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Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and VersaBank (VBNK). Click either name above to swap in a different company.
VersaBank is the larger business by last-quarter revenue ($26.7M vs $23.8M, roughly 1.1× Blaize Holdings, Inc.). VersaBank runs the higher net margin — 30.3% vs -13.9%, a 44.2% gap on every dollar of revenue. On growth, Blaize Holdings, Inc. posted the faster year-over-year revenue change (2377500.0% vs 31.2%).
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.
VersaBank is a Canada-based digital-first financial institution offering commercial lending, high-interest deposit accounts and customized financial services for SMEs, retail clients and institutional partners across North America. It operates no physical branches, using secure digital infrastructure to deliver efficient, cost-effective banking experiences.
BZAI vs VBNK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $26.7M |
| Net Profit | $-3.3M | $8.1M |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | — |
| Net Margin | -13.9% | 30.3% |
| Revenue YoY | 2377500.0% | 31.2% |
| Net Profit YoY | 50.7% | 35.9% |
| EPS (diluted) | $0.16 | — |
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.
| Q1 26 | — | $26.7M | ||
| Q4 25 | $23.8M | — | ||
| Q3 25 | $11.9M | $23.1M | ||
| Q2 25 | — | $22.0M | ||
| Q1 25 | — | $20.3M | ||
| Q3 24 | — | $19.7M | ||
| Q2 24 | — | $20.8M | ||
| Q1 24 | — | $21.1M |
| Q1 26 | — | $8.1M | ||
| Q4 25 | $-3.3M | — | ||
| Q3 25 | $-26.3M | $4.8M | ||
| Q2 25 | — | $6.2M | ||
| Q1 25 | — | $5.9M | ||
| Q3 24 | — | $7.1M | ||
| Q2 24 | — | $8.6M | ||
| Q1 24 | — | $9.3M |
| Q1 26 | — | — | ||
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | -89.8% | — | ||
| Q3 25 | -190.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q1 26 | — | 30.3% | ||
| Q4 25 | -13.9% | — | ||
| Q3 25 | -221.3% | 20.8% | ||
| Q2 25 | — | 28.3% | ||
| Q1 25 | — | 29.3% | ||
| Q3 24 | — | 35.9% | ||
| Q2 24 | — | 41.5% | ||
| Q1 24 | — | 44.0% |
| Q1 26 | — | — | ||
| Q4 25 | $0.16 | — | ||
| Q3 25 | $-0.25 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $458.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $396.4M |
| Total Assets | $102.2M | $4.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $458.4M | ||
| Q4 25 | $45.8M | — | ||
| Q3 25 | $24.0M | $336.0M | ||
| Q2 25 | — | $248.3M | ||
| Q1 25 | — | $282.3M | ||
| Q3 24 | — | $181.0M | ||
| Q2 24 | — | $145.1M | ||
| Q1 24 | — | $93.1M |
| Q1 26 | — | $396.4M | ||
| Q4 25 | $39.0M | — | ||
| Q3 25 | $1.3M | $385.5M | ||
| Q2 25 | — | $385.7M | ||
| Q1 25 | — | $380.5M | ||
| Q3 24 | — | $298.6M | ||
| Q2 24 | — | $292.1M | ||
| Q1 24 | — | $284.0M |
| Q1 26 | — | $4.5B | ||
| Q4 25 | $102.2M | — | ||
| Q3 25 | $60.9M | $4.0B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.2B | ||
| Q1 24 | — | $3.1B |
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 | $40.6M |
| Free Cash FlowOCF − Capex | $-16.5M | — |
| FCF MarginFCF / Revenue | -69.6% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | 5.03× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.6M | ||
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-65.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-13.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | -69.6% | — | ||
| Q3 25 | -210.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q1 26 | — | 5.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -10.94× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1.43× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
