Blaize Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-210.3	-61.2	-87.59	-104.63
Depreciation & Amortization	1.21	0.89	2.04	2.75
Other Amortization	0.46	0.46	3.15	-
Stock-Based Compensation	3.85	3.85	2.48	1.25
Provision & Write-off of Bad Debts	0.57	0.57	0.42	-
Other Operating Activities	142.53	15.25	48.16	58.49
Change in Accounts Receivable	-0.15	-0.15	1	-1.89
Change in Inventory	-2.04	-2.04	-2.19	-0.91
Change in Accounts Payable	10.99	10.99	9.5	4.42
Change in Income Taxes	2.11	2.11	-0.59	0.2
Change in Other Net Operating Assets	-24.26	-24.26	-4.34	0.09
Operating Cash Flow	-75.03	-53.53	-27.96	-40.22
Capital Expenditures	-0.44	-0.9	-0.22	-0.49
Investing Cash Flow	-0.44	-0.9	-0.22	-0.49
Short-Term Debt Issued	-	-	4.93	-
Long-Term Debt Issued	-	110.72	21.73	33.77
Total Debt Issued	-	110.72	26.65	33.77
Short-Term Debt Repaid	-	-4.75	-0.18	-
Total Debt Repaid	-0.11	-4.75	-0.18	-
Net Debt Issued (Repaid)	-0.11	105.97	26.47	33.77
Issuance of Common Stock	20.06	0.1	0	0.13
Other Financing Activities	11.16	-4.36	-	-0.08
Financing Cash Flow	31.1	101.71	26.48	39.09
Net Cash Flow	-44.38	47.28	-1.7	-1.63
Free Cash Flow	-75.48	-54.43	-28.18	-40.72
Free Cash Flow Margin	-508.03%	-3502.83%	-730.68%	-1060.01%
Free Cash Flow Per Share	-0.95	-3.12	-6.69	-28.18
Cash Interest Paid	0.25	0.25	0	-
Cash Income Tax Paid	0.22	0.22	-	0.45
Levered Free Cash Flow	-25.37	-28.23	-34.44	-
Unlevered Free Cash Flow	-25.83	-28.4	-13.22	-
Change in Working Capital	-13.35	-13.35	3.38	1.92

Source: S&P Capital IQ. Standard template. Financial Sources.