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Blend Labs, Inc.

BLND Clue Score38
United States Fiscal year ends December CIK 0001855747
$1.00 -5.13% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $1.00 −92.80% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 16 Jul 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue50.7Operating income−81.7Net income−81.5EPS, diluted−2.49Fiscal year 2020Revenue96.0 +89.5%Operating income−75.3Net income−74.6EPS, diluted−1.89Fiscal year 2021Revenue234.5 +144.2%Operating income−197.2Net income−169.9EPS, diluted−1.30Fiscal year 2022Revenue235.2 +0.3%Operating income−746.2Net income−720.2EPS, diluted−3.28Fiscal year 2023Revenue109.5 −53.4%Operating income−143.6Net income−178.7EPS, diluted−0.76Fiscal year 2024Revenue115.8 +5.7%Operating income−48.8Net income−43.3EPS, diluted−0.24Fiscal year 2025Revenue123.6 +6.8%Operating income−21.7Net income−6.8EPS, diluted−0.10
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 50.7 96.0 234.5 235.2 109.5 115.8 123.6
Growth +89.5% +144.2% +0.3% −53.4% +5.7% +6.8%
Operating income −81.7 −75.3 −197.2 −746.2 −143.6 −48.8 −21.7
Net income −81.5 −74.6 −169.9 −720.2 −178.7 −43.3 −6.8
Growth
EPS, diluted −2.49 −1.89 −1.30 −3.28 −0.76 −0.24 −0.10

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Gross margin61.4%Operating margin−161.3%Net margin−160.7%Free cash flow margin−117.5%Fiscal year 2020Gross margin64.3%Operating margin−78.4%Net margin−77.7%Free cash flow margin−69.1%Fiscal year 2021Gross margin49.5%Operating margin−84.1%Net margin−72.5%Free cash flow margin−55.1%Fiscal year 2022Gross margin38.1%Operating margin−317.3%Net margin−306.2%Free cash flow margin−81.8%Fiscal year 2023Gross margin69.8%Operating margin−131.1%Net margin−163.1%Free cash flow margin−116.5%Fiscal year 2024Gross margin71.9%Operating margin−42.2%Net margin−37.4%Free cash flow margin−19.7%Fiscal year 2025Gross margin73.8%Operating margin−17.6%Net margin−5.5%Free cash flow margin−0.1%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 61.4% 64.3% 49.5% 38.1% 69.8% 71.9% 73.8%
Operating margin −161.3% −78.4% −84.1% −317.3% −131.1% −42.2% −17.6%
Net margin −160.7% −77.7% −72.5% −306.2% −163.1% −37.4% −5.5%
Free cash flow margin −117.5% −69.1% −55.1% −81.8% −116.5% −19.7% −0.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−58.9Capital expenditure−0.6Free cash flow−59.5Fiscal year 2020Operating cash flow−65.0Capital expenditure−1.3Free cash flow−66.3Fiscal year 2021Operating cash flow−127.5Capital expenditure−1.7Free cash flow−129.2Fiscal year 2022Operating cash flow−190.4Capital expenditure−2.1Free cash flow−192.5Fiscal year 2023Operating cash flow−127.6Capital expenditure−0.0Free cash flow−127.7Buybacks0.0Fiscal year 2024Operating cash flow−13.0Capital expenditure−9.7Free cash flow−22.8Buybacks0.0Fiscal year 2025Operating cash flow11.5Capital expenditure−11.6Free cash flow−0.1Buybacks−24.9
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −58.9 −65.0 −127.5 −190.4 −127.6 −13.0 11.5
Capital expenditure −0.6 −1.3 −1.7 −2.1 −0.0 −9.7 −11.6
Free cash flow −59.5 −66.3 −129.2 −192.5 −127.7 −22.8 −0.1
Growth
Buybacks n/a n/a n/a n/a 0.0 0.0 −24.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash22.6Shareholders’ equity135.0Fiscal year 2020Cash41.1Total debt0.0Net cash (debt)41.1Shareholders’ equity163.3Debt to equity0.00Fiscal year 2021Cash213.1Total debt213.8Net cash (debt)−0.8Shareholders’ equity774.6Debt to equity0.28Fiscal year 2022Cash124.2Total debt216.8Net cash (debt)−92.6Shareholders’ equity123.2Debt to equity1.76Fiscal year 2023Cash23.5Total debt138.3Net cash (debt)−114.8Shareholders’ equity−19.2Fiscal year 2024Cash38.0Total debt0.0Net cash (debt)38.0Shareholders’ equity−56.4Fiscal year 2025Cash43.6Total debt0.0Net cash (debt)43.6Shareholders’ equity−30.5
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 22.6 41.1 213.1 124.2 23.5 38.0 43.6
Total debt n/a 0.0 213.8 216.8 138.3 0.0 0.0
Net cash (debt) n/a 41.1 −0.8 −92.6 −114.8 38.0 43.6
Shareholders’ equity 135.0 163.3 774.6 123.2 −19.2 −56.4 −30.5
Debt to equity n/a 0.00 0.28 1.76 n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021† 31 Dec 2021 FY2022† 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
22.6 41.1 213.1 124.2 23.5 38.0 43.6
n/a 4.6 6.2 5.7 3.9 11.7 23.0
n/a 0.0 287.2 0.0 n/a n/a n/a
n/a 215.7 1,112.5 432.8 206.1 178.1 170.0
Growth +415.6% −61.1% −52.4% −13.6% −4.5%
Liabilities
n/a 0.0 213.8 216.8 138.3 0.0 0.0
calc n/a 0.0 213.8 216.8 138.3 0.0 0.0
n/a 52.4 301.9 268.8 179.1 40.4 41.0
Equity
n/a −272.9 −442.8 −1,162.9 −1,341.6 −1,385.0 −1,391.8
135.0 163.3 774.6 123.2 −19.2 −56.4 −30.5
Growth +21.0% +374.3% −84.1% −115.6%
Per share and net cash
calc n/a 41.1 −0.8 −92.6 −114.8 38.0 43.6
n/a 0.0 230.3 240.9 249.9 258.2 256.0
calc n/a n/a 3.36 0.51 −0.08 −0.22 −0.12

† The diluted share count jumps at 2021 and 2022, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Lines marked calc are worked out here from filed figures; point at one for how.