BZAI · Blaize Holdings, Inc.
Substantial doubt about the company's ability to continue as a going concern.
“management has determined that the Company's liquidity condition raises substantial doubt about its ability to continue as a going concern through one year from the date that these condensed consolidated financial statements have been issued.”View the 10-Q filed Aug 13, 2026
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AI Brief
Q2 FY26 earnings call · Aug 13, 2026TL;DR. Blaze cut its 2026 revenue outlook to $40–43 million (from $130 million) and now guides to a $62–65 million adjusted EBITDA loss, after pilots failed to convert, customers deferred orders, and memory pricing drove costs higher; gross margin guidance for the second half was lowered to 17%–19%. Offsetting that, the company signed a $70 million server agreement of which about $20 million is expected to convert in 2026 and approximately $50 million is contracted backlog entering 2027.
- + Opened Europe with a first purchase order for several thousand units and expanded Asia-Pacific activity
- + Ended Q2 with $36.8 million in cash, up $3.6 million from Q1 after a $32.8 million equity raise
- + CFO indicated 2027 revenue could be 2.5x–3x the 2026 exit run rate
- − Cut 2026 revenue outlook to $40–43 million from a prior $130 million
- − Worsened full-year 2026 adjusted EBITDA loss guidance to $62–65 million
- − Fully reserved the Starshine receivable, took a $7.1 million provision, and halted further engagement pending payment
- − Multiple commercial opportunities slipped: failed conversions, longer customer qualification cycles, longer government procurement timelines, and a Middle East smart-city deal pushed to an extended field trial
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Software - Application — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BZAI
this stock
Blaize Holdings, Inc.
|
$81.11M | -71.3% | +2386.0% | — | 15.5% |
|
SAP
Sap SE
|
$238.18B | -15.0% | — | — | 0.4% |
|
CRM
Salesforce, Inc.
|
$203.87B | -6.5% | +25.9% | 22.6 | 3.5% |
|
SHOP
Shopify Inc.
|
$165.71B | -20.0% | +30.1% | 86.4 | 1.4% |
|
UBER
Uber Technologies, Inc
|
$146.39B | -12.3% | +18.3% | 15.3 | 2.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BZAI | +11.8% | -52.1% | -46.2% | +14.8% | -71.3% |
| SPY | -1.2% | -1.8% | +17.8% | -0.4% | +12.1% |
| vs SPY | +12.9% | -50.4% | -64.0% | +15.1% | -83.4% |