BZAI - NASDAQ

Blaize Holdings, Inc.

BZAI·NASDAQ

$1.79

-3.8%

TechnologySemiconductors

Blaize 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.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$200.14M

EPS-1.9800

P/E Ratio-0.90

Earnings Date08/13/2026

-81.41M

Operating Cash Flow

52%

3Y+102.0%

5Y-81291.0%

10Y-81291.0%

-788.00K

Investing Cash Flow

-13%

3Y+60.0%

5Y-100.0%

10Y-100.0%

77.76M

Financing Cash Flow

-24%

3Y+99.0%

5Y-73.0%

10Y-73.0%

Blaize Holdings, Inc. Cash Conversion Engine

BZAI · NASDAQ

FCF Components

Net Income-206.90M

Depreciation & Amortization0.00

Stock-Based Compensation0.00

Change in Working Capital-14.14M

Others139.64M

Capital Expenditures-788.00K

Free Cash Flow-82.20M

Cash Flow Quality Analysis

FCF Conversion Rate

39.7%

Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.

CapEx Intensity

-1.0%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-51.0%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$14.14M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.

Blaize Holdings, Inc. Cash Flow Statement

BZAI • NASDAQ

Blaize Holdings, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
OPERATING ACTIVITIES
Net Income	-206.9M	-61.2M	1.3M	-104.6M	-65.9K
Depreciation & Amortization	0.0	1.4M	2M	2.8M	0.0
Change in Deferred Taxes	0.0	0.0	-107K	-48K	0.0
Stock-Based Compensation	0.0	3.8M	2.5M	1.2M	0.0
Other Non-Cash Items	139.6M	28.9M	-10.2M	58.5M	-899.0
Cash Taxes Paid	(0.0)	(0.0)	(791.8K)	(454K)	(0.0)
Change in Working Capital	-14.1M	-26.4M	2.1M	1.9M	167.1K
Cash from Operating Activities	-81.4M	-53.5M	-2.3M	-40.2M	100.3K
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	-788K	-902K	-220K	-493K	(0.0)
Purchase of Investments	(0.0)	(0.0)	(0.0)	(0.0)	-291.8M
Other Investing Items	0.0	0.0	230.3M	0.0	0.0
Cash from Investing Activities	-788K	-902K	(230.1M)	-493K	-291.8M
FINANCING ACTIVITIES
Net Issuance of Common Stock	61.5M	0.0	-227.8M	0.0	293.3M
Net Issuance of Debt	0.0	110.7M	810.3K	33.8M	0.0
Share Repurchases	(0.0)	(0.0)	-227.8M	(0.0)	(0.0)
Other Financing Items	16.3M	-9M	0.0	52K	0.0
Cash from Financing Activities	77.8M	101.7M	-227M	39.1M	293.3M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	49.5M	0.0	0.0	0.0	0.0
Net Change in Cash	45M	47.3M	821.1K	-1.6M	1.5M
Cash at Beginning of Period	758.8K	3.2M	22.2K	6.5M	0.0
Cash at End of Period	45.8M	50.5M	843.3K	4.9M	1.5M
Free Cash Flow	-82.2M	-54.4M	-2.3M	-40.7M	100.3K

SEC Filings

BZAI - Filing history and reports

Filing Type	Filing Date	Period Ending	Actions
S-4/A S-4/A (Amended) N/A	November 26, 2024	November 26, 2024	View Filing
S-4/A S-4/A (Amended) N/A	November 22, 2024	November 22, 2024	View Filing
S-4/A S-4/A (Amended) N/A	November 14, 2024	November 14, 2024	View Filing
S-4/A S-4/A (Amended) N/A	October 30, 2024	October 30, 2024	View Filing
S-4/A S-4/A (Amended) N/A	October 11, 2024	October 11, 2024	View Filing
S-4/A S-4/A (Amended) N/A	September 09, 2024	September 09, 2024	View Filing
S-4 S-4 N/A	July 19, 2024	July 19, 2024	View Filing

Showing 1 to 7 of 7 filings

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