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Blaize Announces Fiscal Year 2024 Financial Results
Blaize solutions optimized for low-power AI processing for smart computing at the edge Fueled by rising demand in existing beachhead sectors, as well as
About this update from Blaize Holdings, Inc.
[{"type":"text","content":"\n\nBlaize solutions optimized for low-power AI processing for smart computing at the edge\n\n\nFueled by rising demand in existing beachhead sectors, as well as newly emerging use cases\n\n\nExpected acceleration of revenue driven by established and growing pipeline\n\n\n EL DORADO HILLS, Calif.--(BUSINESS WIRE)--\nBlaize Holdings, Inc. (NASDAQ:BZAI) (“Blaize”), a provider of purpose-built, transformative artificial intelligence (AI)-enabled edge computing solutions that unite software and silicon to optimize AI from the edge to the core, has released its financial results for the fiscal year ending December 31, 2024.\n\nBlaize CEO Dinakar Munagala said, “Having successfully concluded the Company’s business combination with BurTech Acquisition Corp. in January 2025, Blaize has seen continued interest in our AI-edge compute solutions from multiple parties in the Smart Cities, defense, and automotive industries. As we continue to focus on our go-to-market strategy and the overall market’s growing demand for AI at the edge, Blaize is well-positioned to expand our customer footprint.”\n\nFiscal Year 2024 Financial Highlights\n\nResults compare the year ended December 31, 2024, to the year ended December 31, 2023:\n\n\nNet revenue for fiscal year 2024 decreased to $1.6 million from $3.9 million in the prior year. In both years, the revenues primarily reflected the recognition of strategic consulting fees received from a major European automotive OEM as part of a multi-year and multi-vendor program. Phase I was largely completed during 2024 which accounts for the decrease.\n\n\nNet loss for fiscal year 2024 was $61.2 million, a 30% decrease from net loss of $87.6 million in the prior year. Included in 2024 were financing charges and fair value adjustments of $14.5 million related to convertible notes and warrant liabilities compared to $49.7 million for the prior year, which included a non-recurring Pay-to-Play equity financing charge.\n\n\nAdjusted EBITDA loss, a non-GAAP measure of operating performance, reconciled to net loss below, for fiscal year 2024 was $43.3 million, compared to $30.3 million for fiscal year 2023. For a reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP financial metric, see “Non-GAAP Financial Measures” below.\n\n\nAs of December 31, 2024, Blaize’s cash and cash equivalents were...