Blend Labs, Inc. income statement

In fiscal 2025, Blend Labs, Inc. reported revenue of $124m, up 6.8% on the year before, operating income of −$21.7m (a -17.6% margin) and net income of −$6.8m, or −$0.10 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Blend Labs, Inc.: income statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	51	96	234	235	110	116	124	129
Cost of revenue	20	34	119	146	33	33	32	33
Gross profit	31	62	116	90	76	83	91	96
Research and development	49	56	92	138	81	46	33	34
Selling and marketing	38	51	84	85	57	34	29	28
General and administrative	27	30	129	139	61	46	50	50
Operating income	−82	−75	−197	−746	−144	−49	−22	−17
Interest expense	0	0	11	25	31	7	0	—
Income before tax	−81	−75	−208	−766	−167	−43	−1	2
Income tax	0	0	−39	−2	0	0	0	0
Net income	−81	−75	−170	−720	−179	−43	−7	−4
Diluted EPS	−$2.49	−$1.89	−$1.30	−$3.28	−$0.76	−$0.24	−$0.10	−$0.02
Diluted shares (average)	33m	39m	132m	234m	245m	254m	259m	253m
EBITDA	−77	−71	−187	−735	−142	−48	−18	−13

US$ millions unless shown otherwise. Fiscal quarters.

Blend Labs, Inc.: income statement, 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
Revenue	33	30	27	32	33	32	31	34
Cost of revenue	9	8	8	8	8	8	7	9
Gross profit	25	22	19	23	24	23	23	25
Research and development	10	9	8	7	9	7	9	9
Selling and marketing	9	6	7	7	8	7	6	7
General and administrative	11	10	11	14	13	14	12	11
Operating income	−11	−3	−8	−5	−5	−5	−5	−2
Interest expense	0	0	0	0	0	0	—	—
Income before tax	−1	−2	−7	−4	12	−4	−5	−1
Income tax	0	0	0	0	0	0	0	0
Net income	−2	−1	−10	−7	12	−7	−8	−1
Diluted EPS	−$0.03	−$0.03	−$0.06	−$0.04	$0.02	−$0.03	−$0.05	−$0.03
EBITDA	−11	−3	−8	−5	−5	−4	−4	−0

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.