vs
Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and Invivyd, Inc. (IVVD). Click either name above to swap in a different company.
Blaize Holdings, Inc. is the larger business by last-quarter revenue ($23.8M vs $17.2M, roughly 1.4× Invivyd, Inc.). Blaize Holdings, Inc. runs the higher net margin — -13.9% vs -64.3%, a 50.5% gap on every dollar of revenue. On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs 24.5%).
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.
Invivyd, Inc. is a clinical-stage biopharmaceutical company focused on developing broadly neutralizing antibody therapies to prevent and treat serious viral infectious diseases. Its core research and development pipeline targets high-burden respiratory pathogens including respiratory syncytial virus, catering to unmet medical needs of global patient groups.
BZAI vs IVVD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $17.2M |
| Net Profit | $-3.3M | $-11.1M |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | -73.0% |
| Net Margin | -13.9% | -64.3% |
| Revenue YoY | 2377500.0% | 24.5% |
| Net Profit YoY | 50.7% | 40.0% |
| EPS (diluted) | $0.16 | $0.02 |
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 | $17.2M | ||
| Q3 25 | $11.9M | $13.1M | ||
| Q2 25 | — | $11.8M | ||
| Q1 25 | — | $11.3M | ||
| Q4 24 | — | $13.8M | ||
| Q3 24 | — | $9.3M | ||
| Q2 24 | — | $2.3M | ||
| Q1 24 | — | $0 |
| Q4 25 | $-3.3M | $-11.1M | ||
| Q3 25 | $-26.3M | $-10.5M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $-16.3M | ||
| Q4 24 | — | $-18.4M | ||
| Q3 24 | — | $-60.7M | ||
| Q2 24 | — | $-47.2M | ||
| Q1 24 | — | $-43.5M |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -89.8% | -73.0% | ||
| Q3 25 | -190.3% | -84.0% | ||
| Q2 25 | — | -127.8% | ||
| Q1 25 | — | -149.7% | ||
| Q4 24 | — | -139.1% | ||
| Q3 24 | — | -670.0% | ||
| Q2 24 | — | -2175.2% | ||
| Q1 24 | — | — |
| Q4 25 | -13.9% | -64.3% | ||
| Q3 25 | -221.3% | -79.7% | ||
| Q2 25 | — | -124.4% | ||
| Q1 25 | — | -144.1% | ||
| Q4 24 | — | -133.5% | ||
| Q3 24 | — | -653.1% | ||
| Q2 24 | — | -2086.9% | ||
| Q1 24 | — | — |
| Q4 25 | $0.16 | $0.02 | ||
| Q3 25 | $-0.25 | $-0.06 | ||
| Q2 25 | — | $-0.12 | ||
| Q1 25 | — | $-0.14 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $-0.51 | ||
| Q2 24 | — | $-0.40 | ||
| Q1 24 | — | $-0.38 |
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 | $226.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $241.5M |
| Total Assets | $102.2M | $276.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.8M | $226.7M | ||
| Q3 25 | $24.0M | $85.0M | ||
| Q2 25 | — | $34.9M | ||
| Q1 25 | — | $48.1M | ||
| Q4 24 | — | $69.3M | ||
| Q3 24 | — | $106.9M | ||
| Q2 24 | — | $147.9M | ||
| Q1 24 | — | $189.4M |
| Q4 25 | $39.0M | $241.5M | ||
| Q3 25 | $1.3M | $93.1M | ||
| Q2 25 | — | $42.8M | ||
| Q1 25 | — | $54.1M | ||
| Q4 24 | — | $67.5M | ||
| Q3 24 | — | $83.2M | ||
| Q2 24 | — | $140.6M | ||
| Q1 24 | — | $178.5M |
| Q4 25 | $102.2M | $276.9M | ||
| Q3 25 | $60.9M | $139.2M | ||
| Q2 25 | — | $89.1M | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $129.5M | ||
| Q3 24 | — | $161.9M | ||
| Q2 24 | — | $177.3M | ||
| Q1 24 | — | $215.5M |
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 | $-15.5M |
| Free Cash FlowOCF − Capex | $-16.5M | — |
| FCF MarginFCF / Revenue | -69.6% | — |
| Capex IntensityCapex / Revenue | 0.3% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.5M | $-15.5M | ||
| Q3 25 | $-24.9M | $-8.3M | ||
| Q2 25 | — | $-13.3M | ||
| Q1 25 | — | $-21.1M | ||
| Q4 24 | — | $-37.6M | ||
| Q3 24 | — | $-41.1M | ||
| Q2 24 | — | $-41.6M | ||
| Q1 24 | — | $-50.2M |
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | $-13.3M | ||
| Q1 25 | — | $-21.3M | ||
| Q4 24 | — | $-37.6M | ||
| Q3 24 | — | $-41.1M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-50.4M |
| Q4 25 | -69.6% | — | ||
| Q3 25 | -210.2% | — | ||
| Q2 25 | — | -112.9% | ||
| Q1 25 | — | -188.2% | ||
| Q4 24 | — | -272.2% | ||
| Q3 24 | — | -441.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.3% | 0.0% | ||
| Q3 25 | 0.2% | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
