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Blend Labs BLND Software platform — Total Cost of Revenue

Other product segments

Professional services
$1.8M+5.1%

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Other financials

Income statement

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Revenue$33.8M+7.0%
Gross profit$24.9M+6.5%
Operating income-$1.6M+67.3%
Net income-$1.5M+78.3%
EPS (diluted)-$0.03+25.0%

Balance sheet

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Cash & equivalents$25.2M-39.2%
Total debt$2.0M-14.2%
Total equity-$74.4M-223%
Total assets$143.6M-21.2%

Cash flow

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Operating cash flow$7.9M
CapEx$825.0K-77.1%
Free cash flow$7.1M+170%

Valuation

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Market cap$357.14M-51.2%
Enterprise value$333.93M-51.8%
P/S2.8×-3.2×

Profitability

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Gross margin74.3%+1.0pp
Operating margin-13%-3.9pp
Net margin-3.3%-1.5pp
FCF margin5.9%+4.6pp

Returns & leverage

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Return on equity-251.8%+881pp
Debt / equity36.8×+35.5×
Current ratio1.6×-0.8×

Where this comes from

Reported directly by Blend Labs in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: Blend Labs’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:09 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001855747-26-000057
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Professional services2,4332,1645,2834,707
Total revenue33,83731,62964,68058,474
Cost of revenue
Software platform7,1526,56012,92012,457
Professional services1,8001,7133,5103,660
Total cost of revenue8,9528,27316,43016,117
Gross profit24,88523,35648,25042,357
Operating expenses:

Item 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Blend Labs's software platform — total cost of revenue?
Blend Labs (BLND) reported software platform — total cost of revenue of $7.15M in Q2 2026.
How has Blend Labs's software platform — total cost of revenue changed year-over-year?
Blend Labs's software platform — total cost of revenue increased by 9.0% year-over-year, from $6.56M to $7.15M.
What is the long-term trend for Blend Labs's software platform — total cost of revenue?
Over 4 years (2021 to 2025), Blend Labs's software platform — total cost of revenue has grown at a -4.0% compound annual growth rate (CAGR), from $30.26M to $25.66M.
What does software platform — total cost of revenue mean?
This metric measures the direct costs associated with delivering the software platform services, including cloud infrastructure hosting fees, third-party data integration costs, and personnel expenses for technical support and maintenance. It reflects the operational expenditures required to maintain the availability and security of the digital lending platform. Monitoring this cost helps assess the scalability of the software infrastructure and the efficiency of service delivery.

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