Financial Performance - Total revenues for Q1 2025 were $22.4 million, a decrease of 39.5% compared to $37.1 million in Q1 2024[5] - Gross profit for Q1 2025 was $8.0 million, down 37.2% from $12.8 million in Q1 2024, with a gross profit margin of 35.9%[7] - Net loss for Q1 2025 was $3.2 million, an improvement from a net loss of $7.1 million in Q1 2024, resulting in a net loss per share of $1.41 compared to $3.81[10] - Adjusted EBITDA for Q1 2025 was a loss of $25 thousand, compared to a gain of $0.2 million in Q1 2024[13] - Revenues for Q1 2025 were $22.423 million, a decrease of 39.5% compared to $37.093 million in Q1 2024[25] - Gross profit for Q1 2025 was $8.043 million, down 37.1% from $12.815 million in Q1 2024[25] - Net loss for Q1 2025 was $3.243 million, an improvement from a net loss of $7.089 million in Q1 2024[25] - Adjusted EBITDA for Q1 2025 was $(25) thousand, compared to $179 thousand in Q1 2024[26] - Operating expenses for Q1 2025 were $10.951 million, down 33.1% from $16.420 million in Q1 2024[25] Cash and Assets - The company ended Q1 2025 with $8.1 million in cash and $1.6 million in working capital, alongside a stockholders' deficit of $15.8 million[7] - Total current assets decreased to $73.953 million in Q1 2025 from $78.382 million in Q4 2024, a decline of 5.4%[24] - Cash and cash equivalents increased slightly to $8.077 million in Q1 2025 from $8.007 million in Q4 2024[24] - Total stockholders' deficit increased to $(15.815) million in Q1 2025 from $(12.896) million in Q4 2024[24] - Total liabilities decreased to $96.002 million in Q1 2025 from $99.692 million in Q4 2024, a reduction of 1.7%[24] Strategic Initiatives - Boxlight launched the Clevertouch Max 2 in the U.S. market, moving towards a unified flat panel brand globally[7] - The company formalized partnerships with five major third-party emergency management platforms for integrated School Safety Solutions[7] - Boxlight received ISO 27001 accreditation for information security management for Clevertouch[7] - The company is strategically focusing on operational efficiency and expanding its commercial ecosystem in anticipation of renewed spending in the education sector[4] Foreign Currency Impact - The company reported a foreign currency translation adjustment of $570 thousand in Q1 2025, compared to a loss of $811 thousand in Q1 2024[25]

Revenue and Sales Performance - Total revenue increased by 83% to $1.0 million for the three months ended March 31, 2025, compared to approximately $0.5 million for the same period in 2024[220]. - Hardware product sales accounted for the entire revenue of $1.0 million, offset by a $0.5 million decrease due to the end of a multi-year license and development contract[220]. - Revenue from the Asia Pacific region was $960,000, representing 95% of total revenue for Q1 2025, compared to $333,000 or 61% in Q1 2024[221]. - For the three months ended March 31, 2025, 100% of the revenue was derived from international operations, compared to 61% for the same period in 2024[252]. - For the three months ended March 31, 2025, one customer accounted for approximately 95% of total revenue, while two customers accounted for 100% of revenue in the same period in 2024[258]. Business Opportunities and Partnerships - The company has identified a potential $458 million in future business opportunities through near-term customer implementations[209]. - As of March 31, 2025, the company has initiated or is in progress with 40 proof-of-concept projects with potential customers[211]. - The company has established 34 partnerships with independent software and hardware vendors as of March 31, 2025[212]. - A total of 21 design wins have been confirmed with partners or customers as of March 31, 2025[213]. Mergers and Shareholder Information - The merger with BurTech Acquisition Corp was completed on January 13, 2025, with Legacy Blaize becoming a wholly owned subsidiary[198]. - Legacy Blaize shareholders were issued 87,314,968 shares of common stock upon the merger[199]. - The company has an earnout arrangement that includes up to 3,750,000 shares to be issued based on stock price thresholds ranging from $12.50 to $20.00 per share[210]. Expenses and Financial Performance - Cost of revenue for the three months ended March 31, 2025 increased by $21,000, or 7%, compared to the same period in 2024, primarily due to hardware sales[223]. - Research and development expenses rose by $9.0 million, or 220%, for the three months ended March 31, 2025, driven by personnel costs and new chip development[224]. - Selling, general and administrative expenses increased by $9.4 million, or 235%, for the three months ended March 31, 2025, mainly due to employee-related costs and professional services[225]. - Total operating expenses for the three months ended March 31, 2025 were $39.0 million, a significant increase of 349% compared to $8.7 million in 2024[222]. - Total other expense, net for the three months ended March 31, 2025 was $109.6 million, reflecting an increase of $101.1 million, or 1,198%, compared to the same period in 2024[230]. - Net loss for the three months ended March 31, 2025 was approximately $147.8 million, compared to a net loss of $16.7 million for the same period in 2024[233]. Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2025 were approximately $45.0 million, with an accumulated deficit of $577.0 million[235]. - Net cash used in operating activities was $15.9 million for the three months ended March 31, 2025, compared to $7.4 million in 2024[239]. - The company expects to raise additional financing to support revenue growth and operational needs, indicating potential future capital raises[236]. - The company has determined that its liquidity condition raises substantial doubt about its ability to continue as a going concern[237]. Credit and Currency Risk - As of March 31, 2025, one customer accounted for approximately 95% of total accounts receivable, down from 98% as of December 31, 2024[257]. - The allowance for credit losses was $0.4 million as of March 31, 2025, and December 31, 2024[256]. - The company is primarily exposed to foreign currency exchange rate risk, particularly in the Indian rupee, British pound, and Philippine peso[253]. - The gain on foreign exchange transactions was not material for the three months ended March 31, 2025, and 2024[254]. - The company manages credit risk through ongoing evaluations of customers' financial conditions and establishes an allowance for credit losses based on various factors[256]. - The company’s reporting and functional currency is the U.S. dollar, which is affected by movements in foreign currencies[253]. - The company has a strategy to manage foreign currency risk by negotiating contracts to receive payments in the same currency used for expenses[252]. - The cash accounts in financial institutions may exceed the Federal Depository Insurance coverage of $250,000, exposing the company to credit risk[255].

Financial Performance - The company reported a net loss of $2.3 million for the three months ended March 31, 2025, compared to a net loss of $10.7 million for the same period in 2024, representing a 78% improvement [78]. - The company incurred a net cash outflow of $5.1 million from operating activities for the three months ended March 31, 2025, compared to $10.5 million for the same period in 2024, indicating a decrease in cash burn [89]. - Interest income for Q1 2025 was $55,000, down from $378,000 in Q1 2024, a decrease of 85% due to lower cash balances [80]. Expenses - Research and development expenses decreased by $6.0 million to $15,000 in Q1 2025, down from $6.0 million in Q1 2024, a reduction of 100% due to winding down operations [78]. - General and administrative expenses decreased by $2.7 million to $2.4 million in Q1 2025, down from $5.1 million in Q1 2024, a decrease of 53% [79]. Cash Position - The company had $5.6 million in cash and cash equivalents as of March 31, 2025, which is expected to fund operations until the closing of the contemplated Merger [81]. - The company has no current plans to sell additional shares under its Sales Agreement prior to the closing of the Merger, with $66.0 million remaining available [83]. Strategic Actions - Following a strategic review, the company announced a Merger Agreement with Crescent, expected to close in late Q2 2025, which will result in Crescent becoming a wholly owned subsidiary [68]. - The company does not currently intend to continue development of uproleselan or any other drug candidates, as there are no ongoing clinical trials [67]. - If the Merger and Private Placement do not close by Q3 2025, the company may seek other strategic alternatives or liquidate [87].

Revenue and Sales Performance - Total revenue increased by 83% to $1.0 million for the three months ended March 31, 2025, compared to approximately $0.5 million for the same period in 2024[220]. - Hardware product sales accounted for the entire revenue of $1.0 million, offset by a $0.5 million decrease due to the end of a multi-year license and development contract[220]. - Revenue from the Asia Pacific region was $960,000, representing 95% of total revenue for Q1 2025, compared to $333,000 or 61% in Q1 2024[221]. - For the three months ended March 31, 2025, 100% of revenue was derived from international operations, compared to 61% for the same period in 2024[252]. - For the three months ended March 31, 2025, one customer accounted for approximately 95% of total revenue, while two related party customers accounted for 100% of revenue in the same period of 2024[258]. Business Opportunities and Partnerships - The company has identified a potential $458 million in future business opportunities through near-term customer implementations[209]. - As of March 31, 2025, the company has initiated or is in progress with 40 proof-of-concept projects with potential customers[211]. - The company has established 34 partnerships with independent software and hardware vendors as of March 31, 2025[212]. - A total of 21 design wins have been confirmed with partners or customers as of March 31, 2025[213]. Merger and Shareholder Information - The merger with BurTech Acquisition Corp was completed on January 13, 2025, with Legacy Blaize becoming a wholly owned subsidiary[198]. - Upon the merger, Legacy Blaize shareholders were issued 87,314,968 shares of common stock[199]. - The company has an earnout arrangement that allows for the issuance of up to 15 million shares based on stock price performance over the next five years[210]. Expenses and Financial Performance - Cost of revenue for the three months ended March 31, 2025 increased by $21,000, or 7%, compared to the same period in 2024, primarily due to hardware sales[223]. - Research and development expenses rose by $9.0 million, or 220%, for the three months ended March 31, 2025, driven by personnel costs and new chip development[224]. - Selling, general and administrative expenses increased by $9.4 million, or 235%, for the three months ended March 31, 2025, mainly due to employee-related costs and professional services[225]. - Total operating expenses for the three months ended March 31, 2025 were $39.0 million, a significant increase of 349% compared to $8.7 million in 2024[222]. - Total other expense, net for the three months ended March 31, 2025 was $109.6 million, reflecting an increase of $101.1 million, or 1,198%, compared to the same period in 2024[230]. - Net loss for the three months ended March 31, 2025 was approximately $147.8 million, compared to a net loss of $16.7 million for the same period in 2024[233]. Cash and Financing - Cash and cash equivalents as of March 31, 2025 were approximately $45.0 million, with an accumulated deficit of $577.0 million[235]. - Net cash used in operating activities was $15.9 million for the three months ended March 31, 2025, compared to $7.4 million in 2024[239]. - The company intends to raise additional financing through debt and equity offerings to support its operations and growth initiatives[236]. - The company has outstanding purchase orders and contractual obligations totaling $0.3 million as of March 31, 2025, primarily for inventory procurement[242]. Credit and Currency Risk - As of March 31, 2025, one customer accounted for approximately 95% of total accounts receivable, down from 98% as of December 31, 2024[257]. - The allowance for credit losses was $0.4 million as of March 31, 2025, and December 31, 2024[256]. - The company is primarily exposed to foreign currency exchange rate risk, particularly in the Indian rupee, British pound, and Philippine peso[253]. - The gain on foreign exchange transactions was not material for the three months ended March 31, 2025, and 2024[254]. - The company manages credit risk through ongoing evaluations of customers' financial conditions and establishes an allowance for credit losses based on various factors[256]. - The company's reporting and functional currency is the U.S. dollar, which affects the remeasurement of foreign subsidiaries' financial results[253]. - The company has a strategy to manage foreign currency risk by negotiating contracts to receive payments in the same currency used for expenses[252]. - Cash accounts may exceed the Federal Depository Insurance coverage of $250,000, exposing the company to credit risk[255].

Exhibit 99.1 Inhibikase Therapeutics Announces First Quarter 2025 Financial Results and Highlights Recent Activity —Advancing IKT-001 into a Late-Stage Clinical Trial Program in Pulmonary Arterial Hypertension — May 14, 2025 — Inhibikase Therapeutics, Inc. (Nasdaq: IKT) ("Inhibikase" or "Company"), a clinical-stage pharmaceutical company innovating small molecule kinase inhibitor therapeutics to treat pulmonary arterial hypertension ("PAH"), today reported financial results for the quarter ended March 31, 2 ...

Financial Performance - Revenue for the three months ended March 31, 2025, was $129,000, a decrease of $17,000 (approximately 11.6%) compared to $146,000 for the same period in 2024[102]. - General and administrative expenses decreased by $57,000 (approximately 10.9%) to $464,000 in Q1 2025 from $521,000 in Q1 2024[102]. - Total operating expenses for Q1 2025 were $1,457,000, an increase of $93,000 (approximately 6.8%) compared to $1,364,000 in Q1 2024[102]. - The net loss for the three months ended March 31, 2025, was $1,307,000, an increase of $115,000 (approximately 9.6%) from a net loss of $1,192,000 in Q1 2024[102]. - Revenue from the 2022 NIH Grant recognized for Q1 2025 was $129,390, a decrease of approximately 11% from $145,880 in Q1 2024[104]. - Net loss for Q1 2025 was $1,306,523, compared to a net loss of $1,191,809 for Q1 2024, indicating an increase in losses year-over-year[115]. Research and Development (R&D) - Research and Development (R&D) expenses increased by $150,000 (approximately 17.8%) to $993,000 in Q1 2025 from $843,000 in Q1 2024[102]. - R&D expenses increased by approximately $150,000 to $993,475 for Q1 2025, compared to $842,600 in Q1 2024, primarily due to increased outside services for the LP-310 clinical trial[110]. - The company expects substantial increases in R&D expenses as it advances clinical trials for LP-10 and LP-310[121]. - The company anticipates continued operating losses and negative cash flows for the foreseeable future due to ongoing R&D activities[116]. - The company bases R&D expenses on estimates from contracts with vendors, which may lead to uneven payment flows[134]. - There have been no material differences between the company's estimates of R&D expenses and the actual amounts incurred to date[135]. Clinical Trials and Drug Development - The company is developing LP-10 and LP-310 for hemorrhagic cystitis and oral lichen planus, respectively, with no FDA-approved therapies currently available for these conditions[87][88]. - LP-310's Phase 2a clinical trial dosing was completed in Q4 2024, with no serious adverse events reported, and results are expected to be presented at a conference in May 2025[90]. - The company received "orphan drug" designation from the FDA for LP-410 for oral graft-versus-host disease on November 11, 2023[91]. Cash Flow and Financing - Cash and cash equivalents totaled $4,225,012 as of March 31, 2025, providing liquidity for ongoing operations[114]. - Net cash used in operating activities for Q1 2025 was approximately $1,426,000, slightly higher than $1,388,000 in Q1 2024[118]. - Net cash provided by financing activities for Q1 2025 was approximately $3,466,000, a significant increase from $200,000 in Q1 2024[120]. - The company entered into an At The Market Offering Agreement to sell shares with an aggregate sales price of up to $2,641,881[96]. Stock-Based Compensation and Accounting - Stock-based compensation expense is expected to increase due to unrecognized expenses and additional stock awards to attract and retain employees[137]. - The fair value of stock options is estimated using the Black-Scholes model, with inputs based on subjective assumptions such as expected volatility and risk-free interest rates[139]. - The company adopted ASU 2018-07 for non-employee stock awards, which did not materially affect financial statements[136]. - The estimated fair value of Common Stock prior to the IPO was determined using independent valuations and various methodologies, including the back-solve method[140]. - The company has elected to take advantage of the extended transition period for adopting new accounting standards as an emerging growth company[145]. - The company may utilize reduced disclosure requirements applicable to emerging growth companies, including R&D progress and market conditions affecting the biotechnology industry[146]. - Recent accounting pronouncements reviewed by the company are not expected to have a material impact on financial statements[149]. - As a smaller reporting company, the company is not required to provide certain market risk disclosures[150]. Compliance and Regulatory - The company believes it regained compliance with Nasdaq's Stockholders' Equity Requirement as of April 14, 2025[100]. - The company has no off-balance sheet arrangements or material contractual obligations as of March 31, 2025[126][127].

Exhibit 99.1 Blaize Announces First Quarter 2025 Financial Results EL DORADO HILLS, Calif.—(BUSINESS WIRE)—May 14, 2025—Blaize Holdings, Inc. (NASDAQ: BZAI), a leader in energy-efficient AI inference at the edge for physical systems, today announced financial results for the quarter ended March 31, 2025. The company reported strong customer traction and continued commercial momentum across its key verticals in smart infrastructure, defense, and mobility. "This quarter proved we're executing where it counts. ...

Exhibit 99.1 Blaize Announces First Quarter 2025 Financial Results EL DORADO HILLS, Calif.—(BUSINESS WIRE)—May 14, 2025—Blaize Holdings, Inc. (NASDAQ: BZAI), a leader in energy-efficient AI inference at the edge for physical systems, today announced financial results for the quarter ended March 31, 2025. The company reported strong customer traction and continued commercial momentum across its key verticals in smart infrastructure, defense, and mobility. "This quarter proved we're executing where it counts. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to 2450 Holcombe Blvd., Suite X, Houston, TX 77021 (Address of principal executive offices)(Zip Code) (713)913-5608 Registrant's telephone n ...

The forward-looking statements contained in this presentation are based on historical performance and management's current plans, estimates and expectations in light of information currently available to it and are subject to uncertainty and changes in circumstances. There can be no assurance that future developments affecting us will be those that we have anticipated. Actual results may differ materially from these expectations due to the factors, risks and uncertainties described in the Annual Report on F ...