Blaize (BZAI) Registration Filing summary

Company overview and business model

• Provides AI-enabled edge computing solutions with hardware and software for real-time insights and decision-making at low power, high efficiency, and low cost.

• Offers programmable AI processors and a low-code/no-code platform for deployment in smart city, defense, retail, and enterprise markets.

• Revenue is concentrated among a small number of significant customers, with a shift from services to hardware/software product sales in 2025.

• Entered a $104 million contract in the Persian Gulf region for defense solutions, though no revenue has been recognized from this contract as of January 2026.

• Completed a business combination in January 2025, resulting in a reverse merger and recapitalization.

Financial performance and metrics

• In the first nine months of 2025, 70% of revenue came from a non-related Asia Pacific customer and 20% from a related North American customer.

• In 2024, 98% of revenue was from two related parties in North America and Asia Pacific, primarily from services contracts that have since expired.

• All 2025 revenue was from hardware and software product sales; no services revenue was recognized.

• Auditors have included a going concern explanatory paragraph in their reports for both Blaize, Inc. and Blaize Holdings, Inc.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in the applicable prospectus supplement.