BLND (Blend Labs, Inc.) Stock Financials & Earnings

BLNDBlend Labs, Inc.

Mkt Cap$421M

Revenue (TTM)$133M

Net Income (TTM)-$7M

EPS (TTM)-$0.10

Free Cash Flow (TTM)-$7M

Gross Margin69.0%

Op. Margin-14.3%

Net Margin-5.2%

FCF Margin-5.5%

P/S Ratio (TTM)3.2x

P/E Ratio (TTM)—

YoY Rev Growth-0.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$43M	$14M	-$75M
Q1 23	$37M	$16M	-$61M
Q2 23	$43M	$23M	-$37M
Q3 23	$41M	$22M	-$36M
Q4 23	$36M	$20M	-$22M
Q1 24	$24M	$16M	-$21M
Q2 24	$29M	$20M	-$13M
Q3 24	$45M	$26M	-$13M
Q4 24	$41M	$25M	-$2M
Q1 25	$27M	$19M	-$8M
Q2 25	$32M	$23M	-$5M
Q3 25	$33M	$24M	-$5M

Valuation

Operating Cash Flow

Capital Expenditures

CapEx

OpEx vs Revenue Growth (YoY)

Stock-Based Compensation

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 22	$33M	$33M	$20M
Q1 23	$26M	$21M	$18M
Q2 23	$22M	$20M	$16M
Q3 23	$19M	$16M	$14M
Q4 23	$14M	$15M	$12M
Q1 24	$14M	$12M	$10M
Q2 24	$13M	$11M	$9M
Q3 24	$10M	$13M	$10M
Q4 24	$9M	$11M	$7M
Q1 25	$8M	$11M	$7M
Q2 25	$7M	$14M	$7M
Q3 25	$9M	$13M	$8M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 22	-47.2%	-168.3%	-215.5
Q1 23	-47.8%	-153.0%	-200.8
Q2 23	-34.7%	-74.9%	-109.5
Q3 23	-26.7%	-79.2%	-105.8
Q4 23	-15.6%	-60.7%	-76.3
Q1 24	-36.1%	-60.9%	-97.0
Q2 24	-33.0%	-57.5%	-90.5
Q3 24	11.3%	-1.2%	10.1
Q4 24	14.7%	0.0%	14.7
Q1 25	12.3%	-22.8%	-10.5
Q2 25	9.9%	-9.0%	0.8
Q3 25	-27.3%	37.9%	10.7

Revenue Segments

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$124M	$230M	$354M
Q1 23	$46M	$261M	$307M
Q2 23	$35M	$231M	$266M
Q3 23	$85M	$160M	$245M
Q4 23	$31M	$106M	$137M
Q1 24	$85M	$44M	$128M
Q2 24	$45M	$67M	$113M
Q3 24	$55M	$62M	$117M
Q4 24	$42M	$56M	$98M
Q1 25	$56M	$49M	$105M
Q2 25	$36M	$52M	$88M
Q3 25	$55M	$22M	$77M

Shares Outstanding

Revenue Per Employee

Revenue / Employee