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Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT). Click either name above to swap in a different company.
Blaize Holdings, Inc. is the larger business by last-quarter revenue ($23.8M vs $18.4M, roughly 1.3× NEXPOINT DIVERSIFIED REAL ESTATE TRUST). Blaize Holdings, Inc. runs the higher net margin — -13.9% vs -193.1%, a 179.2% gap on every dollar of revenue. On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs -29.0%).
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.
NexPoint Diversified Real Estate Trust is a publicly traded US real estate investment trust. It acquires, manages and optimizes a diversified portfolio covering multifamily housing, industrial facilities, offices and neighborhood retail, generating returns via rental income and long-term property value appreciation.
BZAI vs NXDT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $18.4M |
| Net Profit | $-3.3M | $-35.5M |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | -18.8% |
| Net Margin | -13.9% | -193.1% |
| Revenue YoY | 2377500.0% | -29.0% |
| Net Profit YoY | 50.7% | -291.1% |
| EPS (diluted) | $0.16 | $-0.73 |
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 | $18.4M | ||
| Q3 25 | $11.9M | $17.5M | ||
| Q2 25 | — | $21.0M | ||
| Q1 25 | — | $29.1M | ||
| Q4 24 | — | $25.9M | ||
| Q3 24 | — | $22.2M | ||
| Q2 24 | — | $22.3M | ||
| Q1 24 | — | $12.8M |
| Q4 25 | $-3.3M | $-35.5M | ||
| Q3 25 | $-26.3M | $-13.7M | ||
| Q2 25 | — | $-45.3M | ||
| Q1 25 | — | $-34.3M | ||
| Q4 24 | — | $-9.1M | ||
| Q3 24 | — | $-10.0M | ||
| Q2 24 | — | $-9.8M | ||
| Q1 24 | — | $-22.7M |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -89.8% | -18.8% | ||
| Q3 25 | -190.3% | -19.1% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | -26.8% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 2.1% |
| Q4 25 | -13.9% | -193.1% | ||
| Q3 25 | -221.3% | -78.4% | ||
| Q2 25 | — | -215.1% | ||
| Q1 25 | — | -118.0% | ||
| Q4 24 | — | -35.0% | ||
| Q3 24 | — | -45.2% | ||
| Q2 24 | — | -43.9% | ||
| Q1 24 | — | -177.3% |
| Q4 25 | $0.16 | $-0.73 | ||
| Q3 25 | $-0.25 | $-0.29 | ||
| Q2 25 | — | $-0.99 | ||
| Q1 25 | — | $-0.80 | ||
| Q4 24 | — | $-0.20 | ||
| Q3 24 | — | $-0.25 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $-0.59 |
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 | $8.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $700.1M |
| Total Assets | $102.2M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.8M | $8.2M | ||
| Q3 25 | $24.0M | $5.3M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $9.5M | ||
| Q4 24 | — | $8.8M | ||
| Q3 24 | — | $8.5M | ||
| Q2 24 | — | $28.4M | ||
| Q1 24 | — | $20.2M |
| Q4 25 | $39.0M | $700.1M | ||
| Q3 25 | $1.3M | $739.0M | ||
| Q2 25 | — | $752.7M | ||
| Q1 25 | — | $802.7M | ||
| Q4 24 | — | $836.5M | ||
| Q3 24 | — | $842.9M | ||
| Q2 24 | — | $859.1M | ||
| Q1 24 | — | $863.0M |
| Q4 25 | $102.2M | $1.1B | ||
| Q3 25 | $60.9M | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.1B |
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 | $9.2M |
| 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 | $9.2M | ||
| Q3 25 | $-24.9M | $835.0K | ||
| Q2 25 | — | $75.0K | ||
| Q1 25 | — | $7.1M | ||
| Q4 24 | — | $-11.7M | ||
| Q3 24 | — | $497.0K | ||
| Q2 24 | — | $-5.5M | ||
| Q1 24 | — | $-2.6M |
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -69.6% | — | ||
| Q3 25 | -210.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
