vs
Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and DYNEX CAPITAL INC (DX). Click either name above to swap in a different company.
DYNEX CAPITAL INC is the larger business by last-quarter revenue ($43.5M vs $23.8M, roughly 1.8× Blaize Holdings, Inc.). On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs 531.3%).
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.
Dynex Capital Inc. is a publicly traded real estate investment trust headquartered in the United States. It specializes in investing in and managing a diversified portfolio of mortgage-backed securities, residential and commercial mortgage loans, and other mortgage-related assets. It delivers consistent returns to shareholders via regular dividends and long-term capital growth.
BZAI vs DX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $43.5M |
| Net Profit | $-3.3M | — |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | — |
| Net Margin | -13.9% | — |
| Revenue YoY | 2377500.0% | 531.3% |
| Net Profit YoY | 50.7% | — |
| EPS (diluted) | $0.16 | $1.59 |
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.
| Q4 25 | $23.8M | $43.5M | ||
| Q3 25 | $11.9M | $30.6M | ||
| Q2 25 | — | $23.1M | ||
| Q1 25 | — | $17.1M | ||
| Q1 24 | — | $-3.2M | ||
| Q4 22 | — | $6.2M | ||
| Q3 22 | — | $7.1M | ||
| Q2 22 | — | $14.1M |
| Q4 25 | $-3.3M | — | ||
| Q3 25 | $-26.3M | $150.4M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $-3.1M | ||
| Q1 24 | — | $40.1M | ||
| Q4 22 | — | $43.3M | ||
| Q3 22 | — | $-46.7M | ||
| Q2 22 | — | $29.3M |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -89.8% | — | ||
| Q3 25 | -190.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -13.9% | — | ||
| Q3 25 | -221.3% | 491.3% | ||
| Q2 25 | — | -58.8% | ||
| Q1 25 | — | -18.0% | ||
| Q1 24 | — | -1256.8% | ||
| Q4 22 | — | 697.2% | ||
| Q3 22 | — | -655.3% | ||
| Q2 22 | — | 208.5% |
| Q4 25 | $0.16 | $1.59 | ||
| Q3 25 | $-0.25 | $1.08 | ||
| Q2 25 | — | $-0.14 | ||
| Q1 25 | — | $-0.06 | ||
| Q1 24 | — | $0.64 | ||
| Q4 22 | — | $0.44 | ||
| Q3 22 | — | $-1.07 | ||
| Q2 22 | — | $0.69 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $45.8M | $531.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $2.5B |
| Total Assets | $102.2M | $17.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.8M | $531.0M | ||
| Q3 25 | $24.0M | $491.0M | ||
| Q2 25 | — | $387.5M | ||
| Q1 25 | — | $327.4M | ||
| Q1 24 | — | $295.7M | ||
| Q4 22 | — | $332.0M | ||
| Q3 22 | — | $260.4M | ||
| Q2 22 | — | $325.7M |
| Q4 25 | $39.0M | $2.5B | ||
| Q3 25 | $1.3M | $2.0B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.4B | ||
| Q1 24 | — | $958.5M | ||
| Q4 22 | — | $901.3M | ||
| Q3 22 | — | $771.3M | ||
| Q2 22 | — | $842.4M |
| Q4 25 | $102.2M | $17.3B | ||
| Q3 25 | $60.9M | $14.2B | ||
| Q2 25 | — | $11.3B | ||
| Q1 25 | — | $9.0B | ||
| Q1 24 | — | $6.3B | ||
| Q4 22 | — | $3.6B | ||
| Q3 22 | — | $4.0B | ||
| Q2 22 | — | $3.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-16.5M | $120.8M |
| 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.
| Q4 25 | $-16.5M | $120.8M | ||
| Q3 25 | $-24.9M | $68.3M | ||
| Q2 25 | — | $31.9M | ||
| Q1 25 | — | $6.4M | ||
| Q1 24 | — | $-17.1M | ||
| Q4 22 | — | $30.1M | ||
| Q3 22 | — | $25.5M | ||
| Q2 22 | — | $36.2M |
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -69.6% | — | ||
| Q3 25 | -210.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q1 24 | — | -0.43× | ||
| Q4 22 | — | 0.69× | ||
| Q3 22 | — | — | ||
| Q2 22 | — | 1.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
