Blaize Holdings Inc 2025年季度报告

Large accelerated filer☐Accelerated filerNon-accelerated filer☒Smaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ PART IFINANCIAL INFORMATIONFinancial Statements (unaudited) CondensedConsolidated Statements of Operations for the three months ended March 31, 2025 and 2024 (unaudited)CondensedConsolidated Statements of Stockholders’ Equity (Deficit) for the three months ended March 31, 2025 and 2024(unaudited) Notes to the Condensed Consolidated Financial Statements (unaudited)Management’s Discussion and Analysis of Financial Condition and Results of Operations Item 1A.Risk Factors Unregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety Disclosures Other InformationExhibits SIGNATURES statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E ofthe Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements relate to future events orfuture performance and include, without limitation, statements concerning our business strategy, future revenues, market growth,capital requirements, product introductions, expansion plans and the adequacy of our funding. Other statements contained in this forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “expects,” “anticipates,” “intends,” “plans,”“believes,” “seeks,” “estimates,” “continue,” “might,” “possible,” “potential,” “predict,” “project,” “goal,” “would,” “commit” andother stylistic variants denoting forward-looking statements.We caution investors that any forward-looking statements presented in this Quarterly Report, or that we may make orally or inwriting from time to time, are based on information currently available, as well as our beliefs and assumptions. The actual outcomerelated to forward-looking statements will be affected by known and unknown risks, trends, uncertainties, and factors that are statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends.The forward-looking statements contained in this Quarterly Report are based on current expectations and beliefs concerningfuture developments and their potential effects on us. There can be no assurance that future developments affecting us will be thosethat we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond ourcontrol), or other assumptions that may cause actual results or performance to be materially different from those expressed orimplied by these forward-looking statements. These risks and uncertainties include, but are not limited to: changes in domestic andforeign business, market, financial, political and legal conditions; the expected benefits of the Business Combination are notobtained; the ability to meet stock exchange listing standards following the consummation of the Business Combination; the riskthat the Business Combination disrupts current plans and operations of Blaize as a result of the consummation of the BusinessCombination; failure to realize the anticipated benefits of the Business Combination, which may be affected by, among otherthings, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships withcustomers and suppliers and retain its management and key employees; costs related to the Business Combination; changes inapplicable law or regulations; the outcome of any legal proceedings that may be instituted against Blaize; the effects of competitionon Blaize’s future business; the ability of the combined company to issue equity or equity-linked securities or obtain debt 3after the date of this Quarterly Report, except as may be required by law. Note 1.Organization and Description of BusinessOrganizationBlaize Holdings, Inc. (together with its subsidiaries, the "Company,” “Blaize,” “we,” “our,” “us,” or the “registrant,”) is America), Blaize New Computing Technologies India Private Limited (India), Blaize Technologies Philippines, Inc. (Philippines)and Blaize U.K. LTD (England). Description of BusinessBlaize designs and develops low-power, high-efficiency, programmable artificial intelligence (“AI”) edge computing automotive, retail, security and industrial markets.In November 2023, Blaize entered into a Memorandum of Understanding with a United Arab Emirates (“UAE”) based third-party investment entity to establish a cooperative framework for both entities to discuss and explore commercial and technicalcollaboration in the UAE. The collaboration is intended to be operationalized through a newly created entity, Blaize Artificial In the first quarter of 2025, the U.S.