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Side-by-side financial comparison of Blaize Holdings, Inc. (BZAI) and Xilio Therapeutics, Inc. (XLO). Click either name above to swap in a different company.
Blaize Holdings, Inc. is the larger business by last-quarter revenue ($23.8M vs $13.7M, roughly 1.7× Xilio Therapeutics, Inc.). Xilio Therapeutics, Inc. runs the higher net margin — 75.7% vs -13.9%, a 89.6% gap on every dollar of revenue. Xilio Therapeutics, Inc. produced more free cash flow last quarter ($-2.1M 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.
Xilio Therapeutics is a clinical-stage biotechnology company dedicated to developing novel tumor-selective immunotherapies for cancer treatment. Its product pipeline features candidates engineered to trigger anti-tumor immune responses specifically inside tumor microenvironments, reducing systemic toxicities, and it primarily targets oncology patient populations in North America and other global markets.
BZAI vs XLO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.8M | $13.7M |
| Net Profit | $-3.3M | $10.4M |
| Gross Margin | 10.8% | — |
| Operating Margin | -89.8% | -86.5% |
| Net Margin | -13.9% | 75.7% |
| Revenue YoY | 2377500.0% | — |
| Net Profit YoY | 50.7% | 179.1% |
| EPS (diluted) | $0.16 | $-3.74 |
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 | $13.7M | ||
| Q3 25 | $11.9M | $19.1M | ||
| Q2 25 | — | $8.1M | ||
| Q1 25 | — | $2.9M |
| Q4 25 | $-3.3M | $10.4M | ||
| Q3 25 | $-26.3M | $-16.3M | ||
| Q2 25 | — | $-15.8M | ||
| Q1 25 | — | $-13.3M |
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — |
| Q4 25 | -89.8% | -86.5% | ||
| Q3 25 | -190.3% | -10.1% | ||
| Q2 25 | — | -177.7% | ||
| Q1 25 | — | -472.7% |
| Q4 25 | -13.9% | 75.7% | ||
| Q3 25 | -221.3% | -85.4% | ||
| Q2 25 | — | -196.0% | ||
| Q1 25 | — | -452.7% |
| Q4 25 | $0.16 | $-3.74 | ||
| Q3 25 | $-0.25 | $-0.11 | ||
| Q2 25 | — | $-0.16 | ||
| Q1 25 | — | $-0.18 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.0M | $35.3M |
| Total Assets | $102.2M | $154.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.8M | $137.5M | ||
| Q3 25 | $24.0M | $103.8M | ||
| Q2 25 | — | $121.6M | ||
| Q1 25 | — | $89.1M |
| Q4 25 | $39.0M | $35.3M | ||
| Q3 25 | $1.3M | $-8.1M | ||
| Q2 25 | — | $7.1M | ||
| Q1 25 | — | $10.7M |
| Q4 25 | $102.2M | $154.7M | ||
| Q3 25 | $60.9M | $133.7M | ||
| Q2 25 | — | $133.8M | ||
| Q1 25 | — | $103.7M |
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 | $-2.0M |
| Free Cash FlowOCF − Capex | $-16.5M | $-2.1M |
| FCF MarginFCF / Revenue | -69.6% | -15.3% |
| Capex IntensityCapex / Revenue | 0.3% | 0.7% |
| Cash ConversionOCF / Net Profit | — | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.5M | $-2.0M | ||
| Q3 25 | $-24.9M | $-17.5M | ||
| Q2 25 | — | $-14.5M | ||
| Q1 25 | — | $29.0M |
| Q4 25 | $-16.5M | $-2.1M | ||
| Q3 25 | $-24.9M | — | ||
| Q2 25 | — | $-14.9M | ||
| Q1 25 | — | $29.0M |
| Q4 25 | -69.6% | -15.3% | ||
| Q3 25 | -210.2% | — | ||
| Q2 25 | — | -184.0% | ||
| Q1 25 | — | 988.3% |
| Q4 25 | 0.3% | 0.7% | ||
| Q3 25 | 0.2% | 0.0% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | 0.8% |
| Q4 25 | — | -0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
