Blaize Holdings, Inc.
For the period ended Dec 31, 2025. Filed Mar 24, 2026.
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FY2025 · Filed Mar 24, 2026
BZAI$0.20-2.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(Amounts in thousands, except shares and per share amounts, or unless otherwise noted)
| As of December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $45,781 | $50,237 |
| Accounts receivable, net of allowance for credit losses of $523 and $420, respectively | 33,363 | — |
| Accounts receivable - related party, net of allowance for credit losses of $34 and $—, respectively | 3,330 | — |
| Inventories, net | 10,130 | 8,561 |
| Prepaid expenses and other current assets | 4,003 | 12,621 |
| Prepaid expenses and other current assets - related parties | — | 250 |
| Total current assets | 96,607 | 71,669 |
| Property and equipment, net | 1,226 | 2,081 |
| Deferred income tax assets | 2,123 | 2,157 |
| Operating lease right-of-use assets | 1,516 | 1,773 |
| Other assets | 739 | 815 |
| Total assets | $102,211 | $78,495 |
| Liabilities and stockholders’ equity (deficit) | ||
| Current liabilities | ||
| Accounts payable | $8,339 | $7,904 |
| Accounts payable - related party | 180 | — |
| Accrued trade payables | 22,838 | — |
| Accrued expenses and other current liabilities | 6,700 | 14,300 |
| Accrued expenses - related party | 331 | — |
| Operating lease liabilities - current | 644 | 578 |
| Working capital loan - related party | 1,500 | — |
| Advances from related party | 2,857 | — |
| Legacy Blaize convertible notes and warrants | — | 163,340 |
| Total current liabilities | 43,389 | 186,122 |
| Operating lease liabilities | 804 | 1,166 |
| Other earnout shares | 6,745 | — |
| Other earnout shares - related party | 2,184 | — |
| Polar warrants | 8,813 | — |
| Other liabilities | 1,276 | 1,670 |
| Total liabilities | 63,211 | 188,958 |
| Commitments and contingencies | ||
| Stockholders’ equity (deficit): | ||
| Common stock - $0.0001 par value; 600,000,000 and 136,562,809 shares authorized as of December 31, 2025 and 2024, respectively, and 122,043,966 and 48,376,052 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 12 | 5 |
| Additional paid-in capital | 675,143 | 318,783 |
| Accumulated deficit | (636,155) | (429,251) |
| Total stockholders’ equity (deficit) | 39,000 | (110,463) |
| Total liabilities and stockholders’ equity (deficit) | $102,211 | $78,495 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.