Blend Labs vs Expensify
Blend Labs and Expensify are similar in size: $124m and $142m of revenue in their latest fiscal years. Blend Labs grew faster (6.8% against 2.1%). Blend Labs kept more of each dollar of sales as profit: a net margin of -5.5% against -15.1%.
| Latest fiscal year | Blend LabsBLND, 2025 | ExpensifyEXFY, 2025 |
|---|---|---|
| Revenue | $124m | $142m |
| Revenue growth | 6.8% | 2.1% |
| Net income | −$6.8m | −$21.4m |
| Operating margin | -17.6% | -12.7% |
| Net margin | -5.5% | -15.1% |
| Return on equity | — | -16.4% |
| Free cash flow | −$81,000 | $20.1m |
| Cash | $45.1m | $63.1m |
| Total debt | $0 | $0 |
| Debt to equity | — | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $24.9m | $9.1m |
| Employees | 419 | 117 |
| Market value | $284m | $219m |
| Price vs our value range | — | — |
| Moat score | 18 (Weak) | 32 (Weak) |
| Insider trades, 12 months | 34 buys, 16 sales | 6 buys, 34 sales |