Filing Flows › Blaize Holdings (BZAI) › Q1 2026
Blaize Holdings (BZAI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Blaize Holdings (BZAI) reported revenue of $2.7M for the first quarter 2026 (Q1 2026), +172% from a year earlier and -88% from the quarter before. Operating margin was -854.2%, net loss $22.7M (827.4% of revenue).
Blaize Holdings, Q1 2026: revenue $2.7M (+172% year over year), operating margin -854.2%, net loss $22.7M, operating cash flow −$12.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7M | -88% | +172% |
| Operating profit | −$23.4M | — | — |
| Net earnings | −$22.7M | — | — |
| Operating cash flow | −$12.6M | — | — |
What changed
Revenue was $2.7M in Q1 2026, up 172% year over year and down 88% from the previous quarter.
Gross margin was 57.6%, down 10.0 points from Q1 2025. Operating costs exceeded revenue by $23.4M, an operating margin of -854.2%. Operating expenses fell 35% while revenue rose 172%. The fastest-growing cost line was Other operating costs (+25%). The quarter ended with a net loss of $22.7M, wider than the previous quarter's $3.3M loss.
Operating cash flow was −$12.6M. Non-cash charges added back $8.9M of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $116K exceeded it, leaving free cash flow of −$12.7M.
Questions
What was Blaize Holdings' revenue in the first quarter 2026?
Blaize Holdings (BZAI) reported revenue of $2.7M for the first quarter 2026 (Q1 2026), +172% from a year earlier and -88% from the quarter before.
Was Blaize Holdings profitable in the first quarter 2026?
Operating loss was $23.4M (-854.2% of revenue) and net loss $22.7M.
Source: Blaize Holdings 10-Q on SEC EDGAR.