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Blend Labs, Inc.

BLND Technology Software Application

Blend Labs, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $123.6 million, up 6.76% from fiscal 2024.

Revenue
+6.98%
EPS
+25.0%
Free cash flow
+170.3%

Quarter to June 2026, against a year earlier

0.98 0.16 −14.04%
Market cap
$269.6M
P/E
0.0×
Fwd P/E
−7.6×
Dividend yield
—
F-score
6/9
Altman Z
−8.39
Beneish M
−2.80
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 11.90
Sold, $m 0.55
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 4 3 — 1 — — —
Sell 1 2 1 — — 1 — — 2 4 4 1
Insider Ownership 23.66%

Capital & Financial Ratios $m

Size
Market Cap 269.63
Revenue ttm 129.79
Net income ttm 0.03
Free cash flow ttm 7.55
Net debt Q (44.87)
Valuation
P/E 0.00
Forward P/E (7.57) (negative: loss-making)
Price / sales 1.77
Forward P/S Powerpack
Price / FCF 30.49
Price / book 0.00
Financial health
Current ratio Q 1.62 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (7.93)
Growth
Revenue growth Q +6.98% (above 0%: growing)
Operating income growth Q +67.34% (above 0%: growing)
EPS, this year +650.00% (at or above 15%: strong)
EPS, next year A −37.78% (below 0%: weak)
Revenue, next year A +2.04%
EPS, past 5 yrs —
EPS, next 5 yrs A +118.98% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 4.0×; over the ten years it ranged from 0.3× in 2023 to 13.7× in 2021.
P/S against its own 10 years 15.66%
10-year low 10-year high
EV/Sales against its own 10 years 31.54%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 137 94 68 45
Receivables 18 15 9 14
Inventory — — — —
Other — — — —
170 135 98 76
2023 2024 2025 Q'26
Payables 2 2 2 0
ST’ Debt — — — —
Other 15 10 9 11
32 39 39 47

Compound Annual Growth %

10y 5y 3y
Sales — 5.18% (19.31%)
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.01 Actual 0.00

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.02 0.00 Miss by 0.02
Q1 FY26 0.02 0.00 Miss by 0.02
Q2 FY26 0.02 0.00 Miss by 0.02
Q3 FY26 0.01 0.00 Miss by 0.01
Q4 FY26 0.02 — Reports 9 March 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.05) (0.03) — — —
’25 (0.05) (0.04) 0.02 (0.03) (0.10)
’24 (0.09) (0.09) (0.03) (0.03) (0.24)
’23 (0.28) (0.18) (0.18) (0.13) (0.76)
’22 (0.32) (2.06) (0.57) (0.35) (3.28)
’21 (0.60) 0.00 (0.38) (0.32) (1.30)
’20 (0.10) (0.53) (0.38) — (1.89)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 31 34 — — —
’25 27 32 33 32 124
’24 24 29 33 30 116
’23 37 43 41 36 110
’22 72 66 55 43 235
’21 32 32 90 81 234
’20 16 22 28 31 96
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 7 8 — — —
’25 20 (7) (3) 1 12
’24 (4) (7) 2 (5) (13)
’23 (47) (34) (26) (21) (128)
’22 (46) (47) (50) (47) (190)
’21 (20) (33) (31) (43) (128)
’20 (21) (40) (14) (11) (65)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 6 7 — — —
’25 16 (10) (6) 0 0
’24 (6) (9) (1) (7) (23)
’23 (47) (35) (26) (20) (128)
’22 (46) (48) (51) (48) (192)
’21 (21) (33) (32) (44) (129)
’20 (21) (40) (15) (12) (66)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 51 96 234 235 110 116 124 130 +16.0% 126 126 142 +4.7%
Gross margin, % — — — 61.42 64.29 49.46 38.12 69.79 71.89 73.77 74.78 +12.4 pt
EBT — — — (81) (75) (208) (766) (167) (43) (1) 3 (53.0%)
EBT margin, % — — — (160.72) (77.68) (88.71) (325.70) (152.80) (36.84) (0.71) 2.64 +160.0 pt
Net income — 0 — (81) (75) (169) (764) (180) (43) (7) 0 n/m
Per share, $
Per share, $ Revenue — — — 1.55 2.44 1.78 1.00 0.45 0.46 0.48 0.54 (17.8%)
Earnings — — — (2.49) (1.89) (1.30) (3.28) (0.76) (0.24) (0.10) (0.08) (41.5%)
Cash flow — — — (1.80) (1.65) (0.97) (0.81) (0.52) (0.05) 0.04 0.05 n/m
Capex — — — (0.02) (0.03) (0.01) (0.01) 0.00 (0.04) (0.04) (0.02) +15.5%
Free cash flow — — — (1.82) (1.68) (0.98) (0.82) (0.52) (0.09) 0.00 0.03 (76.6%)
Book value — — — 0.00 4.14 5.87 0.53 (0.08) (0.22) (0.12) (0.31) n/m
Shares, m — — — 33 39 132 234 245 254 259 254 +41.1%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S — — — 8.87 8.87 4.13 1.52 3.97 9.23 6.37 1.77 6.1
P/B — — — 0.00 0.00 1.25 2.91 0.00 0.00 0.00 0.00 0.6
EV/Sales — — — 7.12 7.12 2.71 0.94 3.98 9.62 6.93 2.50 5.5
EV/FCF — — — (10.95) (10.95) (4.91) (1.15) (4.89) (48.87) (10,571.10) 42.93 (1,521.8)
Cash, $m
Cash, $m Operating cash flow — — — (59) (65) (128) (190) (128) (13) 12 13 n/m
Capex — — — (1) (1) (2) (2) 0 (10) (12) (6) +62.9%
Free cash flow — — — (60) (66) (129) (192) (128) (23) 0 8 (66.7%)
Balance, $m
Balance, $m Working capital — — — 120 151 553 361 138 96 58 29 (11.3%)
Net debt — — — (128) (138) (333) (137) 1 (94) (68) (45) (9.9%)
Shareholders’ equity — — — — 163 775 123 (19) (56) (30) (74) n/m
Returns, %
Returns, % ROA — — — 0.00 (69.17) (25.80) (99.48) (58.02) (31.49) (14.87) (11.56) (14.9) pt
ROIC — — — 0.00 (184.96) (27.94) 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE — — — 41.35 37.89 (62.00) (171.22) (356.63) 160.01 59.63 38.95 +18.3 pt
People
People Employees — — — — 577 1,689 1,546 881 540 419 — (6.2%)
Revenue/emp, $m — — — 0.00 0.17 0.14 0.15 0.12 0.21 0.29 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Blend Labs, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ASUR Asure Software, Inc. $289.6M — (loss-making) — (loss-making) +10.40% (above 0%: growing) n/m +125.46% (above 0%: growing) 69.57% 1.29% Compare
XPER Xperi Inc. $278.5M — (loss-making) — (loss-making) +2.08% (above 0%: growing) n/m +112.43% (above 0%: growing) 68.85% 1.55% Compare
HKD AMTD Digital Inc. Sponsored ADR $273.9M — — — — +39.75% (above 0%: growing) 0.00% 0.00% Compare
BLND Blend Labs, Inc. $269.6M — (loss-making) — (loss-making) +6.98% (above 0%: growing) n/m +170.31% (above 0%: growing) 73.54% (4.66%)
ENRD Einride AB - Sponsored ADR $261.1M 6.4× — — −17.66% (below 0%: shrinking) −28.82% (below 0%: shrinking) — 0.00% Compare
MFI mF International Limited $257.3M — — — — −38.82% (below 0%: shrinking) — — Compare
AZ A2Z Cust2Mate Solutions Corp. $255.4M — (loss-making) — (loss-making) +408.97% (above 0%: growing) n/m −105.27% (below 0%: shrinking) 42.55% (128.56%) Compare
RBBN Ribbon Communications Inc. $247.3M 12.3× — (loss-making) +1.55% (above 0%: growing) n/m −174.05% (below 0%: shrinking) 48.25% 2.56% Compare
GLOO Gloo Holdings, Inc. $247.1M — (loss-making) — (loss-making) +187.97% (above 0%: growing) n/m +49.40% (above 0%: growing) 36.02% (44.02%) Compare
Median of peers $259.2M — — +10.40% — +5.47% 45.40% 0.00%

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 29 April 2026

Ownership

Directors and executive officers, together 73.30% of the votes
Nima Ghamsari 59.40% of the votes
Brian Sheth 18.30% of the votes
Entities affiliated with Lightspeed 6.20% of the votes
BlackRock, Inc. 4.70% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Blend Labs, Inc. (BLND) Latest News

6 Nov

Impact 3 · · MarketBeat
Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · Associated Press

22 Oct

Impact 3 · · Business Wire

12 Oct

Impact 4 · · Business Wire

8 Oct

Impact 4 · · Business Wire

23 Sep

Impact 4 ·

9 Sep

Impact 3 ·

20 Aug

Impact 4 ·

18 Aug

Impact 3 ·

13 Aug

Impact 3 ·

7 Aug

Impact 4 ·
Impact 3 · · MarketBeat transcript

6 Aug

Impact 3 ·

4 Aug

Impact 3 ·

16 Jul

Impact 4 ·

7 Jul

Impact 4 ·

16 Jun

Impact 3 ·

2 Jun

Impact 3 · · Insider Monkey

19 May

Impact 3 · · Business Wire

9 May

Impact 4 · · MarketBeat

8 May

Impact 3 · · Moby transcript

7 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Business Wire

4 May

Impact 4 · · Business Wire

20 Apr

Impact 3 ·

16 Apr

Impact 4 · · Business Wire

15 Apr

Impact 4 ·

13 Apr

Impact 4 · · Business Wire
stockrow.com/BLND · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com