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Blend Labs BLND Q4 2025 Annual earnings

Reported March 10, 2026 · After market close

Revenue$32.4MBeat by $590.1K
EPS-$0.03Miss by $0.04
Revenue estimate$31.8M
EPS estimate$0.01

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$33.1M
EPS estimate$0.02

Financials

Q4 2025

Income statement

See full
Revenue$32.4M+7.6%
Gross profit$24.5M+9.8%
Operating income-$3.6M-9.5%
Net income-$2.5M-207%
EPS (diluted)-$0.030.0%

Balance sheet

See full
Cash & equivalents$45.1M+18.5%
Total debt$1.5M-61.5%
Total equity-$30.5M+45.9%
Total assets$170.0M-4.5%

Cash flow

See full
Operating cash flow$1.5M+134%
CapEx$1.6M-37.6%
Free cash flow-$21.0K+99.7%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$789.63M-26.7%
Enterprise value$746.05M-28.5%
P/S6.4×-2.9×

Profitability

See full
Gross margin73.8%+1.9pp
Operating margin-17.6%-6.5pp
Net margin-5.5%-2.5pp
FCF margin-0.1%0.0pp

Returns & leverage

See full
Current ratio2.5×-0.9×

Segments

By product

See full
Mortgage Suite$18.9M+3.9%
Consumer Banking Suite$11.4M+21.0%
Professional services$2.1M-15.7%

Versus estimates

Revenue

Q1 2026$30.8MBeat by $818.2K
Q4 2025$32.4MBeat by $590.1K
Q3 2025$32.9MBeat by $1.1MQ2 2025$31.5MMiss by $5.2MQ1 2025$26.8MMiss by $5.2MQ4 2024$41.4MBeat by $3.6M

Diluted EPS

Q1 2026-$0.03Miss by $0.05
Q4 2025-$0.03Miss by $0.04
Q3 2025-$0.03Miss by $0.05Q2 2025-$0.03Miss by $0.05Q1 2025-$0.01In lineQ4 2024-$0.03Miss by $0.04

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Questions, answered.

When did Blend Labs report Q4 2025 earnings?
Blend Labs (BLND) reported Q4 2025 earnings on March 10, 2026 after market close.
What were Blend Labs's Q4 2025 revenue and EPS?
Blend Labs reported revenue of $32.4M and eps of $-0.03 for Q4 2025.
Did Blend Labs beat estimates in Q4 2025?
Revenue beat the consensus estimate of $31.8M by $590.1K. EPS missed the consensus estimate of $0.01 by $0.04.
How did Blend Labs's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 21.8% from $41.4M a year earlier and eps grew 0.0% from $-0.03.
Where can I find Blend Labs's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001855747-26-000011) and the 10-K periodic report (0001855747-26-000016) directly on SEC EDGAR. The filing index links above go to sec.gov.