Financial Statements — BLZE
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 |
|---|
| Cash & Equivalents | 26.28 | 29.08 | 32.19 | 40.61 | 2.95 | 9.27 | 6.32 | 9.02 | 5.89 | 4.05 | 27.53 | 7.41 | 19.29 | 4.68 |
| Short-term Investments | 19.21 | 21.20 | 18.35 | 12.63 | 17.93 | 14.37 | 21.84 | 20.73 | 30.93 | 45.51 | 52.63 | 80.84 | 79.84 | -- |
| Accounts Receivable | 4.26 | 3.36 | 3.24 | 1.77 | 2.76 | 1.81 | 1.62 | 1.99 | 0.83 | 0.79 | 0.72 | 0.39 | 0.24 | 0.12 |
| Total Current Assets | 62.84 | 64.99 | 64.45 | 65.02 | 31.90 | 33.71 | 38.72 | 44.88 | 44.73 | 57.97 | 84.53 | 94.61 | 105.29 | 8.80 |
| Property, Plant & Equipment | 61.31 | 55.76 | 49.94 | 45.66 | 41.53 | 41.04 | 42.59 | 49.57 | 51.58 | 50.32 | 49.81 | 48.30 | 43.68 | 40.40 |
| Total Non-current Assets* | 129.83 | 126.54 | 121.59 | 105.15 | 104.35 | 94.06 | 93.17 | 60.10 | 57.30 | 56.60 | 72.38 | 65.87 | 58.92 | 51.59 |
| Total Assets | 192.67 | 191.53 | 186.05 | 170.16 | 136.24 | 127.78 | 131.89 | 134.75 | 134.56 | 142.93 | 156.91 | 160.48 | 164.20 | 60.40 |
| Accounts Payable | -- | -- | -- | -- | 1.67 | 1.15 | 1.44 | 1.99 | 2.46 | 3.35 | 2.72 | 1.97 | 2.53 | 1.40 |
| Total Current Liabilities | 59.94 | 59.28 | 59.91 | 59.48 | 59.20 | 55.06 | 55.66 | 60.98 | 51.04 | 53.37 | 54.22 | 52.01 | 51.25 | 40.86 |
| Total Non-current Liabilities* | 48.09 | 49.42 | 46.49 | 32.92 | 34.22 | 27.62 | 28.77 | 26.42 | 29.33 | 28.99 | 26.17 | 25.48 | 25.38 | 31.66 |
| Total Liabilities | 108.02 | 108.70 | 106.40 | 92.40 | 93.41 | 82.68 | 84.43 | 87.39 | 80.37 | 82.36 | 80.39 | 77.49 | 76.64 | 72.52 |
| Retained Earnings | (227.74) | (216.18) | (212.41) | (205.31) | (181.61) | (168.85) | (158.51) | (135.25) | (119.19) | (104.85) | (73.25) | (60.45) | (48.87) | (26.74) |
| Total Stockholder Equity | 84.64 | 82.83 | 79.64 | 77.77 | 42.83 | 45.10 | 47.45 | 47.36 | 54.19 | 60.57 | 76.52 | 82.99 | 87.57 | (14.91) |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Total Revenue | 38.67 | 37.76 | 37.16 | 36.30 | 34.61 | 33.79 | 32.59 | 31.29 | 29.97 | 28.74 | 25.30 | 24.59 | 23.39 | 22.93 | 22.05 | 20.69 | 19.49 | 18.70 | 17.32 |
| Cost of Revenue | 15.14 | 14.34 | 14.09 | 13.26 | 15.36 | 15.28 | 14.79 | 14.06 | 14.16 | 13.65 | 13.55 | 12.54 | 12.43 | 11.22 | 10.84 | 9.56 | 9.68 | 8.86 | 8.52 |
| Gross Profit | 23.53 | 23.43 | 23.07 | 23.04 | 19.26 | 18.50 | 17.80 | 17.23 | 15.81 | 15.08 | 11.75 | 12.05 | 10.97 | 11.71 | 11.22 | 11.13 | 9.81 | 9.83 | 8.80 |
| Research & Development | 11.29 | 11.14 | 11.24 | 11.88 | 11.86 | 12.03 | 10.73 | 9.59 | 9.75 | 9.43 | 9.64 | 9.93 | 10.53 | 8.61 | 8.15 | 8.40 | 7.94 | 6.22 | 5.34 |
| Selling, General & Admin | 7.31 | 7.98 | 6.16 | 7.71 | 7.06 | 8.54 | 7.54 | 6.46 | 6.55 | 7.18 | 6.94 | 6.17 | 6.68 | 7.36 | 5.40 | 5.18 | 5.53 | 4.64 | 3.10 |
| Total Operating Expenses | 28.88 | 28.09 | 26.39 | 29.76 | 28.18 | 32.28 | 30.00 | 27.04 | 26.32 | 26.71 | 27.32 | 25.97 | 27.77 | 25.25 | 23.28 | 21.95 | 21.50 | 17.41 | 13.47 |
| Operating Income | (5.35) | (4.66) | (3.32) | (6.72) | (8.92) | (13.77) | (12.20) | (9.81) | (10.51) | (11.62) | (15.57) | (13.91) | (16.80) | (13.54) | (12.06) | (10.82) | (11.69) | (7.58) | (4.67) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.92 | 0.99 | 0.94 | 0.94 | 0.92 | 1.48 | 0.95 | 0.91 | 0.95 | 0.99 | 0.97 |
| Pretax Income | (6.12) | (5.41) | (3.78) | (7.10) | (9.24) | (14.38) | (12.75) | (10.35) | (11.05) | (12.21) | (16.05) | (14.34) | (17.11) | (14.46) | (12.80) | (11.61) | (12.56) | (9.64) | (5.99) |
| Tax Provision | 0.03 | 0.00 | 0.00 | 0.00 | 0.08 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.00 | (0.04) | (0.03) | (0.04) | 0.00 |
| Net Income | (6.15) | (5.41) | (3.78) | (7.10) | (9.32) | (14.38) | (12.75) | (10.35) | (11.05) | (12.21) | (16.05) | (14.34) | (17.11) | (14.49) | (12.80) | (11.57) | (12.53) | (9.60) | (5.99) |
| Basic EPS | (0.10) | (0.09) | (0.07) | (0.13) | (0.17) | (0.30) | (0.29) | (0.25) | (0.27) | (0.31) | (0.44) | (0.41) | (0.50) | (0.44) | (0.40) | (0.37) | (0.41) | (0.43) | (0.32) |
| Diluted EPS | (0.10) | (0.09) | (0.07) | (0.13) | (0.17) | (0.30) | (0.29) | (0.25) | (0.27) | (0.31) | (0.44) | (0.41) | (0.50) | (0.44) | (0.40) | (0.37) | (0.41) | (0.43) | (0.32) |
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Operating Cash Flow | 3.36 | 9.31 | 5.74 | 3.55 | 4.94 | 2.23 | 4.63 | 2.23 | 3.42 | 3.25 | (0.17) | (5.24) | (5.19) | (3.14) | (2.45) | 0.07 | (0.90) | (2.44) | 5.96 |
| Capital Expenditures | 0.65 | 0.27 | 3.14 | 0.78 | 0.50 | 0.83 | 0.19 | 0.27 | 0.42 | 0.45 | 0.35 | 1.70 | 3.02 | 3.29 | 2.56 | 0.99 | 0.52 | 0.69 | 6.89 |
| Free Cash Flow* | 2.71 | 9.05 | 2.60 | 2.76 | 4.44 | 1.41 | 4.44 | 1.96 | 2.99 | 2.80 | (0.52) | (6.93) | (8.21) | (6.43) | (5.01) | (0.92) | (1.42) | (3.13) | (0.93) |
| Investing Cash Flow | 0.29 | (3.12) | (7.53) | (8.56) | (6.13) | 5.75 | (6.94) | 3.84 | (8.78) | (0.42) | 5.05 | 9.72 | 7.31 | (11.89) | 23.04 | (3.53) | (81.48) | (1.30) | (9.89) |
| Financing Cash Flow | (6.55) | (6.09) | (1.32) | (3.41) | (3.98) | 30.16 | (4.01) | (3.11) | (0.26) | (1.29) | (3.68) | (2.11) | (1.77) | (1.33) | (0.47) | (1.23) | (3.18) | 104.07 | 2.53 |
* Derived from reported values
