Blaize Holdings 2025 Q3 Earnings Strong Revenue Growth Amid Narrowed Losses

Blaize Holdings (BZAI) reported fiscal 2025 Q3 earnings on Nov 13, 2025, with revenue surging 1419.5% year-over-year to $11.87 million, exceeding estimates. The company narrowed its per-share loss to $0.25 from $1.47, while net losses widened slightly to $26.26 million. Guidance for Q4 revenue of $21.1–$23.1 million and improved adjusted EBITDA losses signals confidence in scaling operations.

Revenue

Blaize’s Q3 revenue of $11.87 million was driven by robust performance in hardware sales, with hardware revenue contributing $10.53 million. Related-party transactions added $1.12 million in hardware revenue and $215,000 in software revenue. The total revenue reflects accelerated adoption of the company’s Hybrid AI platform across key markets, including South Asia and the Middle East.

Earnings/Net Income

The company reduced its per-share loss to $0.25 in Q3 2025, an 83% improvement from $1.47 in the prior year. However, net losses widened to $26.26 million, a 2.5% increase from $25.61 million in Q3 2024. The EPS decline indicates ongoing operational challenges despite revenue gains, with losses primarily attributed to R&D and commercialization costs.

Price Action

Post-earnings, Blaize’s stock price fell 7.64% in a single day, 23.26% in the most recent week, and 49.30% month-to-date. The stock’s underperformance highlights market skepticism, despite the revenue surge.

Post-Earnings Price Action Review

The strategy of purchasing Blaize shares on the date of its revenue announcement and holding for 30 days has yielded a cumulative return of -58.2% over three years, significantly lagging the market. This poor performance suggests broader market headwinds and company-specific factors—such as unmet expectations for profitability—have overshadowed revenue growth.

CEO Commentary

CEO Dinakar Munagala described Q3 as a “breakout quarter,” with $11.9 million in revenue (499% sequential growth) driven by commercial traction and global partnerships. He emphasized a $30 million investment from Polar Asset Management to scale next-gen chip development and expand “Practical AI” solutions. Strategic priorities include sovereign AI infrastructure, hybrid (GSP + GPU) platforms, and energy-efficient solutions, with 2026 targeting global deployment.

Guidance

Blaize projected Q4 2025 revenue of $21.1–$23.1 million, doubling Q3’s performance, and adjusted EBITDA losses of $15.6–$18.6 million. The CEO highlighted $160 million in potential revenue from Yotta and Starshine contracts over six quarters, underscoring confidence in long-term scalability.

Additional News

Blaize secured a $30 million private placement led by Polar Asset Management, with 9.375 million shares sold at $3.20 each and warrants to purchase another 9.375 million shares at $5.00. The funding will accelerate commercialization of its AI platform and next-gen chip development. Additionally, the company confirmed a $56 million edge AI deployment with Yotta for India’s nationwide video surveillance and signed a strategic partnership with Saudi Arabia’s Technology Control Company to deliver ruggedized AI solutions for harsh environments. These moves position Blaize to expand its footprint in sovereign and industrial AI markets.

Article Polishing

Blaize’s earnings report underscores a pivotal shift from validation to scale, with revenue growth outpacing losses and strategic partnerships driving long-term potential. While short-term stock volatility persists, the company’s focus on Practical AI and global expansion aligns with high-growth market demands. Investors remain cautious, however, as profitability remains elusive despite robust top-line momentum.