Blend Labs vs Firy
Blend Labs is the larger business, with $124m of revenue in fiscal 2025 against $104m for Firy (1.2 times as much). Firy grew faster (12.5% against 6.8%). Blend Labs kept more of each dollar of sales as profit: a net margin of -5.5% against -67.4%.
| Latest fiscal year | Blend LabsBLND, 2025 | FiryFIRY, 2025 |
|---|---|---|
| Revenue | $124m | $104m |
| Revenue growth | 6.8% | 12.5% |
| Net income | −$6.8m | −$70.4m |
| Operating margin | -17.6% | — |
| Net margin | -5.5% | -67.4% |
| Return on equity | — | -49.4% |
| Free cash flow | −$81,000 | −$70.3m |
| Cash | $45.1m | $195m |
| Total debt | $0 | $130m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $24.9m | $9.3m |
| Employees | 419 | — |
| Market value | $273m | $197m |
| Price vs our value range | — | — |
| Moat score | 18 (Weak) | 21 (Weak) |
| Insider trades, 12 months | 34 buys, 16 sales | 0 buys, 0 sales |