Blend Labs, Inc. BLND

Technology SIC 7370 - Services-Computer Programming, Data Processing, Etc. NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services derived NYSE

Blend (NYSE: BLND) is on a mission to transform the financial services industry by making the process of obtaining a loan or opening an account as seamless and intuitive as modern e-commerce. Today's consumers expect simplicity, hyper-personalization, and speed across every banking and lending interaction.

Our platform brings together the data, technology, and AI-powered architecture needed to streamline and personalize every step of origination. We help financial institutions deliver transparency, speed, and scale across all major product lines in home lending and consumer banking, supporting end-to-end mortgage applications, home equity, refinance, vehicle, credit card, personal loan, and deposit account opening.

Last close 1.17 2026-10-23
Market cap $280.7M estimated share count
52-week range 0.88 - 3.62

Valuation FY2025 figures against the last close

P/S2.3x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.10

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $123.6M$115.8M$109.5M$235.2M$234.5M$96.0M$50.7M—
Cost of revenue $32.4M$32.5M$33.1M$145.6M$118.5M$34.3M$19.5M—
Gross profit $91.2M$83.2M$76.5M$89.7M$116.0M$61.7M$31.1M—
R&D $32.8M$46.1M$81.3M$138.1M$92.2M$55.5M$48.6M—
SG&A $50.1M$45.7M$61.3M$139.1M$128.8M$30.1M$26.6M—
Total operating expenses $112.9M$132.1M$220.1M$835.8M$313.2M$137.0M$112.8M—
Operating income -$21.7M-$48.8M-$143.6M-$746.2M-$197.2M-$75.3M-$81.7M—
Interest expense $0$6.7M$30.8M$24.8M$11.3M$0$0—
Pre-tax income -$878.0K-$42.7M-$167.4M-$766.1M-$208.0M-$74.6M-$81.4M—
Income tax $249.0K$109.0K$94.0K$2.2M$38.9M$26.0K$13.0K—
Net income -$6.8M-$43.3M-$178.7M-$720.2M-$169.9M-$74.6M-$81.5M—
EPS, basic -0.10-0.24-0.76-3.28-1.30-1.89-2.49—
EPS, diluted -0.10-0.24-0.76-3.28-1.30-1.89-2.49—
Shares, diluted (wtd. avg.) 258.9M253.9M245.2M234.2M132.0M39.4M32.8M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $36.5M$38.0M$23.5M$124.2M$218.4M$46.3M$28.5M$20.2M
Short-term investments $51.8M$56.2M$106.0M$229.9M$334.1M$110.6M——
Total current assets $126.4M$135.2M$169.8M$396.1M$613.0M$186.1M——
Property, plant and equipment $20.7M$11.7M$3.9M$5.7M$6.2M$4.6M——
Goodwill ———$0$287.2M$0——
Other intangibles $73.0K$77.0K$2.1M$2.1M$173.0M$1.2M——
Total assets $182.2M$178.1M$206.1M$432.8M$1.11B$215.7M——
Accounts payable $1.2M$1.6M$2.2M$1.3M$6.2M$3.4M——
Total current liabilities $52.4M$39.0M$31.6M$35.5M$60.0M$35.0M——
Long-term debt $0$0$138.3M$216.8M$213.8M$0——
Total liabilities $55.0M$40.4M$179.1M$268.8M$301.9M$52.4M——
Retained earnings -$1.40B-$1.38B-$1.34B-$1.16B-$442.8M-$272.9M——
Total equity -$23.1M-$56.4M-$19.2M$123.2M$774.6M$163.3M$135.0M$71.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $11.5M-$13.0M-$127.6M-$190.4M-$127.5M-$65.0M-$58.9M—
Depreciation and amortisation $3.3M$1.3M$1.5M$10.8M$10.6M$4.0M$4.8M—
Stock-based compensation $29.0M$27.9M$45.6M$109.7M$70.8M$10.1M$9.9M—
Capital expenditure $11.6M$9.7M$35.0K$2.1M$1.9M$1.3M$580.0K—
Investing cash flow $18.5M$45.4M$127.3M$99.4M-$633.9M-$7.9M-$65.5M—
Financing cash flow -$32.6M-$21.1M-$91.0M$2.2M$933.6M$90.8M$132.7M—
Buybacks $24.9M$0$0—————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001855747-26-000016.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -750M -500M -250M 0 250M Revenue, FY2019: 50.7M Gross profit, FY2019: 31.1M Net income, FY2019: -81.5M Revenue, FY2020: 96M Gross profit, FY2020: 61.7M Net income, FY2020: -74.6M Revenue, FY2021: 234.5M Gross profit, FY2021: 116M Net income, FY2021: -169.9M Revenue, FY2022: 235.2M Gross profit, FY2022: 89.7M Net income, FY2022: -720.2M Revenue, FY2023: 109.5M Gross profit, FY2023: 76.5M Net income, FY2023: -178.7M Revenue, FY2024: 115.8M Gross profit, FY2024: 83.2M Net income, FY2024: -43.3M Revenue, FY2025: 123.6M Gross profit, FY2025: 91.2M Net income, FY2025: -6.8M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $50.7M $96.0M $234.5M $235.2M $109.5M $115.8M $123.6M
Gross profit — $31.1M $61.7M $116.0M $89.7M $76.5M $83.2M $91.2M
Net income — -$81.5M -$74.6M -$169.9M -$720.2M -$178.7M -$43.3M -$6.8M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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