Blaize Holdings, Inc. Q4 FY2024 earnings call

• Lane Bess highlighted Blaize's position in the edge AI space, comparing it to past successful tech companies and emphasizing the potential of edge AI. • Dinakar Munagala discussed key developments in Q4 2024, including finalized public market filings, growing commercial pipeline, advanced software roadmap, and key hires. • Partnerships with KAIST, alwaysAI, VSBLTY, and Turbo Federal were formalized, supporting near-term revenue visibility. • Focus on physical AI, addressing the gap in AI at the physical edge for mission-critical settings. • R&D priorities on low latency, power efficiency, and real-world deployment, with the Graph Streaming Processor enabling real-time inference at the edge. • Anticipated serviceable, addressable market for edge AI to grow to $71.3 billion globally by 2028.

In fiscal 2024, revenue was $1.6 million compared to $3.9 million in 2023, primarily from strategic consulting fees. Selling, general and administrative expenses excluding depreciation and amortization were $22.4 million in 2024, an increase of $5.1 million from 2023. Research and development costs grew to $25.1 million in 2024. Net loss for 2024 was $61.2 million, down 30% from 2023. Cash position at December 31, 2024, was $50.2 million.

• Fiscal 2025 revenue guidance: $19 million to $50 million. Adjusted EBITDA loss projected: $70 million to $75 million. Stock-based compensation expected: ~$20 million. • Q1 2025 revenue expected: ~$900,000. Adjusted EBITDA loss range: $15 million to $16 million. Stock-based compensation estimated: $7.7 million. • Solutions based on current silicon expected to support revenue growth over three plus years, with next-generation chip opening additional opportunities.

Q: Beyond hardware improvements, how do small model improvements contribute to long-term adoption of Edge AI solutions and what other areas are unlocked?

A: Small language models democratize AI and shift work to the edge. Blaize's programmable architecture is well-positioned to take advantage of shrinking models, impacting all major edge computing use cases.

Q: How do you filter partners to ensure best ROI?

A: Go-to-market includes direct engagement with high-value customers and collaboration with ecosystem partners (ISVs and system integrators) for a multiplier effect. Focus on beachhead customers for pilot and land-and-expand strategy.

Q: About inventory, what is being held in inventory?

A: Inventory includes finished goods, PCI cards in various form factors, and some SOCs from the contract manufacturer