v3.26.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Total revenue $ 11,985 $ 1,982 $ 14,723 $ 2,989
Cost of revenue 11,067 804 12,229 1,131
Gross profit 918 1,178 2,494 1,858
Operating expenses        
Research and development 10,480 9,613 20,155 22,731
Depreciation 219 456 405 647
Transaction costs 0 0 0 12,035
Total operating expenses 31,522 23,061 56,486 61,762
Loss from operations (30,604) (21,883) (53,992) (59,904)
Other income (expense), net        
Change in fair value of Legacy Blaize convertible notes and warrants 0 0 0 (226,048)
Change in fair value of Polar warrants 2,344 0 2,813 0
Change in fair value of earnout shares 1,573 (7,257) 2,131 109,261
Change in fair value of unissued shares of common stock 0 (300) 0 (300)
Financing charge on Polar warrants modification (1,969) 0 (1,969) 0
Other, net 115 (110) (78) (158)
Total other income (expense), net 2,063 (7,667) 2,897 (117,245)
Loss before income taxes (28,541) (29,550) (51,095) (177,149)
Provision for income taxes 268 39 367 201
Net loss (28,809) (29,589) (51,462) (177,350)
Change in foreign currency translation adjustments, net 365 0 490 0
Other comprehensive income 365 0 490 0
Comprehensive loss $ (28,444) $ (29,589) $ (50,972) $ (177,350)
Net loss per share - basic (in dollars per share) $ (0.21) $ (0.28) $ (0.40) $ (1.80)
Net loss per share - diluted (in dollars per share) $ (0.21) $ (0.28) $ (0.40) $ (1.80)
Weighted average shares outstanding, basic (in shares) 134,813,711 104,588,373 128,627,046 98,374,632
Weighted average shares outstanding, diluted (in shares) 134,813,711 104,588,373 128,627,046 98,374,632
Nonrelated party        
Operating expenses        
Selling, general and administrative $ 18,029 $ 12,965 $ 33,095 $ 26,082
Nonrelated party | Hardware revenue        
Total revenue 11,956 57 12,098 1,064
Nonrelated party | Software revenue        
Total revenue 0 300 0 300
Related party        
Total revenue   1,600 2,600 1,600
Operating expenses        
Selling, general and administrative 2,794 27 2,831 267
Related party | Hardware revenue        
Total revenue 28 1,362 2,206 1,362
Related party | Software revenue        
Total revenue $ 1 $ 263 $ 419 $ 263