Press Release: Blaize Announces First Quarter 2026 Financial Results

   --  Four new strategic partnerships announced with NeoTensr, Nokia, 
      Datacomm Diangraha, and Winmate 
 
   --  Blaize AI Services platform announced at GITEX AI 2026, with face 
      recognition being the first application-level AI service 
 
   --  Strengthened capitalization through $35 million registered equity 
      offering supported by large institutional investors 
 
   --  Full year 2026 revenue guidance reaffirmed at $130 million 
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--May 14, 2026-- 

Blaize Holdings, Inc. (NASDAQ: BZAI, NASDAQ: BZAIW) ("Blaize," the "Company," "we," "us," and "our"), a leader in programmable, energy-efficient edge AI computing, today announced financial results for the first quarter ended March 31, 2026, reflecting continued strong and focused execution as edge AI infrastructure draws increased global attention.

Blaize reflected a breakout growth year in 2025, and expects 2026 to continue that trend, anchored by four new strategic partnerships, the rollout of the Blaize AI Services platform, and a strengthened capital position. These developments are anticipated to bring a diversified and expanded customer pipeline geographically and broaden Blaize's exposure across data center, sovereign AI, and rugged edge markets.

"Our recent commercial engagements each mark something specific about where Blaize is heading. Our new NeoTensr contract has recently resulted in an $11 million purchase order, which we expect to fulfill in the second quarter. Nokia brings us into the global AI infrastructure space through its AI cloud provider business, with Datacomm as the first reference cloud service provider customer of that joint engagement. We expect our partnership with Winmate to result in Blaize chips in rugged platforms at commercial scale across public safety and critical infrastructure. The rollout of Blaize AI Services, starting with face recognition, marks a shift in our model toward additional recurring, API-based revenue," said Dinakar Munagala, co-founder and CEO of Blaize. "Together these extend our reach, deepen the pipeline, and shape a more durable long-term revenue mix."

Business and Operational Highlights

   --  Asia Pacific Edge Data Center Expansion with NeoTensr. Blaize signed a 
      contract with NeoTensr valued at up to $50 million for co-branded edge AI, 
      building upon Blaize's fourth quarter 2025 order from NeoTensr of over 
      $20 million. The partnership targets multi-edge inference deployment 
      across Asia Pacific using Blaize's hybrid architecture and the new Blaize 
      AI Services stack. 
 
   --  Announcement of Blaize AI Services and Face Recognition. At GITEX AI 
      2026, Blaize introduced Blaize AI Services, a platform designed to help 
      cloud providers, data center operators, system integrators, and 
      enterprises deploy application-level AI services faster and at lower 
      cost. Blaize AI Services is expected to create recurring and higher 
      margin revenue. Face recognition, as the first application service on the 
      platform, has now been released, signifying the Company's addition of 
      recurring, API-based, per-query revenue to its hardware revenue. 
      Additional services are expected to follow. 
 
   --  Blaize, Nokia, and Datacomm Strategic Alliance. Blaize, Nokia, and 
      Datacomm announced a strategic alliance to deliver hybrid AI inference 
      infrastructure across Southeast Asia, with the joint architecture 
      designed for pre-integrated deployment combining AI Services and compute, 
      network, security, and lifecycle automation. The parties are exploring AI 
      inference solutions across Indonesia, with initial focus on physical AI, 
      public safety, surveillance, and industrial AI applications. Datacomm has 
      cited a 50% surge in regional AI inference demand over the past six 
      months. 
 
   --  Winmate Strategic Partnership. Blaize and Winmate signed a strategic 
      partnership agreement to bring AI to rugged defense and critical 
      infrastructure systems, with the parties intending to close approximately 
      $15 million in business during the first year and expectations to scale 
      meaningfully in subsequent years. Joint solutions combining Blaize's 
      energy-efficient, industrial-grade AI chips with Winmate's rugged 
      platforms are expected to include drones, handhelds, vehicle mounted 
      units, and embedded edge devices used by border security, maritime, 
      defense, and healthcare operations. 

"Our recent equity raise strengthened the balance sheet and drew strong participation from high-quality institutional investors, including marquee names with deep exposure to the data center and AI infrastructure ecosystem. The well-subscribed offering extends our financial runway and supports the growth initiatives ahead," said Harminder Sehmi, Chief Financial Officer of Blaize. "We remain focused on disciplined execution, with particular emphasis on building the inventory needed to fulfill our contracted pipeline."

First Quarter 2026 Financials

   --  First quarter 2026 revenue was $2.7 million, an increase of 172% year 
      over year. 
 
   --  Gross margin expanded to 58% compared to 11% in the fourth quarter of 
      2025. 
 
   --  Net loss was $22.7 million compared to net loss of $147.8 million in 
      the first quarter of 2025. 
 
   --  Adjusted EBITDA loss was $13.9 million compared to an Adjusted EBITDA 
      loss of $15.4 million in the first quarter of 2025. 

Strategic Equity Raise

On May 6, 2026, Blaize announced the pricing of a registered offering of 18.9 million shares of common stock at $1.85 per share, supported by a group of large institutional investors. The $35 million in proceeds, before fees and expenses, are expected to support execution of commercial deal commitments, continued development of Blaize AI Services, advancement of the rack-scale hybrid platform, and next-generation platform development.

Strategic Vision

Blaize is building toward hybrid rack-scale as the deployment unit for the next phase of AI. Our strategy is anchored on three pillars: sovereign infrastructure with customer-controlled compute; small LLMs as a service monetized per query through partners; and programmable, energy-efficient compute that runs vision and language workloads on a single stack.

Financial Outlook for Full Year Ending December 31, 2026

The following forward-looking statements are based on current expectations, and actual results may differ materially, as described below in "Cautionary Statement Regarding Forward-Looking Statements."

   --  Revenue of approximately $130.0 million 
 
   --  Adjusted EBITDA loss in the range of $45.0 million to $50.0 million 
 
   --  Stock-based compensation of approximately $34.4 million 
 
   --  Weighted average shares outstanding of approximately 142 million 
      shares 

Earnings Conference Call

Dinakar Munagala, co-founder and CEO of Blaize, and Harminder Sehmi, CFO of Blaize, will host a conference call at 2:00 p.m. Pacific Time today, May 14, 2026, to discuss the company's financial results and outlook. A live webcast will be accessible on Blaize's investor relations website at ir.blaize.com, and an archived conference call webcast will be available on Blaize's investor relations website for one year following the live call.

About Blaize

Blaize delivers a programmable AI platform, purpose-built for AI inference workloads in real-world environments. Its Hybrid AI architecture combines the Blaize GSP (Graph Streaming Processor), an efficient AI processor, with GPU-based infrastructure, enabling AI inference workloads to run across edge, cloud, and data center. Blaize solutions support computer vision, multimodal AI, and sensor-driven applications across smart cities, industrial automation, telecommunications, retail, logistics, and defense. Blaize is headquartered in El Dorado Hills, California, with a global presence across North America, Europe, the Middle East, and Asia. To learn more, visit www.blaize.com or follow us on LinkedIn @blaizeinc.

Non-GAAP Measures

In addition to financial measures presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"), we report certain key financial measures that are not required by, or presented in accordance with, GAAP. Non-GAAP financial information is presented for supplemental informational purposes only, should not be considered in isolation of, or as a substitute for or superior to, financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. Accordingly, you are cautioned not to place undue reliance on this information. We believe that along with our GAAP financial information, our non-GAAP financial information when taken collectively and evaluated appropriately, is helpful to investors in assessing our operating performance. In conjunction with net loss calculated in accordance with GAAP, we also use EBITDA and Adjusted EBITDA, as defined below, to evaluate our ongoing operations and for internal planning and forecasting purposes.

EBITDA and Adjusted EBITDA

(MORE TO FOLLOW) Dow Jones Newswires

May 14, 2026 16:06 ET (20:06 GMT)