Blend Labs, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 09/30/25 | FY 06/30/25 | FY 03/31/25 | FY 12/31/24 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $123.6M | — | — | — | $115.8M |
| Cost of revenue | $32.4M | — | — | — | $32.5M |
| Gross profit | $91.2M | — | — | — | $83.2M |
| Research and development | $32.8M | — | — | — | $46.1M |
| Operating expenses | $112.9M | — | — | — | $132.1M |
| Operating income | -$21.7M | — | — | — | -$48.8M |
| Interest expense | $0 | — | — | — | $6.7M |
| Pretax income | -$878,000 | — | — | — | -$42.7M |
| Income tax expense | $249,000 | — | — | — | $109,000 |
| Net income | -$6.8M | — | — | — | -$43.3M |
| Balance Sheet | |||||
| Cash and equivalents | $43.6M | $55.0M | $36.5M | $56.2M | $38.0M |
| Current assets | $97.9M | $115.7M | $126.4M | $139.5M | $135.2M |
| Total assets | $170.0M | $188.6M | $182.2M | $187.5M | $178.1M |
| Current liabilities | $39.5M | $45.6M | $52.4M | $57.6M | $39.0M |
| Total liabilities | $41.0M | $47.2M | $55.0M | $58.8M | $40.4M |
| Stockholders' equity | -$30.5M | -$13.4M | -$23.1M | -$17.2M | -$56.4M |
| Cash Flow Statement | |||||
| Cash from operations | $11.5M | — | — | — | -$13.0M |
| Depreciation and amortization | $3.3M | — | — | — | $1.3M |
| Stock-based compensation | $29.0M | — | — | — | $27.9M |
| Capital expenditure | $11.6M | — | — | — | $9.7M |
| Free cash flow | -$81,000 | — | — | — | -$22.8M |
| Share repurchases | $24.9M | — | — | — | $0 |
| Impairments | $0 | — | — | — | $0 |
Shares outstanding 242.1M · Free float 20.1%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.