| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 11.99 | 337.6% | 505.6% |
| Total Income | 11.99 | 337.6% | 505.6% |
| Expenditure | 42.59 | 63.0% | 78.4% |
| PBT | -28.54 | 26.6% | 3.4% |
| Net Profit | -28.81 | 27.2% | 2.6% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.21 | 10.5% | 25.0% |
Blaize Holdings Reports Q2 2026 Revenue of $12.0 Million, Updates Full-Year Outlook
14 Aug 2026 · 14 Aug, 1:55 am
Summary
Blaize Holdings reported second-quarter revenue of $12.0 million, a substantial increase sequentially from $2.7 million in Q1 2026 and year-over-year from $2.0 million in Q2 2025. The company also secured a significant agreement for 2,000 servers valued at approximately $70.0 million. However, Blaize has revised its full-year 2026 revenue outlook to $40.0 million to $43.0 million, citing slower conversion of opportunities into orders and higher memory pricing. Gross margin declined to 8% in the quarter due to product mix, and net loss widened to $28.8 million.
Key Highlights
- 1
Second-quarter revenue was $12.0 million, a significant increase from $2.7 million in the first quarter of 2026.
- 2
Blaize reported revenue of $12.0 million for the second quarter, compared to $2.0 million in the second quarter of 2025.
- 3
The company closed a binding agreement for 2,000 servers, valued at approximately $70.0 million at current memory pricing, with $20.0 million expected as revenue in H2 2026 and $50.0 million in backlog for 2027.
- 4
Blaize updated its full-year 2026 revenue outlook to a range of $40.0 million to $43.0 million.
- 5
Gross margin for the second quarter was 8%, a decrease from 58% in Q1 2026 and 59% in Q2 2025, primarily due to a revenue mix weighted toward lower-margin third-party server hardware.
- 6
Net loss for the second quarter was $28.8 million, compared to a net loss of $22.7 million in Q1 2026 and $29.6 million in Q2 2025.
- 7
Adjusted EBITDA loss for the second quarter was $20.9 million, compared to an Adjusted EBITDA loss of $13.9 million in Q1 2026 and $12.9 million in Q2 2025.
Management Comments
Dinakar Munagala
While we delivered solid sequential revenue growth in the second quarter, we have reduced our full-year revenue outlook. What changed is the pace at which opportunity converts into orders, alongside materially higher memory pricing. At the same time, we are seeing broader commercial engagement across our target markets and customer base. We opened Europe this year and activity across Asia-Pacific has increased. We believe that diversification, together with more disciplined forecasting and execution, can provide a stronger foundation for more predictable growth over time.
Harminder Sehmi
Our revised full-year revenue outlook is weighted toward revenue from our largest customer and is based on binding, non-cancellable purchase orders that we believe we can fulfill with inventory commitments already made or planned. We have excluded opportunities that are still advancing, regardless of how far along they may be. This provides a more disciplined basis for our outlook for the remainder of 2026. We are also reviewing our cost structure against our revenue priorities, with an emphasis on operating discipline, optimizing cash consumption and preserving the core capabilities required to execute our strategy.
Informational and educational content only. Not investment advice.