Demand and volumemixed · 2 filings
“Any such commitments made by Starshine are subject to issuance of purchase orders by Starshine.”10-K · Mar 24, 2026 ↗
Blaize Holdings, Inc.
BZAI
Market read
Blaize Holdings, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 11 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Company+6.1% todayVolume comparison unavailable
Market group0 of 11 activeAI and Digital Services · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- BZAI's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if BZAI's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 11 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- BZAI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods2
Price observations319
Usable filing statements63
Verified relationships1
Evidence supporting the case
- Latest annual revenue changed +2386.0% year over year.
- Operating margin changed +2796.5 percentage points in the latest annual period.
- Net margin changed +3402.3 percentage points in the latest annual period.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
- EV/sales is 95% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
0.526m-55.6%12m-87.0%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2024-12-31$1.6M—$-3.50—
2025-12-31$38.6M+2386.0%$-1.98—
What management says matters
Persistent and emerging business drivers
Supply chain and availabilitymixed · 2 filings
“This increase during the year ended December 31, 2025 was primarily due to stock-based compensation expense of $20.5 million, which is the largest component of payroll expense, which is, in turn, the largest component of SG&A.”10-K · Mar 24, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.4× · EV/sales 0.2×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Fewer than 4 annual revenue periods; too little history to scaffold scenarios.
Price action
How the market is pricing the story
0.52+6.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BZAI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for BZAI. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind BZAI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PLXSPlexus Corp.supplierAug 14, 2025 ▾
“We depend on third-party manufacturers, including Samsung Foundry and Plexus, for producing our products, and in the event of a disruption in our supply chain, any efforts to develop alternative supply sources may not be successful or may take longer to take…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BZAI is currently a Follower in the organic co-movement group AI and Digital Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BZAI; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.