Blaize Holdings Inc. Common Stock (BZAI)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is offering Blaize at $0.27, a market value of $38.5M. The company sells AI edge-computing processors and software, a field with real long-term demand but intense competition. I look for durable moats and consistent earning power; here I see neither yet. Revenue is growing from a tiny base: in fiscal 2025, the year ended 2025-12-31, revenue was $38.6M versus $1.6M in fiscal 2024, the year ended 2024-12-31. More recently, fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $12.0M versus $2.0M in fiscal Q2 2025, the quarter ended 2025-06-30. But growth has been bought with heavy losses: fiscal 2025 net loss was $206.9M, or diluted EPS -$1.98, and fiscal Q2 2026 net loss was $28.8M, or diluted EPS -$0.21. Trailing free cash flow is -$83.4M, a -216.5% FCF yield. The balance sheet has low reported debt, with D/E 0.11, but FairStock-calculated Altman Z of -11.78 and Piotroski 3/9 signal distress. FairStock-calculated P/B is 0.89, so price is below book, but book can vanish when losses continue. FairStock-calculated P/E is -0.46, ROE -426.63%, and ROCE -91.80%. The Lynch category is TURNAROUND - loss in latest year after earlier profits - based on FY2023 net income $1.3M followed by losses. The stock is down from a 52-week high of $6.64 to $0.27. At this price, the market is pricing survival doubts, not a franchise. I would need evidence of self-funding cash flow and a defensible product before calling this a Graham bargain rather than a speculative turnaround.

In plain English: Blaize Holdings sells AI computer hardware and software for edge computing, used in places like smart cities, defense, retail, and businesses. The business is growing revenue but losing large amounts of money and burning cash, so it looks weak financially. At $0.27 on 2026-10-13, the price looks cheap compared with its accounting value, but the losses make it a very risky and uncertain situation.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer