Blaize Holdings, Inc.
For the period ended Dec 31, 2025. Filed Mar 24, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 24, 2026
BZAI$0.18-10.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Changes in Stockholders’ Equity (Deficit
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
(Amounts in thousands, except shares)
| Redeemable Convertible Preferred Stock · Common Stock Subject to Possible Redemption · Stockholders’ Equity (Deficit) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock · Treasury Stock · Additional Paid-in Capital · Accumulated Deficit · Total Stockholders’ Equity (Deficit) | |||||||||||||
| Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount | |||||||||||||
| Balance as of January 1, 2024 | 34,712,525 | $173,347 | — | $— | 13,613,269 | $— | 96,887 | $— | $141,496 | $(368,056) | $(226,560) | ||
| Retroactive application of recapitalization | (34,712,525) | (173,347) | — | — | 34,712,525 | 5 | (96,887) | — | 173,342 | — | 173,347 | ||
| Adjusted balance - January 1, 2024 | — | — | — | — | 48,325,794 | 5 | — | — | 314,838 | (368,056) | (53,213) | ||
| Exercise of stock options | — | — | — | — | 50,258 | — | — | — | 98 | — | 98 | ||
| Stock-based compensation | — | — | — | — | — | — | — | — | 3,847 | — | 3,847 | ||
| Net loss | — | — | — | — | — | — | — | — | (61,195) | (61,195) | |||
| Balance as of December 31, 2024 | — | — | — | — | 48,376,052 | 5 | — | — | 318,783 | (429,251) | (110,463) | ||
| Conversion of Legacy Blaize convertible notes | — | — | — | — | 31,433,259 | 3 | — | — | 314,331 | — | 314,334 | ||
| Net exercise of Legacy Blaize warrants | — | — | — | — | 7,505,657 | 1 | — | — | 75,056 | — | 75,057 | ||
| Merger and PIPE financing | — | — | 2,854,242 | 33,061 | 11,408,957 | 1 | — | — | (126,165) | — | (126,164) | ||
| Payment on shareholder note receivable | — | — | — | — | — | — | — | — | 200 | — | 200 | ||
| Issuance of common stock to advisors | — | — | — | — | 873,486 | — | — | — | 2,788 | — | 2,788 | ||
| Issuance of common stock warrants to advisor | — | — | — | — | — | — | — | — | 167 | — | 167 | ||
| Increase in redemption value | — | — | — | 603 | — | — | — | — | — | — | — | ||
| Redemption of common stock subject to possible redemption | — | — | (2,800,489) | (33,157) | — | — | — | — | — | — | — | ||
| Lapse of redemption | — | — | (53,753) | (507) | 53,706 | — | — | — | 490 | — | 490 | ||
| Exercises of stock options | — | — | — | — | 562,446 | — | — | — | 345 | — | 345 | ||
| Releases of restricted stock units | — | — | — | — | 3,961,729 | 1 | — | — | — | — | 1 | ||
| Common stock issued under the committed equity facility | — | — | — | — | 8,410,321 | 1 | — | — | 32,831 | — | 32,832 | ||
| Committed equity facility fee settled in common stock | — | — | — | — | 83,353 | — | — | — | 243 | — | 243 | ||
| Issuance of common stock to Polar | — | — | — | — | 9,375,000 | — | — | — | 15,868 | — | 15,868 | ||
| Excise tax reversal | — | — | — | — | — | — | — | — | 2,660 | — | 2,660 | ||
| Stock-based compensation | — | — | — | — | — | — | — | — | 37,546 | — | 37,546 | ||
| Net loss | — | — | — | — | — | — | — | — | — | (206,904) | (206,904) | ||
| Balance as of December 31, 2025 | — | $— | — | $— | 122,043,966 | $12 | — | $— | $675,143 | $(636,155) | $39,000 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.