth-10774.57%
CountryUS
Employees232
SectorFinancial
Sector Strength77
IndustrySemiconductors
Share Statistics
EPS (TTM)-1.61
Shares Outstanding101,683,914
10 Day Avg. Volume289,560
30 Day Avg. Volume312,981
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)2.03
Price to Sales (P/S)0.00
P/FCF Ratio-27.06
Enterprise Value/Market Cap0.33
Enterprise Value/Revenue10.18
Enterprise Value/Gross Profit1.54K
Enterprise Value/Ebitda-0.51
Forecast
1Y Price Target
$5.83Price Target Upside131.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Blaize Holdings Business Overview & Revenue Model
Company DescriptionBlaize Holdings, Inc. provides artificial intelligence (AI)-enabled edge computing solutions. It offers AI edge computing products, including Blaize Pathfinder P1600 embedded system on modules, Blaize Xplorer X1600E EDSFF small form factor accelerators, Blaize Xplorer X600M M.2 small form factor accelerator platforms, Blaize Xplorer X1600P PCIe accelerators, Blaize Xplorer X1600P-Q PCIe accelerators, and Blaize Pathfinder 1600-DK embedded kits. The company also provides Blaize AI studio that delivers AI-driven application end-to-end data operations, development operations, and machine learning operation tools; and AI Studio marketplace, which allows users to browse and use AI/ML artifacts to run or share securely across their team and organization. It serves automotive, smart vision, and enterprise computing markets. The company was founded in 2010 and is headquartered in El Dorado Hills, California.
How the Company Makes Moneynull
Blaize Holdings Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q1-2025)
| % Change Since: -9.35%|
Next Earnings Date:Mar 26, 2026
Earnings Call Sentiment Neutral
While Blaize reported strong revenue growth and strategic partnerships, the significant net loss and high operating expenses present challenges. The positive aspects of new deployments and a growing pipeline are balanced by financial losses and increased cash burn.Q1-2025 Updates
Positive Updates
Revenue Growth
Revenue in the first quarter of 2025 was just over $1 million, up from $549,000 in the prior year, primarily due to shipments of PCI cards for smart city customers.
Strategic Partnerships and Deployments
Blaize has secured new partnerships with CBIST in South Korea and Turbo Federal in the US, advancing their AI chips and systems into real-world deployments across smart cities and defense sectors.
Introduction of Vertical AI Solution Platform
Blaize is developing a new turnkey vertical AI solution stack, which combines chip software and validated applications, expected to reduce deployment times by up to 50% and lower total cost of ownership by 60% for early adopters.
Strong Pipeline and Market Presence
The company's diversified global pipeline includes late-stage engagements across smart infrastructure, public safety, defense, and industrial automation, with a total pipeline of $400 million growing rapidly.
Negative Updates
Significant Net Loss
GAAP net loss for the first quarter of 2025 was $147.6 million, compared to a $16.7 million loss in the prior year, exacerbated by significant non-cash accounting adjustments related to the merger.
High Operating Expenses
Total operating expenses for the quarter were $39 million, including $12 million in non-recurring transaction costs and $11 million in non-cash share-based compensation.
Increased Cash Burn
Cash and cash equivalents decreased from $50.2 million to $45 million from December 31, 2024, to March 31, 2025, with an underlying cash used for operations of $13.1 million.
Company Guidance
During the 2025 earnings call, Blaize, Inc. provided forward-looking guidance highlighting their strategic growth and financial performance. The company anticipates revenue for the second quarter of 2025 to be between $1.5 million and $1.7 million, with a full fiscal year revenue projection ranging from $19 million to $50 million. For the first quarter of 2025, Blaize reported revenue of just over $1 million, surpassing expectations, with the cost of revenue at $327,000. The GAAP net loss for the quarter was $147.6 million, influenced by significant non-cash adjustments related to convertible notes and warrants. The adjusted EBITDA loss was $15.4 million, with expectations for improvement throughout 2025. Stock-based compensation charges were anticipated to be around $10 million for the next quarter. The company emphasized its strategic engagements with partners like CBIST and Turbo Federal and its plans to roll out a new vertical AI solution platform, signaling further revenue growth and enhanced operational efficiency through 2026.Blaize Holdings Financial Statement Overview
Summary
Blaize Holdings faces significant financial difficulties with a large net loss, negative EBIT and EBITDA margins, and negative cash flows. Although the balance sheet shows some strength in equity, profitability and cash management are critical areas requiring attention.Income Statement
Blaize Holdings' income statement reveals significant challenges in profitability, with a large net loss and negative EBIT and EBITDA margins. There is a positive gross profit margin for the latest year, but revenue growth is not applicable due to zero revenue in previous years. The company faces formidable hurdles in generating profits from its operations.30
Negative
Balance Sheet
The balance sheet indicates a relatively low debt-to-equity ratio, suggesting some degree of financial leverage. However, a declining total asset base and negative net income present concerns about the company's ability to generate returns. The equity ratio remains strong, reflecting a solid equity foundation despite recent losses.40
Negative
Cash Flow
Cash flow analysis shows negative free cash flow and operating cash flow, highlighting liquidity challenges. The operating cash flow to net income ratio indicates discrepancies between cash generation and reported earnings. Overall, cash management reflects a critical area requiring attention to support operational needs.25
Negative
| Breakdown | |||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|
| Income Statement | Total Revenue | ||
| 1.55M | 3.86M | 3.84M | 0.00 | Gross Profit |
| 975.00K | 200.00K | 806.00K | 0.00 | EBIT |
| -47.63M | -38.53M | -50.22M | -66.79K | EBITDA |
| -46.75M | -36.49M | -47.47M | 1.08K | Net Income Common Stockholders |
| -4.11M | -87.59M | -104.63M | -65.89K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||
| 1.51K | 144.00K | 4.91M | 1.54M | Total Assets |
| 48.32M | 72.59M | 19.28M | 293.74M | Total Debt |
| 1.50M | 21.23M | 4.81M | 144.75K | Net Debt |
| 1.50M | 21.23M | -107.00K | -1.39M | Total Liabilities |
| 24.08M | 41.44M | 89.82M | 10.76M | Stockholders Equity |
| 24.24M | 31.15M | -6.52M | 282.98M |
| Cash Flow | Free Cash Flow | ||
| -2.77M | -2.34M | -40.72M | 100.27K | Operating Cash Flow |
| -2.77M | -2.34M | -40.22M | 100.27K | Investing Cash Flow |
| 1.80M | 230.12M | -493.00K | -291.81M | Financing Cash Flow |
| 886.25K | -226.97M | 39.09M | 293.25M |
Blaize Holdings Technical Analysis
Negative
2.52
Price Trends
2.44
Negative
3.27
Negative
7.43
Negative
Market Momentum
>-0.01
Negative
50.91
Neutral
67.93
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 2.52 is above the 20-day moving average (MA) of 2.27, above the 50-day MA of 2.44, and below the 200-day MA of 7.43, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.91 is Neutral, neither overbought nor oversold. The STOCH value of 67.93 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 (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $178.24M | 19.36 | 56.45% | ― | ― | ― | |
65 Neutral | $12.93B | 9.81 | 7.84% | 78.03% | 12.20% | -7.74% | |
62 Neutral | $193.27M | 15.82 | 7.16% | ― | 10.74% | -26.67% | |
52 Neutral | $214.75M | 28.86 | 26.01% | ― | ― | ― | |
45 Neutral | $587.22M | ― | -73.54% | ― | ― | -280.78% | |
42 Neutral | $256.24M | ― | -375.37% | ― | ― | -10774.57% | |
| $228.13M | ― | -1.94% | ― | ― | ― |
* Financial Sector Average
Performance Comparison
BZAI
Blaize Holdings
2.43
-8.72
-78.21%
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HPAI
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4.75
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ANNA
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8.79
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FBLA
FB Bancorp, Inc.
11.17
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Blaize Holdings Corporate Events
Product-Related AnnouncementsBusiness Operations and Strategy
Blaize Holdings Unveils 2025-2026 Business Outlook
Positive
Feb 11, 2025
On February 10, 2025, Blaize Holdings announced updates to their business outlook and product pipeline for fiscal years 2025 and 2026, highlighting growing momentum in edge AI demand. The company projects revenues between $19 million and $140 million over these years, with significant investments in R&D. Blaize’s edge AI solutions span defense, smart cities, and automotive applications, leveraging partnerships with major automotive firms and offering innovative, cost-effective AI hardware and software solutions. This positions the company to capitalize on the increasing adoption of edge AI technologies across various sectors, potentially enhancing operational efficiencies and decision-making capabilities for its customers.
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.