Technology

Pixelworks Reports First Quarter 2025 Financial Results

Published

12 months ago

May 13, 2025

PORTLAND, Ore., May 13, 2025 /PRNewswire/ — Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced financial results for the first quarter ended March 31, 2025.

First Quarter and Recent Highlights

Total revenue of $7.1 million, with revenue from the mobile market increasing 140% sequentiallyAnnounced joint development with Tencent’s PerfDog and the introduction of new ‘Frame Generation’ benchmarking tool to evaluate and boost mobile gaming performanceFormalized new collaborative partnership with a market-leading post production company, expanding the ecosystem for Pixelworks’ TrueCut Motion platformPixelworks continued to advance discussions with key prospective third-parties related to potential strategic options following previous expressed interest in the Company’s Pixelworks Shanghai subsidiary

“First quarter results were consistent with our expectations, as revenue reflected anticipated first quarter seasonality in the home and enterprise market, partially offset by an initial recovery and sequential growth in mobile business,” commented Todd DeBonis, President and CEO of Pixelworks. “Notably, our reported results demonstrated significant realized benefits from our previous and ongoing actions to streamline our cost structure, with first quarter operating expenses down more than $2 million year-over-year.

“Driving renewed growth in mobile remains among our top priorities, and we continue to be encouraged by the depth of our current program engagements with mobile OEM customers, particularly those targeted at incorporating our new, low-cost mobile graphics accelerator solution in mid- and entry-level smartphones. In addition to our focused efforts in mobile, we are in active discussions with customers on adjacent revenue opportunities, including ASIC design services and IP licensing, which we expect to capitalize on over the coming quarters. Separately, during the quarter we formalized a strategic partnership for TrueCut Motion with a market-leading post production company, further expanding our TrueCut Motion ecosystem and facilitating broader industry adoption.

“Looking ahead, we are focused on executing our strategic and operational objectives in a dynamic global macroeconomic environment, while remaining committed to a streamlined cost structure and maintaining a path for our Pixelworks Shanghai subsidiary reaching profitability in the second half of 2025.”

First Quarter 2025 Financial Results
Revenue in the first quarter of 2025 was $7.1 million, compared to $9.1 million in the fourth quarter of 2024 and $16.1 million in the first quarter of 2024. The sequential decrease in first quarter revenue was driven by a combination of anticipated seasonality in the home and enterprise market as well as the prior quarter including higher sales of end-of-life products, partially offset by sequential revenue growth in the Company’s mobile business.

On a GAAP basis, gross profit margin in the first quarter of 2025 was 48.7%, compared to 54.6% in the fourth quarter of 2024 and 50.5% in the first quarter of 2024. First quarter 2025 GAAP operating expenses were $11.5 million, compared to $11.5 million in the fourth quarter of 2024 and $13.6 million in the year-ago quarter.

On a non-GAAP basis, first quarter 2025 gross profit margin was 49.9%, compared to 54.8% in the fourth quarter of 2024 and 50.7% in the year-ago quarter. First quarter 2025 non-GAAP operating expenses were $10.4 million, compared to $10.4 million in the fourth quarter of 2024 and $12.6 million in the year-ago quarter.

For the first quarter of 2025, the Company recorded a GAAP net loss of $7.8 million, or ($0.13) per share, compared to a GAAP net loss of $5.4 million, or ($0.09) per share, in the fourth quarter of 2024, and a GAAP net loss of $5.1 million, or ($0.09) per share, in the year-ago quarter. Note, the Company refers to “net loss attributable to Pixelworks, Inc.” as “net loss”.

For the first quarter of 2025, the Company recorded a non-GAAP net loss of $6.5 million, or ($0.11) per share, compared to a non-GAAP net loss of $4.3 million, or ($0.07) per share, in the fourth quarter of 2024, and a non-GAAP net loss of $4.0 million, or ($0.07) per share, in the first quarter of 2024.

Adjusted EBITDA in the first quarter of 2025 was a negative $5.8 million, compared to a negative $3.6 million in the fourth quarter of 2024 and a negative $3.2 million in the year-ago quarter.

Business Outlook
The Company’s current business outlook, including guidance for the second quarter of 2025, will be discussed as part of the scheduled conference call.

Conference Call Information
Pixelworks will host a conference call today, May 13, 2025, at 2:00 p.m. Pacific Time. Analysts and investors are invited to join the Company’s conference call using the following information:

First Quarter 2025 Conference Call
Date: Tuesday, May 13, 2025
Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)
Live Webcast Link: Click Here
Dial-in Participation Registration Link: Click Here

Advanced registration is required for dial-in participants. Please complete the linked registration form above to receive a dial-in number and dedicated PIN for accessing the conference call by phone. A live and archived audio webcast of the conference call will also be accessible via the investors section of Pixelworks’ website: www.pixelworks.com.

Pixelworks, Inc.
Pixelworks provides industry-leading content creation, video delivery and display processing solutions and technology that enable highly authentic viewing experiences with superior visual quality, across all screens – from cinema to smartphone and beyond. The Company has a 20-year history of delivering image processing innovation to leading providers of consumer electronics, professional displays, and video streaming services. For more information, please visit the company’s web site at www.pixelworks.com.

Note: Pixelworks, TrueCut Motion and the Pixelworks logo are trademarks of Pixelworks, Inc.

Non-GAAP Financial Measures
This earnings release makes reference to non-GAAP gross profit margins, non-GAAP operating expenses, non-GAAP net loss and non-GAAP net loss per share, which exclude stock-based compensation expense and restructuring expense which are both required under GAAP. The press release also makes reference to and reconciles GAAP net loss and adjusted EBITDA, which Pixelworks defines as GAAP net loss attributable to Pixelworks before interest income and other, net, income tax provision, depreciation and amortization, as well as the specific items listed above.

Pixelworks management uses these non-GAAP financial measures internally to understand, manage and evaluate the business and establish its operational goals, review its operations on a period-to-period basis, for compensation evaluations, to measure performance, and for budgeting and resource allocation. Pixelworks management believes it is useful for management and investors to review, as applicable, both GAAP information and non-GAAP financial measures to help assess the performance of Pixelworks’ continuing business and to evaluate Pixelworks’ future prospects. These non-GAAP measures, when reviewed together with the GAAP financial information, provide additional transparency and information for comparison and analysis of operating performance and trends. These non-GAAP measures exclude certain items to facilitate management’s review of the comparability of our core operating results on a period-to-period basis.

Because the Company’s non-GAAP financial measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures and should be read only in conjunction with the Company’s consolidated financial results as presented in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial measures is included in this earnings release which is available in the investor relations section of the Pixelworks website.

Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by use of terms such as “begin,” “continue,” “will,” “expect”, “believe,” “anticipate” and similar terms or the negative of such terms, and include, without limitation, statements about potential strategic options with respect to Pixelworks Shanghai, adjacent revenue opportunities, the adoption of our TrueCut Motion technology, and the potential for Pixelworks Shanghai reaching profitability in the second half of 2025. All statements other than statements of historical fact are forward-looking statements for purposes of this release, including any projections of revenue or other financial items or any statements regarding the plans and objectives of management for future operations. Such statements are based on management’s current expectations, estimates and projections about the Company’s business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions that are difficult to predict. Actual results could vary materially from those contained in forward looking statements due to many factors, including, without limitation: the actual adoption of TrueCut Motion platform; the actual performance of the smartphone market; our ability to execute on our strategy; competitive factors, such as rival chip architectures, introduction or traction by competing designs, or pricing pressures; the success of our products in new or expanding markets; current global economic challenges, including the trade dispute and negotiations between the United States and other nations, including China; changes in the digital display and projection markets; seasonality in the consumer electronics market; our efforts to achieve profitability from operations; our limited financial resources; and our ability to attract and retain key personnel. More information regarding potential factors that could affect the Company’s financial results and could cause actual results to differ materially from those discussed in the forward-looking statements is included from time to time in the Company’s Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the year ended December 31, 2024, as well as subsequent SEC filings.

The forward-looking statements contained in this release are as of the date of this release, and the Company does not undertake any obligation to update any such statements, whether as a result of new information, future events or otherwise.

[Financial Tables Follow]

PIXELWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

Three Months Ended

March 31,

December 31,

March 31,

2025

2024

Revenue, net

$ 7,094

$ 9,090

$ 16,054

Cost of revenue (1)

3,642

4,124

7,940

Gross profit

3,452

4,966

8,114

Operating expenses:

Research and development (2)

6,523

6,916

8,073

Selling, general and administrative (3)

4,632

4,425

5,534

Restructuring

393

115

—

Total operating expenses

11,548

11,456

13,607

Loss from operations

(8,096)

(6,490)

(5,493)

Interest income and other, net

141

434

Government subsidies received

1,100

—

Total other income, net

110

1,241

434

Loss before income taxes

(7,986)

(5,249)

(5,059)

Provision for income taxes

216

105

Net loss

(8,020)

(5,465)

(5,164)

Less: Net loss attributable to non-controlling interests and redeemable non-controlling interests

259

102

Net loss attributable to Pixelworks Inc.

$ (7,761)

$ (5,363)

$ (5,066)

Net loss attributable to Pixelworks Inc. per share – basic and diluted

$ (0.13)

$ (0.09)

Weighted average shares outstanding – basic and diluted

60,587

59,228

57,472

——————

(1) Includes:

Restructuring

—

Stock-based compensation

(2) Includes stock-based compensation

222

266

330

(3) Includes stock-based compensation

519

638

727

PIXELWORKS, INC.
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL INFORMATION *
(In thousands, except per share data)
(Unaudited)

Three Months Ended

March 31,

December 31,

March 31,

2025

2024

Reconciliation of GAAP and non-GAAP gross profit

GAAP gross profit

$ 3,452

$ 4,966

$ 8,114

Restructuring

—

Stock-based compensation

Total reconciling items included in gross profit

Non-GAAP gross profit

$ 3,537

$ 4,978

$ 8,132

Non-GAAP gross profit margin

49.9 %

54.8 %

50.7 %

Reconciliation of GAAP and non-GAAP operating expenses

GAAP operating expenses

$ 11,548

$ 11,456

$ 13,607

Reconciling item included in research and development:

Stock-based compensation

222

266

330

Reconciling items included in selling, general and administrative:

Stock-based compensation

519

638

727

Restructuring

393

115

—

Total reconciling items included in operating expenses

1,134

1,019

1,057

Non-GAAP operating expenses

$ 10,414

$ 10,437

$ 12,550

Reconciliation of GAAP and non-GAAP net loss attributable to Pixelworks, Inc.

GAAP net loss attributable to Pixelworks Inc.

$ (7,761)

$ (5,363)

$ (5,066)

Reconciling items included in gross profit

Reconciling items included in operating expenses

1,134

1,019

1,057

Non-GAAP net loss attributable to Pixelworks Inc.

$ (6,542)

$ (4,332)

$ (3,991)

Non-GAAP net loss attributable to Pixelworks Inc. per share – basic and diluted

$ (0.11)

$ (0.07)

Non-GAAP weighted average shares outstanding – basic and diluted

60,587

59,228

57,472

*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP

financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure

prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to “Non-

GAAP Financial Measures” in this document for an explanation of the adjustments made to the comparable GAAP measures, the ways management

uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.

PIXELWORKS, INC.
RECONCILIATION OF GAAP AND NON-GAAP NET LOSS PER SHARE *
(Figures may not sum due to rounding)
(Unaudited)

Three Months Ended

March 31,

December 31,

March 31,

2025

2024

Dollars per share

Basic

Diluted

Basic

Diluted

Basic

Diluted

Reconciliation of GAAP and non-GAAP net loss attributable to Pixelworks, Inc.

GAAP net loss attributable to Pixelworks Inc.

$ (0.13)

$ (0.09)

Reconciling items included in gross profit

0.00

Reconciling items included in operating expenses

0.02

Non-GAAP net loss attributable to Pixelworks Inc.

$ (0.11)

$ (0.07)

*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the

company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to

Non-GAAP actuals should be carefully evaluated. Please refer to “Non-GAAP Financial Measures” in this document for an explanation of the adjustments made to the comparable

GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.

PIXELWORKS, INC.
RECONCILIATION OF GAAP AND NON-GAAP GROSS PROFIT MARGIN *
(Figures may not sum due to rounding)
(Unaudited)

Three Months Ended

March 31,

December 31,

March 31,

2025

2024

Reconciliation of GAAP and non-GAAP gross profit margin

GAAP gross profit margin

48.7 %

54.6 %

50.5 %

Restructuring

1.1 %

— %

Stock-based compensation

0.1 %

Total reconciling items included in gross profit

1.2 %

0.1 %

Non-GAAP gross profit margin

49.9 %

54.8 %

50.7 %

*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure

disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and

the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to “Non-GAAP Financial Measures” in this document for an explanation

of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the

non-GAAP measures provide useful information for investors.

PIXELWORKS, INC.
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL INFORMATION *
(In thousands)
(Unaudited)

Three Months Ended

March 31,

December 31,

March 31,

2025

2024

Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA

GAAP net loss attributable to Pixelworks Inc.

$ (7,761)

$ (5,363)

$ (5,066)

Stock-based compensation

751

916

1,075

Restructuring

468

115

—

Non-GAAP net loss attributable to Pixelworks Inc.

$ (6,542)

$ (4,332)

$ (3,991)

EBITDA adjustments:

Depreciation and amortization

$ 828

$ 691

$ 1,109

Interest income and other, net

(97)

(141)

(434)

Non-GAAP provision for income taxes

216

105

Adjusted EBITDA

$ (5,777)

$ (3,566)

$ (3,211)

*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure

disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and

the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to “Non-GAAP Financial Measures” in this document for an explanation

of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the

non-GAAP measures provide useful information for investors.

PIXELWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

March 31,
2025

December 31,
2024

ASSETS

Current assets:

Cash and cash equivalents

$ 18,504

$ 23,647

Accounts receivable, net

5,371

5,804

Inventories

5,004

4,210

Prepaid expenses and other current assets

1,714

1,191

Total current assets

30,593

34,852

Property and equipment, net

5,860

6,500

Operating lease right of use assets

2,907

3,368

Other assets, net

693

945

Goodwill

18,407

Total assets

$ 58,460

$ 64,072

LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND SHAREHOLDERS’

EQUITY

Current liabilities:

Accounts payable

$ 1,655

$ 1,400

Accrued liabilities and current portion of long-term liabilities

7,043

6,581

Current portion of income taxes payable

136

365

Total current liabilities

8,834

8,346

Long-term liabilities, net of current portion

217

375

Deposit liability

12,998

13,109

Operating lease liabilities, net of current portion

1,123

1,450

Income taxes payable, net of current portion

824

914

Total liabilities

23,996

24,194

Redeemable non-controlling interest

27,533

27,396

Total Pixelworks, Inc. shareholders’ equity

(15,975)

(10,568)

Non-controlling interest

22,906

23,050

Total shareholders’ equity

6,931

12,482

Total liabilities, redeemable non-controlling interest and shareholders’ equity

$ 58,460

$ 64,072

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SOURCE Pixelworks, Inc.

Technology

DCCM Acquires Dynamic Solutions, LLC Expanding Water Resources Expertise

Published

2 hours ago

May 4, 2026

DCCM has acquired Dynamic Solutions, LLC, a consulting firm recognized for advanced water resources, hydraulic, and hydrodynamic modeling. Dynamic Solutions expands DCCM’s technical capabilities in water and environmental modeling to better serve complex infrastructure and water-related client needs. Dynamic Solutions, founded in 1996 and offering services including watershed/hydrology studies, sediment transport, water quality, and ecological modeling, will continue operating with its existing leadership and team.

HOUSTON, May 4, 2026 /PRNewswire-PRWeb/ — DCCM, a national provider of design, consulting, and program and construction management professional services, is pleased to announce the acquisition of Dynamic Solutions, LLC, a specialized consulting firm known for advanced water resources, hydraulic, and hydrodynamic modeling.

Founded in 1996, Dynamic Solutions is nationally recognized for its expertise in hydraulic and hydrodynamic modeling, watershed and hydrology studies, sediment transport, water quality, and ecological modeling. The firm supports clients across federal, state, and local markets, as well as select technical advisory engagements, delivering analytical solutions for complex water and environmental challenges.

Dynamic Solutions operates from offices in Knoxville, Tennessee; Baton Rouge, Louisiana; Columbus, Mississippi; and Hamilton, Ohio, supporting projects nationwide.

“This acquisition expands DCCM’s technical capabilities in advanced water and environmental modeling while strengthening our ability to serve clients facing complex infrastructure and water-related challenges,” said James F. (Jim) Thompson, PE, Chairman and CEO of DCCM. “Dynamic Solutions brings a depth of expertise and a reputation for technical excellence that aligns well with our long-term growth strategy.”

Dynamic Solutions will continue to operate with its existing leadership and team, maintaining its specialized service offerings and longstanding client relationships.

“Joining DCCM allows us to build on the outstanding work our team is known for while gaining access to broader resources and a national platform,” said Julie Wallen of Dynamic Solutions. “We look forward to continuing to deliver the same high level of service to our clients as part of the DCCM organization.”

About Dynamic Solutions, LLC

Dynamic Solutions, LLC is a consulting firm specializing in hydraulic and hydrodynamic modeling, watershed and hydrology studies, sediment transport, water quality, and ecological modeling. Founded in 1996, the firm serves public sector and institutional clients across the United States.

About DCCM

DCCM is a provider of design, consulting, and program and construction management professional services focused on infrastructure across the public and private sectors. Through a national platform, DCCM serves a diverse range of end markets.

DCCM is a portfolio company of Court Square Capital Partners.

For more information, please visit www.dccm.com.

Media Contact

Jessica Steglich, DCCM, 1 7138749162, marketing@dccm.com, dccm.com

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SOURCE DCCM

Technology

Modine to Participate in Upcoming Oppenheimer Virtual Conference on May 5, 2026

Published

2 hours ago

May 4, 2026

RACINE, Wis., May 4, 2026 /PRNewswire/ — Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, announced today that it will participate in the Oppenheimer 21st Annual Industrial Growth Conference on Tuesday, May 5, 2026.

Neil D. Brinker, Modine President and Chief Executive Officer, and Michael B. (Mick) Lucareli, Executive Vice President and Chief Financial Officer, will participate in a virtual fireside chat during the conference on Tuesday, May 5, 2026, at 1:30 p.m. Eastern time (12:30 p.m. Central Time).

Live webcasts of the event will be available in the Investor Relations section of Modine’s website www.modine.com. Recordings of the events will be available for 365 days following the webcast.

About Modine
For more than 100 years, Modine has solved the toughest thermal management challenges for mission-critical applications. Our purpose of Engineering a Cleaner, Healthier World™ means we are always evolving our portfolio of technologies to provide the latest heating, cooling, and ventilation solutions. Through the hard work of more than 11,000 employees worldwide, our Climate Solutions, Data Centers, and Performance Technologies segments advance our purpose with systems that improve air quality, reduce energy and water consumption, lower harmful emissions, and enable the transition to a more sustainable future. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe, and Asia. For more information about Modine, visit modine.com.

Investor Contact
Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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SOURCE Modine

Technology

Blaize and Winmate Sign Strategic Partnership Agreement to Bring AI to Rugged Systems for Defense and Critical Infrastructure

Published

2 hours ago

May 4, 2026

Joint solutions combine Blaize’s energy-efficient and industrial-grade AI chips with Winmate’s rugged platforms – including drones, handhelds, vehicle-mounted units, and embedded edge devices used by defense, border security, maritime, and healthcare operators.

TAIPEI and EL DORADO HILLS, Calif., May 4, 2026 /PRNewswire/ — Blaize Holdings, Inc. (Nasdaq: BZAI, Nasdaq: BZAIW) (“Blaize,” the “Company,” “we,” “our,” or “us”), and Winmate Inc., a publicly traded company in Taiwan, today announced they have signed a Strategic Partnership Agreement (“Agreement”) with an intent to close approximately $15 million in business during the first year. The two companies will integrate Blaize’s AI chips into Winmate’s rugged systems, including drones, handhelds, vehicle-mounted units, and embedded devices that have to keep working in the field, often in places where regular hardware can’t survive.

The companies expect the Agreement to be the start of a much larger, multi-year relationship.

Why this partnership matters

Most AI today runs in large data centers rather than at the edge, where decisions must be made in real time. This model is often impractical for soldiers at remote posts, Coast Guard crew at sea, or medics in field clinics. They often don’t have a reliable network connection, and even when they do, they can’t afford to wait for an application to respond from halfway across the globe.

That’s the gap Blaize and Winmate intend to address through this partnership. Blaize’s chips were designed to industrial grade specifications and run AI directly on the device, with no cloud dependency. Winmate’s systems are purpose-built to perform in extreme environments, including heat, cold, dust, vibration, and rough handling. Together, they deliver real-time AI capabilities exactly where it’s needed, whether in drones, field units, the patrol vehicles, or diagnostic devices.

A fast-growing market

Demand for on-device AI is accelerating. According to BCC Research[1], the global edge AI market is projected to grow from $11.8 billion in 2025 to $56.8 billion by 2030, a 36.9% compound annual growth rate. Defense agencies, governments, hospitals, ports, and critical infrastructure operators all demand AI that can run securely on their equipment, without sending sensitive data over public networks.

From the leaders

“Our customers can’t wait, and they often can’t rely on the cloud. They need AI that runs where the work happens. Winmate makes some of the most capable rugged systems in the industry, and our chips are designed to run AI inside exactly those kinds of devices. This partnership turns a years-long vision into a practical, deployable answer for defense and critical infrastructure operators,” said Dinakar Munagala, CEO of Blaize, Inc.

“Our platforms are deployed on naval vessels, in border outposts, on industrial sites, and in disaster zones – environments where most hardware fails. With Blaize, we can now deliver those same systems with on-device AI built in, giving customers real-time intelligence wherever they operate,” said Ken Lu, Chairman and CEO of Winmate Inc.

Target applications

Border security and surveillance: Real-time threat detection and perimeter monitoringMobile command and control: On-site intelligence and situational awareness for field teamsDrones and unmanned systems: Autonomous navigation and mission execution for UAVs and ground vehiclesCritical infrastructure: Continuous monitoring and predictive analytics for power, ports, and transportationMaritime domain awareness: Vessel tracking and anomaly detection at seaField healthcare: Portable diagnostics and decision support in remote and disaster environments

Deal at a glance

First-year revenue: the parties intend to work in good faith to close approximately $15 million in business, expected to scale meaningfully in subsequent yearsTerm: Three-year initial term, with automatic renewalNext steps: Joint engineering, sales, and marketing execution to bring integrated systems to market, with additional opportunities to be added through follow-on programs

[1] BCC Research, “Global Edge AI Market,” October 2025

About Blaize, Inc.

Blaize delivers a programmable AI platform, purpose-built for AI inference workloads in real-world environments. Its Hybrid AI architecture combines the Blaize GSP (Graph Streaming Processor) with GPU-based infrastructure, enabling AI inference workloads to run across edge, cloud, and data center. Blaize solutions support computer vision, multimodal AI, and sensor-driven applications across smart cities, industrial automation, telecommunications, retail, logistics, and defense. Blaize is headquartered in El Dorado Hills, California, with a global presence across North America, Europe, the Middle East, and Asia. Visit www.blaize.com or follow us on LinkedIn @blaizeinc.

About Winmate Inc.

Winmate Inc. is a publicly traded global leader in rugged computing systems, delivering industrial-grade platforms – including handhelds, tablets, vehicle-mounted units, panel PCs, and embedded modules – for demanding environments across defense, transportation, energy, healthcare, and industrial markets.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are based on beliefs and assumptions and on information currently available to Blaize, including expectations and scope of customer contracts, including the Strategic Partnership Agreement with Winmate, the potential value and the timing of revenue pursuant to such contracts, preliminary estimates of results of operations and guidance on results for future periods, the industry in which Blaize operates, market opportunities, and product offerings. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to those factors discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 24, 2026, and other documents filed by Blaize from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Blaize assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Blaize does not give any assurance that it will achieve its expectations.

Blaize Contact

press@blaize.com
www.blaize.com

Investors

ir@blaize.com
www.blaize.com

Winmate Inc.

Liu, Chih-Yuan
Tel: +886-2-8511-0288
Email: spokesman1@winmate.com.tw
https://www.winmate.com/

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SOURCE Blaize Inc.