Blend Labs, Inc. income statement BLND

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Blend Labs, Inc. reported revenue of $123.6 million, up 6.8% from the year before. It recorded a net loss of $6.8 million. The operating loss came to $21.7 million, an operating margin of -17.6%. Diluted earnings per share were -$0.10. Over the twelve months ended Sep 30, 2026, revenue was $130.0 million and the net loss was $14.0 million. Across the 5 fiscal years shown, revenue shrank from $234.5 million in fiscal 2021 to $123.6 million in fiscal 2025, about 14.8% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021
Revenue	130 +7.2%	124 +6.8%	116 +5.7%	110 -53.4%	235 +0.3%	234
Cost of revenue	33 +3.6%	32 -0.4%	33 -1.7%	33 -77.3%	146 +22.8%	119
Gross profit	97 +8.5%	91 +9.5%	83 +8.8%	76 -14.7%	90 -22.7%	116
Research and development	35 +7.4%	33 -28.7%	46 -43.3%	81 -41.2%	138 +49.8%	92
Selling, general and administrative	73 -4.2%	79 -1.1%	80 -32.6%	119 -47.1%	224 +5.4%	213
Restructuring and impairment	1 -25.5%	1 -85.2%	6 -70.7%	20 +31.3%	15	—
Operating expenses	109 -0.9%	113 -14.5%	132 -40.0%	220	—	—
Operating income	-13 +40.0%	-22 +55.5%	-49 +66.0%	-144 +80.8%	-746 -278.3%	-197
Interest expense	—	0 -100.0%	7	—	—	—
Other non-operating income (expense)	2 -90.5%	21 +61.2%	13 +84.0%	7 +43.1%	5 +897.2%	0
Pretax income	-11 -1142.4%	-1 +97.9%	-43 +74.5%	-167 +78.1%	-766 -268.2%	-208
Income tax	0 +287.7%	0 +128.4%	0 +16.0%	0 +104.2%	-2 +94.2%	-39
Net income	-14 -175.1%	-7 +84.3%	-43 +75.7%	-179 +75.2%	-720 -323.8%	-170
Net income to common	-33 -33.1%	-26 +57.2%	-60 +67.4%	-185 +75.9%	-769 -348.6%	-171
Basic EPS	-0.14 -38.9%	-0.10 +58.3%	-0.24 +68.4%	-0.76 +76.8%	-3.28 -152.3%	-1.30
Diluted EPS	-0.14 -38.9%	-0.10 +58.3%	-0.24 +68.4%	-0.76 +76.8%	-3.28 -152.3%	-1.30
Weighted average shares, basic	248 -4.2%	259 +2.0%	254 +3.6%	245 +4.7%	234 +77.4%	132
Weighted average shares, diluted	248 -4.2%	259 +2.0%	254 +3.6%	245 +4.7%	234 +77.4%	132
Other measures
Depreciation and amortization	6 +137.9%	3 +145.6%	1 -11.6%	2 -85.9%	11 +1.5%	11
EBITDA	-7 +62.0%	-18 +61.2%	-48 +66.6%	-142 +80.7%	-735 -294.0%	-187
Interest coverage	—	—	-7.24x	—	—	—
Margins
Gross margin	74.26%	73.77%	71.89%	69.79%	38.12%	49.46%
Operating margin	-9.90%	-17.59%	-42.19%	-131.09%	-317.25%	-84.11%
Pretax margin	-8.39%	-0.71%	-36.84%	-152.80%	-325.70%	-88.71%
Profit margin	-10.78%	-5.50%	-37.44%	-163.12%	-306.19%	-72.46%
EBITDA margin	-5.58%	-14.93%	-41.04%	-129.71%	-312.67%	-79.59%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

New to this? Read How to Read an Income Statement, With a Real Example.

Company profile

Industry: Services-Computer Programming, Data Processing, Etc. (SIC 7370)
Listed as: BLND (NYSE)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: Novato, CA
SEC filer status: Accelerated filer, Emerging growth company
SEC CIK: 1855747

Other Services-Computer Programming, Data Processing, Etc. companies

All 94 Services-Computer Programming, Data Processing, Etc. companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.