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Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and GERON CORP (GERN). Click either name above to swap in a different company.
GERON CORP is the larger business by last-quarter revenue ($47.2M vs $23.8M, roughly 2.0× Blaize Holdings, Inc.). Blaize Holdings, Inc. runs the higher net margin — -13.9% vs -39.0%, a 25.2% gap on every dollar of revenue. On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs 67.1%).
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.
Geron Corporation is a biotechnology company located in Foster City, California which specializes in developing and commercializing therapeutic products for cancer that inhibit telomerase.
BZAI vs GERN — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $47.2M |
| Net Profit | $-3.3M | $-18.4M |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | -29.4% |
| Net Margin | -13.9% | -39.0% |
| Revenue YoY | 2377500.0% | 67.1% |
| Net Profit YoY | 50.7% | 30.3% |
| EPS (diluted) | $0.16 | $-0.03 |
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 | — | ||
| Q3 25 | $11.9M | $47.2M | ||
| Q2 25 | — | $49.0M | ||
| Q1 25 | — | $39.6M | ||
| Q3 24 | — | $28.3M | ||
| Q2 24 | — | $882.0K | ||
| Q1 24 | — | $304.0K | ||
| Q4 23 | — | $23.0K |
| Q4 25 | $-3.3M | — | ||
| Q3 25 | $-26.3M | $-18.4M | ||
| Q2 25 | — | $-16.4M | ||
| Q1 25 | — | $-19.8M | ||
| Q3 24 | — | $-26.4M | ||
| Q2 24 | — | $-67.4M | ||
| Q1 24 | — | $-55.4M | ||
| Q4 23 | — | — |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | -89.8% | — | ||
| Q3 25 | -190.3% | -29.4% | ||
| Q2 25 | — | -25.4% | ||
| Q1 25 | — | -42.2% | ||
| Q3 24 | — | -99.8% | ||
| Q2 24 | — | -7860.9% | ||
| Q1 24 | — | -18465.1% | ||
| Q4 23 | — | — |
| Q4 25 | -13.9% | — | ||
| Q3 25 | -221.3% | -39.0% | ||
| Q2 25 | — | -33.4% | ||
| Q1 25 | — | -50.1% | ||
| Q3 24 | — | -93.5% | ||
| Q2 24 | — | -7639.8% | ||
| Q1 24 | — | -18220.4% | ||
| Q4 23 | — | — |
| Q4 25 | $0.16 | — | ||
| Q3 25 | $-0.25 | $-0.03 | ||
| Q2 25 | — | $-0.02 | ||
| Q1 25 | — | $-0.03 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.10 | ||
| Q1 24 | — | $-0.09 | ||
| Q4 23 | — | — |
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 | $78.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $248.7M |
| Total Assets | $102.2M | $567.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.8M | — | ||
| Q3 25 | $24.0M | $78.1M | ||
| Q2 25 | — | $77.7M | ||
| Q1 25 | — | $83.7M | ||
| Q3 24 | — | $60.3M | ||
| Q2 24 | — | $116.9M | ||
| Q1 24 | — | $189.8M | ||
| Q4 23 | — | $70.0M |
| Q4 25 | $39.0M | — | ||
| Q3 25 | $1.3M | $248.7M | ||
| Q2 25 | — | $259.5M | ||
| Q1 25 | — | $268.2M | ||
| Q3 24 | — | $292.3M | ||
| Q2 24 | — | $306.7M | ||
| Q1 24 | — | $344.9M | ||
| Q4 23 | — | $247.9M |
| Q4 25 | $102.2M | — | ||
| Q3 25 | $60.9M | $567.4M | ||
| Q2 25 | — | $555.2M | ||
| Q1 25 | — | $562.5M | ||
| Q3 24 | — | $444.9M | ||
| Q2 24 | — | $449.4M | ||
| Q1 24 | — | $482.1M | ||
| Q4 23 | — | $394.1M |
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 | $-13.6M |
| 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 | — | ||
| Q3 25 | $-24.9M | $-13.6M | ||
| Q2 25 | — | $-27.4M | ||
| Q1 25 | — | $-48.0M | ||
| Q3 24 | — | $-58.9M | ||
| Q2 24 | — | $-53.5M | ||
| Q1 24 | — | $-62.3M | ||
| Q4 23 | — | $-167.7M |
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-53.7M | ||
| Q1 24 | — | $-62.9M | ||
| Q4 23 | — | $-168.6M |
| Q4 25 | -69.6% | — | ||
| Q3 25 | -210.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -6086.6% | ||
| Q1 24 | — | -20680.3% | ||
| Q4 23 | — | -732926.1% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 23.4% | ||
| Q1 24 | — | 202.3% | ||
| Q4 23 | — | 3608.7% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
