Blend Labs, Inc.
3.3900-0.06 (-1.74%)
Oct 29, 4:00:02 PM EDT · NYSE · BLND · USD
Key Stats
Market Cap
879.11MP/E (TTM)
-Basic EPS (TTM)
-0.14Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Blend Labs posted solid Q2 FY2025 results, with total revenue climbing 10% y/y to $31.5M, fueled by a 43% surge in Consumer Banking Suite to $11.4M that offset a 3% dip in Mortgage Suite to $18.0M; gross margin expanded to 74% from 71%, thanks to steady costs amid restructuring gains. Operating loss narrowed sharply to $4.6M from $13.1M y/y, driven by 43% cuts in R&D and 23% in sales & marketing expenses, while diluted EPS from continuing operations improved to -$0.03 from -$0.09 on 259M shares. Cash from continuing operations hit $14.8M YTD, bolstering $88.3M in cash and marketable securities with no debt; the Title business sale, agreed June 9 for undisclosed terms, sheds $10.0M in Q2 revenue but sharpens platform focus. Yet competition from digital lending upstarts pressures market share.
8-K
Blend appoints new finance head
Blend Labs appointed Jason Ream as Head of Finance and Administration on August 7, 2025, succeeding Amir Jafari after a transition period; Ream assumes the principal financial officer role post the June 30, 2025 10-Q filing. With over 25 years in tech finance, including CFO stints at SailPoint and SolarWinds, Ream brings a $400,000 base salary, $250,000 target bonus, and 2.2 million RSUs vesting over four years. This leadership shift bolsters Blend's push for growth and profitability. Ream's expertise fits the next phase perfectly.
8-K
Q2 revenue up 10%, profitability holds
Blend Labs reported Q2 2025 revenue of $31.5 million, up 10% year-over-year, driven by 43% growth in Consumer Banking Suite to $11.4 million while Mortgage Suite dipped 3% to $18.0 million. The company notched non-GAAP operating income of $4.7 million for the fourth straight quarter, fueled by 23 new or expanded deals—double Q1's tally—and a record $190.4 million RPO. Sales momentum builds. It also sold Title365 to Covius, shifting to a higher-margin partnership model amid uncertain mortgage volumes.
8-K
Annual meeting votes affirm board
Blend Labs stockholders overwhelmingly elected seven directors—Nima Ghamsari, Gerald Chen, Erin Lantz, Timothy J. Mayopoulos, Brian Sheth, Bryan E. Sullivan, and Eric Woersching—to the board at the June 11, 2025 annual meeting, with votes ranging from 204 million to 251 million in favor despite some withholding. They also ratified PricewaterhouseCoopers LLP as independent auditors for the fiscal year ending December 31, 2025, securing 313.5 million yes votes against just 23,000 no's. Continuity locked in.
8-K
Blend sells title unit to Covius
Blend Labs announced on June 9, 2025, a definitive agreement to sell its Title365 Holding Co. title insurance business to Covius Services, LLC, pending third-party consents and regulatory approvals, with closure expected in the coming months. This divestiture sharpens Blend's focus on core lending tech amid streamlining efforts. No financial terms disclosed. Deal hinges on approvals.