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Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and CTO Realty Growth, Inc. (CTO). Click either name above to swap in a different company.

CTO Realty Growth, Inc. is the larger business by last-quarter revenue ($41.2M vs $23.8M, roughly 1.7× Blaize Holdings, Inc.). CTO Realty Growth, Inc. runs the higher net margin — 15.1% vs -13.9%, a 28.9% gap on every dollar of revenue. On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs 15.0%).

Blaize Holdings, Inc. is a technology company specializing in edge artificial intelligence computing solutions. It designs energy-efficient AI processors, low-latency inference software stacks, and end-to-end edge AI development tools, serving key segments including autonomous driving, industrial automation, smart cities, and edge healthcare monitoring.

Keller Williams Realty is an American technology and international real estate franchise with headquarters in Austin, Texas. It is the largest real estate franchise in the United States by sales volume as of 2022.

BZAI vs CTO — Head-to-Head

Bigger by revenue
CTO
CTO
1.7× larger
CTO
$41.2M
$23.8M
BZAI
Growing faster (revenue YoY)
BZAI
BZAI
+2377485.0% gap
BZAI
2377500.0%
15.0%
CTO
Higher net margin
CTO
CTO
28.9% more per $
CTO
15.1%
-13.9%
BZAI

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
BZAI
BZAI
CTO
CTO
Revenue
$23.8M
$41.2M
Net Profit
$-3.3M
$6.2M
Gross Margin
10.8%
Operating Margin
-89.8%
Net Margin
-13.9%
15.1%
Revenue YoY
2377500.0%
15.0%
Net Profit YoY
50.7%
174.4%
EPS (diluted)
$0.16
$0.13

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BZAI
BZAI
CTO
CTO
Q1 26
$41.2M
Q4 25
$23.8M
$38.3M
Q3 25
$11.9M
$37.8M
Q2 25
$37.6M
Q1 25
$35.8M
Q4 24
$35.7M
Q3 24
$31.8M
Q2 24
$28.8M
Net Profit
BZAI
BZAI
CTO
CTO
Q1 26
$6.2M
Q4 25
$-3.3M
$28.3M
Q3 25
$-26.3M
$2.9M
Q2 25
$-23.4M
Q1 25
$2.3M
Q4 24
$-15.2M
Q3 24
$6.2M
Q2 24
$1.2M
Gross Margin
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
10.8%
75.0%
Q3 25
15.0%
75.4%
Q2 25
73.0%
Q1 25
75.2%
Q4 24
74.4%
Q3 24
74.4%
Q2 24
71.1%
Operating Margin
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
-89.8%
75.1%
Q3 25
-190.3%
26.6%
Q2 25
-33.7%
Q1 25
22.0%
Q4 24
-20.4%
Q3 24
15.6%
Q2 24
18.8%
Net Margin
BZAI
BZAI
CTO
CTO
Q1 26
15.1%
Q4 25
-13.9%
73.9%
Q3 25
-221.3%
7.7%
Q2 25
-62.2%
Q1 25
6.3%
Q4 24
-42.6%
Q3 24
19.6%
Q2 24
4.1%
EPS (diluted)
BZAI
BZAI
CTO
CTO
Q1 26
$0.13
Q4 25
$0.16
$0.81
Q3 25
$-0.25
$0.03
Q2 25
$-0.77
Q1 25
$0.01
Q4 24
$-0.69
Q3 24
$0.17
Q2 24
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BZAI
BZAI
CTO
CTO
Cash + ST InvestmentsLiquidity on hand
$45.8M
$8.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$39.0M
$575.4M
Total Assets
$102.2M
$1.3B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BZAI
BZAI
CTO
CTO
Q1 26
$8.3M
Q4 25
$45.8M
$6.5M
Q3 25
$24.0M
$9.3M
Q2 25
$8.6M
Q1 25
$8.4M
Q4 24
$9.0M
Q3 24
$8.2M
Q2 24
$4.8M
Total Debt
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
$616.3M
Q3 25
$604.2M
Q2 25
$605.4M
Q1 25
$602.2M
Q4 24
$519.0M
Q3 24
$526.8M
Q2 24
$482.7M
Stockholders' Equity
BZAI
BZAI
CTO
CTO
Q1 26
$575.4M
Q4 25
$39.0M
$567.3M
Q3 25
$1.3M
$557.3M
Q2 25
$574.1M
Q1 25
$593.9M
Q4 24
$612.8M
Q3 24
$595.8M
Q2 24
$491.8M
Total Assets
BZAI
BZAI
CTO
CTO
Q1 26
$1.3B
Q4 25
$102.2M
$1.3B
Q3 25
$60.9M
$1.2B
Q2 25
$1.2B
Q1 25
$1.2B
Q4 24
$1.2B
Q3 24
$1.2B
Q2 24
$1.0B
Debt / Equity
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
1.09×
Q3 25
1.08×
Q2 25
1.05×
Q1 25
1.01×
Q4 24
0.85×
Q3 24
0.88×
Q2 24
0.98×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BZAI
BZAI
CTO
CTO
Operating Cash FlowLast quarter
$-16.5M
Free Cash FlowOCF − Capex
$-16.5M
FCF MarginFCF / Revenue
-69.6%
Capex IntensityCapex / Revenue
0.3%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
$-16.5M
$64.6M
Q3 25
$-24.9M
$25.5M
Q2 25
$21.9M
Q1 25
$10.3M
Q4 24
$59.9M
Q3 24
$21.2M
Q2 24
$12.9M
Free Cash Flow
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
$-16.5M
Q3 25
$-24.9M
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
FCF Margin
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
-69.6%
Q3 25
-210.2%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Capex Intensity
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
0.3%
Q3 25
0.2%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Cash Conversion
BZAI
BZAI
CTO
CTO
Q1 26
Q4 25
2.28×
Q3 25
8.75×
Q2 25
Q1 25
4.56×
Q4 24
Q3 24
3.40×
Q2 24
10.89×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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