Blend Labs, Inc. earnings

Blend Labs booked second quarter fiscal 2026 revenue of $33.84 million, up 7.0% from $31.63 million a year earlier, and gross profit of $24.88 million, up 6.5%. Gross margin came in at 73.5%, down 0.3 points from 73.8%.

Blend Labs reported first quarter 2026 revenue of $30.84 million, up from $26.84 million in the first quarter of 2025. Gross profit was $23.36 million, up from $19.00 million. Gross margin was 75.8%, up from 70.8%. The operating loss was $5.06 million, narrowed from $7.98 million.

Blend Labs posted fourth-quarter revenue of $31.6 million, up 5.0% from the prior-year quarter. Full-year revenue was $123.6 million, up 6.8%. Gross profit rose to $23.4 million for the quarter, up 4.6%, and to $91.2 million for the year, up 9.5%.

Blend Labs reported third quarter 2025 revenue of $32.9 million, down 0.7% from the prior-year quarter. Revenue for the first nine months of 2025 was $91.2 million, up 6.4% from the prior-year period.

Blend Labs reported total revenue of $31.5 million for the quarter ended June 30, 2025, up 9.9% from the prior-year quarter. That marked the fourth consecutive quarter of year-over-year revenue growth, according to the press release.

Blend Labs ended its fiscal 2025 first quarter with revenue of $26.77 million, up 12.3% from the prior-year quarter. Gross profit rose 18.2% to $18.96 million, and gross margin expanded to 70.8%, up 3.5 percentage points.

Blend Labs reported fourth-quarter revenue of $41.4 million, up 14.7% from the prior-year quarter. Full-year revenue was $162.0 million, up 3.3%. Gross profit was $24.7 million in the quarter, up 25.4%, and $90.5 million for the full year, up 11.6%.

Blend Labs posted $45.2 million of revenue in its fiscal 2024 third quarter, an 11.3% increase from the prior-year quarter. Gross profit rose 17.8% to $26.0 million and GAAP gross margin reached 57.5%, up 3.2 percentage points. The Blend Platform carried the growth.

Blend Labs reported second quarter 2024 revenue of $40.48 million, down 5.5% from the prior-year quarter. Gross profit was $21.68 million, down 7.7%, and gross margin was 53.6%, down 1.3 percentage points from 54.9%.

Blend Labs posted first quarter 2024 revenue of $34.9 million, down 6% from $37.3 million in the prior-year quarter. The decline came as management pointed to lower mortgage banking transaction volume and lower title orders. Mortgage transactions on the company's platform decreased 14.1% year over year.

Blend Labs closed fiscal 2023 with a smaller loss and a much stronger gross margin than a year earlier, but revenue kept falling. Revenue in the quarter ended December 31, 2023 was $36.1 million, down 15.6% from the prior-year quarter. For the full fiscal year, revenue fell 33.3% to $156.8 million.

Blend Labs reported third quarter 2023 revenue of $40.6 million, down 26.7% from the prior-year quarter. Gross profit rose 4.5% to $22.1 million, and gross margin expanded to 54.4% from 38.1%. The company narrowed its operating loss to $36.2 million from $129.9 million a year earlier.

Blend Labs shrank again in the quarter ended June 30, 2023. Total revenue was $42.8 million, down 34.7% from $65.5 million in the prior-year quarter. Year-to-date revenue of $80.2 million was down 41.5% from $137.1 million. The Title segment did most of the damage.

Blend Labs reported first quarter 2023 revenue of $37.3 million, down 48% from $71.5 million in the prior-year quarter. Gross profit fell 45% to $15.9 million from $28.9 million. Gross margin was 42.5%, up 2.1 percentage points from 40.4%.

Blend Labs closed fiscal 2022 with fourth-quarter results that show how quickly mortgage volume fell. Revenue was $42.78 million, down 47.2% from the prior-year quarter. Gross profit was $14.41 million, down 58.8%. Gross margin was 33.7%, down 9.5 percentage points.

Blend Labs posted a rough third quarter. Consolidated revenue fell 38.2% to $55.4 million for the quarter ended September 30, 2022, from $89.6 million a year earlier. Gross profit dropped 47.7% to $21.1 million, and gross margin slid to 38.1% from 45.0%.

Blend Labs reported total revenue of $65.5 million for FY2022 Q2, up 104.4% from the prior-year quarter. First-half revenue was $137.1 million, up 114.4% year over year. The quarter included a full period of Title365, which the company acquired in June 2021. Organic trends were mixed.

Blend Labs reported first quarter fiscal 2022 revenue of $71.5 million, up 124.4% from $31.9 million in the prior-year quarter. Gross profit was $28.9 million, up 37.4% from $21.0 million. Gross margin fell to 40.4% from 65.9%. The operating loss widened to $69.7 million from $27.2 million.

Blend Labs finished fiscal 2021 with sharp revenue growth and a much larger loss. Fourth quarter revenue was $80.99 million, up 164.4% from $30.63 million in the prior-year quarter. Full-year revenue reached $234.50 million, up 144.2% from $96.03 million. Two forces drove the increase.

Blend Labs reported third quarter 2021 revenue of $89.6 million, up 221% year over year. The total includes Title365, which the company acquired on June 30, 2021 and now reports on a net revenue basis. Blend Platform revenue growth, new customer wins, and the Title365 acquisition drove the increase.

Blend Labs closed its fiscal 2021 second quarter with revenue of $32.1 million, an increase of 46.3% from the prior-year quarter. The six-month revenue total reached $63.9 million, up 70.4% from the same period a year earlier. Growth came from higher transaction volume on the company's cloud banking platform.