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Blaize Holdings
(NASDAQ:BZAI)
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Rating:41Neutral
Price Target:
$0.56
▲(12.40% Upside)
Action:Reiterated
Date:09/17/26
BZAI scores low primarily due to weak financial quality—large ongoing losses, low/compressed margins, and substantial negative free cash flow—despite solid revenue growth and low debt. The latest earnings call further pressures the outlook with a steep 2026 guidance cut and margin deterioration, while technicals also remain bearish with the price well below long-term moving averages.
Positive Factors
Revenue Growth
Rapid year-over-year revenue growth shows that Blaize is gaining commercial traction from a small base. If the company converts this momentum into recurring OEM, platform, and services demand, it could establish a stronger revenue foundation over the next several quarters.
Negative Factors
Guidance Reduction
The sharp guidance reduction signals that customer conversions and supply-cost assumptions are taking longer or proving weaker than previously expected. It lowers near-term revenue visibility and raises the execution burden for management to rebuild credibility and deliver the longer-term growth plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Rapid year-over-year revenue growth shows that Blaize is gaining commercial traction from a small base. If the company converts this momentum into recurring OEM, platform, and services demand, it could establish a stronger revenue foundation over the next several quarters.
Read all positive factors
Blaize Holdings (BZAI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$91.92M
Dividend YieldN/A
Average Volume (3M)6.19M
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth1585.05%
EPS Growth67.97%
CountryUS
Employees241
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.68
Shares Outstanding144,832,050
10 Day Avg. Volume3,001,021
30 Day Avg. Volume6,186,578
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)5.21
Price to Sales (P/S)5.26
P/FCF Ratio-2.47
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$1.50Price Target Upside200.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.6
Revenue Forecast (FY)$125.51M
Blaize Holdings Business Overview & Revenue Model
Company Description
Blaize Holdings, Inc. provides artificial intelligence (AI)-enabled edge computing solutions. Its portfolio includes programmable AI processors in a broad range of form factors, deployable across several verticals, including smart city, defense, r...
Blaize Holdings Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Negative
The call presents a mixed picture: the company shows meaningful top-line momentum year-to-date, sizable contracted orders/backlog, geographic expansion, and a strategic shift toward software and platform-driven margins. However, these positives are overshadowed by a dramatic reduction in near-term revenue guidance (from $130M to $40–43M), severe margin compression in Q2, rising operating losses and one-time charges, supply-chain-driven cost pressure (memory pricing), and delayed customer conversions. Management is taking disciplined steps to preserve cash, realign spending, and pursue non-dilutive financing, and they outline a credible longer-term plan centered on AI Services and next-generation products, but near-term financial challenges are significant.Positive Updates
Strong Sequential and Year-over-Year Revenue Growth
Q2 revenue was $12.0 million versus $2.7 million in Q1; first half 2026 revenue totaled $14.7 million versus $3.0 million in the same period last year, a year-on-year increase of 390%.
Negative Updates
Material Guidance Reduction
Full-year 2026 revenue guidance was reduced sharply from $130 million to a range of $40 million to $43 million, reflecting slower conversions, timing shifts, and supply cost inflation.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Sequential and Year-over-Year Revenue Growth
Q2 revenue was $12.0 million versus $2.7 million in Q1; first half 2026 revenue totaled $14.7 million versus $3.0 million in the same period last year, a year-on-year increase of 390%.
Read all positive updates
Company Guidance
Management revised 2026 revenue guidance sharply to $40–$43 million (down from prior ~$130 million), while disclosing a signed agreement for ~2,000 servers worth about $70 million (part to convert in 2026, with roughly $50 million of committed backlog expected at Dec. 31 at current memory prices); they now expect H2 gross margin of 17–19% (Q2 gross profit was $0.9M, a ~8% margin vs. 58% in Q1), full‑year adjusted EBITDA loss of $62–65M, and Q2 revenue of $12M (H1 revenue $14.7M, up 390% YoY from $3M); operating expense in Q2 was $31.5M (up 32% sequentially), R&D was $10.5M (including $3.7M stock comp), adjusted EBITDA loss in Q2 was $20.9M (vs. $13.9M prior), cash ended the quarter at $36.8M (up $3.6M) after $9.4M of customer receipts and $32.8M net equity proceeds, and management said Q3 should be similar to Q2 with a heavier Q4, expects first AI Services revenue this year, and projects 2027 revenue of roughly 2.5x–3x the 2026 guide.Blaize Holdings Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 50.37M | 38.63M | 1.55M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 5.88M | 5.00M | 89.00K | 0.00 | 0.00 | 0.00 |
| EBITDA | -96.98M | -90.60M | -46.53M | -3.38M | -1.52M | -66.79K |
| Net Income | -81.02M | -206.90M | -61.20M | 1.34M | 1.67M | -65.89K |
Balance Sheet | ||||||
| Total Assets | 79.51M | 102.24M | 78.50M | 72.59M | 19.28M | 293.74M |
| Cash, Cash Equivalents and Short-Term Investments | 36.85M | 45.78M | 50.24M | 25.38M | 4.91M | 1.54M |
| Total Debt | 0.00 | 2.14M | 165.08M | 21.23M | 4.81M | 144.75K |
| Total Liabilities | 36.72M | 63.24M | 188.96M | 41.44M | 89.82M | 10.76M |
| Stockholders Equity | 42.79M | 39.00M | -110.46M | 31.15M | -70.54M | 282.98M |
Cash Flow | ||||||
| Free Cash Flow | -83.42M | -82.20M | -54.43M | -2.34M | -40.72M | 100.27K |
| Operating Cash Flow | -82.67M | -81.41M | -53.53M | -2.34M | -40.22M | 100.27K |
| Investing Cash Flow | -746.00K | -788.00K | -902.00K | 230.12M | -493.00K | -291.81M |
| Financing Cash Flow | 91.30M | 77.76M | 101.71M | -226.97M | 39.09M | 293.25M |
Blaize Holdings Technical Analysis
Neutral
0.50
Price Trends
0.76
Negative
1.19
Negative
1.45
Negative
Market Momentum
-0.05
Negative
51.07
Neutral
63.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BZAI, the sentiment is Neutral. The current price of 0.5 is below the 20-day moving average (MA) of 0.52, below the 50-day MA of 0.76, and below the 200-day MA of 1.45, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 51.07 is Neutral, neither overbought nor oversold. The STOCH value of 63.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BZAI.
Blaize Holdings Risk Analysis
Blaize Holdings disclosed 63 risk factors in its most recent earnings report. Blaize Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Blaize Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $2.92B | -51.28 | -9.34% | ― | 20.04% | 38.40% | |
55 Neutral | $852.22M | -75.11 | -3.42% | ― | 8.82% | 2.60% | |
54 Neutral | $196.37M | -13.74 | -50.90% | ― | -9.42% | -61.14% | |
47 Neutral | $1.03B | -74.00 | -210.69% | ― | 56.22% | 93.61% | |
46 Neutral | $85.36M | -2.03 | -88.73% | ― | 250.00% | 35.86% | |
41 Neutral | $91.92M | -0.94 | -298.56% | ― | 1585.05% | 67.97% |
* Technology Sector Average
BZAI
Blaize Holdings
0.63
-2.89
-81.99%
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Blaize Holdings Corporate Events
Legal ProceedingsPrivate Placements and Financing
Blaize Holdings Settles Dispute, Issues New Equity Shares
Neutral
Jul 9, 2026
On July 7, 2026, Blaize, Inc., a subsidiary of Blaize Holdings, Inc., entered into a Settlement Agreement with Bess Ventures and Advisory LLC, an entity owned and managed by board chair Lane M. Bess. The pact resolves disagreements stemming from a...
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.