Blaize Holdings

BZAI

Semiconductors · Technology

Price

$1.06

+0.03 (+2.90%)

Market Cap

$119.1M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−75.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 420.6M (2021) → 104.3M (2025)

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 del

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-105.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$43M/ year

↑ Rising (+69% vs prior year)

110.1% of revenue

7.3x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

51.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~7 months

$46M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Blaize Holdings grew revenue 1631% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

10.0%

Thin — 10.0% gross margin

Operating Margin

-89.8%

Losing money on operations — -89.8%

ROCE

-51.9%

Weak — -51.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-201.6%

Burning cash (-201.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.05

Conservative — low debt load (0.05)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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