Aug 13, 2026 earnings call — Revenue outlook cut; focus on AI inference
Company cut full-year 2026 revenue guidance to between $40 million and $43 million.
Revenue $0.0B (est $0.0B) · EPS $-0.21 (est $-0.17) · Next-quarter revenue outlook $0.0B–$0.0B
Key quotes
"As mentioned, our revised guidance is between $40 million and $43 million for the full year 2026."
"We expect AI Services to become an increasingly important contributor of our margin over time."
"We project backlog at December 31 this year of approximately $50 million at current memory prices."
Analyst Q&A 4
Why customers delay and Europe chance
Q (Kevin Cassidy · Rosenblatt): Why are customers delaying purchases? Is it weaker end markets, AI benefit doubts, or price increases? Also, how do Europe opportunities compare to the U.S. and Southeast Asia—faster or just more chances?
A: Management said delays are tied to camera deployments in the field that then pull in boxes and Blaize software. They said the delays come from customers (data center and cloud providers) ramping their own services, not from lack of demand or pricing. Europe looks similar to the U.S. and Asia Pacific; they validated solutions over quarters and have a first purchase order that should scale.
"It has nothing to do with demand, pricing, or anything else." — Stephen Patak (CRO)
2027 revenue growth outlook
Q (Gil Luria · D.A. Davidson): Given Starshine and NeoTensr and the backlog, what might revenue and revenue growth look like for 2027?
A: They said the $50 million is a NeoTensr commitment and the $70 million is an amendment to that agreement. The $50 million is expected to go into 2027, and they expect 2027 to be about 2.5x to 3x where they are guiding this year to end at.
"I'm expecting 2027 to be probably 2.5x to 3x where we are guiding this year to end at." — Harminder Sehmi (CFO)
Q3/Q4 revenue split and longer-term timing
Q (Craig Ellis · B. Riley): How will revenues split from Q3 to Q4? Is most of second-half revenue from the new server program, and what other programs fill the rest? Also, are the large national hybrid-AI opportunities likely to contribute next year and when?
A: They expect Q3 to be similar to Q2 and Q4 to be a bit heavier, with part of the $70 million driving most of Q3 and Q4, and those are contracts in hand. They said they have very high confidence in the guidance with 90% of those orders in-house. The national-scale hybrid AI opportunities are not included in this year's guide but are moving through qualification and could look like Q1 of next year.
"Right now, I would peg at least -- let's call it, I don't want to ever call all 4 of those, but let's just say those subset of opportunities would look to be Q1 of next year." — Stephen Patak (CRO)
Pipeline status, memory costs, program size
Q (Richard Shannon · Craig-Hallum Capital Group): Are the opportunities delayed but still in the pipeline or are they lost? Do memory costs need to fall to re-accelerate deals? And how large could the 4 national programs be—thousands of servers or more?
A: They confirmed all opportunities are still in the pipeline and not lost, and the pipeline is still growing. To manage memory cost they are talking to suppliers about forward buying, have already invested probably $8 million and $9 million in forward buying components and chips, expect most of those to turn into revenue in the next 6 to 9 months, and may change pricing with customers as memory prices change to protect margin. On scale, they said the thousands-of-servers scope is reasonable and these are very large, multi-country opportunities in Southeast Asia supported by partner-led models like Nokia.
"All these opportunities are still in the pipeline and are not lost." — Stephen Patak (CRO)