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Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and HAWTHORN BANCSHARES, INC. (HWBK). Click either name above to swap in a different company.
Blaize Holdings, Inc. is the larger business by last-quarter revenue ($23.8M vs $21.2M, roughly 1.1× HAWTHORN BANCSHARES, INC.). On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs 12.2%). HAWTHORN BANCSHARES, INC. produced more free cash flow last quarter ($22.8M vs $-16.5M).
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.
Hawthorn Bancshares, Inc. is a U.S. regional bank holding company operating through its wholly owned subsidiary Hawthorn Bank. It provides a full range of retail and commercial banking services including deposit products, mortgage loans, small business financing, commercial lending, and wealth management solutions, primarily serving individual customers and small to mid-sized enterprises across local communities in Missouri.
BZAI vs HWBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $21.2M |
| Net Profit | $-3.3M | — |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | 35.7% |
| Net Margin | -13.9% | — |
| Revenue YoY | 2377500.0% | 12.2% |
| Net Profit YoY | 50.7% | — |
| EPS (diluted) | $0.16 | $0.90 |
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 | $21.2M | ||
| Q3 25 | $11.9M | $20.6M | ||
| Q2 25 | — | $19.7M | ||
| Q1 25 | — | $18.8M | ||
| Q4 24 | — | $18.9M | ||
| Q3 24 | — | $18.1M | ||
| Q2 24 | — | $18.2M | ||
| Q1 24 | — | $17.8M |
| Q4 25 | $-3.3M | — | ||
| Q3 25 | $-26.3M | $6.1M | ||
| Q2 25 | — | $6.1M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.6M | ||
| Q2 24 | — | $4.6M | ||
| Q1 24 | — | $4.5M |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -89.8% | 35.7% | ||
| Q3 25 | -190.3% | 36.4% | ||
| Q2 25 | — | 37.9% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 31.1% | ||
| Q2 24 | — | 31.2% | ||
| Q1 24 | — | 30.5% |
| Q4 25 | -13.9% | — | ||
| Q3 25 | -221.3% | 29.8% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 28.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 25.5% | ||
| Q1 24 | — | 25.1% |
| Q4 25 | $0.16 | $0.90 | ||
| Q3 25 | $-0.25 | $0.88 | ||
| Q2 25 | — | $0.88 | ||
| Q1 25 | — | $0.77 | ||
| Q4 24 | — | $0.66 | ||
| Q3 24 | — | $0.66 | ||
| Q2 24 | — | $0.66 | ||
| Q1 24 | — | $0.63 |
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 | $104.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $174.2M |
| Total Assets | $102.2M | $1.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.8M | $104.3M | ||
| Q3 25 | $24.0M | $99.9M | ||
| Q2 25 | — | $100.3M | ||
| Q1 25 | — | $102.3M | ||
| Q4 24 | — | $51.0M | ||
| Q3 24 | — | $54.2M | ||
| Q2 24 | — | $75.8M | ||
| Q1 24 | — | $43.5M |
| Q4 25 | $39.0M | $174.2M | ||
| Q3 25 | $1.3M | $164.9M | ||
| Q2 25 | — | $156.8M | ||
| Q1 25 | — | $153.4M | ||
| Q4 24 | — | $149.5M | ||
| Q3 24 | — | $146.5M | ||
| Q2 24 | — | $138.2M | ||
| Q1 24 | — | $136.6M |
| Q4 25 | $102.2M | $1.9B | ||
| Q3 25 | $60.9M | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.8B |
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 | $26.9M |
| Free Cash FlowOCF − Capex | $-16.5M | $22.8M |
| FCF MarginFCF / Revenue | -69.6% | 107.9% |
| Capex IntensityCapex / Revenue | 0.3% | 19.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $32.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.5M | $26.9M | ||
| Q3 25 | $-24.9M | $288.0K | ||
| Q2 25 | — | $5.8M | ||
| Q1 25 | — | $5.7M | ||
| Q4 24 | — | $25.6M | ||
| Q3 24 | — | $9.1M | ||
| Q2 24 | — | $8.9M | ||
| Q1 24 | — | $5.6M |
| Q4 25 | $-16.5M | $22.8M | ||
| Q3 25 | $-24.9M | $-734.0K | ||
| Q2 25 | — | $5.1M | ||
| Q1 25 | — | $5.5M | ||
| Q4 24 | — | $22.6M | ||
| Q3 24 | — | $8.1M | ||
| Q2 24 | — | $8.4M | ||
| Q1 24 | — | $5.1M |
| Q4 25 | -69.6% | 107.9% | ||
| Q3 25 | -210.2% | -3.6% | ||
| Q2 25 | — | 25.9% | ||
| Q1 25 | — | 29.1% | ||
| Q4 24 | — | 119.7% | ||
| Q3 24 | — | 44.9% | ||
| Q2 24 | — | 46.2% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | 0.3% | 19.3% | ||
| Q3 25 | 0.2% | 5.0% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 3.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 1.07× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.99× | ||
| Q2 24 | — | 1.93× | ||
| Q1 24 | — | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
