Blaize (BZAI) investor relations material

Executive summary

• Q1 2026 revenue reached $2.7 million, up 172% year-over-year, driven by hardware sales to a related party and new strategic partnerships with NeoTensr, Nokia, Datacom, and Winmate, expanding reach in edge AI and infrastructure markets.

• Launched Blaize AI Services, with face recognition as the first application, targeting recurring, higher-margin revenue streams.

• Closed a $35 million equity offering in May 2026, extending cash runway to mid-2027 and strengthening capital position.

• Asia Pacific expansion through a $50 million NeoTensr contract and significant new business with Winmate.

• Provides AI-enabled edge computing solutions with proprietary hardware/software and third-party integrations, targeting smart city, defense, retail, and enterprise markets.

Financial highlights

• Q1 2026 revenue: $2.7 million (up from $1.0 million in Q1 2025), with 94.9% of revenue from a single related party customer.

• Gross margin expanded to 58% in Q1 2026, up from 11% in Q4 2025.

• Net loss for Q1 2026 was $22.7 million, a significant improvement from $147.8 million in Q1 2025.

• Adjusted EBITDA loss for Q1 2026 was $13.9 million, improved from $15.4 million in Q1 2025.

• Cash and cash equivalents as of March 31, 2026: $33.3 million.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $130 million, with revenue expected to be back-half weighted.

• Adjusted EBITDA loss guidance for 2026 remains $45–$50 million.

• Q2 revenue expected to exceed $11 million from NeoTensr, with additional contributions from other customers.

• AI Services expected to contribute 15–20% of 2026 revenue, mostly in Q4, and become a significant recurring revenue driver in 2027.

• Management highlights a robust pipeline with 25 proof-of-concept projects, 30 partners, and 20 design wins as of March 31, 2026.