Blend Labs, Inc. balance sheet

At the end of fiscal 2025, Blend Labs, Inc. had total assets of $170m, total liabilities of $41.0m and shareholders' equity of −$30.5m. It held $45.1m in cash against $0 of debt: net cash of $45.1m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Blend Labs, Inc.: balance sheet, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	23	41	213	124	24	38	45	23
Receivables	—	15	34	23	18	15	9	14
Total current assets	—	186	613	396	170	135	100	76
Goodwill	—	0	287	0	—	—	—	—
Total assets	—	216	1,112	433	206	178	170	144
Accounts payable	—	3	6	1	2	2	2	0
Deferred revenue (current)	—	14	8	9	9	19	19	31
Total current liabilities	—	35	60	35	32	39	39	47
Long-term debt	—	0	214	217	138	0	0	—
Total debt	0	0	214	217	138	0	0	0
Total liabilities	—	52	302	269	179	40	41	49
Shareholders' equity	135	163	775	123	−19	−56	−30	−74
Non-controlling interests and other (assets − liabilities − equity)	—	—	36	41	46	194	159	169
Net debt (negative = net cash)	−23	−41	1	93	115	−38	−45	−23
Shares outstanding	—	—	—	241m	250m	258m	256m	237m

US$ millions unless shown otherwise. Fiscal quarters.

Blend Labs, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	16	15	11	15	12	9	18	14
Total current assets	146	135	139	126	116	100	93	76
Total assets	186	178	187	182	189	170	161	144
Accounts payable	2	2	3	1	1	2	0	0
Deferred revenue (current)	20	19	33	32	25	19	34	31
Total current liabilities	45	39	58	52	46	39	51	47
Long-term debt	0	0	0	0	0	0	—	—
Total debt	0	0	0	0	0	0	—	—
Total liabilities	47	40	59	55	47	41	53	49
Shareholders' equity	−50	−56	−17	−23	−13	−30	−56	−74
Non-controlling interests and other (assets − liabilities − equity)	188	194	146	150	155	159	164	169
Shares outstanding	256m	258m	259m	260m	260m	256m	247m	237m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Blend Labs, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Blend Labs, Inc.