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BLND logoBlend Labs, Inc.(BLND)Earnings, Financials & Key Ratios

BLND•NYSE
$1.61
$409M mkt cap·Price updated May 7, 2026
SectorTechnologyIndustryApplication SoftwareSub-IndustryFinancial services and insurance software
AboutBlend Labs, Inc. provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts. It also provides a suite of mortgage products that facilitates homeownership journey for consumers comprising close, income verification for mortgage, homeowners insurance, and realty. In addition, the company offers title search procedures for title insurance policies, escrow, and other closing and settlement services, as well as other trustee services; and professional and consulting services. It serves banks, credit unions, financial technology companies, and non-bank mortgage lenders. Blend Labs, Inc. was incorporated in 2012 and is headquartered in San Francisco, California.Show more
  • Revenue$124M-23.8%
  • EBITDA-$17M+61.8%
  • Net Income-$7M+86.3%
  • EPS (Diluted)-0.10+58.3%
  • Gross Margin73.75%+32.0%
  • EBITDA Margin-13.86%+49.9%
  • Operating Margin-16.96%+44.6%
  • Net Margin-5.51%+82.0%
  • ROIC-70.67%+1.9%
Technical→

BLND Key Insights

Blend Labs, Inc. (BLND) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 38.1%

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 8 (bottom 8%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

BLND Price & Volume

Blend Labs, Inc. (BLND) stock price & volume — 10-year historical chart

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BLND Growth Metrics

Blend Labs, Inc. (BLND) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years5.16%
3 Years-19.32%
TTM-10.18%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM75.04%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM58.81%

Return on Capital

10 Years-48.9%
5 Years-47.35%
3 Years-33.94%
Last Year-15.54%

BLND Recent Earnings

Blend Labs, Inc. (BLND) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Mar 10, 2026
EPS
$0.03
Est $0.01
-400.0%
Revenue
$32M
Est $32M
+1.9%
Q4 2025
Nov 6, 2025
EPS
$0.03
Est $0.02
-250.0%
Revenue
$33M
Est $32M
+3.4%
Q3 2025
Aug 7, 2025
EPS
$0.03
Est $0.02
-250.0%
Revenue
$32M
Est $37M
-14.1%
Q2 2025
May 8, 2025
EPS
$0.01
Est $0.01
+0.0%
Revenue
$27M
Est $32M
-16.2%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 10, 2026
$0.03vs $0.01-400.0%
$32Mvs $32M+1.9%
Q4 2025Nov 6, 2025
$0.03vs $0.02-250.0%
$33Mvs $32M+3.4%
Q3 2025Aug 7, 2025
$0.03vs $0.02-250.0%
$32Mvs $37M-14.1%
Q2 2025May 8, 2025
$0.01vs $0.01+0.0%
$27Mvs $32M-16.2%
Based on last 12 quarters of dataView full earnings history →

BLND Peer Comparison

Blend Labs, Inc. (BLND) competitors in Financial services and insurance software — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
UWMC logoUWMCUWM Holdings CorporationDirect Competitor525.75M3.3828.1765.83%1.67%9.06
BETR logoBETRBetter Home & Finance Holding CompanyDirect Competitor468.74M30.52-2.8259.41%-10.59%16.55
PFSI logoPFSIPennyMac Financial Services, Inc.Direct Competitor4.62B88.659.53173.81%12.02%5.35
GHLD logoGHLDGuild Holdings CompanyDirect Competitor439.06M20.0112.8360.87%10.27%2.42
ICE logoICEIntercontinental Exchange, Inc.Product Competitor88.45B156.1527.067.46%11.57%0.70
CLPT logoCLPTClearPoint Neuro, Inc.Product Competitor343.03M11.68-12.9817.78%-69.08%-122.17%2.08
OPEN logoOPENOpendoor Technologies Inc.Product Competitor4.08B5.32-3.13-15.18%-35.25%-163.25%0.19
TREE logoTREELendingTree, Inc.Product Competitor551.88M39.833.6924.12%85.96%1.52

Compare BLND vs Peers

Blend Labs, Inc. (BLND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs UWMC

Most directly comparable listed peer for BLND.

Scale Benchmark

vs ICE

Larger-name benchmark to compare BLND against a more recognizable public peer.

Peer Set

Compare Top 5

vs UWMC, BETR, PFSI, GHLD

BLND Income Statement

Blend Labs, Inc. (BLND) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue50.67M96.03M234.5M235.2M156.85M162.02M123.51M127.59M
Revenue Growth %-89.51%144.19%0.3%-33.31%3.3%-23.77%-10.18%
Cost of Goods Sold19.55M34.29M118.51M145.55M75.71M71.47M32.42M32.08M
COGS % of Revenue38.58%35.71%50.54%61.88%48.27%44.12%26.25%-
Gross Profit
31.12M▲ 0%
61.74M▲ 98.4%
115.99M▲ 87.9%
89.65M▼ 22.7%
81.14M▼ 9.5%
90.54M▲ 11.6%
91.09M▲ 0.6%
95.5M▲ 0%
Gross Margin %61.42%64.29%49.46%38.12%51.73%55.88%73.75%74.84%
Gross Profit Growth %-98.37%87.87%-22.71%-9.5%11.6%0.6%-
Operating Expenses112.85M137.03M313.23M835.83M237.36M140.16M112.03M113.14M
OpEx % of Revenue222.7%142.7%133.58%355.37%151.33%86.51%90.71%-
Selling, General & Admin64.25M81.53M212.88M224.37M130.82M86.61M79.19M79.13M
SG&A % of Revenue126.8%84.9%90.78%95.39%83.41%53.45%64.12%-
Research & Development48.6M55.5M92.22M138.09M81.59M46.09M32.84M34.08M
R&D % of Revenue95.91%57.8%39.33%58.71%52.02%28.45%26.59%-
Other Operating Expenses008.14M473.37M24.95M7.47M0-60K
Operating Income
-81.72M▲ 0%
-75.29M▲ 7.9%
-197.24M▼ 162.0%
-746.18M▼ 278.3%
-156.22M▲ 79.1%
-49.62M▲ 68.2%
-20.94M▲ 57.8%
-18.2M▲ 0%
Operating Margin %-161.28%-78.4%-84.11%-317.25%-99.6%-30.63%-16.96%-14.26%
Operating Income Growth %-7.87%-161.97%-278.31%79.06%68.24%57.79%-
EBITDA-76.96M-68.94M-183.43M-731.76M-150.46M-44.8M-17.12M-14.86M
EBITDA Margin %-151.88%-71.8%-78.22%-311.12%-95.93%-27.65%-13.86%-11.65%
EBITDA Growth %-10.41%-166.05%-298.94%79.44%70.22%61.78%53%
D&A (Non-Cash Add-back)4.76M6.35M13.81M14.42M5.76M4.82M3.82M3.33M
EBIT-81.44M-74.59M-196.75M-741.26M-148.97M-36.56M-20.94M-14.36M
Net Interest Income01M-11.28M-24.79M-30.81M-6.75M00
Interest Income01M000000
Interest Expense0011.28M24.79M30.81M6.75M00
Other Income/Expense283K700K-10.79M-19.87M-23.56M6.31M19.99M19.75M
Pretax Income
-81.44M▲ 0%
-74.59M▲ 8.4%
-208.03M▼ 178.9%
-766.05M▼ 268.2%
-179.78M▲ 76.5%
-43.31M▲ 75.9%
-878K▲ 98.0%
1.56M▲ 0%
Pretax Margin %-160.72%-77.68%-88.71%-325.7%-114.63%-26.73%-0.71%1.22%
Income Tax13K26K-38.89M-2.24M94K109K249K156K
Effective Tax Rate %-0.02%-0.03%18.69%0.29%-0.05%-0.25%-28.36%10.02%
Net Income
-81.45M▲ 0%
-74.62M▲ 8.4%
-171.34M▼ 129.6%
-768.61M▼ 348.6%
-185.32M▲ 75.9%
-49.6M▲ 73.2%
-6.8M▲ 86.3%
-9.47M▲ 0%
Net Margin %-160.75%-77.7%-73.07%-326.79%-118.15%-30.62%-5.51%-7.43%
Net Income Growth %-8.39%-129.63%-348.58%75.89%73.23%86.29%75.04%
Net Income (Continuing)-81.45M-74.62M-169.14M-763.81M-179.88M-43.42M-1.13M-6.42M
Discontinued Operations000000-5.86M-1.05M
Minority Interest0035.95M40.75M46.19M52.38M00
EPS (Diluted)
-0.37▲ 0%
-0.34▲ 8.1%
-0.74▼ 117.6%
-3.28▼ 343.2%
-0.76▲ 76.8%
-0.24▲ 68.4%
-0.10▲ 58.3%
-0.04▲ 0%
EPS Growth %-8.11%-117.65%-343.24%76.83%68.42%58.33%58.81%
EPS (Basic)-0.37-0.34-0.74-3.28-0.76-0.24-0.10-
Diluted Shares Outstanding219.59M219.59M230.32M234.16M245.21M253.92M258.95M255.63M
Basic Shares Outstanding219.59M219.59M230.32M234.16M245.21M253.92M258.95M255.63M
Dividend Payout Ratio--------

BLND Balance Sheet

Blend Labs, Inc. (BLND) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets144.85M186.15M613.02M396.1M169.84M135.17M97.86M93.1M
Cash & Short-Term Investments127.27M151.72M547.23M354.15M136.92M98.48M68.32M59.04M
Cash Only22.65M41.09M213.08M124.2M30.96M42.24M43.58M37.43M
Short-Term Investments104.62M110.63M334.15M229.95M105.96M56.23M24.74M21.61M
Accounts Receivable10.84M24.22M39.44M23.97M19.94M19.9M14.05M17.88M
Days Sales Outstanding78.0792.0561.3837.246.444.8441.5341.66
Inventory3.87M0000000
Days Inventory Outstanding72.32-------
Other Current Assets06.08M7.85M5.82M2.89M7.9M15.49M16.18M
Total Non-Current Assets16.45M29.6M499.47M36.67M36.23M42.84M72.18M68.16M
Property, Plant & Equipment2.96M17.28M20.87M17.41M12.51M13.79M24.39M23.89M
Fixed Asset Turnover17.11x5.56x11.24x13.51x12.54x11.75x5.06x5.33x
Goodwill00287.23M00000
Intangible Assets4.14M1.21M173.01M2.13M2.11M2.08M00
Long-Term Investments5.2M0005.38M9.8M40.07M84.25M
Other Non-Current Assets9.36M11.11M18.36M17.13M16.23M17.17M7.72M89.97M
Total Assets
161.3M▲ 0%
215.75M▲ 33.8%
1.11B▲ 415.6%
432.76M▼ 61.1%
206.06M▼ 52.4%
178.01M▼ 13.6%
170.04M▼ 4.5%
161.26M▲ 0%
Asset Turnover0.31x0.45x0.21x0.54x0.76x0.91x0.73x0.73x
Asset Growth %-33.75%415.65%-61.1%-52.38%-13.61%-4.48%-18.23%
Total Current Liabilities21.73M35.03M60.03M35.47M31.57M38.95M39.53M51.45M
Accounts Payable3.14M3.44M6.16M1.26M2.17M2.42M1.83M259K
Days Payables Outstanding58.7136.5918.973.1610.4612.3420.5611.54
Short-Term Debt00000000
Deferred Revenue (Current)12.4M13.62M8.07M8.7M8.98M19.24M19.46M53.49M
Other Current Liabilities2.86M9.38M18.14M10.06M5.56M4.05M17.99M17.43M
Current Ratio6.67x5.31x10.21x11.17x5.38x3.47x2.48x2.48x
Quick Ratio6.49x5.31x10.21x11.17x5.38x3.47x2.48x2.48x
Cash Conversion Cycle91.68------30.12
Total Non-Current Liabilities4.6M17.38M241.87M233.37M147.54M143.04M161.06M1.5M
Long-Term Debt00213.84M216.8M138.33M0159.5M0
Capital Lease Obligations014M14.61M11.09M6.98M801K1.22M3.95M
Deferred Tax Liabilities002.86M00000
Other Non-Current Liabilities4.6M3.38M10.55M5.48M2.23M142.24M346K3.35M
Total Liabilities26.33M52.41M301.89M268.84M179.12M181.99M200.6M52.95M
Total Debt016.58M232.31M231.98M149.69M3.83M160.97M0
Net Debt-22.65M-24.51M19.22M107.78M118.73M-38.41M117.39M-37.43M
Debt / Equity-0.10x0.29x1.42x5.56x---0.00x
Debt / EBITDA--------0.00x
Net Debt / EBITDA-------2.52x
Interest Coverage---17.44x-29.90x-4.84x-5.42x--
Total Equity
134.97M▲ 0%
163.34M▲ 21.0%
810.59M▲ 396.3%
163.92M▼ 79.8%
26.95M▼ 83.6%
-3.98M▼ 114.8%
-30.55M▼ 667.4%
-55.91M▲ 0%
Equity Growth %-21.02%396.27%-79.78%-83.56%-114.77%-667.45%-902.82%
Book Value per Share0.610.743.520.700.11-0.02-0.12-0.22
Total Shareholders' Equity134.97M163.34M774.64M123.17M-19.24M-56.36M-30.55M-55.91M
Common Stock1K1K2K2K2K2K2K2K
Retained Earnings-198.24M-272.85M-442.76M-1.16B-1.34B-1.38B-1.39B-1.4B
Treasury Stock00000000
Accumulated OCI93K-5K-808K-708K441K602K597K663K
Minority Interest0035.95M40.75M46.19M52.38M00

BLND Cash Flow Statement

Blend Labs, Inc. (BLND) cash flow — operating, investing & free cash flow history

Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-58.94M-65.01M-127.5M-190.42M-127.62M-13.04M11.51M11.51M
Operating CF Margin %-116.32%-67.7%-54.37%-80.96%-81.37%-8.05%9.32%-
Operating CF Growth %--10.31%-96.12%-49.34%32.98%89.78%188.26%-200.77%
Net Income-81.45M-74.62M-169.14M-763.81M-179.88M-43.42M-25.97M-9.47M
Depreciation & Amortization4.76M6.35M13.81M14.42M5.76M4.82M3.82M5.22M
Stock-Based Compensation9.89M10.12M70.84M109.7M46.02M28.08M28.95M29.59M
Deferred Taxes00-39.31M00000
Other Non-Cash Items3.8M4.37M9.36M453.76M4.73M-4.41M7.43M-6.07M
Working Capital Changes4.06M-11.23M-13.07M-4.48M-4.25M1.89M-2.73M-22.71M
Change in Receivables301K-12.17M-5.84M12.29M4.27M918K5.76M1.85M
Change in Inventory00000000
Change in Payables2.58M293K1.56M-4.9M910K-67K206K-2.44M
Cash from Investing-65.51M-7.92M-633.91M99.43M127.31M45.4M18.54M18.2M
Capital Expenditures-580K-1.32M-1.89M-2.07M-587K-9.84M-11.59M-8.68M
CapEx % of Revenue1.14%1.38%0.8%0.88%0.37%6.08%9.39%-
Acquisitions00-400.01M009.07M00
Investments--------
Other Investing-40K0-3M0-2.5M-5.28M18.89M33.4M
Cash from Financing132.67M90.76M933.57M2.22M-90.96M-21.06M-32.59M-27.41M
Debt Issued (Net)4.99M0221.67M0-85.06M-144.5M00
Equity Issued (Net)124.65M76.25M676.51M-391K268K149.38M-23.22M-21.44M
Dividends Paid00000000
Share Repurchases000-391K00-24.87M-22.3M
Other Financing3.03M14.51M35.39M2.61M-6.17M-25.94M-9.37M-5.97M
Net Change in Cash
8.21M▲ 0%
17.83M▲ 117.0%
172.15M▲ 865.7%
-88.88M▼ 151.6%
-91.3M▼ 2.7%
11.28M▲ 112.4%
-3.69M▼ 132.7%
-27.25M▲ 0%
Free Cash Flow
-59.56M▲ 0%
-66.33M▼ 11.4%
-129.39M▼ 95.1%
-192.49M▼ 48.8%
-128.21M▲ 33.4%
-22.89M▲ 82.1%
-81K▲ 99.6%
-8.54M▲ 0%
FCF Margin %-117.54%-69.08%-55.18%-81.84%-81.74%-14.13%-0.07%-6.69%
FCF Growth %--11.38%-95.06%-48.76%33.39%82.15%99.65%-589.74%
FCF per Share-0.27-0.30-0.56-0.82-0.52-0.09-0.00-0.00
FCF Conversion (FCF/Net Income)0.72x0.87x0.74x0.25x0.69x0.26x-1.69x0.90x
Interest Paid006.43M25.06M27.81M6.15M00
Taxes Paid8K26K884K276K107K76K389K256K

BLND Key Ratios

Blend Labs, Inc. (BLND) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric202020212022202320242025TTM
Return on Equity (ROE)-50.03%-35.19%-157.74%-194.19%-431.98%--20.65%
Return on Invested Capital (ROIC)-44.97%-30.54%-101.61%-56.14%-72.06%-70.67%-70.67%
Gross Margin64.29%49.46%38.12%51.73%55.88%73.75%74.84%
Net Margin-77.7%-73.07%-326.79%-118.15%-30.62%-5.51%-7.43%
Debt / Equity0.10x0.29x1.42x5.56x---0.00x
Interest Coverage--17.44x-29.90x-4.84x-5.42x--
FCF Conversion0.87x0.74x0.25x0.69x0.26x-1.69x0.90x
Revenue Growth89.51%144.19%0.3%-33.31%3.3%-23.77%-10.18%

BLND SEC Filings & Documents

Blend Labs, Inc. (BLND) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Mar 10, 2026·SEC

Material company update

Mar 2, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 16, 2026·SEC

FY 2025

Mar 13, 2025·SEC

FY 2024

Mar 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

BLND Frequently Asked Questions

Blend Labs, Inc. (BLND) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Blend Labs, Inc. (BLND) reported $127.6M in revenue for fiscal year 2025. This represents a 152% increase from $50.7M in 2019.

Blend Labs, Inc. (BLND) saw revenue decline by 23.8% over the past year.

Blend Labs, Inc. (BLND) reported a net loss of $9.5M for fiscal year 2025.

Dividend & Returns

Blend Labs, Inc. (BLND) had negative free cash flow of $8.5M in fiscal year 2025, likely due to heavy capital investments.

Explore More BLND

Blend Labs, Inc. (BLND) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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