XML 53 R43.htm IDEA: XBRL DOCUMENT
v3.25.3

Common stock and Stock-Based Compensation (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2025 | Dec. 31, 2024
Common stock and Stock-Based Compensation [Abstract] |  |
Summary Of Common Stock Reserved For Issuance |  | Common stock reserved for issuance as of December 31, 2024 and 2023, is as follows:
|  | 2024 |  |  | 2023 |
Series Seed Shadow Preferred |  |  | 2,020,309 |  |  |  | 2,020,309 |
Series A Shadow Preferred |  |  | 4,573,935 |  |  |  | 4,573,935 |
Series B Shadow Preferred |  |  | 12,234,661 |  |  |  | 12,234,661 |
Series C Shadow Preferred |  |  | 10,211,548 |  |  |  | 10,211,548 |
Series D Shadow Preferred |  |  | 3,990,707 |  |  |  | 3,990,707 |
Series D Exchange Shadow Preferred |  |  | 239,405 |  |  |  | 239,405 |
Series D-1 Shadow Preferred |  |  | 3,662,318 |  |  |  | 3,662,318 |
Series D-2 Shadow Preferred |  |  | 7,561,820 |  |  |  | 7,561,820 |
Warrants outstanding for future issuance of Series D Shadow and |  |  | 756,172 |  |  |  | 1,094,667 |
Series D-2 Shadow preferred stock |  |  |  |  |  |  |  |
Warrants outstanding for future issuance of common stock |  |  | — |  |  |  | 2,063 |
Pay-to-Play warrants (estimated see Note 8) |  |  | 1,127,088 |  |  |  | 721,086 |
Convertible Notes warrants - 2023 |  |  |  | (a) |  |  |  | (a)
Pre-funded warrant (estimated see Note 8) |  |  | 2,000,000 |  |  |  | 7,007,582 |
Pre-funded warrant April 2024 (estimated see Note 8) |  |  | 4,500,000 |  |  |  | — |
Stock options and restricted stock units |  |  | 41,018,458 |  |  |  | 21,354,809 |
Stock options available for future issuance |  |  | 2,226,705 |  |  |  | 839,706 |
Total shares of common stock reserved |  |  | 96,123,126 |  |  |  | 75,514,616 |
(a) | The number of warrants shares to be issued upon exercise of the 2023 Convertible Note Warrants is not determinable as of December 31, 2023 due to the variable settlement terms (see Note 8).
Summary Of Option Activity | A summary of stock option activity is as follows:
(Value in thousands, life in years) |  | Number of options |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual life |  |  | Aggregate intrinsic value |
Outstanding as of December 31, 2024 |  |  | 28,360,635 |  |  | $ | 1.27 |  |  |  | 9.2 |  |  | $ | 22,741 |
Granted |  |  | 1,347,536 |  |  |  | 3.57 |  |  |  |  |  |  |  |  |
Exercised |  |  | (15,080 | ) |  |  | 1.18 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (374,308 | ) |  |  | 1.31 |  |  |  |  |  |  |  |  |
Outstanding as of September 30, 2025 |  |  | 29,318,783 |  |  | $ | 1.37 |  |  |  | 8.5 |  |  |  | 68,324 |
Vested and expected to vest as of September 30, 2025 |  |  | 29,318,783 |  |  | $ | 1.37 |  |  |  | 8.5 |  |  |  | 68,324 |
Exercisable as of September 30, 2025 |  |  | 15,847,903 |  |  | $ | 1.48 |  |  |  | 8.1 |  |  |  | 38,507 |
| A summary of stock option activity as of December 31, 2024 is as follows:
|  | Number of options outstanding |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual life |  |  | Aggregate intrinsic value (in thousands) |
Outstanding options at December 31, 2022 |  |  | 1,325,844 |  |  | $ | 9.10 |  |  |  | 5.6 |  |  | $ | 925 |
Granted |  |  | 15,141,280 |  |  |  | 0.44 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,000 | ) |  |  | 0.80 |  |  |  |  |  |  |  |  |
Expired |  |  | (8,601 | ) |  |  | 0.80 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (19,543 | ) |  |  | 15.53 |  |  |  |  |  |  |  |  |
Outstanding options at December 31, 2023 |  |  | 16,437,980 |  |  | $ | 1.12 |  |  |  | 9.3 |  |  | $ | 13,907 |
Granted |  |  | 21,329,457 |  |  |  | 0.92 |  |  |  |  |  |  |  |  |
Exercised |  |  | (65,646 | ) |  |  | 1.49 |  |  |  |  |  |  |  |  |
Expired |  |  | (5,500 | ) |  |  | 0.74 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (1,333,107 | ) |  |  | 1.54 |  |  |  |  |  |  |  |  |
Outstanding options at December 31, 2024 |  |  | 36,363,184 |  |  | $ | 0.99 |  |  |  | 9.2 |  |  | $ | 22,845 |
Vested/expected to vest at December 31, 2024 |  |  | 35,560,434 |  |  | $ | 0.99 |  |  |  | 9.1 |  |  | $ | 22,492 |
Exercisable options at December 31, 2024 |  |  | 9,614,865 |  |  | $ | 1.58 |  |  |  | 8.3 |  |  | $ | 7,066 |
Summary of Stock-based Compensation Expense | The Company recorded stock-based compensation expense for stock options and RSUs as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(Amounts in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Research and development |  | $ | 3,700 |  |  | $ | 189 |  |  | $ | 12,871 |  |  | $ | 539 |
Selling, general and administrative |  |  | 5,786 |  |  |  | 170 |  |  |  | 15,221 |  |  |  | 503 |
Total |  | $ | 9,486 |  |  | $ | 359 |  |  | $ | 28,092 |  |  | $ | 1,042 |
| The Company recorded stock-based compensation expense for stock options and the 2024 cancellation of 135,400 RSUs during the years ended December 31 , 2024 and 2023 , as follows (in thousands):
|  | 2024 |  |  | 2023 |
Research and development |  | $ | 1,106 |  |  | $ | 372 |
Selling, general and administrative |  |  | 2,741 |  |  |  | 2,111 |
Total |  | $ | 3,847 |  |  | $ | 2,483 |
Summary Of The Grant Date Fair Value Of The Company's Stock Options |  |
|  | 2024 |  |  | 2023 |
Risk-free interest rate |  |  | 3.99% - 4.43% |  |  |  | 4.44% - 4.46% |
Expected life, in years |  |  | 5.00 - 6.22 |  |  |  | 5.00 - 6.01 |
Expected volatility |  |  | 56.92% - 57.51% |  |  |  | 56.74% - 57.56% |
Dividend yield |  |  | — % |  |  |  | — % |
Weighted average fair value of common stock |  | $ | 0.88 |  |  | $ | 0.25 |
Summary Of Company's RSU Activity Issued | A summary of the Company’s RSU activity is as follows:
|  | Number of RSUs (1) |  |  | Weighted average grant date fair value |
Balance as of December 31, 2024 |  |  | 3,630,447 |  |  | $ | 1.53 |
Granted |  |  | 8,872,307 |  |  |  | 2.67 |
Issued |  |  | (1,331,257 | ) |  |  | 2.64 |
Forfeited |  |  | (406,649 | ) |  |  | 2.29 |
Balance as of September 30, 2025 |  |  | 10,764,848 |  |  | $ | 2.30 |
(1) | As of September 30, 2025, 1,973,365 of the RSUs have vested but have not yet been issued to the award holders. As no conditions remain in order for these shares of common stock to be issuable, these awards have been included in the weighted average shares outstanding calculation for purposes of earnings per share (see Note 18).
| A summary of the Company’s RSU activity issued under the 2011 Amended Plan, inclusive of the 6,000,000 RSUs issued to an investor (see Notes 7 and 13), for the years ended December 31, 2024 and 2023 is as follows:
|  | Awards |  |  | Weighted- average grant date fair value (per share) |
Nonvested as of January 1, 2023 |  |  | 137,909 |  |  | $ | 15.28 |
Issued |  |  | 10,929,820 |  |  | $ | 0.60 |
Exercised |  |  | (6,000,000 | ) |  | $ | 0.44 |
Forfeited |  |  | (150,900 | ) |  | $ | 1.98 |
Nonvested as of December 31, 2023 |  |  | 4,916,829 |  |  | $ | 1.18 |
Forfeited |  |  | (254,555 | ) |  | $ | 0.88 |
Expired |  |  | (7,000 | ) |  | $ | 0.82 |
Nonvested as of December 31, 2024 |  |  | 4,655,274 |  |  | $ | 1.19 |

X
- References No definition available. + Details
Name: | bzai_CommonStockAndStockbasedCompensationAbstract
Namespace Prefix: | bzai_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-4 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-5 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481142/505-10-45-2 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-10 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration