Blaize Holdings, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $38.6M | $1.6M | — | — | — |
| Cost of revenue | $32.4M | $579,000 | — | — | — |
| Gross profit | $6.2M | $975,000 | — | — | — |
| Research and development | $42.5M | $25.1M | — | — | — |
| Operating expenses | $110.0M | $48.6M | — | — | — |
| Operating income | -$103.8M | -$47.6M | -$3.4M | -$1.5M | -$66,791 |
| Pretax income | -$206.7M | -$62.1M | $2.4M | $2.5M | -$65,892 |
| Income tax expense | $217,000 | -$952,000 | $1.0M | $791,758 | — |
| Net income | -$206.9M | -$61.2M | $1.3M | $1.7M | -$65,892 |
| Balance Sheet | |||||
| Cash and equivalents | $45.8M | $50.2M | $0 | $22,232 | $1.5M |
| Current assets | $96.6M | $71.7M | $25.7M | $208,764 | $1.9M |
| Total assets | $102.2M | $78.5M | $72.6M | $296.0M | $293.7M |
| Current liabilities | $43.4M | $186.1M | $31.4M | $1.3M | $700,002 |
| Total liabilities | $63.2M | $189.0M | $41.4M | $11.4M | $10.8M |
| Stockholders' equity | $39.0M | -$110.5M | -$53.2M | -$10.1M | -$8.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$73.8M | -$53.5M | -$2.3M | -$1.4M | $100,269 |
| Stock-based compensation | $37.5M | $3.8M | — | — | — |
| Capital expenditure | $788,000 | $902,000 | — | — | — |
| Free cash flow | -$74.5M | -$54.4M | — | — | — |
Shares outstanding 142.3M · Free float 57.4%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.