Blaize Holdings, Inc. SEC Filings

Blaize Holdings, Inc. reported that Kurt J. Lauk is a director of the company in an initial statement of beneficial ownership. The Form 3 does not list any equity transactions or holdings for him at this time.

Blaize Holdings, Inc. files a prospectus supplement registering 20,326,158 shares of common stock for resale by a selling stockholder and 769,231 shares for resale by Cantor, and incorporates its Quarterly Report for the period ended June 30, 2026.

For that quarter, revenue rose to $11.985M (six months $14.723M), largely from third‑party hardware sales into China, but gross profit was only $0.918M. The company reported a Q2 net loss of $28.809M and a six‑month net loss of $51.462M, with net cash used in operations of $41.297M.

Cash and cash equivalents were $36.847M, including $12.4M held in China and subject to currency controls. Management discloses that ongoing losses, heavy cash burn, customer and geographic concentration in China, and constraints on a $15.5M committed equity facility because the share price is below $1.00 raise substantial doubt about the company’s ability to continue as a going concern. A primary contract manufacturer has given notice of termination by December 14, 2026, and large receivables from key Chinese customers include a fully reserved balance for Customer C and collection risk on Customer D. The company also reports a class action complaint filed on August 4, 2026 regarding prior customer contracts and states that the matter is at a preliminary stage with no estimable outcome.

Blaize Holdings, Inc. filed a prospectus supplement covering up to 18,750,000 shares of common stock and incorporating its June 30, 2026 quarterly financials. Common stock and warrants trade on Nasdaq under BZAI and BZAIW, with recent prices of $1.15 and $0.22.

For the six months ended June 30, 2026, Blaize reported revenue of $14.7 million (mostly third‑party hardware) and a net loss of $51.5 million. Cash and cash equivalents were $36.8 million, with about 34% held in China and subject to currency controls. Operating cash outflow was $41.3 million over the same period. Management disclosed that these conditions, combined with limited access to its $15.5 million committed equity facility while the share price is below $1.00, raise substantial doubt about the company’s ability to continue as a going concern.

Results are highly concentrated in China: second‑quarter revenue was $12.0 million, with 99.6% from a single Chinese customer. Accounts receivable totaled $23.4 million gross with a $9.5 million allowance, reflecting significant credit‑loss provisions on certain customers. Blaize also disclosed a new securities class action related to its Starshine and NeoTensr contracts and notice from its primary contract manufacturer of intent to terminate the manufacturing agreement by December 14, 2026.

Blaize Holdings, Inc. filed a prospectus supplement covering 89,550,141 shares of common stock, 898,250 warrants, and 29,698,250 shares issuable upon warrant exercise, while incorporating its latest quarterly financial information.

For the six months ended June 30, 2026, Blaize generated $14.7 million of revenue, largely from third-party hardware sales into China, but reported a net loss of $51.5 million and negative operating cash flow of $41.3 million. Cash and cash equivalents were $36.8 million, with about $12.4 million held in China and subject to currency controls, and management disclosed that current liquidity conditions raise substantial doubt about the company’s ability to continue as a going concern over the next year.

The filing highlights heavy customer and geographic concentration, large receivables in China with a $9.5 million credit-loss allowance, and the planned termination of Blaize’s primary contract manufacturer by December 14, 2026. It also notes a newly filed securities class action related to contracts with Starshine and NeoTensr, and a related-party share issuance to settle a governance dispute.

Blaize Holdings, Inc. reported sharply higher revenue but continuing large losses and serious liquidity risks for the quarter and six months ended June 30, 2026. Revenue rose to $11.99 million for the quarter and $14.72 million year‑to‑date, driven mainly by third‑party hardware sales to a single customer in China. Gross profit was modest at $0.92 million for the quarter, reflecting low margins on resale hardware.

The company recorded a six‑month net loss of $51.46 million and used $41.30 million in operating cash, leaving $36.85 million in cash and cash equivalents. Management concluded that its liquidity position and cash burn create substantial doubt about continued going concern without additional financing. A committed equity facility with $15.5 million remaining is currently constrained by a sub‑$1 share price.

Accounts receivable are highly concentrated in China, with a $9.55 million allowance tied largely to one customer, highlighting collection risk. Manufacturing risk is elevated as the primary contract manufacturer plans to terminate its agreement by December 14, 2026, while the company has inventory purchase commitments of roughly $12.7 million. Blaize also disclosed a newly filed putative securities class action related to certain customer contracts, which is at an early stage.

Blaize Holdings, Inc. reported second-quarter 2026 revenue of $12.0 million, up from $2.7 million in the first quarter and $2.0 million a year earlier. Growth was driven by edge AI and Hybrid AI Platform activity, including a first European order and increased Asia-Pacific demand.

Profitability deteriorated, with gross margin at 8% versus 58% in the prior quarter and 59% a year ago, reflecting a mix shift toward lower-margin third-party server hardware. Net loss was $28.8 million and Adjusted EBITDA loss was $20.9 million. Cash and cash equivalents were $36.8 million at June 30, 2026, up from $33.2 million at March 31, 2026.

The company updated its 2026 outlook to revenue of $40.0–$43.0 million and Adjusted EBITDA loss of $62.0–$65.0 million, citing slower conversion of opportunities and higher memory pricing. Blaize signed a binding agreement for 2,000 servers worth about $70.0 million, expecting roughly $20.0 million as 2026 revenue and about $50.0 million as contracted backlog for 2027.

Blaize Holdings, Inc. shareholder Dinakar Munagala filed Amendment No. 3 to update his beneficial ownership of the company’s common stock. He beneficially owns 9,259,316 shares, consisting of 501,422 shares of Common Stock and 8,757,894 shares underlying stock options that are vested or expected to vest within 60 days. This represents 6.0% of the 144,832,039 shares of Common Stock outstanding as of August 2, 2026, and excludes 1,371,303 earn-out shares.

Munagala has sole voting and sole dispositive power over these shares. Since Amendment No. 2, options to purchase 1,263,423 shares have vested, and he sold 50,000 shares of Common Stock pursuant to a 10b5-1 Plan entered into on December 12, 2025, with no other transactions reported.

BlackRock, Inc. reported a significant ownership position in Blaize Holdings Inc. common stock. BlackRock disclosed that its reporting business units beneficially own 7,237,904 shares of Blaize Holdings common stock, representing 5.1% of the outstanding class.

BlackRock reported sole voting power over 7,168,747 shares and sole dispositive power over 7,237,904 shares, with no shared voting or dispositive power. The shares are held across various clients and accounts of BlackRock’s subsidiaries and affiliates, and various persons have rights to dividends or sale proceeds, but no single person has more than 5% of Blaize’s outstanding common shares.

The securities are being reported on a Schedule 13G filed by BlackRock, Inc., a Delaware corporation, acting as a parent holding company for the reporting business units identified in an exhibit. The filing is signed by a Managing Director under a Power of Attorney.

Blaize Holdings, Inc. Chief Revenue Officer Stephen Paul Patak reported routine equity compensation activity. On July 12, 2026, 2,500 Restricted Stock Units vested and were converted into 2,500 shares of common stock, while 609 shares were surrendered in a tax-withholding disposition. Following these transactions, he holds 4,391 shares of common stock directly, 15,000 Restricted Stock Units, and a stock option covering 800,000 shares of common stock at an exercise price of $1.18 per share expiring on March 29, 2036. The filing notes that the restricted stock units vest in eight quarterly installments beginning April 12, 2026, and the stock options vest 25% on January 12, 2027 and quarterly thereafter.