What is BZAI's exchange offer (note 12)?

BZAI (BZAI) reported exchange offer (note 12) of $0 in Q1 2026.

How has BZAI's exchange offer (note 12) changed year-over-year?

BZAI's exchange offer (note 12) decreased by 100.0% year-over-year, from $75.06M to $0.

What does exchange offer (note 12) mean?

Quantifies the value of equity securities exchanged or converted as part of a formal exchange offer or restructuring process. This metric provides insight into changes in the capital structure and the conversion of various equity classes.

BZAI BZAI Exchange Offer (Note 12)

Exchange Offer (Note 12) at other companies

Applied DigitalAPLD

$191.92M+346%

Other financials

Income statement

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Revenue$2.7M+172%

Gross profit$1.6M+132%

Operating income-$23.4M+38.5%

Net income-$22.7M+84.7%

EPS (diluted)-$0.19+88.2%

Balance sheet

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Cash & equivalents$33.5M-26.0%

Total debt$1.2M-22.4%

Total equity$25.4M+52.3%

Total assets$70.8M-29.4%

Cash flow

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Operating cash flow-$12.6M+20.8%

CapEx$116.0K-82.5%

Free cash flow-$12.7M+23.2%

Valuation

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Market cap$196.37M-29.3%

Enterprise value$164.13M-34.5%

P/S4.9×-68.8×

Profitability

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Gross margin17.6%-52.6pp

Operating margin-221%-107pp

Net margin-202.7%-100pp

FCF margin-175.1%-85.1pp

Returns & leverage

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Return on equity-388.1%—

Debt / equity0×0.0×

Current ratio2.5×0.0×

Where this comes from

Reported directly by BZAI in its filing.

Tagged under the XBRL concept us-gaap:ConversionOfStockAmountConverted1.

The official record: BZAI’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is BZAI's exchange offer (note 12)?: BZAI (BZAI) reported exchange offer (note 12) of $0 in Q1 2026.
How has BZAI's exchange offer (note 12) changed year-over-year?: BZAI's exchange offer (note 12) decreased by 100.0% year-over-year, from $75.06M to $0.
What does exchange offer (note 12) mean?: Quantifies the value of equity securities exchanged or converted as part of a formal exchange offer or restructuring process. This metric provides insight into changes in the capital structure and the conversion of various equity classes.