Blaize Holdings, Inc. Warrants (BZAIW) Financials
Newest figures come from the 10-K for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BZAIW SEC filings page.
Blaize Holdings, Inc. Warrants (BZAIW) reported $50.4M in revenue over the twelve months to Jun 30, 2026, up 955.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue scaled rapidly, but gross-margin compression and operating costs converted expansion into deeper losses and continued external cash dependence.
Cash conversion diverged sharply from reported earnings: FY2025 operating cash flow was-$73.8M , close to free cash flow of-$74.5M , so capital spending was not the main cash drain. The much larger net loss of-$206.9M than operating cash outflow indicates that accounting losses included substantial noncash or non-operating effects not identified in the supplied figures.
FY2025 revenue reached
The liquidity profile improved: the current ratio reached 2.2x in FY2025 versus 0.4x in FY2024. Financing cash flow was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Blaize Holdings, Inc. Warrants's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Blaize Holdings, Inc. Warrants's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 12/100.
Blaize Holdings, Inc. Warrants's revenue surged 2386.0% year-over-year to $38.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Blaize Holdings, Inc. Warrants has a moderate D/E ratio of 1.62. This balance of debt and equity financing earns a leverage score of 36/100.
With a current ratio of 2.23, Blaize Holdings, Inc. Warrants holds $2.23 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.
Blaize Holdings, Inc. Warrants's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Blaize Holdings, Inc. Warrants posts a -530.5% return on equity (ROE), meaning it loses $531 for every $100 of shareholders' equity. This results in a returns score of 10/100.
Blaize Holdings, Inc. Warrants passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Blaize Holdings, Inc. Warrants reported a net loss of $206.9M while operations used $73.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Blaize Holdings, Inc. Warrants generated $12.0M in revenue in Q2 2026. This represents an increase of 504.7% from the same quarter a year earlier. Against the prior quarter it is up 337.7%.
Blaize Holdings, Inc. Warrants reported -$28.8M in net income in Q2 2026. This represents an increase of 2.6% from the same quarter a year earlier. Against the prior quarter it is down 27.2%.
Blaize Holdings, Inc. Warrants earned -$0.21 per diluted share (EPS) in Q2 2026. This represents an increase of 25.0% from the same quarter a year earlier. Against the prior quarter it is down 10.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
Blaize Holdings, Inc. Warrants recorded an outflow of $29.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 77.5% from the same quarter a year earlier. Against the prior quarter it is down 129.0%.
Blaize Holdings, Inc. Warrants held $36.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Blaize Holdings, Inc. Warrants's gross margin was 7.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 51.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 49.9 percentage points.
Blaize Holdings, Inc. Warrants's ROE was -67.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 21.7 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Blaize Holdings, Inc. Warrants invested $10.5M in research and development in Q2 2026. This represents an increase of 9.0% from the same quarter a year earlier. Against the prior quarter it is up 8.3%.
Blaize Holdings, Inc. Warrants invested $523K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 2515.0% from the same quarter a year earlier. Against the prior quarter it is up 350.9%.
Not reported for Q2 2026.
BZAIW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-K | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.0M+504.7% | $2.7M+171.9% | $23.8M+2277.6% | $11.9M+1419.5% | $2.0M+788.8% | $1.0M+83.4% | $1.0M | $781K |
| Cost of Revenue | $11.1M+2415.0% | $1.2M+255.4% | $21.6M+104.7% | $10.1M+2020.0% | $440K+71.2% | $327K+6.9% | -$460.0M | $476K |
| Gross Profit | $918K-22.1% | $1.6M+131.8% | $2.6M-99.4% | $1.8M+482.3% | $1.2M+3564.7% | $680K+179.8% | $461.0M | $305K |
| R&D Expenses | $10.5M+9.0% | $9.7M-26.2% | $10.1M-99.9% | $9.7M+66.9% | $9.6M+63.7% | $13.1M+220.4% | $9.3B | $5.8M |
| SG&A Expenses | N/A | $17.5M+31.0% | $28.4M-99.8% | $14.3M+158.2% | $13.0M+159.6% | $13.4M+234.9% | $17.4B | $5.5M |
| Operating Income | -$30.6M-39.9% | -$23.4M+38.5% | -$21.4M+99.9% | -$22.6M-98.7% | -$21.9M-96.5% | -$38.0M-367.3% | -$17.0B | -$11.4M-1462.2% |
| EBITDA | N/A | N/A | N/A | -$22.2M-99.9% | -$21.4M-95.7% | -$37.8M-379.8% | N/A | -$11.1M |
| Interest Expense | N/A | N/A | N/A | $693K-45.6% | $314K-50.4% | $399K+274.2% | N/A | $1.3M |
| Income Tax | $268K+587.2% | $99K-38.9% | -$5K+100.0% | $21K-61.8% | $39K-70.2% | $162K0.0% | -$1.3B | $55K-69.3% |
| Net Income | -$28.8M+2.6% | -$22.7M+84.7% | -$3.3M+100.0% | -$26.3M-2.5% | -$29.6M-143.5% | -$147.8M-782.5% | -$6.7B | -$25.6M-761759.7% |
| EPS (Basic) | -$0.21+25.0% | -$0.19+88.2% | $0.05+113.2% | -$0.25+83.0% | -$0.28+68.5% | -$1.61-30.9% | -$0.38 | -$1.47 |
| EPS (Diluted) | -$0.21+25.0% | -$0.19+88.2% | $0.05+113.2% | -$0.25 | -$0.28 | -$1.61 | -$0.38 | -$1.47 |
| Diluted Shares (Avg) | 135M+28.9% | 122M+33.4% | N/A | 104M | 105M | 92M | N/A | 17M |
BZAIW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-K | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $79.5M+47.7% | $70.8M-29.4% | $102.2M-99.9% | $60.9M+21.5% | $53.8M+9.7% | $100.2M+108.1% | $78.5B+108028.2% | $50.1M-29.3% |
| Current Assets | $74.0M+56.0% | $65.4M-30.1% | $96.6M-99.9% | $54.8M+28312.1% | $47.4M+26013.9% | $93.5M+33264.4% | $71.7B+278754.7% | $193K+238.1% |
| Cash & Equivalents | $36.8M+28.9% | $33.2M-26.1% | $45.8M-99.9% | $24.0M | $28.6M | $45.0M+538.3% | $50.2B | N/A |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | N/A |
| Inventory | $10.0M+21.8% | $9.0M-11.0% | $10.1M-99.9% | $8.8M | $8.2M | $10.1M | $8.6B | N/A |
| Accounts Receivable | $13.9M | $16.7M | $36.7M | N/A | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | N/A |
| Total Liabilities | $36.7M-37.4% | $45.3M-45.7% | $63.2M-100.0% | $59.6M-62.0% | $58.6M-55.0% | $83.5M-29.1% | $189.0B+150096.3% | $156.7M+84.0% |
| Current Liabilities | $19.9M-49.8% | $26.5M-31.0% | $43.4M-100.0% | $36.8M+254.5% | $39.6M+368.1% | $38.4M+453.5% | $186.1B+593048.1% | $10.4M+129.8% |
| Non-Current Liabilities | $16.8M-11.6% | $18.8M-58.3% | $19.8M+598.9% | $22.8M-84.4% | $19.0M-84.4% | $45.1M-59.3% | $2.8M-97.0% | $146.3M+81.4% |
| Total Equity | $42.8M+989.6% | $25.4M+52.2% | $39.0M+100.0% | $1.3M+101.2% | -$4.8M+94.1% | $16.7M+124.0% | -$110.5B-207486.5% | -$106.6M-645.0% |
| Retained Earnings | -$687.6M-13.4% | -$658.8M-14.2% | -$636.2M+99.9% | -$632.9M-3091.4% | -$606.6M-3252.0% | -$577.0M-3365.4% | -$429.3B-2709850.3% | -$19.8M-38.6% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
BZAIW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-K | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$28.7M-74.5% | -$12.6M+20.8% | -$16.5M+99.9% | -$24.9M-75.9% | -$16.4M-15.2% | -$15.9M-116.5% | -$17.7B-10222158.1% | -$14.2M-1017.3% |
| Depreciation & Amortization | N/A | N/A | N/A | $364K+45.0% | $456K+147.8% | $191K-24.5% | N/A | $251K |
| Stock-Based Compensation | N/A | $8.9M-18.9% | N/A | $9.5M+2542.3% | $7.6M+2086.7% | $11.0M+3176.0% | N/A | $359K |
| Capital Expenditures | $523K+2515.0% | $116K-82.5% | $81K-100.0% | $26K-97.6% | $20K-79.2% | $661K+273.4% | -$263.0M | $1.1M |
| Free Cash Flow | -$29.2M-77.5% | -$12.7M+23.2% | -$16.5M+99.9% | -$24.9M-63.6% | -$16.4M-14.6% | -$16.6M-120.2% | -$18.0B | -$15.2M |
| Investing Cash Flow | -$523K-2515.0% | -$116K+82.5% | -$81K-100.0% | -$26K+97.6% | -$20K-120.8% | -$661K-273.4% | $263.0M+85800.8% | -$1.1M |
| Financing Cash Flow | $32.6M+38218.8% | $58K-99.5% | $38.3M+105.7% | $20.3M+685.0% | $85K-99.9% | $11.3M-0.3% | -$671.0M-94557.8% | -$3.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BZAIW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-K | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 7.7%-51.8pp | 57.6%-10.0pp | 10.8% | 15.0%-24.1pp | 59.4%+74.7pp | 67.5%+23.3pp | 46100.0% | 39.1% |
| Operating Margin | -255.4% | -854.2% | -89.8% | -190.3% | -1104.1% | -3775.7% | -1699500.0% | -1455.6% |
| Net Margin | -240.4% | -827.4% | -13.9% | -221.3% | -1492.9% | -14673.4% | -669200.0% | -3278.8% |
| Return on Equity | -67.3% | -89.1%+795.2pp | -8.5% | -2010.6% | N/A | -884.3% | N/A | N/A |
| Return on Assets | -36.2%+18.7pp | -32.0%+115.4pp | -3.2%+5.3pp | -43.1%+8.0pp | -55.0%-30.2pp | -147.5%-112.7pp | -8.5% | -51.1%-51.1pp |
| Current Ratio | 3.72+2.5x | 2.460.0x | 2.23+1.8x | 1.49+1.5x | 1.20+1.2x | 2.43+2.4x | 0.39-0.4x | 0.020.0x |
| Debt-to-Equity | 0.86 | 1.78-3.2x | 1.62 | 45.63 | N/A | 5.00 | N/A | N/A |
| Asset Turnover | 0.15+0.1x | 0.040.0x | 0.23+0.2x | 0.19+0.2x | 0.040.0x | 0.010.0x | 0.00 | 0.02 |
| FCF Margin | -243.6% | -465.5% | -69.6% | -210.2% | -829.9% | -1649.0% | -1800700.0% | -1952.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Blaize Holdings, Inc. Warrants BZAIW | FY2025 | $38.6M | -$206.9M | N/A | N/A | 37/100 |
| Society Pass Incorporated SOPA | FY2024 | $7.1M | -$10.2M | N/A | $978K | 41/100 |
| Earlyworks Co., Ltd. American ELWS | FY2025 | $3.1M | -$1.8M | -58.3% | $21.5M | 44/100 |
| T Stamp Inc. IDAI | FY2025 | $3.1M | -$8.3M | N/A | $16.6M | 55/100 |
| Oblong Inc. OBLG | FY2025 | $2.4M | -$6.4M | N/A | $8.7M | 29/100 |
| Baiya International Group Inc BIYA | FY2025 | $16.5M | -$9.5M | -57.9% | $8.9M | 33/100 |
Where Blaize Holdings, Inc. Warrants Ranks
Frequently Asked Questions
What is Blaize Holdings, Inc. Warrants's annual revenue?
Blaize Holdings, Inc. Warrants (BZAIW) reported $38.6M in total revenue for fiscal year 2025. This represents a 2386.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Blaize Holdings, Inc. Warrants's revenue growing?
Blaize Holdings, Inc. Warrants (BZAIW) revenue grew by 2386.0% year-over-year, from $1.6M to $38.6M in fiscal year 2025.
Is Blaize Holdings, Inc. Warrants profitable?
No, Blaize Holdings, Inc. Warrants (BZAIW) reported a net income of -$206.9M in fiscal year 2025.
What is Blaize Holdings, Inc. Warrants's gross margin?
Blaize Holdings, Inc. Warrants (BZAIW) had a gross margin of 16.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Blaize Holdings, Inc. Warrants's return on equity (ROE)?
Blaize Holdings, Inc. Warrants (BZAIW) has a return on equity of -530.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Blaize Holdings, Inc. Warrants's free cash flow?
Blaize Holdings, Inc. Warrants (BZAIW) recorded an outflow of $74.5M in free cash flow during fiscal year 2025. This represents a -36.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Blaize Holdings, Inc. Warrants's operating cash flow?
Blaize Holdings, Inc. Warrants (BZAIW) recorded an outflow of $73.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Blaize Holdings, Inc. Warrants's total assets?
Blaize Holdings, Inc. Warrants (BZAIW) had $102.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Blaize Holdings, Inc. Warrants's capital expenditures?
Blaize Holdings, Inc. Warrants (BZAIW) invested $788K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Blaize Holdings, Inc. Warrants spend on research and development?
Blaize Holdings, Inc. Warrants (BZAIW) invested $42.5M in research and development during fiscal year 2025.
What is Blaize Holdings, Inc. Warrants's current ratio?
Blaize Holdings, Inc. Warrants (BZAIW) had a current ratio of 2.23 as of fiscal year 2025, which is generally considered healthy.
What is Blaize Holdings, Inc. Warrants's debt-to-equity ratio?
Blaize Holdings, Inc. Warrants (BZAIW) had a debt-to-equity ratio of 1.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Blaize Holdings, Inc. Warrants's return on assets (ROA)?
Blaize Holdings, Inc. Warrants (BZAIW) had a return on assets of -202.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Blaize Holdings, Inc. Warrants's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Blaize Holdings, Inc. Warrants (BZAIW) held $45.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $73.8M over that year. Dividing the one by the other, the reported balance equals about 7 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Blaize Holdings, Inc. Warrants's Piotroski F-Score?
Blaize Holdings, Inc. Warrants (BZAIW) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Blaize Holdings, Inc. Warrants's earnings high quality?
Blaize Holdings, Inc. Warrants (BZAIW) reported a net loss of $206.9M while operations used $73.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Blaize Holdings, Inc. Warrants?
Blaize Holdings, Inc. Warrants (BZAIW) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.